Floods, Fires, & Financing Disasters: What Insurers Should Know About Disaster Insurance

As the summer heats up each year, so does disaster season. In 2020 and 2021, property/casualty insurers in the United States paid approximately $176 billion in natural catastrophe claims. It’s not getting any better; losses have steadily increased over the past four years. Whether the damage comes from flooding, wildfires, tornadoes, or earthquakes, many people … Read more

How to Pivot in a Hard Market

In a hard market, there’s a market cycle of high demand for coverage coupled with a reduced supply. This decrease in supply may be due to several factors, including an increase in weather-related losses, rising labor costs, and supply chain shortages. When insurance premiums increase to reflect the hard market, and underwriting criteria become stricter, … Read more

Most Common Claims in The Carefree Days of Summer

As summer quickly approaches, most people welcome the change in pace and increase in activities and family gatherings, including road trips, boating on the lake, waterskiing, campfires, and more. Unfortunately, with all these fun summer activities comes all kinds of risks. Here are some of the most common claims that come in over the summer … Read more

Electric Vehicles and The Auto Insurance Industry

With the arrival of electric vehicles (EVs) onto the automobile scene, there are exciting possibilities and plenty of challenges. One of those challenges lies within the realm of the insurance industry: specifically, the area of yet unknown risk. While governments and universities are gathering data and making predictions about risk and premium costs, we don’t … Read more

Compliance in The Insurance Industry

The insurance industry has been experiencing an increased number of compliance infractions over the last few years. Accordingly, compliance risk management has become a top priority for those in leadership. Staying compliant has become more challenging due to increased regulations, difficulty finding people to fill this role, and inflation creating a need for cost reduction. … Read more

Inflation and The Insurance Industry

Inflation is squeezing American pocketbooks from all directions. Wages aren’t keeping up with increases at the gas pump, the supermarket, and everyday living expenses, yet people still need to protect what they have, including their homes, transportation, health, and life. Here are some ways inflation is impacting the insurance industry and how to adapt in … Read more