Property and Casualty

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January 30, 2023

Start 2023 Off Right with Strategic Planning and Goal Setting

Strategic planning and goal setting are incredibly important for businesses of all sizes, as well as for business owners themselves. This process should connect your goals with “why” that goal is important to the activities that people do within the company.  A good business coach will guide you through the goal setting process, facilitate the...

January 19, 2023

Property & Casualty Trends to Watch in 2023

Insurance experts often examine how outside influences and trends affect the insurance marketplace, and businesses should follow suit to determine what factors may impact their insurance coverage. For 2023, there are a number of sweeping market developments to consider. Labor ShortagesThe last few years have seen widespread labor shortages. According to a recent survey conducted...

January 18, 2023

Catastrophe Losses Hit $120 Billion in 2022

Insured natural disaster losses hit an estimated $120 billion in 2022, with North America making up the bulk of the tally due to the devastation caused by Hurricane Ian, according to Munich Re. Economic losses reached $270 billion, down from $320 billion in 2021. While overall losses were close to average, insured losses were well...

January 11, 2023

5 Trends in Digital Security Transformation to Watch For in 2023

A June 2020 study by McKinsey & Company found that the pandemic has accelerated the digital economy by 7 years. The digital adoption of applications for corporate work, in conjunction with tech solutions for physical security, is not just a temporary fix. These solutions are here to stay. As new technologies and digital solutions transform security operations,...

December 28, 2022

Seeing Opportunity in the Hardening Property Insurance Market

The coming year is expected to see further hardening in the property insurance market. This will present insurance companies the opportunity to separate themselves from the competition during a period that could establish the future front-runners in the sector, according to Bill Martin, president and CEO of Plymouth Rock Home Assurance. “The biggest insurers of the 20th...

December 21, 2022

Why Private Companies Need D&O Insurance

Directors and officers (D&O) insurance provides corporate directors and officers with coverage for managerial decisions that negatively impact the company. This insurance may generally cover legal fees, settlements, and other costs related to their defense. All types of businesses should seriously consider D&O insurance, but there’s a common misconception that private companies may not need...

December 20, 2022

Economic Factors Will Dictate Risk Trends for 2023

While there are varying measurements of what qualifies as a recession, the consensus is that rising interest rates and high inflation will continue to put the financial squeeze on Americans in the new year. In these economic conditions, it’s likely insurance companies will see an uptick in claims related to inflation and the heightened cost...

December 15, 2022

Can Surety Bonds Revolutionize Infrastructure?

The Story India wants to ramp up its infrastructure ambition. The government wants to spend over ₹15 lakh crores in the next year alone to build roads, bridges, and a lot of other stuff. But they can’t do everything on their own. They have to work with other private sector entities to bring these massive...

December 14, 2022

It’s a Wrap: Key Issues Insurers Faced in 2022

Insurers faced some tough challenges in 2022, including a few that threatened their very existence. Astronomical jury verdicts, AI deep fakes, seemingly unending numbers of claims seeking compensation for coronavirus business shutdowns — more than a few industry lawyers spent sleepless nights beating back litigation that targeted the very core of the industry’s stability. Here’s...

December 8, 2022

Businesses Advised to Review D&O, Other Policies for ESG Risks

Businesses should review their directors and officers liability insurance and other policies to better understand how they would protect them from a widening array of claims arising from environmental, social and governance risks, a panel of experts said Wednesday. Heightened SEC enforcement actions against investment advisers, on whistleblower tips, and on company disclosures, show the...