Property and Casualty
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...
November 21, 2022
The Top 3 Questions Agents Ask about Builders Risk
Design on a Dime, Property Brothers, Man Cave, This Old House, Flip or Flop — These popular TV shows draw millions of viewers with stories featuring renovations of run-down or dated homes. Television producers don’t tell you that the contractor and property owner all face risks in the renovation process — risks that are distinct from...
November 15, 2022
Moving Toward a Sustainable Safety Culture
Although more than three-quarters of hiring organizations said improving safety culture alignment among their contractors is the most effective approach for driving down serious injuries and fatalities in the workplace, but only around 20% of organizations believe they have achieved a sustained safety culture, according to a survey by ISN Software Corp. In order to move...
November 3, 2022
Well-Prepared Leaders Embrace Risk
Well-prepared leaders embrace risk and make better decisions during times of economic uncertainty, according to a new study by Aon. Aon’s 2022 Executive Risk Survey, Making Better Decisions in Uncertain Times, was compiled from more than 800 interviews with C-suite and senior executives from companies with 500 or more employees. Respondents were asked questions about what...
October 31, 2022
Duties in the Event of a Commercial Property Loss
Most people understand that insurance companies have a duty to reimburse insureds for commercial property damage not excluded by their policies. What’s lesser known is that if a loss does occur, insureds also have duties they owe to their insurance company. Many commercial property insurance policies include language detailing steps that must be taken following...