insurance
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 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,...
January 9, 2023
Personal Protective Equipment Considerations for Women
Historically, the construction industry has largely been a male-dominated field. In fact, according to the U.S. Bureau of Labor Statistics, women currently account for just 10.3% of those employed within the sector—a statistic that has been relatively steady for much of the past two decades. As a result of this workforce trend, many suppliers and...
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 17, 2022
How to Remain Profitable in a Hardening Insurance Market
The insurance industry is experiencing a hardening market right now. That means the market cycle is on an upswing, premiums are increasing, and carriers’ capacity for most types of risk is decreasing. While there are various opinions about what a hard market looks like in comparison to a soft market, its underlying causes and repercussions are universally agreed upon. The...