Conduct diligent inspections of your commercial property and the surrounding area for specific exposures to loss.  Analyze exposures to natural disaster. If property is located in a disaster-prone area, implement mitigation and response measures that will protect it.  Conduct accurate Insurance-To-Value calculations to remain fully protected when loss events occur.  Why? Natural […]
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Entries by Julie Ward
It is a sign of tough times when even the insurance companies are struggling. Inflation is driving up auto insurance losses and combined ratios. The amplified insurance claims have inflated at an even faster pace than the Consumer Price Index (CPI) and the premiums charged by carriers.  According to the American Property Casualty Insurance […]
Around this time last year, our team predicted Directors and Officers Liability Insurance (D&O) price increases trending downwards towards flat renewals. Read it here As 2022 winds to a close, the decreases are coming to fruition. According to Aon’s latest D&O Pricing Index, the average price per million in limits for D&O insurance fell for […]
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Published on September 29th, 2022, by Kyle Langan As the nation holds Florida in its prayers, hoping the state and its people stay safe in the face of Hurricane Ian, our thoughts are with everyone impacted. A catastrophic loss can happen to anyone at any time; therefore, resilience is crucial. Fortunately for the areas and […]
Published September 2nd, 2022, by Kyle Langan Starbucks Corp executives and directors have been sued over the entity’s efforts to promote diversity. The plaintiff, a Starbucks shareholder, alleges that these efforts insinuate racial discrimination because corporate policies require the company to make race-based decisions that benefit minorities and violate federal and state civil rights laws. […]
What is a captive? “Captives are a form of alternative risk transfer. Commonly, they utilize a hybrid risk financing structure, meaning they both retain and transfer risk. A captive insurer is a subsidiary formed to insure the loss exposures of its parent company and the parent’s affiliates. Its primary purpose is to reduce the parent’s […]
Published July 11th, 2022 by Kyle Langan Has your insurance broker reviewed your replacement cost valuations recently? If not, you need to take action. Walmart Distribution Center – March, 2022 Insureds commonly underreport values and it can have devastating results when a catastrophic (cat) loss arises.  A recent example of a cat loss is […]
Property and Casualty Property and casualty insurances’ hard markets are poised to continue as the first quarter of 2022 is now behind us. “Even with many carriers reporting improved loss ratios and record earnings, tightening capacity and rate increases are not quite behind us” (Amwins, 2022). Carriers continue to de-risk their portfolio by limiting their […]
Ransomware payments by victims spiked 70 percent YoY in 2021; ransomware continues to hammer healthcare and education, but all industries are at risk (Holdeman, 2022). “Ransomware is a type of malicious software designed to block access to a computer system until a sum of money is paid” (Oxford). It is one of the many cyber […]