Continuous improvement is a widely known quality management concept used by numerous organizations in the insurance industry. It’s an essential mindset for insurance companies who aim to continuously enhance their operations. In my work, it’s job No. 1. Through my …
Taking a deep dive into the world of managing general agents and other delegated underwriting authority enterprises, AM Best reports that premiums generated by DUAEs are climbing, and interest in MGA acquisitions remains high. In a March 1, 2022, report …
Cyber claims from small and midsize businesses saw a “material uptick” in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber Claims Report, Coalition concluded that from 2020 …
US Insurers — already hammered by extraordinary losses caused by natural disasters — are failing to raise premiums at a pace that matches the inflation rate, according to the American Property Casualty Insurance Association. APCIA said private property/casualty insurers experienced …
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was above 7%. The survey compared prices charged on policies …
It comes upon you suddenly, and without warning. Fear. The kind of fear that strikes you physically like electricity running through your body. You resist the urge to be physically ill. Death would seem merciful, but this isn’t going to …
People who like the water like boats. This might be a gross misuse and the mariners among us might get offended by it, but I’m going to use the term boat to refer to any kind of watercraft that an …
The news that a startup Florida insurance company will assume $400 million in policies from the now-insolvent St. Johns Insurance Co. – without input from other carriers – has set tongues wagging and emails flying among Florida insurance executives. In …
Companies around the world are facing unprecedented inventory and supply chain issues, which has been brought on by the ongoing COVID-19 pandemic. In the western United States, ports are filled with cargo ships, and once easy-to-get supplies now require long …
The National Transportation Safety Board ruled that a helicopter that crashed in Hawaii last month and killed all four people on board nose-dived from 200 feet above ground after it unexpectedly stopped while making a shallow left turn. The agency’s …
