In 2020 the average time it will take an insurance agency to hire an experienced Account Manager will be three and half to four months. When I tell clients this, one of three responses follow: Surprise: “Wow, really? I never …
Sterling L. Hammack, Jr., the founder of Professional Insurance Associates (PIA) in San Carlos, Calif., was an extensive world traveler. During his life, Sterling visited over 100 countries, including many in Africa, often with his wife Paula. After Sterling passed …
As the M&A frenzy continues, buyers keep pushing the envelope when it comes to agency value. The private equity firms were initially paying top dollar to their first acquisition of a large, well-run firm platform acquisition. But now, many of …
Mistakes by claims professionals were the most common reason for enforcement actions against U.S. property and casualty insurers in 2018, taking the No. 1 and No. 2 spot on a top 10 list issued by the Wolters Kluwer consulting firm. …
Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2018, total DPW for all P/C insurers aggregately increased approximately 4% over 2017, an increase of $33.3 billion. For year-end 2018, nearly $670 billion of …
State insurance officials say Jefferson City, Missouri, residents made more than $170 million in insurance claims after a tornado hit the city on May 22. Missouri Department of Insurance data shows insurers paid out more than $122 million for those …
A survey of 41 major corporations by broker Willis Towers Watson found that 61% believe political risk levels increased in 2019 while 68% have actually suffered a political risk loss. Disruption of international trade was considered the most significant risk …
Michigan drivers who want unlimited medical coverage for crash injuries will pay $100 per vehicle starting in July, which will be 55% less than the record high $220 annual fee they currently pay. The Michigan Catastrophic Claims Association, a state-created …
This concluding column of this series, Step 4 of the claim resolution process, addresses how you convince the insurer that a claim is covered, examining the balance between the role of policy language and the role of logic and reason, …
A.M. Best has maintained a market segment outlook of stable on the U.S. personal lines industry for 2020, citing a significant decline in catastrophe activity, profitable underwriting performance in the private passenger auto segment and the sector’s overall strong risk-adjusted …
