Even though reinsurance executives are making noise about social inflation and liability rate inadequacy, WTW isn’t expecting any major changes in the pricing for commercial casualty or property insurance markets heading into 2024. “The property market will try to lean …
I conceive that the great part of the miseries of mankind are brought upon them by false estimates they made of the value of things.” – Benjamin Franklin Last year, I participated in a panel discussion on property undervaluation at …
Recently, I spent a week learning about an entirely different industry than insurance. It was a great education. Along the way, I also learned about their insurance situation. As is common, provably common, about insurance coverages for small and medium …
The aftershocks of the COVID-19 pandemic have hit businesses hard, with inflation, supply chain disruptions, and increasing downtime. Just as we saw how ill-prepared our healthcare system was for the global outbreak, so was our economy, and our supply and …
Auto repairs are taking more than twice as long as they did in 2021, but policyholders who filed claims appear to be taking that in stride. J.D. Power reported that the industry average claims satisfaction rating increased five points to …
For nearly 30 years, I’ve been writing and consulting with insurance agencies, brokers and networks on the benefits of choosing the most stable carriers — stable from an operational perspective, which enables agencies to achieve greater success, rather than stable …
An Idaho woman is suing her one-time fertility doctor, saying he secretly used his own sperm to inseminate her 34 years ago, the latest in a string of such cases brought as at-home DNA sampling enables people to learn more …
With a staggering 50% of the current insurance workforce set to retire in less than 10 years, potentially leaving more than 400,000 positions unfilled, nearly every insurance organization is struggling to recruit new talent while retaining their best talent. But …
The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business owners policy property coverage limits will also …
S&P Global Market Intelligence projects that personal auto results will improve from 2022’s worst-in-decades combined ratio of 112.2%, though not as rapidly as the organization’s experts previously expected. Continued pressure on claim severity across coverages has prolonged post-pandemic recovery for …
