By Neil Spector, President, ISO and Robert Gordon, Senior Vice President, Policy, Research and International, APCIA
COVID-19 has visibly impacted the underwriting results, especially for the second quarter of 2020, suppressing premiums and losses and prompting extraordinary policyholder dividends.
by Joseph Petrelli Let’s define three terms. According to Investopedia, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of unique attributes or brand end up becoming simple commodities in the eyes of the market or consumers. When products and services are commoditized, the lower the […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor The holidays are a time of increased spending and celebrating. The COVID-19 pandemic and improved technology have led to a sharp increase in online shopping. The digital world is not without risks, however. Alerting clients to possible scams and dangers of online […]
by Howard S. Kronberg, Esq. We close out the year with an update on two recent New York insurance related court decisions that might have significant impact. One that affects you directly: a special relationship/proximate cause insurance agent E&O decision. The other indirectly, but important to your insureds, and thus to you: the interplay of […]
Shortages lead to skyrocketing prices for wide range of building materials, adding to insured values across sector
by Matthew Lerner
Construction and building materials are in short supply and have seen double-digit price spikes since the COVID-19 pandemic took hold last year, driving up project and rebuilding costs and affecting companies ranging from contractors to insurers.
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor The rise of the Internet, and the economic challenges of 2008/2009 brought a shift in how people work. People started offering goods and services directly to consumers via websites and apps. Advances in technology have given rise to accessibility and connectivity that […]
Independent insurance agencies have long struggled with the adoption and implementation of technology in today’s digital world. Far from recognizing tech as an I.T. function of backroom servers and computer systems, a successful tech strategy is the sign of a future-focused agency. But, what does a digital strategy look like for independent insurance agencies? How […]
How Insurance Premiums Have Changed in Each State since 2010
by Mike Brown
Using data from the NAIC & US Census Bureau, I analyzed how insurance premiums have changed in each state (and nationwide) from 2010 to 2020.
By Stuart R. Levine The tragic collapse of a 13-story condominium in the Surfside neighborhood of Miami that claimed the lives of at least 98 people underscores the need for board members to be both reflective and proactive. Bearing witness to tragedy is part of the human experience yet memory dissipates quickly unless, of course, […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor 2020 was not just the year of the pandemic. It also brought record climate and weather-related disasters to the United States. In all, 22 such events caused at least $1 billion in damage each, with the Midwest derecho in August resulting in […]
A Beacon International Group, Ltd. Member
