This study of New York’s $3.7 billion dollar homeowners insurance market was underwritten by the Excess Line Association of New York. It was initiated to determine if the excess line market competes with the admitted market for homeowners insurance business in New York State. All analysis, findings and conclusions are solely those of NovaStance Analytics.
Taxi And Van Underwriting Issues Threatens New York City’s “Return To Normal” A looming crisis could slow the comeback of New York City – removing wheels from the equation. An actuarial report has hit at American Transit Insurance Company’s reserves, putting the main underwriter of critical transportation classes into a dubious spot. ATIC has long […]
The Excess Line Association of New York (ELANY) held its 33rd Annual Members’ Meeting on Thursday, May 27, 2021. New York State Senator Neil Breslin delivered the keynote address in his usual candor touching on topics such as industry innovation, ELANY’s diligent effort and affidavit reform legislation, as well as the challenges New York is […]
Rod Fox, Chief Executive Officer of TigerRisk, said: “I’ve known Jack for 20+ years, and I am thrilled to have him join us. No one knows the ratings agencies as well as Jack and his wealth of experience helping hundreds of companies over the years navigate the ratings process will be a tremendous help to […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor Wearable technology, including fitness apps trackers and other wireless communication, gives everyone the ability to do things more efficiently. In 2020, 22.6 million smartwatches, the most popular wearable technology, were sold in the United States alone. Total sales of all wearables as […]
More than 475 underwriters, brokers, claims personnel and key industry personnel clicked on to participate in the 90th Inland Marine Underwriters Association (IMUA) Virtual Annual Meeting. The two half-day virtual meetings were held on May 25th & 26th. The first order of business was the announcement of the approval of the election results for the […]
How Companies Are Shifting Focus to Health and Safety as Turnover Accelerates By R.J. Frasca Current employees are leaving behind the uncertainty and burnout of the pandemic and setting their sights on new jobs now that COVID-19 cases in America are on a steady decline. Healthcare workers who put their lives in jeopardy caring for […]
By Glenn Femminella The insurance climate today, as in years past, is all about servicing clients and their needs. Working in a collaborative environment, where ALL team members filter their thoughts on how to effectuate change to YOUR bottom-line. American Global has adopted this philosophy and it has become our culture, illustrated by our results. […]
By Nico van Zyl and Paul Edwards Hannover Re Understandably, there has been a focus in medicine and among governments on dealing with the devastating impact of the pandemic. However, there is less comment about the psychological effects of social isolation, the tsunami of grief as people cope with losses – all dovetailing with financial […]
The simple answer is “yes” and “no.” The more difficult question to answer is how to quantify the savings, if any. A report from the Insurance Services Office (ISO) commented: 1. Insurers consider fraud a serious problem but their companies’ Anti-fraud efforts are only moderately effective; 2. Sixty-eight percent say their companies’ anti-fraud programs address […]
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