<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>Industry News | Insurance Advocate</title> <atom:link href="https://www.insurance-advocate.com/tag/industry-news/feed/" rel="self" type="application/rss+xml" /> <link>https://www.insurance-advocate.com</link> <description>Since 1889</description> <lastBuildDate>Tue, 28 May 2024 18:01:15 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <item> <title>Finseca’s 2024 Hall of Fame Inductees Announced</title> <link>https://www.insurance-advocate.com/2024/04/15/finsecas-2024-hall-of-fame-inductees-announced/</link> <dc:creator><![CDATA[Insurance Advocate]]></dc:creator> <pubDate>Mon, 15 Apr 2024 13:37:37 +0000</pubDate> <category><![CDATA[2024]]></category> <category><![CDATA[April 2024]]></category> <category><![CDATA[Industry News]]></category> <guid isPermaLink="false">https://www.insurance-advocate.com/?p=14714</guid> <description><![CDATA[<p>Finseca has announced that Anthony T. Mazzei, Sr., Chairman and Founding Partner at National Financial Network, an agency of The Guardian Life Insurance Company of America (Guardian); first-ever female inductee, Deb White, District Manager at Farm Bureau Financial Services; and Howard Cowan (recognized in memoriam), formerly with MassMutual, were honored with the prestigious Finseca Hall […]</p> The post <a href="https://www.insurance-advocate.com/2024/04/15/finsecas-2024-hall-of-fame-inductees-announced/">Finseca’s 2024 Hall of Fame Inductees Announced</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1">Finseca has announced that Anthony T. Mazzei, Sr., Chairman and Founding Partner at National Financial Network, an agency of The Guardian Life Insurance Company of America (Guardian); first-ever female inductee, Deb White, District Manager at Farm Bureau Financial Services; and Howard Cowan (recognized in memoriam), formerly with MassMutual, were honored with the prestigious Finseca Hall of Fame Award at the Leaders and Managers Program (LAMP) 2024 in Denver, CO. Mazzei, White, and Cowan are being inducted into the 2024 Hall of Fame class because of their demonstrated commitment to leadership, mentorship, advocacy efforts, and improving the lives and financial security of countless clients.</p> <p class="p1">“We are thrilled to announce this year’s Hall of Fame class,” said Bonnie Godsman, Finseca’s President. “These three leaders exemplify the pinnacle of excellence in our profession. It is an honor and a privilege to commemorate their outstanding contributions. Their selfless dedication to serving their clients and communities as well as prioritizing others’ needs sets an inspiring example for us all.”</p> <p class="p1">These financial security professionals are not only experts at building world-class agencies or firms, but they also elevate the financial security profession by serving and educating their communities, championing professional development, and advancing the mission and work of the profession.</p> <p class="p1">Finseca’s Hall of Fame Award is regarded as the highest honor bestowed upon distinguished insurance and financial security leaders. Nominees were evaluated by the Hall of Fame Selection Committee, which assessed each nominee’s history and accomplishments in four categories:</p> <p class="p1">1 Advancing the art and science of agency/firm building.</p> <p class="p1">2 Advancing the mission and work of the financial services industry.</p> <p class="p1">3Enhancing the quality of public and private life.</p> <p class="p1">4 Promoting professional education in the financial services industry.<span class="s2"> [</span><span class="s3"><b>I</b></span><span class="s4"><b>A</b></span><span class="s2">]</span></p>The post <a href="https://www.insurance-advocate.com/2024/04/15/finsecas-2024-hall-of-fame-inductees-announced/">Finseca’s 2024 Hall of Fame Inductees Announced</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>Distracted Driving Report: New Research</title> <link>https://www.insurance-advocate.com/2024/04/15/distracted-driving-report-new-research/</link> <dc:creator><![CDATA[Insurance Advocate]]></dc:creator> <pubDate>Mon, 15 Apr 2024 12:36:52 +0000</pubDate> <category><![CDATA[2024]]></category> <category><![CDATA[April 2024]]></category> <category><![CDATA[Industry News]]></category> <guid isPermaLink="false">https://www.insurance-advocate.com/?p=14712</guid> <description><![CDATA[<p>Road trip season is upon us, and with higher traffic levels comes more distracted driving. Auto insurance rates are now at the highest levels in 50 years, so the cost of repairs that may come from distracted driving is also up. Ahead of this year’s Distracted Driving Awareness Month (April), there is new research under […]</p> The post <a href="https://www.insurance-advocate.com/2024/04/15/distracted-driving-report-new-research/">Distracted Driving Report: New Research</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1">Road trip season is upon us, and with higher traffic levels comes more distracted driving. Auto insurance rates are now at the highest levels in 50 years, so the cost of repairs that may come from distracted driving is also up. Ahead of this year’s Distracted Driving Awareness Month (April), there is new research under embargo from telematics company Arity which has over 1 trillion miles of driving behavior data from 40M+ vehicle connections in its dataset.</p> <p class="p2">Topline finding: 68% of 1,000 surveyed US drivers agree that distracted driving is extremely unsafe, but Arity’s dataset found a 30% increase in distracted driving per mile between 2019 and 2023 – up 7% in 2023 alone. Could this increase be driving car insurance rate hikes?</p> <p class="p2">When asked what drivers see as their biggest road distractions:</p> <p class="p2">A majority (Nine in 10 drivers) agree that driving under the influence, ignoring traffic signals, and distracted driving are unsafe behaviors – yet they happen daily.</p> <p class="p2">Only four in 10 drivers see hard braking (38%) and speeding (42%) as extremely unsafe</p> <p class="p2">The National Highway Traffic Safety Administration<span class="Apple-converted-space"> </span>reports that speeding-related crashes make up almost all of traffic fatalities</p> <p class="p2">24% of drivers see fast acceleration as a neutral behavior, and 11% see it as safe.</p> <p class="p2">Evening commutes bring greater distractions – the highest levels of distracted driving in 2023 took place during weekday afternoons from 3 – 6:59 p.m. (AKA workday commutes home). <span class="s2">[</span><span class="s3"><b>I</b></span><span class="s4"><b>A</b></span><span class="s2">]</span></p>The post <a href="https://www.insurance-advocate.com/2024/04/15/distracted-driving-report-new-research/">Distracted Driving Report: New Research</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>Hagerty Announces 2023 U.S. Bull Market List</title> <link>https://www.insurance-advocate.com/2022/12/20/hagerty-announces-2023-u-s-bull-market-list/</link> <dc:creator><![CDATA[Insurance Advocate]]></dc:creator> <pubDate>Tue, 20 Dec 2022 02:50:35 +0000</pubDate> <category><![CDATA[2022]]></category> <category><![CDATA[December]]></category> <category><![CDATA[Industry News]]></category> <guid isPermaLink="false">https://www.insurance-advocate.com/?p=13559</guid> <description><![CDATA[<p>Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider, announced its 2023 U.S. Bull Market list, an annual collection of enthusiast cars and vehicles with the best potential to hold or increase in value in the coming year. In its 6th year, the list is compiled using data from public and […]</p> The post <a href="https://www.insurance-advocate.com/2022/12/20/hagerty-announces-2023-u-s-bull-market-list/">Hagerty Announces 2023 U.S. Bull Market List</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1">Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider, announced its 2023 U.S. Bull Market list, an annual collection of enthusiast cars and vehicles with the best potential to hold or increase in value in the coming year. In its 6th year, the list is compiled using data from public and private sales, insurance valuations and historical trends.</p> <p class="p1">“Bull Market is a guide for enthusiasts of all types to find, buy and drive something they love while also making a good investment,” said Hagerty Senior Vice President of Media and Editorial Larry Webster. “Buying an enthusiast vehicle can be a big decision but the good news is that we’ve done the legwork for you by using the best valuation data and market insights analyzed by our team of experts.”</p> <p class="p1">“This year’s Bull Market list includes a diverse range of vehicles, including microcars, muscle cars, sports cars, exotics, a motorcycle, and even a military-grade SUV. The common factor is timing — even against the current economic backdrop, we believe this group is poised to grow the most in value next year,” said Vice President of Automotive Intelligence Brian Rabold. “Buying a fun car while it’s on the way up means you can use and enjoy it while likely coming out ahead when it’s time to sell.”</p> <p class="p1">The 2023 U.S. Bull Market list (excellent condition price range):</p> <p class="p3"><b>1992–2006 AM General Hummer H1 ($105,000–$127,300)</b></p> <p class="p1">There’s something undeniably appealing about a utilitarian, no-frills off-roader, and they don’t get more rugged and ready for action than the Hummer H1. Gen Xers (the biggest fans of collectible SUVs) own over half of all H1s protected by Hagerty, but millennial quotes are up to almost a third, which has doubled since 2020. Meanwhile, appreciation since 2019 has lagged, with an increase of only 9.9%. It seems the H1 may be overdue for a price increase.</p> <p class="p3"><b>1968–1970 AMC AMX ($30,500–$40,600)</b></p> <p class="p1">An underdog in the pony car world of Camaros and Mustangs, the stylish two-seat AMX is an incredible value, but for how long? The AMX has appreciated 28.8% since 2019, which is behind the ’67–69 Camaro (up 40.5%). However, interest from next-generation enthusiasts has nearly tripled since 2019, from a share of 13% to 38% of insurance quotes, suggesting these will continue to hold or increase in value.</p> <p class="p3"><b>2008–2015 Audi R8 (Manual) ($154,000–$186,700)</b></p> <p class="p1">The R8 has always been a special car, and a huge part of that appeal lies in the examples that came equipped with a manual transmission sprouting from a metal gate—a nod to classic Ferraris and Lamborghinis that came before. Insurance policy growth is more than three times faster than the Hagerty average over the past 5 years. Lookups on Hagerty Valuation Tools have doubled in the past 12 months, and they lead lookups for the similar Lamborghini Gallardo. R8 values are up 37% since 2019 with plenty of room to continue climbing.</p> <p class="p3"><b>2001–2004 Chevrolet Corvette Z06 ($31,400–$39,300)</b></p> <p class="p1">A supercar in disguise, the C5 Z06 is a trackday monster that is also easy to live with on a daily basis. Lookups for the C5 Z06 on Hagerty Valuation Tools have more than tripled since 2021 – a strong indicator of an impending climb. In addition, an equal share of insurance quotes come from boomers, Gen X, and millennials, showing that demand is spread evenly throughout the market.</p> <p class="p3"><b>1936–1947 Harley-Davidson Knucklehead ($90,300–$115,000)</b></p> <p class="p1">Throw a leg over this low and long cruiser and you’ll have some idea what freedom and rebellion meant in postwar America. Knucklehead owners are nearly three times more likely than Indian Chief owners to be under 45 years old. And those younger enthusiasts are insuring Knuckleheads for 15% more than boomers. As far as motorcycles go, the Knucklehead has a bright future with the next generation taking up the torch.</p> <p class="p3"><b>2001–2010 Lamborghini Murciélago ($302,700–$342,700)</b></p> <p class="p1">It’s hard to argue against a 632-horsepower V-12 barking to 8,500 rpm just over your shoulder. If that’s your thing, grab one of these wild Lambos now. Values for the Murciélago are up 48% since 2019 but have lagged behind cars like the Porsche Carrera GT, which doubled in value over the same period. As next-generation enthusiasts are a growing share of owners (approaching 2/3), values for the Murciélago appear poised for more appreciation.</p> <p class="p1">2004–2010 Mercedes-Benz SLR McLaren ($329,300–$380,700)</p> <p class="p1">If ever there was an underappreciated hypercar, the SLR McLaren is it. While values for the Porsche Carrera GT have more than doubled since 2019, the SLR has increased a modest 37%. The SLR has long held a large premium over its spiritual successor, the SLS, but the value gap narrowed to only 7.4% in July 2022. In the third quarter of 2022, the SLR premium widened again, to 23%, with younger buyers fueling much of the demand.</p> <p class="p3"><b>2003–2008 Nissan 350Z ($37,500–$44,900)</b></p> <p class="p1">The 350Z arrived at the perfect time, giving Nissan a new performance car it could be proud of and enthusiasts a reason to fall in love with Z cars all over again. Average #2 values for the 350Z have increased 78% since the start of 2021—the largest increase for any Z aside from the 1978–83 280ZX, which doubled in that time. Boomers still own the majority of 350Zs, but 19% of new policies added in 2022 were from buyers under 40.</p> <p class="p3"><b>1985–1993 Saab 900 Turbo ($22,200–$25,800)</b></p> <p class="p1">If quirky, practical performance appeals to you, the 900 Turbo is calling. Increasingly owned by next-generation enthusiasts, the Saab 900 Turbo appears to be trending towards faster appreciation. Owners under the age of 40 have tripled since 2019 from a share of 7% to 22%.</p> <p class="p3"><b>1991–1998 Suzuki Cappuccino ($12,200–$16,700)</b></p> <p class="p1">The 63-horsepower Cappuccino won’t win any stoplight battles, but in the turns it’s a Miata on a diet and sure to surprise more than a few folks in your rearview. Millennial and Gen Z enthusiasts submit over 80% of insurance quotes, which assures there will be a dedicated following for the Cappuccino in the future. It’s nearly impossible to find a more interesting car for under $10,000.</p> <p class="p3"><b>1984–1988 Toyota Pickup 4×4 ($20,700–$26,700)</b></p> <p class="p1">If you’re into vintage 4x4s but have been priced out of Land Cruisers and Broncos, consider Toyota’s robust, handsome second-generation pickup. The number of Toyota Pickups added to Hagerty policies has quadrupled since 2017, with younger collectors as the fastest-growing segment. Although boomers currently own 43% of them, collectors under 40 more than doubled their ownership share since 2019, from 7% to 16%, ensuring a healthy appreciation for the model in the future.</p> <p class="p6"><em><span class="s5">Based in Based in Traverse City, Michigan, Hagerty’s purpose is to save driving and car culture for future generations and its mission is to build a global business to fund that purpose. Hagerty is an automotive enthusiast brand offering integrated membership products and programs as well as a specialty insurance provider focused on the global automotive enthusiast market. Hagerty is home to Hagerty Marketplace, Hagerty Drivers Club®, Hagerty Drivers Club magazine, Hagerty Drivers Foundation, Hagerty DriveShare<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" />, Hagerty Valuation Tools®, Hagerty Media, MotorsportReg, Hagerty Garage + Social®, The Amelia, the Detroit Concours d’Elegance, the Greenwich Concours d’Elegance, the California Mille, Motorlux, RADwood, Broad Arrow Group and more. For more information on Hagerty please visit www.hagerty.com, or connect with us on Facebook, Instagram and Twitter.</span></em></p>The post <a href="https://www.insurance-advocate.com/2022/12/20/hagerty-announces-2023-u-s-bull-market-list/">Hagerty Announces 2023 U.S. Bull Market List</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>GUARD Now Writing Disability Insurance in New York</title> <link>https://www.insurance-advocate.com/2012/08/20/guard-now-writing-disability-insurance-in-new-york/</link> <dc:creator><![CDATA[Insurance Advocate]]></dc:creator> <pubDate>Mon, 20 Aug 2012 13:11:30 +0000</pubDate> <category><![CDATA[2012]]></category> <category><![CDATA[August 20]]></category> <category><![CDATA[Past Issues]]></category> <category><![CDATA[Industry News]]></category> <guid isPermaLink="false">http://gator4211.hostgator.com/~cinnww/insurance-advocate.com/?p=3731</guid> <description><![CDATA[<p>GUARD Insurance Group has announced the immediate availability of a new Disability insurance product in New York. Statutory coverage will be offered through independent agents appointed by GUARD for the state, and a number of optional enhancements will be available. According to GUARD’s Executive Vice President of Insurance Operations Marshall Kornblatt, “We see Disability Benefits […]</p> The post <a href="https://www.insurance-advocate.com/2012/08/20/guard-now-writing-disability-insurance-in-new-york/">GUARD Now Writing Disability Insurance in New York</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p><strong>G</strong>UARD Insurance Group has announced the immediate availability of a new Disability insurance product in New York. Statutory coverage will be offered through independent agents appointed by GUARD for the state, and a number of optional enhancements will be available.</p> <p>According to GUARD’s Executive Vice President of Insurance Operations Marshall Kornblatt, “We see Disability Benefits insurance as a natural complement to our longterm specialty. Through our Workers’ Comp policies, we provide wage-replacement for job-related illnesses and injuries. This new venture will allow us to do the same for non-occupational situations.” Kornblatt adds, “Our ultimate objective is to become a one-stop insurance shop for small- to mid-sized businesses. Through Disability insurance, we move closer to that goal by essentially offering around-theclock protection against unexpected loss of income.”</p> <p>For those businesses that want to provide more than the statutory minimum, GUARD is also featuring an In-Hospital Rider (which eliminates the waiting period), Enriched Benefit alternatives (at either 2X or 3X the Statutory level), and an AD&D (Accidental Death and Dismemberment) Rider.</p> <p>GUARD’s Vice President of Regional Sales Dave Simmons, who has been involved throughout the development of the program, says, “We realize that many business owners will want to provide an additional cushion for their people, so we incorporated enough options to have a suitable policy for almost everyone within our targeted niche. Since DBL premiums tend to be modest, we see our enriched options being attractive to many employers.” Simmons notes, “A half dozen states currently make Statutory Disability mandatory, so we considered various locations for our launch. We chose New York, in part, because of the enthusiastic response from both agents and businesses to our products in the past. A couple of years ago, we introduced BizGUARD Plus in New York, and the state quickly became our largest producer of BOP sales.”</p> <p>In 2009, GUARD began offering a multi- policy small business solution in New York that included Workers’ Comp as well as a Businessowner’s Policy (BOP) and Commercial Excess coverage. Marketed under the name BizGUARD Plus, this branded product found a substantial audience among restaurants, supermarkets, and other targeted classes, writing in-force policies totaling $60.5 million in the state as of March 31st, 2012.</p> <p>GUARD’s Disability policy will offer quarterly or annual payments to operations with more than 10 employees (just annual for those with less than 10) and will provide a generous commission for agents. While multiple methods of receiving applications will be accommodated, the product has been engineered to take advantage of webbased submissions and self-service as much as possible to achieve maximum efficiencies and control of expenses.</p> <p>According to Kornblatt, “Before R&D ever started, we realized that a number of very good markets already existed in New York, but we are firm believers that brand does make a difference. For the past 30 years, GUARD has worked to establish a reputation for bringing good value to customers through an advantageous combination of good price, superior service, sophisticated technology tempered by personalized attention, and overall convenience and ease of use. We are hoping this brand identity will persuade producers to give our new DBL offering a try.” The company’s Chief Operating Officer Carl Witkowski is credited with defining the sales approach GUARD will be taking. Witkowski explains, “We believe cross sales of Disability insurance to our Workers’ Comp policyholders will be our primary source of new business. DBL has a reputation for being uncomplicated, inexpensive, and necessary . . . so we saw a chance to learn a lesson from our friends in the fast food industry. Have you ever ordered a hamburger and been asked, ‘Would you like fries with that?’ Such a simple but extremely powerful strategy! Well, we intend to do the same. When a producer asks us for a Comp quote, we plan to ask whether we can provide one for Disability as well. In fact, we have programmed our web-based submission engine, GUARD E-Z Rate, to be smart enough to ask the question on our behalf in appropriate situations . . . and we’ve taken measures to ensure the process is as simple and as paperless as possible for the agent – including the elimination of unnecessary duplicate data entry.”</p> <p>Rated “EXCELLENT” by A.M. Best Company, GUARD has grown significantly over the past several years during a time when most carriers (and the industry at large) saw total premiums shrinking. From 2009 through 2011, GUARD’s direct written premium increased by 58%. Over a 12- month period ending March 31st of 2012, a 34% sales gain was realized – while maintaining profitability. GUARD’s combined ratio for Workers’ Comp (which still constitutes over 90% of the group’s volume) is well under 100%, prompting A.M. Best to note in the most recent company narrative, “On a combined ratio basis . . . GUARD’s results outperformed the Workers’ Compensation composite over the recent five-year period.” In July of 2012, GUARD was also named to the 2012 Ward’s 50 group of top performing Property and Casualty companies. Annually, the Ward Group analyzes over 3,000 organizations, using an extensive battery of safety and consistency screens to identify superior performers over the five-year period being analyzed. Licensed in 45 states plus the District of Columbia, GUARD is currently active in 29 and writes policies for over 60,000 small businesses. Kornblatt believes that the company will begin exploring the possibility of writing Statutory Disability coverage in New Jersey in the near future, though no exact time table has yet been set.</p> <p>Agents interested in learning more can contact the company on-line at www.guard.com/apply or by phone at 1- 800-673-2465 (extension 4567).</p>The post <a href="https://www.insurance-advocate.com/2012/08/20/guard-now-writing-disability-insurance-in-new-york/">GUARD Now Writing Disability Insurance in New York</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> </channel> </rss>