Highlighting News, Trends and Best Practices in Risk Management and Property & Casualty Insurance

Ironwood Insurance Services Acquires Citywide Insurance

Posted by Ironwood Insurance on Nov 5, 2018 2:58:00 AM

 ATLANTA, November 5, 2018 – Ironwood Insurance Services today announced the acquisition of Citywide Insurance Agency.

Founded in 1993 by Robert Sherrell, Citywide Insurance provides a full suite of personal insurance products and services to individuals and families throughout Georgia and the Southeast. Robert and his staff will continue in their current roles and will move into the Ironwood offices off Northside Parkway.  With this acquisition, Ironwood is now able to offer personal lines coverage to individuals and families and cover their entire portfolio of personal assets including primary and secondary homes, personal autos, farms, jewelry and art collections

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Topics: PressRelease, Acquires, Citywide Insurance Agency

The Importance of Director’s and Officer’s Insurance for Privately Held Companies

Posted by Ironwood Property & Casualty Insurance Brokerage on Nov 1, 2018 12:21:31 PM

In today’s environment, companies face scrutiny at every turn, especially on the directors’ and officers’ levels. Lawsuits have become increasingly normal for many, and without the right insurance coverage, companies are risking their reputation and their wallets.  

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Topics: Director's, Officer's, D&O Liability, Publicly traded companies, Privately held companies, Lawsuits

How is Your Company’s Experience Modification Impacting Your Workers' Compensation Insurance Costs?

Posted by Ironwood Property & Casualty Insurance Brokerage on Sep 25, 2018 1:15:00 PM

Emphasizing employee safety in the workplace not only protects employees, but also a company’s bottom line.  Workers’ Compensation claims can be extremely costly and drawn out depending on the type of injuries and litigations surrounding them.  Additionally, and often unnoticed, a company’s experience modification factor or “mod” can also create major cost implications.

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How ESOPs and Continuity Planning Affect Surety Bonding

Posted by Ironwood Property & Casualty Insurance Brokerage on Aug 31, 2018 11:33:41 AM

When it comes to succession planning, most people think of protecting their legacy by arranging their personal estates ahead of time, and the same holds true for business operations. Depending on if and how continuity plans are structured, a company may become employee-owned through an ESOP (Employee Stock Ownership Program).  The stability of ESOPs can strongly influence the outcome of obtaining surety bonding and are often underutilized in the construction industry.  There are many factors in bond underwriting, but one of the most under-discussed is continuity planning.

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State of the Property and Casualty Market - Q2 2018

Posted by Matt Hene on Jul 17, 2018 4:01:43 PM

As we enter into the second half of 2018, the state of the Property & Casualty (P&C) market looks strong with multiple sources of opportunity on the horizon.  One thing is certain, after the catastrophic damage from 2017, underwriters are taking a more in-depth look into potential risks. Brokers with a “client-first” mentality are setting themselves apart from the competition by working intensely with their clients to put policies into place that mitigate risks and keep premiums as low as possible.

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Topics: insurance premiums, property and casualty, multi-family, hospitality, earthquake, general liability, cyber security

Business Interruption Insurance-The Coverage No Company Can Afford To Be Without

Posted by Ironwood Property & Casualty Insurance Brokerage on Jun 18, 2018 2:57:52 PM

According to a recent report from the National Center for The Middle Market, 21% of Middle Market businesses have experienced a business interruption loss as the result of damage to their facilities and of this number, only 77% completely recover from this loss.  Every company’s worst nightmare is a disaster striking, causing significant damage to its infrastructure and a shutdown of operations. The damage to buildings and contents are just the tips of the icebergs. The resulting loss of business income and continuing expenses that continue during the rebuilding can be far greater than the cost to repair the damage. Business Interruption insurance can be the difference between being able to focus on strategically planning the company’s next steps while rebuilding or having to permanently close the doors.  With that said, simply having Business Interruption coverage may not provide the coverage you need following a loss, therefore, it is important to make sure you have the appropriate language and limits in place prior to a loss.

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Topics: property and casualty, business interruption, Recovery period, payout, disaster, closed, claim

Active Shooter: understanding your risk and the impact to your business

Posted by Matt Hene on Apr 5, 2018 8:30:32 AM

It’s safe to say that most companies underestimate how susceptible they are to workplace violence and an active shooter and threat scenario. While there are some industries that are more prone to incidences, workplace violence is a threat to all work environments. It is in the best interest of all business owners, board of directors, leaders and managers within each organization to assess the exposure, communicate and educate your workforce, and manage the risk to protect your assets and financial interest.

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Topics: claim, losses, insurance premiums, hurricane, Risk Management, mitigate risk, active shooter, workplace violence

Commercial Property & Casualty Picking Up and Dusting Itself Off After An Unprecedented 2017, Leaving Scars for 2018

Posted by Matt Hene on Mar 27, 2018 11:49:43 AM

The commercial insurance industry is comprised of a complex blend of risk assessment, prevention, and circumstances that are many times left in the hands of Mother Nature.  Underwriters and insureds go to great lengths to ensure that every preventive measure and precaution is taken to mitigate the risk, but all the best practices, experience and prevention could not control the detriment that Mother Nature would cause in 2017.  Now, in 2018, the insurance industry is trying to pick itself up and dust off after suffering from a $23.5 billion industry loss last year after $52.9 billion of catastrophic claims were filed. 2 To say that these figures will impact 2018 would certainly be an understatement.

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Topics: claim, losses, auto, auto costs, insurance premiums, hurricane, storm damage, catastrophic, Risk Management, mitigate risk

Ironwood Insurance Services Welcomes Douglas Susco as Client Executive

Posted by Ironwood Property & Casualty Insurance Brokerage on Mar 2, 2018 9:46:26 AM

In the News:

Ironwood Adds Risk Management Veteran to Its Property and Casualty Team 

ATLANTA, GA (March 1st, 2018) - Atlanta-based Ironwood Insurance Services announced today that Doug Susco will serve as Ironwood’s newest Client Executive/Producer.  Susco brings with him almost a decade of experience working within the commercial property and casualty insurance industry on both the carrier and broker side.

Will Underwood, President of Ironwood said “We are thrilled to have such a talented individual join our team.  We expect him to do great things and have a long, successful career at Ironwood.”

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Topics: PressRelease, New Hire, Property&Casualty

Top 4 Operational Risks of 2017 Leading the Way into 2018

Posted by Matt Hene on Dec 21, 2017 2:15:13 PM

As 2017 winds down and 2018 is practically knocking at the door, it has been a year resulting in much economic prosperity for many, but also has presented many corporations with large windows of risk.  Some of these risks are common from year to year and ebb and flow due to economic conditions. However, some risks, like cybersecurity, seem like they are nasty viruses that are constantly morphing and evolving to their environment, always staying one step ahead.

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Topics: claim, losses, insurance premiums, Risk Management, prosperity, economic, cybersecurity, geopolitical, regulatory laws, employment, property and casualty