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

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

Overcoming the Obstacles in Obtaining Multi-Family Real Estate Insurance

Posted by Ironwood Property & Casualty Insurance Brokerage on Dec 14, 2017 3:32:31 PM

The summer of 2017 brought a plethora of catastrophic insurance events including:  hurricane heavy-hitters Harvey, Ivan, and Maria, two earthquakes in Mexico and scorching wildfires in California causing over $100 billion in insured losses.1 The rising costs of property and casualty (P&C) rates are no secret and our projection is that these increases will continue through at least the first part of 2018. This along with the unique exposures faced by multi-family owners and managers poses a challenge for their insurance renewal. Despite these increasing costs, losses and the inherent risks that may come with writing coverage on Multi-Family Real Estate business, a well-informed property owner partnering with an experienced broker with industry knowledge, can work together to obtain a comprehensive program at the best possible price and coverage terms.

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Topics: insurance program, capital, insurance obstacles, real estate, multi-family

Surety Bond Program for Companies Owned by Private Equity Funds

Posted by Will Underwood on Nov 2, 2017 3:08:12 PM

Traditionally, the Surety Industry has been reluctant to provide a bond line for a company whose ownership is being transferred to a Private Equity Fund. The only option for a Private Equity Sponsor during the diligence phase has been to approach the existing bond carrier with the assistance of management and the existing surety broker. Quite often the broker and surety are uncomfortable with a Private Equity transaction’s leveraged balance sheet. As a result, the existing surety requires additional security in the form of personal, outside indemnity, or a letter of credit in the amount of 50% to 100% of the outstanding bond exposure. With that said, the majority of surety underwriters will decline to participate on a post-close basis.

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Topics: bond, private equity, funds, surety, insurance program, capital

Auto Related Costs Accelerating…Here’s How to Stay Ahead of Them

Posted by Matt Hene on Oct 20, 2017 5:03:34 PM

Company auto-related costs are accelerating as new technology becomes available, creating more expensive cars with more distracted drivers. The distractions come in various forms: from high-tech computer systems integrated in the car to the already dangerous situation of using a cell phone while driving. Because the cost of vehicles continue to increase, the cost of repairing damaged vehicles is also increasing. Companies that operate a fleet of vehicles should be aware of all the risks and have plans in place to reduce these risks.

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Topics: claim, losses, auto, insurance premiums, auto costs

Full Costs of the 2017 Hurricane Season Still Climbing

Posted by Frank Eldridge on Oct 9, 2017 2:49:33 PM

Written by Frank Eldridge and Matt Hene

In recent weeks, three major hurricanes have made landfall in the Caribbean and the continental United States. Hurricanes Harvey, Maria and Irma left widespread damage throughout the Caribbean and Puerto Rico, as well as, the East and Gulf coasts of the United States. While many in the affected areas have had power and water services restored, others are still without these vital services. While these storms have proven to be costly, businesses that have insurance coverage are experiencing a slow and tedious claims process. 

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Topics: claim, hurricane, losses

Risk Management: Mergers & Acquisitions Webinar on March 23rd

Posted by Rachel Smith on Mar 20, 2017 2:54:59 PM

Join Ironwood Partner/Vice President, Rick Frederick, as he joins the panel discussion on highlighting the role a robust diligence process plays in a successful transaction. This panel of highly esteemed experts will emphasize how risk/insurance, legal and accounting diligence are interconnected and critical components of the overall diligence effort.

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Topics: Property&Casualty, Insurance, Risk Management, Webinar, Mergers, Acquisitions, Due Diligence

Ironwood Insurance Services Welcomes Tanya Roberts, CIC, CISR, as Account Executive

Posted by Rachel Smith on Jul 29, 2016 12:21:26 PM

Ironwood Insurance Services is pleased to announce the addition of its newest Property & Casualty Insurance and Risk Management Account Executive, Tanya Roberts.

Ironwood Insurance Services is an Atlanta-based brokerage firm specializing in serving the middle market in the areas of risk management, property and casualty insurance, employee benefits and custom HR solutions. Committed to offering highly specialized resources with a strong, dedicated service team, the firm has grown significantly since its founding in 2007. The firm is pleased to announce the addition of Tanya Roberts, CIC, CISR, to its team as an Account Executive.

Ironwood's property & casualty insurance professionals have specialized knowledge and insights on a diverse range of products and services. Taking the time to understand each client's unique business needs, Client Executives design the appropriate risk management program and help implement a hands-on service plan.

“We’re excited to have Tanya join the Ironwood team. With her experience serving risk management accounts, having built strong underwriting relationships, and her commitment to community service, Tanya will add significant value to Ironwood and our clients” says Matt Hene, Partner at Ironwood.

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Topics: Property&Casualty, PressRelease, New Hire

In the News: Ironwood's International Insurance Practice Expands

Posted by Rachel Smith on Apr 4, 2016 6:30:00 AM

IRONWOOD INSURANCE AND EMPLOYEE BENEFITS SERVICES GROWS INTERNATIONAL PRACTICE ADDING CRAIG PERRY AS SENIOR VICE PRESIDENT

ATLANTA, Georgia, April Fourth, 2016-- Atlanta based Ironwood Insurance Services is an insurance brokerage firm specializing in serving the middle market in the areas of risk management, property and casualty insurance brokerage and employee benefits brokerage and consulting. The firm announced today that it has expanded its International Insurance Practice with the addition of Craig Perry to the team.

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Topics: WBN, PressRelease, New Hire, International Insurance Brokerage

Working From Home

Posted by Rachel Smith on Apr 1, 2016 11:52:38 AM

Trending Topic: Working From Home

With longer commutes, improved technology and flexible work schedules, more businesses are allowing employees to work from home or telecommute.

The numbers of telecommuters are increasing. Are businesses managing the risks involved in employing a telecommuting workforce?

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Topics: EmployeeBenefits, Risk Management, Employer Services, Talent Management, Trending Topic, Liability, Telecommuting

2016 P&C Insurance Market Outlook

Posted by Rachel Smith on Jan 29, 2016 7:00:00 AM

What To Expect:

As we move into 2016, Ironwood is prepared to provide our clients with professional council on all of their risk and insurance needs.  

"2016... The Year Ahead" reviews highlights from the past year in the Property and Casualty Insurance Marketplace and predicts what will happen in 2016.  

Download our white paper and read what we foresee our industry will experience in the coming months.

Download

 

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Topics: Property&Casualty, Insurance, Insurance Brokerage, Risk Management, Insurance Coverage, Industry Trends