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

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

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

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