#insurance trends in excess casualty | Explore Tumblr Posts and Blogs

thatstormygeek · 5 months

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As the man in line behind me continued to display a stunning lack of spatial awareness with every bump of his suitcase against the back of my legs, I thought fondly back to social distancing and the other public health guidelines ever-so-briefly in place to quell the spread of that pesky pandemic. The guidelines, of course, have been nothing but a remnant for years now, even though at least hundreds (often thousands) of people in the United States are still dying of COVID-19 every week. And sure, the vast majority of those casualties are the elderly and immunocompromised folks. But so what? Do the elderly and immunocompromised not deserve our solidarity? Do they not deserve to get on a plane without fear that the passenger next to them will be ill and unmasked, thus putting them at risk? I do not claim to be exemplary and this is not meant to be preachy so please don’t interpret it as such, but when I see elderly people at an event, or when my friends who are immunocompromised tell me how nervous they get about attending crowded places, I see it as an objectively very minimal sacrifice to put on a mask. But we've been taught to believe that the small things we can do for others are worth less than the minor inconvenience it takes to do them. This lack of community and solidarity, made worse by regulations that encourage individualism above all, bleeds into other areas of life.

Instead of expressing solidarity with unarmed and largely peaceful student protesters and the thousands of faculty members around the country who have joined them, I have seen hordes of people — many of whom have remained silent as for months we Americans have continued to fund the annihilation of Gaza — rise up to defend the actions of police departments across campuses. Chilling, when we consider the trends: last year, police killed the highest number of people on record, and those victims were disproportionately young, Black and Latinx. When I see people defend a heightened police presence on college campuses, to me it heavily suggests that they care more about property than they do student safety. As a reminder before the inevitable comment about Buildings comes up: trespassing and the occupation of (heavily insured, mind you) buildings are non-violent offenses and are tactics of civil disobedience that have been used repeatedly in protest movements throughout history. It's just that time works as the great middleman — in a few years, maybe even decades, the same people that today shared their support for the universities risking students' safety to protect property and the illusion of neutrality will unironically share a graphic about the Brave Student Protesters of 2024. We've seen it before. Columbia might even add it to the website.

Was police brutality, to these folks, condemnable solely because we happened to live under a Republican administration when George Floyd was murdered? If police brutality and state violence exist under a Democratic president, Democratic governor, Democratic mayor, and Democratic senators and representatives, are they suddenly unobjectionable? Does a call for law and order suddenly cease to be a dog whistle when it is uttered by a Democratic president? It sure seems like it to some people. ... For some, solidarity has an expiration date, and it is a destabilizing thing to witness whether it comes in the shape of public health or protest movements. To watch university presidents whose supposed calling is education call upon the police, many in riot gear, some deploying tear gas, some beating and arresting students in the middle of the night, some slamming elderly professors to the ground, some using tasers on students, some firing rubber bullets directly at protesters, and all using excessive and disproportionate force, in the name of order, feels like some sort of joke. To hear people defend these actions and cheer for this crackdown of non-violent protest (over mass death made possible with American funds) feels like a nightmare. It didn’t have to come to this. A few institutions have understood that protests and demonstrations are commonplace and expected at universities — Wesleyan University has allowed the student encampment to remain, and at Brown University, the encampment was disbanded after the administration agreed to hold divestment to a vote. Day after day after day for months, we have been witnessing Palestinians getting blown to bits, their hospitals demolished, children starving to death, mass graves discovered, universities destroyed, all with bombs our tax dollars pay for. Students are using their platform and their community, which is the power they have, to demand better from the institutions to which they give their time and money. And instead of listening to the youth, to whom the future belongs, politicians have chosen to vilify them and university administrators have chosen to call the cops on them. It's a shame.

#us politics #campus protests

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thecookgroup · 1 year

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What Does It Take to Succeed in an Insurance Agent Career?

To succeed in the fiercely competitive and constantly changing insurance market, you need a variety of abilities, talents, and character traits. An insurance agent career in this sector is among the most well-liked and lucrative. They are critical in assisting people and organizations to safeguard their assets, manage risks, and guarantee their financial future as an insurance agent. Yet, obtaining a license and having the willingness to sell insurance products is needed to become a successful insurance agent.

What is an Insurance Agent? An insurance agent is a person who has been permitted to offer insurance products to customers on behalf of an insurance company or brokerage.They may work with individual clients, small businesses, or large corporations, and often specialize in certain types of insurance, such as health, life, auto, or property insurance. Additionally, insurance agents are responsible for maintaining client relationships and may follow up with clients to ensure their insurance needs are being met and make recommendations for policy updates or changes.

Education and Certification

In the insurance sector, education is crucial because it gives experts in the field an in-depth understanding of insurance products, assures regulatory compliance, promotes professional development and career progression, aids in staying current with market trends, and enhances customer service. In general, education is essential for insurance professionals to successfully recognize clients' insurance needs, adhere to rules, and deliver excellent customer service.

Types of Insurance Licenses Life Only Agent

The Life-Only Agent is authorized to transact insurance for the risks such as human lives, endowment, and annuity benefits, death benefits or dismemberment by accident, and benefits for disability income (life policies offer riders for death or dismemberment by accident and benefits for disability income; (Life-Only Agent sell all of these products).

Accident & Health Agent

Only individuals with an Accident and Health Agent license are permitted to market Long Term Care plans, Medicare Supplements, and coverage for illness, physical damage, accidental death, and compensation for disability income.

Life & Accident & Health Agent

The following risks are among those that a life agent is permitted to insure: human lives, endowment and annuity benefits, death benefits, dismemberment and accidental death, health and medical benefits for illness, bodily injury, disability income, long-term care plans, and Medicare Supplements.

Personal Lines Broker-Agent

A personal lines broker-agent license is a license to act as a personal lines licensee, which allows a person to conduct business in the areas of automobile insurance, residential property insurance, including earthquake and flood insurance, personal watercraft insurance, and umbrella or excess liability insurance providing coverage when written over one or more underlying automobile or residential property insurance policies.

Broker - Agent Fire & Casualty A fire and casualty license is someone who has been given the go-ahead to represent themselves as an insurance agent, broker, or solicitor. A fire and casualty broker-agent license is a permit to practice. The Fire and Casualty Broker-Agent license often allows the holder to deal in insurance products other than life insurance. They may also cover specialty insurance lines such as home warranty insurance, automobile insurance, commercial general liability, commercial property coverage, contractual liability insurance, crop insurance - disability, dwelling property, earthquake insurance, flood insurance, health insurance, and inland marine.

Developing Sales Skills

The Role of Sales in Insurance

Sales in insurance has a significant role in the industry. Here are some reasons why:

Offering clients insurance premiums to assist insurance firms in making money.

Identification of new customers, comprehension of their insurance requirements, and recommendation of acceptable insurance products are the responsibilities of insurance sales experts.

Plays a crucial part in developing relationships with customers, offering top-notch customer service, and addressing any problems or troubles they might be experiencing.

Good sales strategies and solid client connections may help insurance firms boost profits, expand their clientele, and preserve a good reputation in the industry.

What is Closing Sales? Completing a deal is an important element in the sales process in the insurance sector. Understanding the consumer's needs through actively listening, posing the appropriate questions, and offering specialized solutions are crucial for successfully closing a transaction.

Responding to criticisms is crucial by giving more details, erasing misunderstandings, and proposing ways to reduce hazards. Long-term success also depends on following up with clients and preserving connections by providing information that adds value and consistent contact.

Networking and Prospecting

Networking and prospecting are crucial skills for success in the insurance industry. Here are some reasons why:

Building relationships

Networking allows insurance agents to connect with potential clients and build relationships that can lead to future sales. By attending industry events and joining professional organizations, agents can meet people who may be interested in their services.

Referrals

Networking can also lead to referrals from satisfied clients or other industry professionals. These referrals can be a powerful source of new business.

Targeted prospecting

Prospecting is the procedure of locating potential customers and contacting them. Agents can concentrate their efforts on people or companies most likely to be interested in their services by adopting focused prospecting strategies.

Learning about the industry

Agents may keep current on market trends, new goods, and best practices by attending industry events and networking with other experts.

Cold-calling and other Prospecting Techniques

Prospecting is the practice of locating new customers and contacting them in the insurance market. Agents may utilize different prospecting strategies to broaden their reach, even if networking is a potent approach to creating leads. The following are a few of the most popular prospecting methods employed in the insurance sector:

Cold-calling: This entails contacting potential customers who haven't shown an interest in your offerings.

Email marketing: Sending promotional emails to a list of potential customers is known as email marketing.

Direct mail: It includes distributing marketing materials to a list of prospective customers, such as brochures, flyers, or postcards.

Social media: Social media sites like Facebook, Twitter, and LinkedIn may be effective tools for prospecting.

Referrals: Providing excellent service to existing clients, agents can generate referrals from satisfied customers.

Compensation and Benefits Types of compensation in insurance sales

In the insurance industry, compensation for sales agents can come in several forms. Here are some of the most common types of compensation for insurance sales:

⦁ Commission ⦁ Salary ⦁ Bonuses ⦁ Benefits

Benefits and Perks of an Insurance Agent Career

Working as an insurance agent can provide numerous benefits and perks. Here are some of the most common advantages of an insurance agent career:

Earning potential

As mentioned earlier, compensation for insurance agents can be commission-based, providing the potential for high earning potential with hard work and dedication.

Career advancement

The insurance industry offers opportunities for career advancement, such as becoming a sales manager or branching out into other areas of insurance, such as claims or underwriting.

Rewards and recognition

Many insurance companies offer rewards and recognition programs for their top-performing agents, such as bonuses, trips, and other incentives.

Perks and benefits

Some insurance companies offer additional perks and benefits to their agents, such as health insurance, retirement plans, and paid time off.

Challenges and Strategies for Overcoming Them While there are many benefits to an insurance agent career, there are also common challenges that come with the job. Here are some of the most common challenges in insurance sales:

⦁ Rejection ⦁ Competition ⦁ Keeping up with industry changes ⦁ Meeting sales targets ⦁ Balancing prospecting and servicing existing clients

Strategies for Overcoming Objections Overcoming objections is a crucial part of the insurance sales process. Here are some effective strategies for handling objections:

⦁ Let the customer know you understand and appreciate their concerns. ⦁ Clarify misunderstandings or miscommunications and provide additional information as needed. ⦁ Provide the customer with solutions to address their concerns. ⦁ Emphasize the benefits of your insurance product and how it can meet the customer's needs. ⦁ Use social proof, such as sharing success stories or testimonials from other satisfied customers, to build trust and credibility.

Join Cook Group and Take Your Insurance Agent Career to the Next Level!

If you want to take your insurance agent career to the next level, consider joining The Cook Group. They offer various software solutions that can help with lead generation, customer relationship management, and more. Using our technology, agents can focus on what they do, such as selling insurance and building customer relationships. We are committed to providing the support and resources you need to succeed in this dynamic industry. Contact us today to learn more about how we can help you achieve your goals and excel as an insurance agent.

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advltd · 6 years

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2018 Big Nasty Claims Conference – New York

New for 2018, Advisen will host a half-day conference, focusing on the phenomenon of big, nasty claims in the casualty sector.

Mass torts and class actions with the potential to exceed $100 million take years to settle, tax corporate resources disproportionately, and often bring out the liability sharks.

Aimed at risk managers and claims professionals along with carriers, brokers, and attorneys, this inaugural event seeks to help all parties keep the sharks at bay.

For more info and registration about this upcoming event, visit the link below:

https://www.advisenltd.com/09/20/2018-big-nasty-claims-conference-new-york/

#big nasty claims #2018 big nasty claims #big nasty claims conference #large loss trends in casualty #casualty loss trends #claims management #macro loss #excess casualty #insurance trends in excess casualty #casualty losses

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slfinance · 3 years

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Florida HO Rate Filing... What, Why, When & How?

SL FINANCIAL is an actuarial consulting and advisory firm based in Miami, Florida. We offer complete actuarial solutions in both traditional (re)insurance and alternative risk financing industries.

Ratemaking is the process of establishing rates used in insurance or other risk transfer mechanism. The Statement of Principles Ratemaking sets out four principles for ratemaking:

Principle 1: a rate is an estimate of the expected value of future costs Principle 2: a rate provides for all costs associated with the transfer of risk Principle 3: a rate provides for the costs associated with an individual risk transfer Principle 4: a rate is reasonable and not excessive, inadequate, or unfairly discriminatory if it is an actuarily sound estimate of the expected value of all future costs associated with an individual risk transfer The process is key to General Insurance (GI) or property and casualty (P/C) profitability and as such is covered in typical objectives of insurance regulation:

Maintain insurer solvency Protect insurance consumers Ensure availability of coverage; and Regulate insurance rates Rate regulation has a role in addressing all the objectives of insurance regulation and there is a wide range of rate regulation systems, which includes government-mandated rates at one extreme and open competition at the other (see illustration below):

Rate Regulation

Most rate regulation system allow private insurers to determine their own rates but require justification of these rates to the regulator, who must approve them, based on projections of claims and expenses. Insurers submit projections and forecasts (typically compiled in a rate filing) that are based on historical experience with adjustments, as required, for trend, development, product reforms, law change, etc.

Over the past three years, SL FINANCIAL managed to increase presence in Florida, assisting small and medium size private insurers along with regulator in areas of rate filing, actuarial reserve certification, reinsurance pricing and catastrophe modeling. So, what makes a good Florida Homeowners rate filing?

Know and Follow Instructions – key Florida Statutes include: 627.062 Rate Standards includes the type of filing (e.g. File & Use or Use & File), actuarial documentation showing that rate is not excessive, inadequate or unfairly discriminatory; with consideration given to general accepted and reasonable actuarial techniques, reasonableness of judgment, cost of reinsurance or certification under oath by the CEO/CFO and the Actuary 627.0645 Annual Filings includes annual requirements Key rules from Florida Administrative Code (e.g. 69O-170.0135 Actuarial Memorandum) Consider Filing Presentation – Understand the review process and help the user to navigate Learn from Others – Review recent approved filings and stay informed on current topics SL FINANCIAL developed a unique methodology that aims at simplifying the rate filing process for both the insurer and the regulator i.e. the Florida Office of Insurance Regulation (FLOIR). In particular that process include our Florida Rate Filing Document Mapping tool, that ensure the following part of the filing are submitted appropriately:

Cover Letter Manual Page Checklist Revised Manual Pages Consultant Authorization Letter Catastrophe Modeling Support and Inputs/Outputs Reinsurance Program Support Territorial Rates Support FLOIR Mandatory Forms: Rate Collection System (RCS) Rate Level Exhibits, or Rate Indication Workbook For any question or media inquiry, please visit our website at www.sl-financial.com or contact our team at that [email protected].

#actuarial & risk consulting actuarial & risk consulting services actuarial & risk consultants actuarial analytics and risk consultants comm

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fortunatelyfuturisticmentality · 3 years

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https://ksusentinel.com/2021/03/31/energy-insurance-market-skyrocketing-revenues-by-2028-chubb-aig-axa-zurich-insurance-allied-world-insurance-liberty-mutual/

Energy insurance helps them navigate the challenges and opportunities related to oil and gas exploration and production; the evolution of utility and power-generation technologies; and the development and integration of alternative energy sources, such as wind power and solar energy.

Onshore energy encompasses all aspects of oil, gas and petrochemical operations, such as the complex refining of crude oil, the cracking of hydrocarbons into the many petrochemicals it produces, or the transportation and storage of oil, gas and petrochemicals.

This offshore energy insurance provides property, third party liability, and control of well and business interruption cover for national oil companies, independent operators and drilling contractors involved in the exploration and production of oil and gas.

Downstream energy insurance cover businesses in power generation, electricity supply, renewable energy, oil refining and petrochemical processing, against all risk of direct physical loss or damage to property including business interruption arising.

Request a sample copy of report @ https://www.reportconsultant.com/request_sample.php?id=78795

Key players profiled in the report includes:

Chubb

AIG

AXA

Zurich Insurance

Allied World Insurance

Liberty Mutual

The aim of the report is to equip relevant players in deciphering essential cues about the various real-time market based developments, also drawing significant references from historical data, to eventually present a highly effective market forecast and prediction, favoring sustainable stance and impeccable revenue flow despite challenges such as sudden pandemic, interrupted production and disrupted sales channel in the Energy Insurance market.

This assessment report is a merger of each and every significant datum identifying with imperative and current market unequivocal information that purposely pick the future improvement prospects of the Global Energy Insurance market. This zone of the report further designs to light up report per users about the unequivocal unforeseen developments and calamitous consequences achieved by an astounding scene, for instance, the overall pandemic that has clearly conveyed unrivaled repercussions over the market.

Energy Insurance Market type:

Product Liability Insurance

Multinational Casualty Insurance

Excess Casualty Insurance

Energy Insurance Market application:

Onshore Risks

Offshore Risks

This report is very much recorded to introduce pivotal explanatory survey influencing the Energy Insurance market in the midst of COVID-19 shock. The report is so intended to loan flexible comprehension about different market influencers incorporating an exhaustive boundary examination just as an open door planning that together choose the up and coming development direction of the market. In the light of the waiting COVID-19 pandemic, this carefully drafted research offering is in finished sync with the ebb and flow continuous market improvements just as difficulties that together render substantial impact upon the all-encompassing development direction of the Energy Insurance market.

Besides presenting a discerning overview of the historical and current market specific developments, inclined to aid a future-ready business decision, this well-compiled research report on the Energy Insurance market also presents vital details on various industry best practices comprising SWOT and PESTEL analysis to adequately locate and maneuver profit scope.

Therefore, to enable and influence a flawless market-specific business decision, aligning with the best industry practices, this specific research report on the market also lends a systematic rundown on vital growth triggering elements comprising market opportunities, persistent market obstacles and challenges, also featuring a comprehensive outlook of various drivers and threats that eventually influence the growth trajectory in the Energy Insurance market.

Get reports for upto 40% discount @ https://www.reportconsultant.com/ask_for_discount.php?id=78795

Global Energy Insurance Geographical Segmentation Includes:

– North America (U.S., Canada, Mexico)

– Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

– Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

– Latin America (Brazil, Rest of L.A.)

– Middle East and Africa (Turkey, GCC, Rest of Middle East)

Some Major TOC Points:

Chapter 1. Report Overview

Chapter 2. Global Growth Trends

Chapter 3. Market Share by Key Players

Chapter 4. Breakdown Data by Type and Application

Chapter 5. Market by End Users/Application

Chapter 6. COVID-19 Outbreak: Energy Insurance Industry Impact

Chapter 7. Opportunity Analysis in Covid-19 Crisis

Chapter 9. Market Driving Force

And More…

In this latest research publication a thorough overview of the current market scenario has been portrayed, in a bid to aid market participants, stakeholders, research analysts, industry veterans and the like to borrow insightful cues from this ready-to-use market research report, thus influencing a definitive business discretion. The report in its subsequent sections also portrays a detailed overview of competition spectrum, profiling leading players and their mindful business decisions, influencing growth in the Energy Insurance market.

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orbemnews · 4 years

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Why are commercial insurance prices on the rise? Aon’s report finds that pricing momentum is expected to continue worldwide through 2021, although the approximately US$20 billion of capital that entered the market globally between March and December 2020 could potentially serve to temper any dramatic rate movements. “Pricing in commercial markets continues to rise,” said Stephene Ashikwe (pictured), senior vice president, Aon Global Risk Consulting. “Insurers are withdrawing capacity from key lines of business and geographies worldwide. They’re also tightening up their policy terms and conditions, and the general underwriting process is a lot more rigorous than it ever was before. Pricing was already rising before COVID-19, but the pandemic has exacerbated some pre-existing trends. As a result, we’ve seen both clients and insurers put in place some rigorous controls, and there’s been a lot of revisions to risk appetite and strategy.” Read next: Pandemics not a top risk for 82% of companies pre-COVID-19 The pricing momentum identified in Aon’s Q4 2020 Global Market Insights Report is the conclusion of a longer story, according to Ashikwe. For several years, property & casualty (P&C) insurers worldwide have been investing in core system modernisation and enhanced capabilities around data & analytics, digitalisation, and artificial intelligence (AI), in order to more accurately price risk and determine appropriate market capacity. Insurers are de-risking their portfolios and re-tooling to incorporate data & analytics, which has resulted in more rigorous and technically focused underwriting. At the same time, insureds have grown to expect more customisation and flexibility in risk transfer, and enterprise risk management has reached new levels of complexity and sophistication. All of these changes have impacted pricing in the commercial market. What does this mean for brokers? Insurance brokers must keep up with technical developments in the industry, Ashikwe stressed, not only in terms of risk transfer solutions and products, but also around actuarial science, data & analytics, and how they understand and explain risk-based technical pricing. Read next: Some premiums may double as hard market settles in “In the hardening market, clients and brokers are increasingly using actuarial science to shore up submissions and find better ways to negotiate coverage terms and conditions,” Ashikwe told Insurance Business. “In the past, actuarial science was only really used by insurers for risk-based technical pricing, but now brokers are using it to encourage underwriters to place their business. This market has created somewhat of a team atmosphere between the underwriter, the broker and the client in the sense that clients are actually giving a lot more information to their brokers, and they’re doing that a lot sooner, which is helping brokers to send stronger submissions to the market.” With pricing momentum set to continue, Ashikwe also expects to see further interest and growth in alternative risk transfer (ART) solutions, such as: sustainable balance sheet funding, special purpose reinsurance vehicles, reciprocal risk retention groups, and single-parent or group captive solutions. Commercial interest in ART has grown amidst the COVID-19 pandemic. This trend is unsurprising, given how companies are being forced to retain more risk on their balance sheets at a time when the global economy is strained after 12 months of reduced activity. While the global economy is recovering and unemployment rates are improving, Ashikwe urges “cautious optimism”. He said: “Insurance organisations are going to be really careful in how they manage their balance sheets through [the COVID recovery period]. Having an excess of capital doesn’t necessarily mean we can cover every risk that comes our way. COVID-19 is a prime example of that – many weren’t ready for such a risk to impact us at this level. While companies are re-shaping themselves, I think it’s important to understand it’s all about managing balance sheets better than we’ve done in the past.” Source link Orbem News #Commercial #insurance #Prices #Rise

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pictureperfectdesign · 4 years

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The Significance of Engineering and Engineering Media in Day to Time Life

There is an old expressing which moves something along the lines of'the fact is the very first casualty of war ', and I think that it is particularly applicable as it pertains to the civil conflict that is currently unfolding with soft effects in Syria.

You can find two principal issues as it pertains to learning the facts about what's happening in virtually any conflict. The very first of the issues is the obvious fact that warzones are Belg-nieuws dangerous areas to be at best. Journalist do needless to say get into warzones to supply insurance about what's occurring, but that generally means which they must be stuck with a military system so they have some defense and to ensure that their actions could be knowledgeable by military intelligence which will be maybe not offered to non-military personel. This has its own issues, since the writer can't move wherever they need and only see what the soldiers they are embedded with happen to see. But in Syria actually this is impossible. Rebel soldiers are ill-organised and usually associated with international terrorists, and as they are mainly a guerrilla force rather than normal army they've number appropriate bases and need certainly to dissolve back to the overall populace at times. Therefore journalists cannot actually tag alongside them. On the other area the Syrian regime has restricted all foreign revealing, meaning not only this journalists can't be embedded using them, but also means that there surely is an added layer of threat for just about any journalist seeking to operate independently. All of this combines to mean that it's virtually impossible for almost any skilled journalist to use inside Syria.

The 2nd problem is that both sides of any conflict can attempt to pose the reality to improve their own propaganda efforts. When lives have reached stake this is only to be expected. However when the only path for news press organisations to have information about what's occurring inside Syria is from people involved in the conflict, you will see that makes the information which is being described excessively unreliable.

American media gets the majority of the information they report from either Syrian state TV, or even more generally from an organisation named the Syrian Observatory for Human Rights, which will be located in London and correlates reports sent in from rebel communities across Syria.

Put to this the truth that virtually every place whose government might be expected to possess intelligence reports about Syria has stated help for just one part or another and therefore has a vested fascination with the struggle and you will see that finding neutral media about Syria is essentially impossible.

Have you been pushed by the'get rich fast'fable? Don't enter the trap. It is easy to get rid of but hard to win. You will require enough persistence and require adequate knowledge to produce a tag in the inventory market. An individual will be comfortable and have set goals with the right strategies and as soon as you can learn the complexities of the deal, just then are you able to opportunity for good returns. You need to be able to exactly discover critical industry information or industry data from the stay stock news.

For most novice investors, the many knowledge, maps, and lists exhibited in the live stocks look a bunch of confusion. You need to equip your self with the power of deciphering the best stock recommendations. You might stumbled upon a quantity of inventory guidelines in the live inventory news but it's choosing potential stocks that matters.

How crucial is stock data towards the achievement of your trading objectives? The importance cannot be tested because if you should be perhaps not knowledgeable of what is occurring available in the market, about market variations, about the motion of stock rates, about which industry is getting, and related paraphernalia, you will stay much behind. It is just industry news that may keep you current with the most recent inventory trends. Now, the question is where can you study or view applicable stock industry information that which provides detail by detail information regarding every event concerning the stock.

Certainly it is really a information portal. You cannot depend on magazines since up-to-the-minute market media can't be published; you do get an overview of the last day's or last week's efficiency of the marketplace in the printing media. You can count a bit on television stock industry information but you might not get comprehensive information of what exactly you need as most information goods are included in a matter of 30 minutes or an hour. It's only a media site, preferably an inventory news site that will properly function your purpose. Not all information portals may satisfy your yearning for information. Conduct an investigation and select a platform that contacts information quicker than different platforms. When you can find it, you can generally sign in to that one news site anytime of your day or night as per your ease from the comfort of your space.

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parkerjasmine1996 · 4 years

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how to dispute a homeowners insurance claim

BEST ANSWER: Try this site where you can compare quotes from different companies :bestinsureonline.top

how to dispute a homeowners insurance claim

how to dispute a homeowners insurance claim for an accident. A home policy covers the mortgage and the homeowner is in a rental property. The policy doesn t cover the landlord and the owner of the home and they re not required to own it. It should be mentioned that homeowners insurance policies are more expensive because homeowners insurance is usually based on credit score. Weighing the cost of a home and auto insurance policy with homeowners insurance is a small piece of the equation. The cost of insurance should be personalized and adjusted to reflect the level of risk a homeowner will receive and risk for the insurance companies. That being said, a big part of shopping an area, the lower home s cost, is the fact that there are a lot of neighbors. Because the neighbors will have a greater chance of the same event or getting the same coverage, this is a great place to shop for coverage, looking for any that doesn t fall through the cracks. For example, if you have a who’s had an accident. how to dispute a homeowners insurance claim against a fire and get coverage. An insurance company may want to use an “unreasonable rate” because of a policy you didn’t get, or the insurer isn’t quite as concerned. For example, if your home has certain risk factors, then an insurer may see you as a higher risk, and that means they won’t pay the claim. If you’re unsure of whether an insurance adjuster can work with you and can argue a lower rate against an insurance company based on what they believe is a misrepresentation, or get you a lot of backlash, you can make a claim to your insurer. You can also ask a lawyer for help resolving disputes with your insurer. After you have a claim, it’s essential to follow up with the insurance adjusters in your state. But most states require a number of things, some of which affect insurance claims. For example, you can get help with other types of damage. If you are. how to dispute a homeowners insurance claim or you’d rather spend time buying coverage. It’s smart to call an attorney to review the insurance policy carefully to insure against future claims you file. You must report any suspicious claims to your insurance company so that you have some recourse. For example, you might think that people file accidents and insurance company claims, but many times you don’t, because there are still other ways to get your insurance company to settle your claim. Most auto insurers will not deal with suspicious claims, so if you’re getting a bad credit score, or you’ve been speeding, or you have a history of excessive speeding or reckless behavior, your insurance company may be interested in filing a claim. In , if you file a claim for an (CIG) insurance policy, the insurer will only contact you first - you’d send one or two notice to your insurer. Notifying your insurer of your complaints will also help them determine whether to settle your claim..

Steps To appeal A Home Insurance Claim Decision

Steps To appeal A Home Insurance Claim Decision – A Home Insurance claim will apply to your claims. A claims lawyer can assist the Claim Division in ensuring that the Claim, if considered by an insurance claim decision may be affected. The A Home Insurance claim process is straightforward – and the claims are simple … The process will also require that we do not only seek legal advice from outside expert but also seek the advice of an insurance customer, as well as the advice of an insurance customer to whom their claim is addressed. At Brien’s House there is a wide range of insurance benefits available to anyone who buys a home. The insurance may suit this interest from being covered by a special hazard or fire insurance policy that may or may not be appropriate for their particular situation. The insurer will have access to insurance policies to find the most affordable insurance policy for you and your family’s situation.

Property Damage & Homeowners Insurance ClaimsProperty Damage & Homeowners Insurance Claims Lawyer in Florida

Property Damage & Homeowners Insurance ClaimsProperty Damage & Homeowners Insurance Claims Lawyer in Florida who pays you as an guaranty trust. We can help you decide which insurance coverage is best for your needs and you will get the right coverage and pay for your property and bodily injuries. You will get the amount that is necessary to pay you a large set of bills on a monthly monthly basis - no surprise, but in the event of a car accident it is not your fault. When an employee is injured on the job, they must file a claim for their bodily injuries, and this is the reason the insurance covers the damage to the worker and their family - but it is not always the .

Home Insurance Tips

Home Insurance Tips for the To help you know your options, this is an auto insurance quote comparison tool: Get the best home insurance quotes in Colorado from local agencies by comparing quotes today. If you’ve been in a recent collision, you could receive a fine for not having car insurance. If you were caught driving with a suspended license, the penalty could be much higher. You could also be required to file SR-22 insurance and may need to file an SR-22 (also known as a Certificate of Financial Responsibility) if you don’t have the required insurance. Colorado’s high insurance-welfare law and the state’s aggressive drug task force are part of that trend — but they’re also part of a deeper problem for many states. States spend billions upon billions on roads and bridges, and roadblocks to keeping pace. Insurers here are scrambling to cut costs and create incentive structures to keep pace. But.

Types of Homeowners Insurance Policies

Types of Homeowners Insurance Policies can vary by state and the amount of coverage that you purchase. For instance, in Wisconsin, you always pay your insurance policy for 1-1/2 of the assessed value of your home. In Virginia, you would pay a $50 fee per year to maintain a standard or higher deductible. In Louisiana, you would pay a $100 per year for a standard home insurance policy for 1-1/2 of the assessed value of your home. With more affordable home insurance in Texas and possibly Georgia, you could save even more on homeowners insurance premiums. The SimpleScore makes it easy to compare products and services featured here on The Simple Dollar in a transparent, open and practical way. We rate these products and services using five factors and average them to calculate a single SimpleScore. For auto insurance, we compare: You can read more about each factor and the details of each score in our . Use The SimpleScore to compare products and services in your state: While home insurance.

Contacting the State Insurance Commissioner

Contacting the State Insurance Commissioner office for information is required in order to revoke or deny your license. The process is not as smooth as other similar methods of obtaining license reinstatement. If you have an unresolved issue with the state’s department, you may call the state’s office of insurance. Or, speak to an attorney on or . Below are common questions insurance carriers should ask when processing your appeal. If you don’t answer correctly, the carrier can deny your application for coverage and you could face jail time, fines, and revocation of your driver’s license. If you were initially granted a license, there are other legal issues that insurance carriers consider when processing your appeal, including the process of determining how long you’ll have to wait, who can be identified by a DNA test, and your state’s procedures for obtaining an insurance policy. If the carrier accepts your application for reinstatement, it’s likely that the carrier will issue an incorrect response to your application.

What To Do When Your Homeowner’s Insurance Company Won’t Pay

What To Do When Your Homeowner’s Insurance Company Won’t Pay for the Damage How The Claim Is Used Is How Someone Takes Your Property for Public Use How Your Insurance Claims Representative Will Do Anything Your Insurance Demands How To End Your Property’s Collision Damage Get Advice From Your Claims Repuler How to Avoid An Insurance Company Option Resources And Resources Related To The Claim See the FAQ . The claim services were conducted jointly by the insured, a third party insurer, (not the insurance company), and a consultant. The insured was a licensed, staff-owned property and casualty insurance agent licensed in all 50 states under the . The insured was a Licensed Professional for several years, and the insured took all of his/her state (MD) and/or territory, in the event your vehicle was damaged in an . In exchange for your agreement to indemnify the other party, your provider will pay the difference out of your settlement or the actual amount you received from the insured to cover you.

Homeowner Insurance Claims

Homeowner Insurance Claims and claims can be complicated. For instance, most states require policyholders to prove an insurance company owns a certain percentage of the policyholderâs possessions. If you are sued, that is determined based on the value of your possessions. If you need to report down the value of your possessions, you can do so, as this can help in your claim. If it canât be determined, you may contact a homeowners insurance specialist who can help you determine if a company can help. In general, your insurer will advise you of what you should know before you let your policy lapse. However, there is a certain period of time in most cases where it may not be so hard. For example, if you have a new car, then your old policy could expire and youâre not certain if it will be a legal and profitable issue. Here is one exception to the rule, and it may save you from having to buy another.

Experience Dealing With Insurance Company Denial Strategies and Tactics

Experience Dealing With Insurance Company Denial Strategies and Tactics The company, with over 100 years on the market, was originally founded as the Insurance Company of America in 1931. As an independent company, a non-profit organization representing over 100 insurance companies, the company also offers some innovative non-affiliated insurance services offered by non-affiliated insurance agencies. It is a well-known insurance company today that gives you coverage for both the vehicle you are keeping and driving. It is one of the largest independent auto insurance companies in the USA, with over $5 billion in assets. The company offers a variety of vehicle insurance policies and services. It includes a variety of the major benefits of a non-affiliated insurance company: It offers liability insurance coverage that meets the average requirements: Auto and commercial vehicles are covered by personal liability insurance. If you are in an accident, your car or truck is also covered. There are also comprehensive and collision insurance covered in most of its car insurance plans. The company offers commercial auto insurance coverage for homes, offices, and other businesses.

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tysonumcn084 · 4 years

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Don't Buy Into These "Trends" About Accident Injury Attorney Dallas

Take all the info you have about your case with you for each initial assessment including photos however do not take your originals. Take copies. When you do sign a contract with a lawyer you might be asked to supply the originals, however copies need to be great for your preliminary consultations.

If you consider asking an accident legal representative for legal assistance, you need to not be discouraged by the sudden mesh of advertisements of different law practice and independent accident legal representatives all over. For your information, there is an easier method to discover the best legal counsel for your personal injury case-- discover the best ways to discover a lawyer through an online directory site. By this, you'll have the ability to save time, money and effort, and you'll not be searching through databases of reputable, experienced and previously-screened lawyers in your geographical region.

When you have actually lastly selected a skilled and experienced lawyer, you will get the required legal suggestions from lawsuits up until the case is closed. All the strategies that you need to take will be discussed to you by your lawyer. You will have somebody to depend on till you lastly get your claims.

Certainly, a skilled counsel is so important in an injury case. So, if you have actually been involved in such case, do not hesitate, go out, find the injury attorney to be your partner in your mission for justice, and delight in the services that he offers you.

A driver can make an accident compensation claims for loss and injuries if another person was to blame for the accident. This is frequently another motorist although under some situations the mishap might have been caused by the negligent actions of another party. For instance if the roads were not gritted such that they remained icy and in a hazardous condition, an accident compensation claims may be filed versus the party responsible for keeping the roadways. If the accident involved a pedestrian or cyclist who were later on shown to be at fault, a personal injury payment claim might still made even though the upsetting party may not posses appropriate or any insurance coverage cover. However, in these scenarios we might recommend that it is unworthy bringing such personal injury payment claim.

This classification will include cases not listed above. For example sports injury cases, where an injury takes place on the field of play due to the negligent actions of a challenger, or the failure of an authorities to use the rules of the video game in the method which they should be applied. We will recommend on any concerns or inquiries you have in regards to putting forward an accident payment claim.

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Injury legal representatives can help on cases where something wrong was done to you. Cases as cars and truck mishaps resulting from another's driving under the influence, physical injury because of a defective item, poisoning because of the spoiled food served by a dining establishment, health issue because of drug containing damaging ingredients or perhaps by medical malpractice by a physician, trauma because of uncalled for actions and threats by another person, and many more, which jeopardize the safety of a specific and detrimentally agitate one's mental, physical and psychological well-being.

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It is recommended that when you had yourself hurt, or you had a mishap, you need to right now speak with a legal representative to understand the merits you have for a case. Absolutely, getting the services of accident attorneys to assist you on the actions to take https://craigglickmanlawfirm.com/Child-Custody.php would be a smart thing to do. Submitting a protest the soonest you can, will speed up things up, and will offer the impression of a real reason for action on your part.

There are a variety of online databases of local and local injury lawyers. While the majority of these are pay per listing or complimentary submission, some in fact do supply reviewing services. Even here, however, be wary of putting excessive stock in a website's suggestion as this information can be quickly controlled.

The final test should always be to consult with the lawyer. In such a conference you Accident Compensation Dallas can go over the payment approach (contingency or flat-fee), however more importantly you want to try to examine if this specific appears qualified. Keep in mind things like, what law school he/she participated in? Did they pass the bar on their very first attempt? How long have they been practicing personal injury in your state? Will they let you talk with a few of their latest customers? All these factors taken together should provide you a general impression of whether your personal injury lawyer is proficient, if not excellent.

If you suffer unintentional personal injury or damages through the fault of another, that person or business is lawfully accountable (responsible) and can be needed to pay settlement. To figure out responsibility, the court looks for neglect -- recklessness by among the parties included. Whoever is figured out to have been less cautious (i.e. more irresponsible), is lawfully responsible for a minimum of part of the damages incurred.

Select an accident lawyer experienced in dealing with insurance provider. Insurer legal representatives represent most accident case accused. These business attorneys look for to pay out the least quantity possible, so an inexperienced accident attorney might be at a disadvantage in these settlements. Therefore, choosing an accident legal representative with a tested performance history of effective negotiations is necessary.

Types of Accident. Accidents can be practically anything that leads to an injury. Whether this is a vehicle mishap caused by another driver, or whether you slip and fall while shopping or even at work these are all probably triggers for accident claims. Tripping over badly laid paving pieces may lead to a successful accident claim. Canine bites, asbestos illnesses, a crash while on public transportation or any mishap that results in bodily injury may mean you are entitled to claim. A personal injury attorney will be able to encourage you whether you have a case or not.

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The pain and suffering caused by numerous accidents can be long lasting and not only physical however psychological and psychological also. It can take months and even years to recuperate from the distress brought on by some injuries.

Take all the details you have about your case with you for each preliminary consultation including images but do not take your originals. Take copies. When you do sign an agreement with a legal representative you may be asked to supply the originals, but copies need to be great for your preliminary consultations.

When you start looking for personal injury lawyers in your area, do not randomly choose names from advertisements that stretch the truth. Benefit from matching services and guarantee that your needs are going to be met. When you find the best possible resource for injury legal representatives, you will have a greater chance of turning a bad circumstance into one that you can handle. Take simply a little time and try using among these services. You'll never understand, you may not need to go any further to find the most proficient counsel for your legal requirements!

With the attorney around, you can quickly accomplish the types needed for lawsuits. You will have a reliable guide while you're still in the claiming procedure. Aside from the lawyer's services discussed, you can likewise be advised by your lawyer if your particular case is entitled to a claim or not.

Personal injury attorneys are so crucial in your injury cases. They have been concentrating on numerous services to offer possible clients. These personal injury services consist of managing cases of vehicle or car mishaps, air travel disasters, aircraft crashes or accidents, birth injury, brain injury, unsafe and defective products, oral malpractice, pet bites, medical malpractice, nursing home abuse, items liability, serious personal injury or disastrous injuries, slip and fall, spinal cord injury, unreasonable insurance coverage practices, wrongful death, and a lot more.

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A guest associated with an accident in almost all scenarios can bring an effective accident payment claims for damages where they have suffered injuries. Travelers are usually regarded as blameless casualties who have suffered as a result of another person's neglect. Nevertheless, failure to comply with the law associating with the wearing of seat belts may affect the level of damages obtained in any award.

In a legal battle, you desire someone in your corner who will protect and fight for your rights. You will require the services of injury legal representatives in such a battle, and the more knowledgeable and effective they are in court, the easier it is to win your case.

Using this online database and your local yellow pages as a sort of general list, it then becomes necessary to narrow this list by taking a look at the qualifications of a particular lawyer. Most likely the very best way to do this is to call your local legal aid clinic, which is free. While these individuals are not in the business of providing recommendations, the bar in a specific city for personal injury generally consists of about fifty to one hundred lawyers, so among lawyers word gets around quite quickly as to who readies and who is not.

Choose a personal injury legal representative with trial experience. Although most personal injury claims are settled out of court, personally injury legal representatives sometimes get beneficial settlements by threatening to take cases to trial. The offenders are frequently happy to pay more cash to the complainants to prevent expensive trials, unfavorable publicity, and the chance that a court would award the plaintiffs more cash. In this case, experience is crucial: if your injury lawyer has actually never ever won cases in court, the accused in your suit may not take the risk of going to trial seriously.

The discomfort and suffering brought on by numerous mishaps can be long-term and not just physical however psychological and psychological as well. It can take months or even years to recuperate from the suffering triggered by some injuries.

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Law Firm of S. Craig Glickman

4925 Greenville Ave, Suite 200

Dallas, Texas 75206

(214) 407-2607

https://craigglickmanlawfirm.com

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#Accident Attorney Near Me Dallas

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golicit · 5 years

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Guest Post: D&O Insurance Pricing Trends

Jeff Hirsch

As I have noted in prior posts, and as a result of a number of factors, the current marketplace for D&O insurance marketplace is disrupted, with many buyers experiencing significant price increases. In the following guest post, Jeff Hirsch, Head of Product at Scale Underwriting, takes a detailed look at current D&O insurance pricing trends. A version of this article previously was published on the Foundershield blog. I would like to thank Jeff and Foundershield for allowing me to publish this article. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Jeff’s article.

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With a hands-on approach in 2019, the D&O insurance industry continued its market corrections to make up for poor underwriting results in year’s past. Starting in 2018’s Q4, we saw steeper premiums, higher retentions, reduced capacity, more restrictive terms, and plenty of non-renewal.

Historically, D&O underwriters reacted to linear claim trends—claims that were often based on business judgment errors, usually in terms of inaccurate financial forecasting. These claims were relatively easy to follow and understand, and their impact on pricing was objective.

Also, D&O underwriters’ fears were focused on accounting misstatement claims and other exposures that were more fundamental. However, event-driven lawsuits and data breach litigation climbed last year—merger objection lawsuits topping the list of cases. Also, the US Securities and Exchange Commission (SEC) lawsuits hovered near-record high, as well.

Among the big names, Google faced two Derivative Actions lawsuits, and Boeing faced a Securities Class Action (SCA) lawsuit. Plus, numerous breach and non-breach events motivated legal actions among several companies, including Federal Express, Facebook, Marriott, etc.

This past year was not at all dull in terms of D&O claims activity. Here’s how 2019 wrapped up and what 2020 has up its sleeve regarding D&O pricing trends.

What Affects D&O Premium?

Even with much event-driven litigation and high profile cases underway, a few elements impact D&O premiums historically, including:

Company size

Number of employees

Operating costs

Business scope

Market trends

Company’s financial security

Business ownership structure

Experts are calling the D&O industry a hard market, and expect the trend to continue for a couple of years. About one in every 11 companies are being sued, but it’s not necessarily that fraudulent activity is honestly to blame—that’s not plausible.

Source: Stanford Law School – Securities Class Action Clearinghouse

As mentioned, however, the SACs and litigation trailing after high-profile events are causing price hikes in the sector. Chubb drove this point home in a June 2019 white paper entitled, “From Nuisance to Menace: The Rising Tide of Securities Class Action Litigation.” Highlighted in the document was the astonishing amount of $23 billion, which was the cost of securities litigation over the last five years.

Shockingly, half of that went to attorneys while the other half covered settlements.

With the uptick in SCA lawsuits, many insurers are adjusting their underwriting approach, even exchanging growth for fair pricing. Many are taking a more conservative approach by reducing primary commercial D&O aggregate limits.

Some are doubting whether rates can outpace claim expenses and payments loss trends.

How Much Has D&O Pricing Changed?

The most significant D&O pricing changes relate directly to the increase in SCA lawsuits. Although for nearly every D&O risk, rates are up. We’ve also seen a rise in excess lines, which is vastly different from even one year ago.

The 2019 take-home message is that premiums are up. This approach seems to be a step in the right direction to counteract inadequate pricing of the past. However, losses are also up. Experts are predicting the D&O dynamics of a hard market to play out well into 2020, if not the entire year. (All pricing charts in this article are from Trans Re’s 2019 Update to its U.S. Public Directors and Officers Liability Insurance Market Analysis (here) and are published in this article with the authors’ permission.)

According to Kevin LaCroix, executive vice president of RT ProExec, particular companies face significant increases. Some of these firms include those with a recent initial public offering (IPO), financial troubles, or a hefty claims history.

While this comes as no surprise, given the D&O activity on 2019’s docket, it’s still a jagged pill to swallow for some business owners. Some other major events that continue to impact the D&O sector include:

Event-Driven Litigation

Also known as “bad news” claims since they often cause a severe price fall, disappointing shareholders, and the public alike. The most common scenarios are human-made or environmental disasters, product problems, and cyber attacks. However, event-driven litigation often calls upon the strength of a D&O policy.

Brand Value

According to Allianz, the loss of a company’s reputation or brand value is ranked as the ninth top business risk overall. From environment to social and governance failings, many variables factor into whether a company is “hot or cold.” What’s more, is that D&O underwriters consider the social media temperature of a company to gauge reputation.

Economic Growth

Whether it’s politics, trade wars, or something else entirely, experts predict a slow-down in economic growth in 2020. What this means is that more businesses will inevitably shut, facing insolvency or bankruptcy. While this outlook does seem bleak, it impacts the D&O sector significantly. Mainly because these insolvencies will translate into D&O claims.

Litigation Funding

The fact that litigation funding is now becoming a global investment class only makes sense, especially in light of other trends influencing the D&O space. Investors are looking for a better return on investment (ROI) after years of relatively risky business. The litigation funding industry, which tops $10 billion globally, has grown significantly in recent years. Plus, the US market makes up half of that.

High Profile D&O Suits

The once highest-valued private unicorn’s headlined a Fortune article titled, WeWork’s Legal Floodgates May Have Just Opened. With such a bold title, who can help but shake their heads at this calamity. The most significant problem is many of the directors and officers named in WeWork’s claims are shaking their heads back at us—in denial.

At the heart of this unfortunate situation is the issue of the “entire fairness standard.” But let’s back up. In San Francisco County Superior Court on November 4, former WeWork employee Natalie Sojka filed a lawsuit against former CEO Adam Neumann, SoftBank, and specific members of WeWork’s board of directors.

Sojka claimed that they used their control of the company to benefit themselves, which turned out to be detrimental to the company’s minority shareholders.

The ongoing class action lawsuit continues to unveil severe accusations, including breaching fiduciary duty. Since the business was spiraling already, some believe the company’s leadership was stuck between a rock and a hard place—aka choosing the SoftBank buyout or JP Morgan’s loan offer.

Nevertheless, Neumann and several other individuals (not to mention WeWork, in general) are in hot water because of the decisions that were made. The entire process has destroyed billions of dollars of value. To make matters worse, hundreds of people were laid off during the incident, not to mention the mounds of cash investors lost along the way, too.

Cost of D&O Insurance by Company Size

It’s no surprise that company size impacts the cost of D&O insurance. According to a price index report by TransRe, a property and casualty reinsurance company, rates are picking up across the board.

Large-Cap Companies

The report shows an upturn in D&O pricing in 2018, and it’s been climbing since. That said, prices for all D&O layers up 3.4% for large-cap companies. As mentioned, experts predict the climb to continue throughout 2020.

Mid-cap Companies

Mid-cap companies show an uptick in the working layer D&O premiums with a 7.1% increase. The report shows an overall increase of 8.4% for all D&O layers for mid-cap companies, but only 5.4% for excess lines.

Small-Cap Companies

Small-cap companies were the outlier last year, whereas this year, the differences aren’t as profound. With an 11.6% increase for all D&O layers, small-cap companies are experiencing the same uptick in overall D&O premium costs.

The D&O Market Outlook for 2020

As the D&O sector continues its much-needed transformation, here’s what we can look forward to in the new year.

D&O Rates Will Keep Climbing– While several factors are causing even private company D&O rates to push higher, the need for the coverage is palpable. The private company D&O market buyers will have to sustain increases. Of course, these increases shouldn’t be as much as large private companies. Keep in mind, though, that rates for large-cap companies are increasing less than those of small-cap companies despite the significant losses being paid in the large-cap sector.

Lawsuits Will Be Filed– Much like the adage that a district attorney could find a way to “indict a ham sandwich,” the plaintiff’s counseling representing minority investors can (and do) come up with clever ways to bring a lawsuit. What’s more, is that these lawyers aren’t necessarily looking at company size to indicate success.Think of it this way, they’re aiming for 400-pound Tuna—or otherwise known as juicy allegations—rather than 4-pound Fluke. The point is that the numbers don’t have to be in the billions to begin a lawsuit. In short, no matter what you’re fishing, you still have to launch an expedition.

D&O Insurance Protection Is Two-Fold– Firstly, if the board of directors is found in the wrong, D&O coverage will typically protect against a plaintiff verdict and contribute to a settlement. Secondly, D&O insurance will cover defense costs for the directors and officers as well as the entity itself (in most cases). Keep in mind, however, that plenty of caveats to coverage exist. Still, this “duty to defend” is significant value in terms of D&O insurance. After all, D&O lawsuits—even if they ultimately fail—can cost massive amounts of money.

Underwriters May Ride the Pricing Wave– On the one hand, large private company cases could intimidate many in the underwriting community. Only, amid the industry chatter about the “hard/hardening market,” some forget that these discussions don’t segment the public and private market.On the other hand, though, large private companies typically function more like publicly traded companies than startups—especially regarding some regulations, corporate governance, and compliance. What this means for the underwriting community is that they can justify an increase in rates.

With such significant past changes, D&O players are learning now more than ever how to roll with the punches. Although more transition lies ahead, overall, players are gearing up for another rousing D&O game in 2020.

Guest Post: D&O Insurance Pricing Trends published first on

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ntrending · 7 years

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Why California's big fire losses this year won't mean massive insurance rate hikes in 2018

New Post has been published on https://nexcraft.co/why-californias-big-fire-losses-this-year-wont-mean-massive-insurance-rate-hikes-in-2018/

Why California's big fire losses this year won't mean massive insurance rate hikes in 2018

With October’s massive wine country wildfires and current monster blazes sweeping Southern California, this year will go down in the record books as one of the most devastating fire seasons ever for insurance losses.

A spokesman for the state’s insurance regulator said Thursday that year-to-date losses from the state’s fires already top $10 billion. However, a state ballot measure passed decades ago by California voters may save them from massive increases next year in property and casualty insurance rates.

Insurance claims for the October wildfires in Northern California alone now top $9.4 billion, which includes destruction of or damage to more than 21,000 homes and 2,800 businesses, the California State Insurance Commissioner revealed Wednesday. As of Thursday evening, at least 439 structures have been destroyed so far in the Thomas Fire in Ventura County, and that’s before the catastrophic losses from other blazes in Los Angeles and San Diego counties.

“These are extraordinary loss figures — $9.4 billion in October alone — and sadly as the fires rage in Southern California we can anticipate that we will see significant losses there as well,” California Insurance Commissioner Dave Jones told reporters Wednesday.

It’s too early to say what the exact dollar amount of losses is from the current Southern California wildfires since the fires are still raging, but S&P Global Ratings is estimating the October fires alone caused more than $12 billion in losses. Some of the homes that burned or were damaged in the Bel Air fires this week in Los Angeles County include properties costing tens of millions of dollars, while further north the so-called Creek Fire damaged or destroyed at least 30 homes.

“We may experience increases in insurance costs in the future as a result of the fires,” said Janet Ruiz, a California-based representative with the Insurance Information Institute.

Ruiz said insurance companies also can decide not to write new policies for homes in areas deemed high risk. She also said they manage risk in areas deemed larger fire risks “so they’ll spread it out. A company may feel like they have too much risk in a high-risk area, and they might not renew.”

There are also cases where new insurance companies come into high-risk areas because they might be able to get higher premiums. Either way, the existing and new insurers would need to get new rates approved by California’s Department of Insurance.

For those insurers that spread risk to reinsurers, experts said, a lot of the impact will depend on whether or how much the reinsurers start rerating. Even before the October wildfires, there already were signs some reinsurers were looking to reduce exposure to the property catastrophe business due to the impacts of hurricanes.

Regardless, a voter measure passed decades ago will present a challenge for insurance companies looking to jack up rates right after the California wildfires.

Proposition 103, approved by California voters in 1988, requires the “prior approval” of the state’s insurance regulator before insurance companies can implement property and casualty rates, including homeowner’s insurance.

“California has a consumer-friendly approach with Proposition 103, and the insurance industry hates it,” said Kenneth Klein, a California Western School of Law professor and expert on natural disasters.

Added Klein, “The insurance industry has been battling that proposition for a long time.”

Under Proposition 103 and other California insurance regulations, property and casualty insurance companies cannot take all the losses associated with one event, such as this year’s wildfires, and then simply put them onto next year’s rates. The state requires a longer-term trend, not a one- or two-year disaster impact.

“California is a state that you can say is a little bit tougher to get rate increases versus other states,” said S&P Global Ratings credit analyst Tracy Dolin.

“The insurers cannot take all of the losses associated with a catastrophe like this [year’s wildfires] and dump it into next year’s rates,” said Jones, the insurance commissioner. “Instead, there’s a catastrophe factor in the rate, which is a trend that looks back at catastrophes over the last 20 years.”

Jones said that means losses this calendar year — whether from the wine country fires or the current wildfires in Southern California — “will be added into that 20-year trend and will have some impact on rates.”

He estimated the catastrophes will have a “modest impact” but wouldn’t say how much he thought it would be.

“It will not be a dramatic impact,” he said.

Jones estimated that his office has saved California consumers and businesses nearly $2.6 billion in premiums since 2011 by rejecting excessive rates or rate increases from insurers.

Without Proposition 103, Klein said, Californians could experience what happened in the Gulf Coast in the wake of 2005’s disastrous Hurricane Katrina. He said the industry was able to pass along big increases right after the disaster.

“After Katrina, the insurance industry immediately re-rated on the assumption that a Katrina event would happen the next year, which of course it didn’t,” Klein said. “As a consequence, I believe that was the single most-profitable year they ever had — the next year.”

Nonetheless, Klein said, California’s insurance regulators can’t ignore the increased wildfire risk in urban areas of the state and will need to work with the insurance companies.

“There’s no question that insurance companies are going to have to react to what is apparently a consequence of climate change, which is the increase in the frequency and severity of wildfires and wildfires in urban interfaces,” he said. The state’s insurance regulator “is already having extended discussions about how they will make sure that the insurance industry remains healthy and robust in this state.”

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orbemnews · 4 years

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Why are commercial insurance prices rising? Aon’s report finds that pricing momentum is expected to continue worldwide through 2021, although the approximately US$20 billion of capital that entered the market globally between March and December 2020 could potentially serve to temper any dramatic rate movements. “Pricing in commercial markets continues to rise,” said Stephene Ashikwe (pictured), senior vice president, Aon Global Risk Consulting. “Insurers are withdrawing capacity from key lines of business and geographies worldwide. They’re also tightening up their policy terms and conditions, and the general underwriting process is a lot more rigorous than it ever was before. Pricing was already rising before COVID-19, but the pandemic has exacerbated some pre-existing trends. As a result, we’ve seen both clients and insurers put in place some rigorous controls, and there’s been a lot of revisions to risk appetite and strategy.” Read next: Pandemics not a top risk for 82% of companies pre-COVID-19 The pricing momentum identified in Aon’s Q4 2020 Global Market Insights Report is the conclusion of a longer story, according to Ashikwe. For several years, property & casualty (P&C) insurers worldwide have been investing in core system modernization and enhanced capabilities around data & analytics, digitalization, and artificial intelligence (AI), in order to more accurately price risk and determine appropriate market capacity. Insurers are de-risking their portfolios and re-tooling to incorporate data & analytics, which has resulted in more rigorous and technically focused underwriting. At the same time, insureds have grown to expect more customization and flexibility in risk transfer, and enterprise risk management has reached new levels of complexity and sophistication. All of these changes have impacted pricing in the commercial market. What does this mean for brokers? Insurance brokers must keep up with technical developments in the industry, Ashikwe stressed, not only in terms of risk transfer solutions and products, but also around actuarial science, data & analytics, and how they understand and explain risk-based technical pricing. Read next: Insureds in niche industries struggle in ‘challenging’ hard market “In the hardening market, clients and brokers are increasingly using actuarial science to shore up submissions and find better ways to negotiate coverage terms and conditions,” Ashikwe told Insurance Business. “In the past, actuarial science was only really used by insurers for risk-based technical pricing, but now brokers are using it to encourage underwriters to place their business. This market has created somewhat of a team atmosphere between the underwriter, the broker and the client in the sense that clients are actually giving a lot more information to their brokers, and they’re doing that a lot sooner, which is helping brokers to send stronger submissions to the market.” With pricing momentum set to continue, Ashikwe also expects to see further interest and growth in alternative risk transfer (ART) solutions, such as: sustainable balance sheet funding, special purpose reinsurance vehicles, reciprocal risk retention groups, and single-parent or group captive solutions. Commercial interest in ART has grown amid the COVID-19 pandemic. This trend is unsurprising, given how companies are being forced to retain more risk on their balance sheets at a time when the global economy is strained after 12 months of reduced activity. While the global economy is recovering and unemployment rates are improving, Ashikwe urges “cautious optimism”. He said: “Insurance organizations are going to be really careful in how they manage their balance sheets through [the COVID recovery period]. Having an excess of capital doesn’t necessarily mean we can cover every risk that comes our way. COVID-19 is a prime example of that – many weren’t ready for such a risk to impact us at this level. While companies are re-shaping themselves, I think it’s important to understand it’s all about managing balance sheets better than we’ve done in the past.” Source link Orbem News #Commercial #insurance #Prices #rising

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