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States with the Highest Workers’ Comp Rates

In 2023, the workers’ compensation market demonstrated significant strength and stability, marking another year of impressive performance for private carriers. According to data from the National Council on Compensation Insurance (NCCI), this sector achieved remarkable results, continuing a decade-long trend of profitability. Key Metrics and Trends Combined Ratio and Premiums:Private workers’ compensation carriers recorded a […]

Fortifying Financial Stability: The Imperative of Proactive Risk Mitigation in the Skyscraper Insurance Landscape

Introduction:In the dynamic realm of Skyscraper Insurance, the principles of financial resilience and risk mitigation have assumed paramount importance. As we navigate through an era marked by climate volatility and economic unpredictability, the need for proactive measures to safeguard financial stability has never been more pressing. This article explores the evolving landscape of Skyscraper Insurance, […]

Who’s Utilizing What in P&C Insurance: 2024 

Marsh McLennan, in collaboration with Oliver Wyman, has introduced Sentrisk, an AI-driven platform designed to assist businesses in managing global supply chain risk. Sentrisk employs advanced analytics to identify low, medium, and high-risk vulnerabilities at a granular level, including specific sites, suppliers, or components, according to Marsh McLennan.  EZLynx has partnered with Citizens Property Insurance […]

Revolutionizing Retirement in the Insurance Industry: A Comprehensive Approach to Offboarding 

As the insurance industry braces for a historic wave of retirements, companies face the challenge of preserving decades of knowledge and experience. By 2028, approximately half of the insurance workforce is set to retire, coinciding with the retirement age of the baby boomer generation. This impending “baby boomer” retirement collapse presents a significant dilemma for […]

Title: Innovative Ticketing Protection Solutions: Bridging the Gap between Insurers and Ticketing Platforms

Meta Description: Discover how insurtechs are revolutionizing event ticket protection with tailored insurance and non-insurance solutions to meet the evolving needs of consumers in the $85 billion event industry. Keywords: event ticket protection, insurtechs, insurance offerings, non-insurance solutions, innovative protection offerings, cancel for any reason, festival coverage, full-experience coverage, season ticket holders Innovative Ticketing Protection […]

Navigating AI in Insurance: Balancing Policyholder Concerns & Insurer Benefits

Insurers and policyholders are grappling with the integration of AI into underwriting and claims processes, revealing a divide in attitudes toward this technological advancement. Chris Lafond, CEO at Insurity, emphasizes the importance of understanding consumer sentiment toward AI, noting a need for a balanced approach that combines AI with human judgment to foster trust and […]

Protecting California Homes in 2024: Navigating Insurance Challenges

In California’s dynamic homeowners insurance realm, staying proactive is paramount. With over two decades of experience in insurance advising, I’ve observed the myriad hurdles and opportunities homeowners encounter. This article aims to illuminate the current landscape and offer practical steps for safeguarding homes while managing costs effectively. The Current Landscape:Since 2022, California’s homeowners insurance market […]

Outsmarting Vishing: Striking a Balance between Emotions and Logic for Enhanced Protection

In the ever-evolving landscape of cyber threats, fraudsters are adept at exploiting vulnerabilities through various tactics, including vishing, or voice phishing. Unlike traditional phishing emails or texts, vishing targets victims over the phone, making it a particularly insidious form of cybercrime. Cybercriminals employ a range of techniques, including spoofing, spamming, and robocalls, to deceive individuals […]

🌞 Solar Panel Popularity Demands Better Property Valuations

As skyscrapers increasingly turn to solar energy to reduce their carbon footprint and operational costs, ensuring accurate property valuations becomes paramount for effective insurance coverage. In 2023, solar power accounted for 5% of the world’s electricity, a figure projected to grow significantly in the coming years, driven by both environmental concerns and economic incentives. The […]