Leveraging Cloud Capabilities: Insurers’ Path to Tech Debt Reduction /*! elementor – v3.17.0 – 18-10-2023 */ .elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block} The insurance industry finds itself on the cusp of a transformative era, propelled by technological advancements that present both challenges and tremendous opportunities. As we enter 2024, a wave of innovation […]
Professional Liability Insurance for Real Estate Agents: Do You Need It?
Professional Liability Insurance for Real Estate Agents: Do You Need It?It’s an important question: Do real estate agents need professional liability insurance to run their businesses? As a real estate agent, navigating the complex world of real estate transactions comes with inherent risks. Even a minor oversight or unintentional error can lead to costly lawsuits. […]
How Karen Griswold Found Her Path in Chubb Marine Insurance
How Karen Griswold Found Her Path in Chubb Marine Insurance By Loretta Worters, Vice President, Media Relations, Triple-I When Karen Griswold graduated with a B.S. in marketing from Penn State University, her first foray into the business world was to become an executive retail buyer in a large department store. It didn’t take long before […]
Coastal New Jersey Town Regains Class 3 NFIP Rating
Coastal New Jersey Town Regains Class 3 NFIP Rating Sea Isle City, N.J., has regained its Class 3 rating under FEMA’s National Flood Insurance Program (NFIP) Community Rating System (CRS) after a brief demotion last year. Being rated Class 3 enables the coastal town’s property owners to receive a 35 percent discount on their federal […]
Your Guide to Singapore Work Permits, S Pass, and Employment Pass (Updated 2024)
Your Guide to Singapore Work Permits, S Pass, and Employment Pass (Updated 2024)Thinking of starting a new chapter in Singapore? You’ll need official documents from the Singaporean government to stay and work. Depending on your occupation, salary, and more, you may be required to get a Work Permit, S Pass, or an Employment Pass. In […]
What Does Home Inspector Insurance Cost?
What Does Home Inspector Insurance Cost?You may think that home inspector insurance costs are just additional business expenses you don’t need. But, as someone crawling into unknown and old homes, have you ever thought about the cost of not having insurance? Consider this: The cost of insurance can make all the difference between growing a […]
Women are fueling industry prosperity but left out of the C-Suite
Women are fueling industry prosperity but left out of the C-Suite The insurance industry is on track for continued growth, with women playing a huge part, but gender equity at the top remains a long way off. Bureau of Labor Statistics (BLS) data shows the talent pipeline isn’t an issue, as women account for 59.4 […]
Auto Insurers Contend With Rising Costs
Auto Insurers Contend With Rising Costs By Max Dorfman, Research Writer, Triple-I Auto premiums continue to increase as rising labor and material prices, alongside natural disasters, are forcing insurers to contend with significant losses. As Triple-I previously found in its January report, Insurance Economics and Underwriting Projections: A Forward View, “commercial auto underwriting losses continue, […]
Evolving Risks Demand Integrated Approaches
Evolving Risks Demand Integrated Approaches Even as the Smokehouse Creek Fire – the largest wildfire ever to burn across Texas – was declared “nearly contained” this week, the Texas A&M Service warned that conditions are such that the remaining blazes could spread and even more might break out. “Today, the fire environment will support the potential for multiple, […]
Five Biggest Threats Faced by Independent Insurance Agencies
Five Biggest Threats Faced by Independent Insurance Agencies /*! elementor – v3.17.0 – 18-10-2023 */ .elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block} Amid rising inflation and market fluctuations, independent insurance agencies keep on finding themselves grappling with intensified challenges stemming from a continuous cycle of economic uncertainties, geopolitical headwinds, environmental challenges, and capital constraints. […]
Will the D&O market conditions remain favorable? Allianz report says 2024 will bring its share of challenges.
Will the D&O market conditions remain favorable? Allianz report says 2024 will bring its share of challenges. Several global challenges pose a significant threat to maintaining soft market conditions for Directors and Officers (D&O) liability coverage, according to the most recent report on the sector by Allianz. A list of salient risks and trends to […]
NAIC, FIO to Collaborate on Data Collection Around Climate Risk
NAIC, FIO to Collaborate on Data Collection Around Climate Risk When the U.S. Treasury Department’s Federal Insurance Office (FIO) announced in December 2022 that it was considering a new data-reporting mandate for certain property/casualty insurers, it raised red flags for insurers and policyholders. In response to a request for comments on the proposed data call, Triple-I told FIO the […]