How Increasing Legal Costs Are Impacting Insurance Coverage Across the insurance industry, rising legal costs and larger jury verdicts are significantly increasing the severity of claims. This trend, often referred to as social inflation, is impacting both personal and commercial insurance policies across the country. As claims become more expensive…
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P&C Market Watch: Surplus & Excess Lines
What Happens if Your Carrier Leaves the Market? The insurance market is constantly evolving. Occasionally, a traditional “admitted” carrier (one licensed by the state) may decide to stop writing new business or exit a specific geographic area due to increased catastrophe risk or regulatory shifts. While a “non-renewal” notice can…
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Q1 Capacity Forecast & Renewal Preparation
Navigating the January 1 Reinsurance Impact In the insurance world, January 1 is more than just a holiday; it is the most critical date on the industry calendar. This is the “Treaty Renewal” date, when primary insurance carriers negotiate their own insurance, known as Reinsurance. The rates and capacity set…
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Why your “Age of Issue” Matters in January
Locking in Your Future Health (and your lowest rates) Today When most people think of their age, they think of their last birthday. However, in the life insurance industry, the math works a little differently. Most carriers use a concept called “Age Nearest,” which determines your premium based on whichever…
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Updating your Business Property Inventory for the New Year
Start the Year with a Clear Picture For business owners, January is the ideal window for a “Physical Asset Audit.” Positioned right after the year-end rush and before the tax season chaos begins, this is the perfect time to document exactly what powers your business. Whether you operate a retail…
