IA Magazine
After attending industry events where he was often the only African American in the room, "those experiences are what started me on the road to building NAAIA," says Jerald Tillman, founder of the National African American Insurance Association. "I d...
Posted: Feb 01, 2021
Every day, eight people in the U.S. are killed in crashes reported to involve a distracted driver, according to the Centers for Disease Control and Prevention. Distracted driving is a serious problem not only for the insurance industry but for the na...
Posted: Jan 31, 2021
Neptune Commercial Flood Insurance expands its flood insurance products to include all NFIP product types. Products include residential condominium building associations, apartment buildings, co-ops, hotels, motels and inns.
Posted: Jan 31, 2021
Commercial insurance buyers will feel the effects of the firming property market, according to the 2021 U.S. Property Market Outlook by Risk Placement Services. Rate increases up to 15% on clean accounts and even higher on accounts with losses are ex...
Posted: Jan 31, 2021
ICAT, a Victor US partner company, launches a vacant buildings insurance product protecting vacant buildings from all perils, excluding wind and hail, flood and earthquake, which may be added on an optional basis.
Posted: Jan 31, 2021
Every day, eight people in the U.S. are killed in crashes reported to involve a distracted driver, with 1 in 4 caused by texting while driving, according to the Centers for Disease Control and Prevention. Distracted driving is a serious problem for t...
Posted: Jan 31, 2021
An insured works in a former guesthouse—that has a garage for personal storage—adjacent to their home. Is the structure covered under their homeowners policy? If the agency doesn’t disclose business use, would the carrier potentially decline the clai...
Posted: Jan 28, 2021
States across the country are in varying stages of vaccination and while the question of whether employers can require a COVID-19 vaccine isn't imminent for most businesses, now is the time to think about what your strategy will be.
Posted: Jan 27, 2021
The Big “I” joined forces with organizations representing insurers, lenders and realtors to submit comments on the Federal Housing Administration proposed new rule regarding private flood insurance. The proposal would allow consumers to purchase priv...
Posted: Jan 27, 2021
Nearly one-third of U.S. homes are exposed to a high risk of damage from natural hazards, according to CoreLogic's 2020 Catastrophe Report. But while the report looks at severity and frequency of damage caused by seven natural perils, it points to ri...
Posted: Jan 27, 2021
Allstate President and CEO highlighted the need to release capital to pursue a strategic direction more in line with growth in the personal lines property-casualty market.
Posted: Jan 27, 2021
In every commercial insurance transaction, there is a buyer and a seller working towards the common goal of protection for a risk. Too often this transaction is flawed. Here's some reasons why.
Posted: Jan 26, 2021
Subrogation, recovering sustained damages from a negligent party, is an often-overlooked service to secure customer retention and reduce risk. Here are three ways to help clients maximize their subrogation recoveries.
Posted: Jan 25, 2021
Subrogation, recovering sustained damages from a negligent party, is an often-overlooked service to secure customer retention and reduce risk. Here are three ways to help clients maximize their subrogation recoveries.
Posted: Jan 25, 2021
While pricing trends in the product liability market are expected to continue to harden in 2021, some may be considering reducing coverage. Here are four coverages agents should consider offering to ensure their clients are adequately insured.
Posted: Jan 24, 2021
Agents and brokers should continue demonstrating high levels of agility and work with carriers to set their commercial clients up for success in 2021. Here are three ways to set both you and your clients up for success.
Posted: Jan 24, 2021
While hard market conditions continue within the trucking industry clients continue to shop around for better rates. Here are three ways to assist clients in getting the best rate and coverage to meet their needs.
Posted: Jan 24, 2021
A pool contractor is insured on a commercial general liability occurrence form and is selling the business. If we cancel the CGL and a claim arises in 2021 but the pool was built in 2020, would the 2020 policy respond?
Posted: Jan 21, 2021
Following a year of hardship, uncertainty and loss, the enduring value of the independent agency channel is being put to the test. Future-minded agencies will choose to evolve. Here are four key pillars agencies should look to when creating a transfo...
Posted: Jan 20, 2021
Late last week, President Biden outlined his “American Rescue Plan” providing further COVID-19 relief to the nation. The proposal provides an additional $1.9 trillion in relief, including an additional $50 billion to small businesses.
Posted: Jan 20, 2021
Last week, Applied Systems, one of the world's largest providers of agency and brokerage management systems, entered into a definitive agreement to acquire EZLynx. A second announcement from Bold Penguin, a digital insurance exchange, stated it will...
Posted: Jan 19, 2021
Growth rates for surplus lines insurers have averaged 8.8% over the past five years. In contrast, the total p-c market grew at a rate of 4.7%. Most interestingly, surplus lines growth appears to be accelerating.
Posted: Jan 19, 2021
Access to the right marketing can be the difference between reaching your target audience and missing the mark altogether. Here are three key elements to developing a marketing plan.
Posted: Jan 18, 2021
An ice storm left an insured without power for five days, leading to a loss of income. They have a commercial property policy with an enhancement that includes business income and extra expense. However, the adjustor is denying the claim because cove...
Posted: Jan 14, 2021
The beginning of the new year has brought many new regulations for employers to follow. Affinity HR Group, a Big “I" Hires partner, is tracking legislative updates in each state. Here are some changes.
Posted: Jan 13, 2021