Risk Management Monitor

SEPTEMBER 21, 2021

With the cost of insurance for businesses rising across many types of coverage, staying on top of trends in the claims portfolio is more important than ever. For this reason, many insurers and TPAs promise to conduct claims reviews with their business customers on a regular basis, but the rigor can vary greatly.

Claim 75

Claim Injury Workers Compensation Risk 75

Frankenmuth Insurance

JULY 25, 2024

Your local, independent agent is here to help you decide. What are the coverage limits and deductibles? What is the highest amount I could pay on a claim? What deductible do I have to meet before my coverage kicks in? Can I adjust my deductible down the road? How are claims handled? Can I file 24/7/365?

Agents 57

Agents Deductible Premium Claim 57

Shield Insurance Agency

AUGUST 20, 2024

Shield Insurance Blog | Small Insurance Claims | Contact Our Sales Team! Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. However, filing small insurance claims can have long-term financial consequences.

Insurance Claim 52

Insurance Claim Claim Protection Out-Of-Pocket 52

American Agents Alliance

MARCH 19, 2025

Data-driven decision making can help improve retention rates by helping agents understand policyholder behavior and make adjustments proactively, before customers shop for other options. Here are some ways agents can use data analytics to improve retention rates. The link between data analytics and retention is clear.

Agents 52

Agents Insurance Agents Insurance Agent Policyholder 52

Word & Brown

SEPTEMBER 25, 2024

According to reporting last year by KFF (the independent source for health policy research, polling, and journalism formerly known as the Kaiser Family Foundation) data from insurers for Affordable Care Act Marketplace plans show nearly 17% of in-network claims were denied in 2021.

Claim 52

Claim Insurance Claim Insurance Insurer 52

Majesco

MARCH 27, 2025

When she recently realized that her premiums for both vehicles were nearly identical (and they had both gone up), she called her insurance agent. The agent suggested a telematics-based insurance product for the convertible to optimize pricing. She puts 2,500 miles per year on the convertible.

Auto Insurance 52

Auto Insurance Insurance Insurer Insured 52

American Agents Alliance

FEBRUARY 7, 2025

This trend describes the phenomenon of unexpected rising insurance claim costs because of societal trends and views toward litigation. Unforeseen litigation costs can drive up the costs of claims unexpectedly and policyholders may feel they were not advised of their coverage adequately.

Risk 52

Risk Broker-Agent Policyholder Agents 52

Word & Brown

FEBRUARY 18, 2025

Lets look at how an agent/GA relationship works and how a GA can work on your behalf in dealing with carriers and plan administrators. automated deductible and Rx updates (so you know when they apply before benefits kick in). But you are still able to remain independent and operate on your own. customizable quote output options.

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Broker-Agent Broker Agents Underwriter 52

TGS

OCTOBER 30, 2024

Imagine discovering after a claim that the policy won’t pay enough to replace your roof or cover water damage. Mind the Deductibles—Higher Isn’t Always Better A deductible is the amount you pay out of pocket before your insurance steps in. Haven’t filed a claim in years? Does the company handle claims efficiently?

Insurance Quotes 52

Insurance Quotes Home Insurance Deductible Out-Of-Pocket 52

TGS

OCTOBER 3, 2023

This proposed estimate can change in price as your agent works to refine your quote so that it’s curated to suit your unique coverage needs. Deductibles 8. Policy Number If you ever need to file a claim, this policy number is what you will use. This number is sometimes helpful when consulting with your insurance agent, as well.

Insurance Quotes 52

Insurance Quotes Deductible Home Insurance Out-Of-Pocket 52

TGS

OCTOBER 3, 2024

Claims History Both your personal claims history and the history of claims in your area can impact your premium. If you’ve filed multiple claims in the past, insurers may view you as a higher risk, which can raise your rates. Opting for a higher deductible can lower your monthly premium.

Premium 52

Premium Deductible Out-Of-Pocket Insurance 52

Leadsurance

NOVEMBER 19, 2024

Just remember, when comparing apples with apples in terms of the level of coverage as well as deductibles, make sure you are actually doing so compared with other quotes. Up Your Deductive Your deductible is the cash amount you agree to pay when making a claim, whereas the insurance only kicks in thereafter.

Home Insurance 52

Home Insurance Premium Deductible Insurance 52

Shield Insurance Agency

APRIL 19, 2024

This coverage pays for damages to your vehicle regardless of fault, meaning that even if you are at fault for the accident, your insurance will cover the repair costs up to the actual cash value of your vehicle, minus your deductible. The deductible is the amount you must pay out-of-pocket before your insurance coverage kicks in.

Auto Insurance 52

Auto Insurance Deductible Out-Of-Pocket Insurance 52

Jackson & Jackson

APRIL 29, 2024

Increase Your Deductible Increasing your deductible is one of the simplest ways to lower your insurance premiums. This means you will pay more out of pocket in case of a claim, but your monthly or annual insurance costs will be lower. Strategy: Install modern fire alarms, sprinkler systems, and security systems.

Commercial Property 52

Commercial Property Property Insurance Commercial Deductible 52

Boyle Agency Insurance

APRIL 27, 2024

These factors make filing a claim more likely, and they range from the condition of your home to your financial standing. Deductibles are meant to induce homeowners to take good care of the condition of their property. To avoid costly claims in the future, damage should be repaired.

Premium 40

Premium Deductible Insurance Insurer 40

Distinguished

SEPTEMBER 17, 2024

We can consider weather related claims, but claims of theft, vandalism, and fire, for example, would be an automatic decline. What are some of the key factors you consider when determining appropriate coverage limits and deductibles? Properties in a high wind hail area may be subject to an increased wind deductible.

Risk 52

Risk Broker-Agent Deductible Insurer 52

Smart Insurance Agents

OCTOBER 16, 2024

Unlike agents tied to one insurer, brokers work with multiple companies to give you unbiased options. Choosing the right broker involves verifying credentials, reading client reviews, and scheduling consultations to ensure tailored support throughout the insurance enrollment and claims processes.

Insurance Broker 52

Insurance Broker Broker Broker-Agent Out-Of-Pocket Expense 52

Jackson & Jackson

MAY 23, 2024

Small business insurance covers property damage, liability claims, and employee-related risks. Consider the potential costs of liability claims, such as lawsuits or damages caused by your products or services. Obtain quotes from multiple insurers, comparing their coverage options, limits, and deductibles.

Small Business Insurance 52

Small Business Insurance Business Insurance Insurance Insurer 52

Word & Brown

SEPTEMBER 13, 2024

That includes understanding what plans offer the lowest and highest out-of-pocket costs, including deductible, copays, and coinsurance. 5: Claims Protocols Even if it is not voiced by your prospects or clients in advance, it will eventually be important to know the claims processes for each selected carrier and health plan.

Broker 52

Broker Out-Of-Pocket Broker-Agent Insurer 52

Jackson & Jackson

APRIL 28, 2024

However, in the event of a claim, this can lead to substantial out-of-pocket expenses due to insufficient coverage limits. Cheaper policies can come with higher deductibles, more exclusions, and lower coverage limits, which could cost more in the long run. This often happens when trying to save on premiums.

Business Interruption 52

Business Interruption Out-Of-Pocket Expense Out-Of-Pocket Broker-Agent 52

Jackson & Jackson

MAY 22, 2024

It covers property damage, loss of income, liability claims, etc. Additionally, it can provide coverage for business interruption, tenant improvements, and liability claims arising from third-party injuries or property damage on the premises. Additionally, investors can explore the option of higher deductibles to reduce premiums.

Property Insurance 52

Property Insurance Commercial Property Commercial Insurance 52

TGS

SEPTEMBER 6, 2023

However, for many home renovation projects, you will need to inform your insurance agent. In order to make sure you have the right continuous coverage, always consult your insurance agent! If you have to file a claim during the renovation, but you failed to report the project to your insurance in advance, it can be costly.

Insurance Policy 52

Insurance Policy Policy Home Insurance Personal Property 52

Distinguished

JANUARY 28, 2025

As a wholesale broker, understanding the intricacies of management liability insurance is essential to effectively guide your agents and clients through the process of securing the right coverage for their unique needs. This can include claims related to alleged mismanagement, negligence, or improper disclosure.

Liability Insurance 52

Liability Insurance Liability Broker-Agent Insurer 52

Distinguished

JANUARY 28, 2025

As a wholesale broker, understanding the intricacies of management liability insurance is essential to effectively guide your agents and clients through the process of securing the right coverage for their unique needs. This can include claims related to alleged mismanagement, negligence, or improper disclosure.

Liability Insurance 52

Liability Insurance Liability Broker-Agent Insurer 52

Bankers Insurance

MAY 16, 2024

The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. Homeowners can submit a claim if they are at fault for another party’s losses, such as bodily injuries and property damage. WHAT HAPPENED IN 2023?

Home Insurance 52

Home Insurance Policyholder Insurance Insurer 52

Tosten Marketing

SEPTEMBER 17, 2019

Working remotely as an insurance agent is simple and you can absolutely run a successful insurance agency out of your home. In fact, most insurance companies today no longer require you to have a physical location and will give appointments to agents who work out of their home if they can display potential for new applications.

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Insurance Agency Insurer Insured Insurance 52

Distinguished

NOVEMBER 7, 2024

Principal’s Default: A claim under a surety bond arises only upon the default of the principal. While both serve as risk management tools, their operational mechanisms, purposes, and the way claims are handled differ significantly. Importantly, if the surety pays out a claim, they will seek reimbursement from the principal.

Claim 52

Claim Compensation Risk Broker-Agent 52

Property Insurance Centre

SEPTEMBER 25, 2024

Define the maximum amount that you are willing to spend additional in the case of a claim. Many people make common mistakes when dealing with building insurance, which can result in inadequate coverage or denied claims. Providing an inaccurate estimate may result in inadequate coverage in the event of a claim.

Building 52

Building Insurance Insurer Insured 52

Smart Insurance Agents

AUGUST 31, 2024

The costs may encompass deductibles and copayments. Deductibles and Copayments Patients may need to pay a portion of the expenses upfront as deductibles or copayments before their insurance coverage kicks in. Additionally, they can involve other expenses that the plan does not cover.

Out-Of-Pocket 52

Out-Of-Pocket Insurance Insurer Insured 52

Distinguished

JULY 22, 2024

At Distinguished Programs, our specialty fine art and collectibles insurance offers several key advantages over relying solely on homeowners insurance: Doesn’t Affect Homeowner Premiums : If your client needs to file a claim, it won’t impact their homeowner’s insurance premiums.

Insurer 52

Insurer Insured Insurance Policy 52

Bankers Insurance

AUGUST 8, 2024

For example, if an insured’s property is valued at $1 million, but their coverage limit is $700,000 and their policy includes an 80% coinsurance clause, they would likely receive only $43,750 after incurring $50,000 in property damage from a covered event, depending on when their deductible is applied (700,000/800,000) x 50,000 = 43,750).

Commercial Property 59

Commercial Property Property Insurance Commercial Out-Of-Pocket 59

Maritime Insurance International

JUNE 5, 2020

Here are some of the most common factors: Type of boat you need covered How old your boat is and its condition Size of your boat Value of your boat Where you will use the boat Your selected coverage levels and deductibles Ask About Discounts When shopping for boat insurance, keep in mind that some providers do offer discounts. Zero Claims.

Insurance Policy 40

Insurance Policy Insurance Insurer Insured 40

TGS

NOVEMBER 7, 2024

Unlike standard auto insurance, which typically bases claims on the actual cash value (think market value minus depreciation), agreed value auto insurance is all about clarity and mutual understanding. Let’s explore why this coverage might be the perfect fit for your unique set of wheels. What is Agreed Value Auto Insurance?

Auto Insurance 52

Auto Insurance Protection Insurance Insurer 52

TGS

NOVEMBER 7, 2024

Unlike standard auto insurance, which typically bases claims on the actual cash value (think market value minus depreciation), agreed value auto insurance is all about clarity and mutual understanding. Let’s explore why this coverage might be the perfect fit for your unique set of wheels. What is Agreed Value Auto Insurance?

Auto Insurance 52

Auto Insurance Protection Insurance Insurer 52

Jackson & Jackson

MARCH 18, 2024

Look for companies that specialize in high-end items and have a proven track record of handling claims with efficiency and care. Compare the coverage, limits, deductibles, and any additional benefits they offer. Consider the customer service they provide and their claims process.

Insurance 52

Insurance Insurer Insured Insurance Policy 52

Smart Insurance Agents

AUGUST 23, 2024

It will allow sponsors to submit a single claim for all medications, reducing the administrative costs of submitting and processing multiple claims and the costs associated with claim adjudication. These plans will provide more inclusive coverage, with reduced copayments and deductibles, and a broader range of medications.

Out-Of-Pocket 52

Out-Of-Pocket Risk Deductible Claim 52

Smart Insurance Agents

JANUARY 11, 2025

Analyze the premiums, deductibles, co-pays, and out-of-pocket maximums to determine the plan’s affordability for both the business and its employees. Another way to manage costs is by considering a high-deductible health plan (HDHP) paired with a Health Savings Account (HSA).

Insurance 52

Insurance Insurer Insured Out-Of-Pocket 52