American Agents Alliance

JANUARY 4, 2025

Establishing strong, trusting policyholder relationships drives long-term success for many agents and brokers. However, these relationships can also lead to unintended risks, like the possibility of E&O claims if professional boundaries are missed. This can help reduce misunderstandings that often lead to E&O claims.

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Policyholder Broker-Agent Agents Claim 52

Triple-I: Homeowners Insurance

JANUARY 20, 2025

The moment of a claim of whatever tragedy or inconvenience that has happened is a human moment. Rather, new technology presents opportunities to facilitate more proactive and individualized risk management than ever before, while also enabling employees to do what this industry does best: engaging with other people.

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Insured Insurance Insurer Insurance Carrier 59

American Agents Alliance

JANUARY 11, 2025

The recent Eaton and Palisades fires in the greater Los Angeles area are evidence of the increasingly prevalent wildfire risk in California. These wildfires have caused historic damage, claimed lives, and threatened communities. When consumers do not carry sufficient insurance coverage, everyone is at risk.

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Insurance Industry Risk Broker-Agent Policyholder 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. Learn more about social inflation and E&O risks and how to manage these concerns. This could lead to an E&O claim as policyholders are disappointed in claims outcomes.

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Broker-Agent Risk Policyholder Agents 52

American Agents Alliance

JANUARY 17, 2025

Policyholders are looking for more than just the best rate for their insurance coverage. Many want a trusted insurance advisor to help them understand their risks and how to become more resilient. Read on to learn ways to become a risk resilience expert and optimize customer retention. Conduct personalized risk assessments.

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Risk Policyholder Broker-Agent Agents 52

Distinguished

MARCH 20, 2025

Additionally, defects in windows, doors, handrails, and stairs not only contribute to drafts and security concerns but also increase the risk of falls. Blocked emergency exits or fire escapes and electrical hazards, including exposed wiring or overloaded circuits, further compound these risks.

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Broker License Insurance Broker Risk 52

Triple-I: Homeowners Insurance

JANUARY 13, 2025

While the perception of overall severe weather risks varies significantly by region, 65 percent of the participants nationwide believed their home is at risk from thunderstorms, according to the new report, Catastrophic Weather Events and Mitigation: Survey of Homeowners by the Insurance Research Council (IRC), a division of The Institutes.

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Policyholder Claim Premium Risk 79

The Property Insurance Law Observer

MARCH 12, 2024

The loss was reported to Allstate on November 24, 2021, and the Plaintiffs filed a claim seeking coverage for the damage to their dwelling and structures in the amount of $200,000. After investigating, Allstate denied coverage, invoking the policy’s vandalism exclusion and increased risk provision. Citing to Allemand v.

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Theft Insurance Policy Policy Personal Property 130

American Agents Alliance

MARCH 3, 2025

New efficient processes and workflows for underwriting, claims, policy administration, billing, and customer service have been implemented across the industry. However, for agents and brokers, these new AI-driven processes can introduce new E&O risks to mitigate and manage.

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Broker-Agent Broker Agents Risk 52

InsuredMine

JULY 19, 2024

Insurance agencies once focused primarily on assessing risks, underwriting policies, and managing claims. Understanding Predictive Churn Analytics Predictive churn analytics is revolutionizing the insurance sector by enabling companies to shift their focus from traditional risk assessment to proactive customer retention strategies.

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Risk Policyholder Insured Insurance 59

Triple-I: Homeowners Insurance

JUNE 19, 2024

By Max Dorfman, Research Writer, Triple-I The total value of lightning-caused homeowners insurance claims rose more than 30 percent in 2023, to $1.27 billion from $950 million in 2022, Triple-I estimates based on national claims data provided by State Farm. The number of claims rose 13.8 of Claims Avg.

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ProWriters

FEBRUARY 7, 2025

At the same time, AI makes improved risk assessment and protection against cyber threats possible. AI-driven advancements in malicious tactics mean brokers must account for evolving risks in the underwriting process. AI technology allows insurers to identify potential risks more accurately and determine appropriate coverage limits.

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American Agents Alliance

SEPTEMBER 30, 2024

Learn more about how to help policyholders prepare for the unexpected with helpful tips. How to Help Policyholders With Proactive Disaster Planning An important start to disaster planning is considering whether or not a potential loss would be covered by insurance. Provide expert educational services for policyholders.

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Policyholder Broker-Agent Personal Property Agents 40

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.

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Property Insurance Centre

JULY 21, 2024

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024 We are delighted but not surprised to announce that our claims partner, Aspray, has won the prestigious “Loss Assessor of the Year 2024” award at the British Claims Awards. Key Factors Behind Aspray’s Success 1.

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Claim Property Damage Building Property Insurance 52

American Agents Alliance

NOVEMBER 9, 2024

Independent P&C agents and brokers who reside and work in this region must also know how to help policyholders manage earthquake risk. This requires experience, expertise, and a proactive approach to risk management and mitigation. Learn more about how agents can help their policyholders manage earthquake risk in this blog.

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Agents Risk Broker-Agent Policyholder 40

American Agents Alliance

DECEMBER 8, 2024

Driven by rapid advancements in technology, shifting risks, and increasing policyholder expectations, the industry will likely have different products and services by the time 2025 draws to a close. Read more about 2025 insurance trends and consider how these risks and opportunities may impact your agency.

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Broker-Agent Agents Broker Risk 40

American Agents Alliance

DECEMBER 3, 2024

But for agents and brokers, the social media E&O risks should be considered before engaging on social media. Understand Social Media E&O Risks Social media is a great way to meet consumers and develop the brand of an agency, but mistakes can turn into costly E&O claims. Confidentiality issues.

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Broker-Agent Broker Agents Risk 40

American Agents Alliance

OCTOBER 8, 2024

E&O claims continue to grow in complexity along with the changing insurance landscape. Effectively managing these risks is a critical part of agency operations for any independent agent or broker. Technology offers innovative ways to track and reduce E&O claims with robust tools.

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Claim Broker-Agent Agents Broker 40

ProWriters

FEBRUARY 23, 2025

Security experts also believe China and Iran pose significant cyber risks. Cyber operations can be conducted by state-sponsored groups, independent hackers, or criminal organizations that may claim to act on behalf of a sovereign power and its political objectives. ” Russia isn’t the only actor in current cyber geopolitics.

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Cyber Insured Insurance Insurer 53

LexisNexis

APRIL 1, 2025

Learn how to specify the insurance to be obtained in a building contract so coverage for construction risks is maximized. Impact of Climate Change on Coverage under Builder's Risk Insurance Policies for Renewable Energy Projects Explore issues that might arise under a standard builder's risk insurance policy.

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Commercial General Liability General Liability Commercial Liability 40

Distinguished

MARCH 19, 2025

Mold & Water Damage are also major concerns; leaks or excessive moisture can lead to mold growth that poses health risks. Additionally, Electrical Hazards like exposed wiring or unpermitted electrical workpose serious safety risks. Insurers view these violations as signs of deferred maintenance and increased risk.

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Building Broker Damage Insurance Broker 52

American Agents Alliance

JULY 5, 2024

Agents and brokers can leverage data analytics to help reduce their E&O risk and mitigate losses in several ways. Ways to Leverage Data Analytics to Mitigate E&O Risk Here are some actionable ways independent agents and brokers can use data to mitigate their E&O risk. Improve underwriting accuracy using data.

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Risk Broker-Agent Agents Policyholder 40

Property Insurance Coverage Law

JANUARY 14, 2025

John Putnam wrote an article warning about the dangers of smoke following wildfires, titled, Wildfire Smoke Claims: A Hidden Postwildfire Catastrophe. I made similar warnings in Wildfires Leave Dangerous Health Risks In Surviving Buildings. Putnams article gets right to the point: Where there is fire, there is smoke!

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Property Insurance Building Claim Risk 100

Wren Insurance Agency

NOVEMBER 13, 2024

A surplus lines company is a type of insurer that provides coverage for risks that are unavailable through standard, licensed carriers. Costs can be higher for policyholders and if a surplus lines carrier goes insolvent, existing claims will not be paid by the State. This is where "surplus lines" insurance comes in.

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Insurance Carrier Insured Insurance Insurer 75

Triple-I: Business Insurance

APRIL 24, 2023

In a recent interview with Triple-I CEO Sean Kevelighan, Harger discussed the importance of preparing for and preventing damage from this risk, which is second only to flooding when it comes to costly weather events. Nearly $1 billion in lightning claims was paid out in 2018 to almost 78,000 policy holders, according to LPI.

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Risk Business Interruption Damage Protection 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. How to Use Data Analytics to Keep Policyholders Engaged Retaining a policyholder long-term leads to recurring revenue and an ongoing referral source.

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Agents Insurance Agents Insurance Agent Policyholder 52

American Agents Alliance

OCTOBER 24, 2024

By Mark Robinson In July 2024, a significant class action lawsuit was filed against the California FAIR Plan, accusing the state’s fire insurance backstop of improperly denying smoke damage claims in violation of California Insurance Code Sections 2070 and 2071.

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Damage Claim Broker-Agent Policyholder 40

Distinguished

MARCH 6, 2025

Insurers view these violations as signs of deferred maintenance and increased risk. Additionally, even if insurance is provided, policies may come with exclusions that specifically limit coverage for risks related to unresolved violations. Yes, several legal precedents have shaped how housing violations impact insurance coverage.

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Building Damage Insurance Broker Underwriter 59

Property Insurance Centre

MARCH 19, 2024

Consumer education ensures that individuals are prepared and protected with the proper insurance coverage and are knowledgeable about the claims process. It empowers individuals to navigate the claims process effectively and avoid insurance scams. May experience difficulties and delays when making claims due to lack of understanding.

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Property Insurance Policyholder Insured 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. Reduce liability risks. However, homeowners may be able to take a proactive approach to reducing their rates or at least limiting increases.

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Home Insurance Policyholder Insured Insurer 52

Property Insurance Centre

MAY 17, 2024

The Insurance Act 2015 IMPORTANT INFORMATION – PLEASE READ Duty of Fair Presentation The Insurance Act 2015 imposes an obligation on all policyholders to “make a fair presentation of the risk” prior to the policy commencing. What happens if I do not fairly present the risk? What is a reasonable search?

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Premium Insured Insurer Insurance 52

Distinguished

MARCH 21, 2025

In Chicago, housing code violations not only affect tenant safety and property values but also play a critical role in insurance risk assessments. Then there are electrical hazards , such as exposed wiring or faulty outlets, which pose serious safety risks. Structural problems are also a significant concern.

Building 52

Building Insurance Broker Broker Damage 52

Distinguished

MARCH 17, 2025

With infractions ranging from heating failures to illegal conversions, understanding these issues is essential for assessing risk and underwriting policies. This can pose serious health risks for tenants and lead to significant liabilities. Insurers view these violations as signs of deferred maintenance and increased risk.

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Broker Insurance Broker Building Underwriter 52

Majesco

JUNE 13, 2024

How did it come to the point where insurance doesn’t seem capable of taking the upper hand in the race between risk and profit? Today’s business is navigating so many adverse circumstances and risk-related variables that it almost seems like an impossible equation. Let’s look at just property risk for a moment.

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Triple-I: Homeowners Insurance

MAY 8, 2024

Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s property/casualty insurance market recover from its crisis of recent years, according to a new Triple-I Issues Brief. With only 15 percent of U.S.

Premium 52

Premium Insured Insurance Insurer 52

LexisNexis

JANUARY 28, 2025

Read now » Related Content Design and Construction Defect Claims: Overview and Defense Strategies Discover the basics of a defect claim against a designer or contractor. Learn about discovery and coverage issues and cases involving damages to construction projects and the ways to prove who was at fault.

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Commercial General Liability General Liability Property Damage Injury 40