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What is a Managing General Agent (MGA) in Insurance?

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Here are just a few of the ways that MGAs and insurance brokers differ: Underwriting and policy issuance : Traditional brokers sell insurance policies but must go through an insurer to get coverage approved. MGAs, on the other hand, have the authority to underwrite, price, and even issue policies on behalf of insurers.

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What Agents Should Know About Tariffs and Insurance Costs

American Agents Alliance

Rising expenses could perhaps cause higher insured values, leading to policy adjustments and higher premiums. This could cause higher rates in commercial property and homeowners lines. Tariffs can also drive up inflation in the overall economy, increasing labor costs across industries.

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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

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An increase in construction also means an increase in financial risk. All of which can cost their property or business owners millions of dollars in losses without adequate insurance coverage. This is why the popularity of Builder’s Risk insurance is growing. This is where Builder’s Risk becomes essential.

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Proactive Tips for Businesses Facing Hail Damage Claims

Risk Management Monitor

As companies assess their natural disaster preparedness, there are some proactive measures that should be taken specifically for hail to leave organizations best positioned for any resulting insurance claims. Let’s say you operate a business in Plano, Texas, and have a commercial property policy with a renewal date of January 1, 2022.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

. “The increasing frequency and severity of weather events have made it imperative for insurers to reassess their risk models and coverage options,” says weather expert Dr. Emma Thompson. Insurers are investing in advanced technology and data analytics to improve risk assessment and underwriting processes.

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The Pressures of Operational Optimization

Majesco

Most insurers are in a sort of pressure-cooker situation where challenges are creating pressure and good decisions need to be made. They are looking at their financials, growth, profitability, pace of technology change, increasing risk, and customer demands to determine next steps with their technology foundation.

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Blog Post: Commercial Property Owners: Plan Ahead and Prepare for Emergencies!

LexisNexis

Read now » Related Content Cybersecurity and Data Privacy in Commercial Real Estate Learn about key considerations for evaluating cybersecurity and data privacy practices when counseling owners of commercial real estate (CRE), including steps for mitigating the risk of unauthorized release or exposure of data in the possession of CRE owners.