PC360 Markets

Your resource for P&C insurance markets news & info - including specialty insurance, E&S, and reinsurance.

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Recent booms in building and logistics have helped drive growth for the inland-market insurance market, which saw direct premiums written in the U.S. inland-marine sector increased 14.3% in 2022.

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WSIA has strongly supported the National Association of Registered Agents and Brokers (NARAB), a national solution for brokers that have multiple non-resident producer licenses. And although it became law in January 2015, it has yet to become operational.

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The executive order tasks the state's insurance department with improving the rate approval process to make it faster and more transparent.

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When women are provided with identical resources as men to climb the corporate ladder, insurance organizations reap the benefits. Some initiatives organizations might consider include woman-to-woman mentorships.

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@The_WSIA Diversity Foundation Board, now with 13 members, has developed a three-year roadmap for the Foundation’s work that includes three categories: Student & Talent Outreach, Member-Focused Inclusive Culture and Association-Focused DE&I.

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“My parents were public educators, so I didn’t have a whole lot of exposure and experience with corporate America,” shared Amwins EVP Nick Abraham. “My mentors helped craft my path and helped me learn to exist in a world I was totally unprepared for."

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Members of @the_WSIA board detail what keeps them enthusiastic about whole insurance, the benefits of being involved in industry trade groups and other #insurancecareer insights.

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Gain a better understanding of the surplus lines market by looking at how an agent would go about securing coverage for a modern-day Animal House. The video was produced for @The_WSIA Spring 2023 Undergraduate Video Content.

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State Farm, which writes slightly more than 20% of California's home insurance policies, reported its stop seeking new business in the state because of growing construction costs, increasing catastrophe exposure and a difficult reinsurance market.

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The awards program recognizes risk managers and employers whose safety, risk mitigation and return-to-work programs are success stories based on actual workplace results.

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A new approach has emerged for touchless claims called Generalized Scene Reconstruction (GSR). Referred to by some as “the new 3D,” GSR is a 5D method for automatically virtualizing objects and scenes from images.

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The issue of water backup and overflow is quite complicated, and a lot depends on the particulars of the given situation.

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The awards program recognizes risk managers and employers whose safety, risk mitigation and return-to-work programs are success stories based on actual workplace results.

https://t.co/nU0MhoICTu

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“Independent agents do more than sell insurance – they serve as trusted advisors, matching the best possible insurance solutions to their customers’ needs,” Michael Klein, executive vice president and president of personal insurance at @Travelers, said.

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Growing costs for construction materials and labor could be driving commercial properties to be undervalued by as much as 30% for underwriting purposes, according to Tüv Süd Global Risk Consultants Corp.

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Sherri E. Onks, special agent in charge of the FBI’s Jacksonville Division, said Thomas’ victims didn’t realize their policies were fake until “after disaster stuck.”

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Parametric insurance can help meet this challenge by providing coverage based on predetermined and objective data triggers instead of manual and often a subjective assessment of physical damage.

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@HiMarleyInc analyzed 25k claims and found that when insureds have a bad claims experience, they are more likely to switch carriers. Timeliness of service, process effectiveness and adjuster attitude determine satisfaction. #insurance #claims

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“As marijuana legalization increases across the U.S., we wanted to create a professional designation that would benefit anyone serving or working in the ever-evolving cannabis industry,” shares Molly Miller, ALM’s chief content officer.

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