Triple-I: Business Insurance

OCTOBER 1, 2024

Another way the insurance industry would be affected is from losses from coverage protecting against adverse business costs of events, such as strikes. These coverages include, but are not limited to, business interruption, political risk, credit, supply-chain insurance, and some marine and cargo.

Insurance Industry

Scott Insurance

JANUARY 28, 2022

While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry. Generally, these policies have higher deductibles than standard policies – $25k, $50k, or $100k are common deductibles.

General Liability

Bankers Insurance

SEPTEMBER 12, 2023

In this scenario, you file a claim using your collision coverage and receive a check from your insurer to cover the repair costs, minus your deductible. After this, your carrier has the right to seek compensation from the insurance carrier of the at-fault party. HOW LONG DOES SUBROGATION TAKE?

Insurance Carrier

American Agents Alliance

FEBRUARY 7, 2025

One of the most challenging and unpredictable issues facing the insurance industry lately is social inflation. This trend describes the phenomenon of unexpected rising insurance claim costs because of societal trends and views toward litigation.

Broker-Agent

Constant Contact

JANUARY 28, 2021

This infographic from the Doeren Mayhew Insurance Group demonstrates the power of visuals for blogs. Q&A features In-depth content is vital to establishing your company as a respected resource within the insurance industry. This is a difficult objective to accomplish in the insurance industry.

Insurance

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

Jackson & Jackson

MAY 22, 2024

Insurers often provide discounts or more favorable terms to properties with proactive risk mitigation strategies in place. Additionally, investors can explore the option of higher deductibles to reduce premiums. By assuming a higher portion of the risk, investors may be able to negotiate lower insurance costs.

Property Insurance

Triple-I: Workers Compensation

APRIL 20, 2021

Similar federal “safe harbor” legislation for the insurance industry – the Clarifying Law Around Insurance of Marijuana Act (CLAIM Act) – was introduced last month. The CLAIM Act would let these businesses obtain insurance to cover the same risks of theft, damage, injury, loss, and liability as all other businesses.

Risk

Bankers Insurance

MAY 16, 2024

Various parts of a home insurance policy can contribute to a homeowner’s premiums. With this in mind, limiting rate increases by making modifications, such as increasing the deductible, may be possible.

Home Insurance

Frankenmuth Insurance

SEPTEMBER 26, 2024

That means bigger financial hits for insurance companies. Factor #4: New insurance risks from electric vehicle sales. Electric vehicles are rising in popularity, but they’re causing a turn in the insurance industry. This content was developed for general informational purposes only.

Insurance

Bankers Insurance

JULY 8, 2024

In most cases, the deductible requires the insured to pay about 10 percent of any loss. A basic K&R policy includes such things as hostage negotiations, ransom payment, loss of income, interest on bank loans and medical/psychiatric care.

Insurance

Redbird Agents

JUNE 14, 2024

Unless you’re securities licensed and registered with FINRA, you cannot market your services as financial planning as fixed and indexed annuities are insurance products. Agent’s falsifying as financial planners is a common problem in the insurance industry, make sure you are working within all your compliance guidelines.

Life Insurance

Word & Brown

JANUARY 23, 2025

If only I had known what was ahead when I got into the health insurance industry in the early 2000s. million Americans were without health insurance. The ACA requires marketplace plans to cover at least one drug in each drug class and to include out-of-pocket Rx expenses in an insured persons or familys deductible.

Out-Of-Pocket