There has been a lot of buzz lately about the National Flood Insurance Program (NFIP) as we approach the renewal date for the program (September 30, 2017). The NFIP was enacted in 1968 and enables property owners in participating communities that do not qualify for traditional flood insurance to purchase alternative protection to receive disaster […]
Month: July 2017
How Commercial Drone Use Creates a New Liability for Businesses
In August of 2016, Federal Aviation Agency Rule 107 went into place, which allows non-recreational operators to fly drones in U.S. airspace assuming that they complete a certification process. While this opened up the door for insurance carriers to consider using drones as inspection technology to strengthen underwriting, it also opened up the floodgates for […]
Why Your Underwriting Partner Needs to Offer Versatility to Meet Customer Needs
In today’s unpredictable world, you need an underwriting partner that is not only thorough in evaluating risk, but also can put together solutions to address the unique needs of insureds. With increased competition from other insurance carriers in the marketplace, your underwriting partner needs to place as much emphasis on customer satisfaction as on proper […]
How Insurance Risk Services Can Protect Your Business From Declining Profits
We’ve talked about how 2016 was a challenging year for the property and casualty insurance industry, particularly in regards to profitability. According to the latest Swiss Re Institute study, although insurance premiums increased in 2016 (3.7 percent growth in 2016), profitability for the property and casualty industry continued to decline. To demonstrate this decline, the […]
