P&C Market Update: A tale of two markets
The property and casualty (P&C) marketplace is in somewhat of a state of uncertainty. The market has continued to expand with the improving US economy. However, carriers are experiencing deteriorating underwriting results. In this environment, it is important to...
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Captive Solutions for the Trucking Industry
Throughout the last eighteen months, premiums within the commercial auto space have risen steadily and sometimes dramatically. Underwriters are struggling to turn a profit, and insureds continue to look for alternative program structures to help stabilize...
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Environmental Insurance Expects Healthy Competition in Uncertain 2017
2016 was a tumultuous year for the Environmental Insurance market. The unexpected exit of AIG, one of the most significant carriers by market share and capability, was followed by the emergence of new carriers and little, if any, impact on rates. Moving non...
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Four Common P&C Issues Impacting Higher Education
Property & Casualty insurance coverage for higher education has always been complex. There is one factor that most have in common – diversity of exposure. Each school or department is like a different company with rules, hierarchy and status. This makes it tough to control for a risk manager or the individual with insurance responsibility. Each school needs to undergo its own risk identification process.
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Hired and Non Owned Automobiles – What Does That Really Cover?
Employees often use their own personal vehicles for business purposes. As auto rates increase you may want to think about what happens when an employee driving their car for business, gets into an auto accident. Knowing what your Hired and Non Owned Automobile...
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Leading With Empathy: Uncovering Claimants’ Fears
How long is this pain going to last? What if I can't do my job when I return to work? How will I pay my bills? These types of questions can be overwhelming for an employee who has suffered an injury on the job. Having the right kind of conversation can...
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If Your Product Was Faulty, Would You Really Be Insured?
Product failure is widely seen as a growing commercial exposure for manufacturers. We only need to look at Samsung Electronics’ recent exploding phone scandal to get a sense of the possible impact. The South Korean company’s flagship Galaxy Note 7 smartphone...
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The Advantage Stays with the Buyer
It’s still a buyer’s market in commercial insurance. Major changes have created strong competition, ample capacity and lower prices during the past several years. Lockton’s December 2016 P&C Market Update states that the competitive landscape continues, as...
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Navigating the Combined Liability Policies
When AIG introduced the “Eagle” program in the early 2000’s, it was the first of its kind. The insurance carrier combined the General Liability (GL) and Pollution Legal Liability (PLL) policy to eliminate coverage discrepancies between standalone GL and PLL policies....
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Five Reasons Retirement Plan Sponsors Can Feel Thankful
In what may feel like the occasionally thankless business of retirement plans, it can be easy to lose sight of the positives associated with these benefits. That’s why it is important to pause occasionally and remind oneself that there is quite a bit for which to be...
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Company in a Crisis
Placement of Excess Casualty programs is an inherently pessimistic exercise. Together with our clients, we examine their risk profiles and explore various exposures faced by their businesses. Throughout this analysis, we are wired to think: what’s the worst...
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Avoiding Punctures – How to Mitigate Execution Risk with W&I Insurance
Insurance for mergers and acquisitions risks (namely Warranty & Indemnity, Tax, Legal and other related contingencies) has come a long way since the early 2000’s. Back then there were limited insurers with a fairly restricted appetite, resulting in coverage that...
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New York Banks and Insurers are the Focus of Proposed Cybersecurity Regulations
Banks, insurance companies and other financial service companies licensed or chartered by the state of New York will likely soon face increased cybersecurity requirements. Two years in the making, New York’s Governor Cuomo announced proposed cybersecurity...
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