Steven Weisbart, Senior Vice President and senior economist,
and James Lynch, Senior Vice President and chief actuary
This presentation, part of a webinar sponsored by the Casualty Actuarial Society, provides and overview of the property/casualty marketplace. It discusses financial trends through the first quarter of the year and recaps the impact of the pandemic and recession on industry results. It also looks at media coverage of pandemic-related insurance issues and the impact on investment markets. In addition, it addresses the outlook for commercial and personal lines and looks
at the phenomenon of social inflation.
https://www.iii.org/presentation/whats-driving-the-p-c-industry-081820
For great rates on business, auto or home insurance,
visit Insurance-NJ.com or Call (888) 543-1160.
III.ORG
What’s Driving the P/C Industry? | III
The COVID-19 pandemic and the recession it started will result in no premium growth for 2020 and a deteriorated combined ratio for the property/casualty industry, according to the new report,
Insurance Information Institute (Triple-I) / Milliman P/C
Underwriting Projections: 2020-2022.
Direct and net premium written will be virtually unchanged from 2019, while the industry combined ratio, a measure of underwriting profitability, is projected to rise to 102 at year-end, up from 99 last year, according to the report, a joint venture of the Insurance Information Institute and Milliman, a provider of actuarial and related products and services. The report, to be published quarterly, was unveiled on August 13 at an exclusive members only virtual webinar moderated by Triple-I CEO Sean Kevelighan.
https://www.iii.org/insuranceindustryblog/recession-pandemic-to-impact-p-c-underwriting-results-new-report-shows/
With business owners facing the ‘new normal’ of a seven-month wildfire season, compounded by rising temperatures, public safety power shutoffs, COVID-19 and civil unrest – wildfire preparation will be more critical than ever this year.
https://resilience.iii.org/resilience-blog/wildfires/safeguard-your-business-from-wildfires-allianz-and-triple-i-team-up-on-mitigation/
For great rates on business insurance, visit Insurance-NJ.com
or call (888) 543-1160.
RESILIENCE.III.ORG
Safeguard your business from wildfires: Allianz and Triple-I team up on mitigation - Insurance Information Institute
On September 27, 1779, the Continental Congress appoints John Adams to travel to France as minister plenipotentiary in charge of negotiating treaties of peace and commerce with Great Britain during the Revolutionary War.
Adams had traveled to Paris in 1778 to negotiate an alliance with France, but had been unceremoniously dismissed when Congress chose Benjamin Franklin as sole commissioner. Soon after returning to Massachusetts in mid-1779, Adams was elected as a delegate to the state convention to draw up a new constitution; he was involved in these duties when he learned of his new diplomatic commission.
https://www.history.com/this-day-in-history/john-adams-appointed-to-negotiate-peace-terms-with-british
Wildfire season is well underway with millions of U.S. properties at risk. Triple-I and the American Property Casualty Insurance Association have joined together to offer these helpful tips for protecting
your home from wildfires:
✔️Review coverage limits annually with your insurance
company and know what’s covered
✔️Consider purchasing building code upgrade coverage
✔️Make sure you know if you have a replacement cost policy
or actual cash value coverage
✔️Let your insurer know about any home
improvements that you make
✔️Continue to maintain insurance even after
your mortgage is paid off
✔️Consider renters insurance – you may not own the home,
but you still own what’s inside
✔️Take a home inventory every year
https://resilience.iii.org/resilience-blog/wildfires/wildfire-reality-check-tips-for-protecting-your-home/
For great rates on home insurance,
visit Insurance-NJ.com or Call (888) 543-1160.
RESILIENCE.III.ORG
Wildfire reality check: Tips for protecting your home - Insurance Information Institute
“Success usually comes to those who are too busy to be looking for it."
- Henry David Thoreau
Wildfire season is well underway with millions of U.S. properties at risk. Triple-I and the American Property Casualty Insurance Association have joined together to offer these helpful tips for protecting
your home from wildfires:
✔️Review coverage limits annually with your insurance
company and know what’s covered
✔️Consider purchasing building code upgrade coverage
✔️Make sure you know if you have a replacement cost policy
or actual cash value coverage
✔️Let your insurer know about any home
improvements that you make
✔️Continue to maintain insurance even after
your mortgage is paid off
✔️Consider renters insurance – you may not own the home,
but you still own what’s inside
✔️Take a home inventory every year
https://resilience.iii.org/resilience-blog/wildfires/wildfire-reality-check-tips-for-protecting-your-home/
For great rates on home insurance,
visit Insurance-NJ.com or Call (888) 543-1160.
8 questions to ask before buying auto insurance
(Make sure your car coverage reflects your needs and budget):
1. How much do you drive?
2. Will you be using your car for work?
3. What type of car do you drive?
4. How much do you love your car?
5. Where do you live—and park your car?
6. Who else will be driving the car?
7. What are your legal obligations?
8. Is your car financed or leased?
Need a quote on an auto insurance policy? We shop multiple providers to find you the best rate! Visit Insurance-NJ.com or call (888) 543-1160.
Do I need business interruption insurance?
Most people would never consider opening a business without first purchasing property insurance to cover the cost to repair or replace a building or equipment that’s been damaged due to a covered peril. But too many business owners fail to think about how they would keep their business afloat if they were forced to temporarily close. Business income (interruption) coverage also known as
business income coverage (BI), can help with operating expenses during the period of restoration, and includes:
1. Lost net income (based on financial records)
2. Mortgage, rent and lease payments
3. Loan payments
4. Taxes
5. Employee payroll
https://www.iii.org/article/do-i-need-business-interruption-insurance
For great rates on many types of business insurance
visit Insurance-NJ.com or call (888) 543-1160.
On this day in 1792, the cornerstone is laid for a presidential residence in the newly designated capital city of Washington, D.C.
In 1800, President John Adams became the first president to reside in the executive mansion, which soon became known as the “White House” because its white-gray Virginia freestone contrasted strikingly with
the red brick of nearby buildings.
https://www.history.com/this-day-in-history/white-house-cornerstone-laid
Whether you’re running a part-time, seasonal or full-time business from your home, you’ll want to carefully consider your risks and insurance needs. Starting a business—even at home—can be a challenging venture, and having the right insurance can provide a financial
safety net and peace of mind.
https://www.iii.org/article/insuring-your-home-based-business-0
For great rates on home-based business insurance or traditional business insurance, visit Insurance-NJ.com or call (888) 543-1160.
Five insurance mistakes to avoid... (and still save money)
Avoid these common mistakes and you’re on your way to getting the best insurance for your needs and budget
1. Insuring a home for its real estate value
rather than, for the cost of rebuilding.
2. Selecting an insurance company by price alone.
3. Dropping flood insurance.
4. Only purchasing the legally required amount of liability for your car.
5. Neglecting to buy renters insurance.
https://www.iii.org/article/five-insurance-mistakes-avoid-and-still-save-money
For great rates on insurance policies, visit
Insurance-NJ.com or call (888) 543-1160.
“Try not to become a man of success. Rather become a man of value.”
– Albert Einstein
Hurricanes can shatter lives as well as damage property. Being prepared can help you, your family or your business minimize the impact of the storm. The best way time to start is before the threat is imminent.
Here's what you need to know.
https://www.iii.org/article/preparing-hurricane
For great rates on homeowners insurance visit Insurance-NJ.com
or call (888) 543-1160.
The more positive you are, the more productive you will be. Have a mighty Monday!
For great rates on business, auto, home, or life insurance.
Visit Insurance-NJ.com or Call (888) 543-1160.
Whether you are working or relaxing today, reflect on your purpose or motivations you have for the week ahead. May this time of reflection, lift you up to new heights!
To weigh in on great rates on business, home, auto, or life insurance visit us online at Insurance-NJ.com or call (888) 543-1160 and learn more about your insurance options!
Motivational Monday! Let's make it powerfully positive and in the process, productive.
We are motivated to protect our clients financially. For great rates on business, auto, home, or life insurance visit Insurance-NJ.com or call (888) 543-1160.
Don't cave when it comes to high insurance rates! Let us offer you our support before the possibility of what you see in this image.
Visit Insurance-NJ.com or call
(888) 543-1160.
Happy Saturday everyone! We hope your weekend is a fantastic one.
Visit Insurance-NJ.com or call
(888) 543-1160.
“Every day that we spent not improving our products was a wasted day.”
— Joel Spolsky (software engineer and writer)
For some great rates on various insurance
policies, visit Insurance-NJ.com
or call (888) 543-1160.
