Surety Bonds: The Other Risk Management Tool
April 11, 2024
Surety premiums are only about one percent of property/casualty premiums ($769.3 billion in 2022), but sureties play a critical role in our economy.
Archive for the ‘Business’ Category
Allianz Risk Barometer Says Cyber and BI Biggest Worries
February 22, 2024
Extreme weather events, fires and explosions, geopolitical risks, ransomware attacks and the Covid-19 pandemic have all tested global supply chains in recent years.
New Survey Says Firms Not as Well Prepared to Handle Risk as They Think
February 8, 2024
According to a just released survey by an international brokerage and financial services firm, many organizations are unjustifiably confident of their risk management strategy.
Insuring Against Dishonesty in the Workplace
January 25, 2024
According to a study by Embroker, 75% of employees admit to stealing at least once from their employer. The study also reports that internal theft can cost U.S. businesses up to $50 billion a year.
What is Enterprise Risk Management?
January 11, 2024
Enterprise risk management (ERM) is a methodology that looks at risk management strategically from the perspective of the entire firm or organization.
Social and Economic Inflation Drive Up Auto Liability Claims
December 14, 2023
Combined U.S. personal and commercial auto insurer liability claim payouts were $96 billion to $105 billion higher between 2013 and 2022.
More Rate Reductions Expected for Professional Liability Coverages
November 30, 2023
It looks like the soft markets that started last year for Management Liability (ML) and Professional Liability (PL) insurance will continue to soften over the second half of 2023.
Why Buy Professional Liability Insurance?
November 16, 2023
All kinds of people need professional liability coverage, including financial analysts, corporate trainers, numerous types of consultants and law enforcement professionals.
Professional Liability Policies Are Unique
November 2, 2023
Unlike property insurance or even general liability insurance, the policy wording used for one client is not necessarily suitable for all clients.
Cybersecurity Basics
September 21, 2023
If your business is the typical small or mid-sized business, you probably have somewhere between $500,000 and $2 million in liability coverage under your business owner policy (BOP) or commercial general liability policy. How does umbrella coverage work with these policies to provide extra liability protection?