PropertyCasualty360

PropertyCasualty360 PropertyCasualty360.com is the comprehensive online destination for P&C insurance sellers and buyers providing insurance news, analysis and market trends. http://www.propertycasualty360.com

PropertyCasualty360.com provides highly relevant content, data assets from Summit Professional Networks, a Division of ALM Media LLC, and elsewhere via syndication, data aggregation, content curation and community interaction.

Mission: Helping P&C Insurance professionals solve their biggest problems.

07/20/2019

ICYMI: “Know that storms are considered ‘Acts of God’ or ‘Acts of Nature’ and an insurance company cannot cancel, refuse to renew or increase the amount of a premium on a homeowners policy based solely on this type of incident.” https://news.alm.com/NR6qX91 #HurricaneBarry2019

“A large number of those equipment breakdown losses last year could have been prevented. However, in a booming economy...
07/19/2019
Equipment breakdown risk is on the rise | PropertyCasualty360

“A large number of those equipment breakdown losses last year could have been prevented. However, in a booming economy, many companies aren’t necessarily taking their facilities offline for preventive maintenance, often choosing instead an expensive roll of the dice rather than a more conservative bet,” said Brion Callori, FM Global senior vice president of engineering and research. https://news.alm.com/eH3cq7j

According to an analysis from FM Global, equipment breakdown was responsible for nearly one-third of property-related losses in 2018.

Lockton has accused Alliant in court filings of purposely violating restrictive covenants in the workers’ contracts, w...
07/19/2019
Alliant barred from servicing accounts it allegedly gained from rival's staff | PropertyCasualty360

Lockton has accused Alliant in court filings of purposely violating restrictive covenants in the workers’ contracts, which prevent the employees from soliciting Lockton’s customers and personnel for two years after leaving the companies. https://news.alm.com/cmPiE2q

A Delaware judge issued a preliminary injunction barring Alliant from servicing 55 customers it had allegedly gained after raiding Lockton's staff.

Craig: I’m smack dab in middle of Generation X from a label standpoint. What I see really as the biggest positive chan...
07/19/2019
Young insurance agents: In their own words | PropertyCasualty360

Craig: I’m smack dab in middle of Generation X from a label standpoint. What I see really as the biggest positive change that this generation has delivered is the transition to the use of technology in the industry.

The insurance industry is very conservative by design. Many times it is slow to embrace progress. But we’ve seen drastic changes, whether it was the electric typewriter to then a computer system. But more important than the technology that has come on board is the agents and agencies in my generation who have helped embrace that. Whether it’s management systems, raters, just embracing the Internet — now you’re embracing the web for all of the opportunities.

Jennie: I can piggyback on that. The biggest positive change our generation has already delivered is the digital technology that allows us to enhance our personal relationships with our clients.

The way we go about insurance today is much different that it was 20 years ago. With today’s technology, the practicality of face-to-face customer service isn’t quite as common anymore. With smart phones and tablets, clients can use instant message or email from the start of requesting for a quote to completing an application. There are also capabilities to access policies from phone apps and to request changes on your policy.

https://news.alm.com/grSf0of

Two rising professionals talk about their generation in insurance.

Jim Donelon: “Know that storms are considered ‘Acts of God’ or ‘Acts of Nature’ and an insurance company canno...
07/17/2019
5 insurance tips for recent storm victims | PropertyCasualty360

Jim Donelon: “Know that storms are considered ‘Acts of God’ or ‘Acts of Nature’ and an insurance company cannot cancel, refuse to renew or increase the amount of a premium on a homeowners policy based solely on this type of incident.” https://news.alm.com/cDFglYL #HurricaneBarry2019

This advice from Louisiana Insurance Commissioner Jim Donelon is relevant for anyone facing the insurance claims process after a severe storm.

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