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Was your home or business damaged or destroyed by wildfire? To help simplify the recovery process, we offer this quick guide to what you should know about how the claims process works, and what’s covered.
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This presentation, given at the Casualty Actuarial Society Annual Meeting and available for download, discusses at length how rising frequency and severity is “pinching” the largest property/casualty line.
GUARANTY FUND- The mechanism by which solvent insurers ensure that some of the policyholder and third-party claims against insurance companies that fail are paid. Such funds are required in all 50 states, the District of Columbia and Puerto Rico, but the type and amount of claim covered by the fund varies from state to state. Some states pay policyholders unearned premiums the portion of the premium for which no coverage was provided because the company was insolvent. Some have deductibles. Most states have no limits on workers compensation payments. Guaranty funds are supported by assessments on insurers doing business in the state.
CREDIT DERIVATIVES- A contract that enables a user, such as a bank, to better manage its credit risk. A way of transferring credit risk to another party.
Small Business Saturday is 11/25. If you’ve got a small or midsize business, then you need a disaster recovery plan. Not sure how (or where) to begin? Here’s a simple guide to help make your business more #resilient to bounce back faster. https://bit.ly/2zAuB12 #SMB
U.S. states turn to #cyberinsurance in response to growing threat of #cyberattack. Learn more: https://bit.ly/2zyvl6J #CyberAware Pew Research Center
Small and midsize businesses are as (or even more) vulnerable to #cyberthreats. Cyber insurance policies typically cover costs arising from either a #cyberattack or a data breach, such as responding to lawsuits, repairing damaged infrastructure, and paying ‘ransom’ demanded by cyber extortionists, among other potential exposures, such as business interruption expenses. Our new white paper, “Protecting Against #Cyberfail: Small Business and Cyber Insurance,” details how insurers are working to create coverage products to serve SMBs against these threats. https://bit.ly/2Al1BHr
Thank you to all who have served in our armed forces! #VeteransDay #Military
“How can I protect my small/midsize business from #cyberfail?” The latest I.I.I. white paper on #cyberinsurance has the answers. https://bit.ly/2Al1BHr #SMB
In observance of #VeteransDay and to honor our #military, I.I.I. offices will be closed on Friday, November 10.
Did you know that 86% of small and midsize #businesses lack #cyberthreat coverage? Learn how insurers are fighting to close the gap in the latest I.I.I. white paper, “Protecting Against #Cyberfail: Small Business and Cyber Insurance.” https://bit.ly/2Al1BHr
In the event of a disaster, take these first steps when filing a homeowners #insurance claim: https://bit.ly/2yOHlkK
86% of #SMB lack coverage against cyberthreats. Learn how insurers are fighting to close the gap. https://bit.ly/2lHIkgJ #CyberAware
Worried about filing an #insurance claim after a disaster? Here’s what you need to know before getting started. https://bit.ly/2lXR0jj