Flood Insurance Payout for H. Ian

Recovery Diva

Billion in Hurricane Ian Flood Insurance Claims Payments. 10, the National Flood Insurance Program (NFIP) has received more than 44,000 flood claims from Hurricane Ian and has paid nearly $437 million to policyholders From hstoday: FEMA Projects Up to $5.3 As of Nov.

Calculating Flood Insurance Rates

Recovery Diva

Taxpayers Still Helping Pay for FEMA Flood Insurance. For decades, taxpayers have been subsidizing flood insurance rates, but new premium calculations by FEMA will adjust rates to better reflect the true risk of flood-prone homes

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Women in Insurance: Kacie Conroy, Director of IT, M3 Insurance

Chisel AI

Now is the time for Insurance companies to deepen their understanding about IT and Innovation. Women in InsuranceThey can start by looking at tech companies. It all comes down to two things. Merge the IT and business worlds together to innovate and to experiment early and often.

Comment re flood insurance

Recovery Diva

Corporations and businesses already write off the costs of risk insurance premiums. Risk insurance premiums based on local conditions blames the property owners for governmental legacy decisions far beyond the owners’ control. Confiscatory localized insurance costs may amount to a federally driven taking of property which eventually ends up as a federal expense. Insurance providers walked away from flood coverage long ago.

An Insurance Debacle is coming to Florida Homeowners

Disaster Zone blog

No insurance and no flood insurance will sink many people

Do You Need Cybersecurity Insurance?

LAN Infotech

Do You Need Cybersecurity Insurance and Do You Qualify for It? It will also be challenging for businesses without insurance coverage because they will incur more losses that stall their growth and continuity. But the question is, do you qualify for cybersecurity insurance?

Should You Revisit Insured Property Value Estimates?

Risk Management Monitor

One of the first steps in obtaining commercial property insurance is to determine the value of the property being insured. On the other hand, performing an appraisal (which insurers typically consider the “gold standard”) can provide much-needed accuracy and thoroughness, but will require a greater commitment of time and resources. At times, elevating the accuracy of a property value estimate can provide significant advantages during the insurance placement process.

Climate Change and the Outlook for Commercial Insurance: David Marlett, Brantley Risk and Insurance Center

Chisel AI

Insurers and their agents have not had to deal with inflation in decades, now they have the risk of offering a premium that becomes inadequate after a year of inflation. Insurance Industry News & ViewsThe trends with the biggest impact are inflation and cyber.

Defining the Characteristics of an Effective Insurance Change Agent

Chisel AI

Change agents are essential to overcome organizational inertia and resistance to change; they help motivate and align people around the “how and why” of insurance innovation. Digital Transformation Insurance Industry News & Views

Insurers May Increase Their Role Re Fire Risk

Recovery Diva

Insurers think they have an answer From Politico: California continues to face wildfire risks.

Women in Insurance: Nicole J. Gunderson, Managing Director, Global Insurance Accelerator

Chisel AI

Women in Insurance

Buy Flood Insurance Now!

Disaster Zone blog

You don't need to be in a flood plain to get flooded

Cyber Insurance in Fort Lauderdale: How to Protect Your Business

LAN Infotech

Cyber Insurance in Fort Lauderdale: How to Protect Your Business. As the threat of cybercrime grows, so does the need for cyber insurance. Cyber insurance can help protect your business from the financial damages of a cyberattack. What Is Cyber Insurance?

Women in Insurance: Q&A with Nancy Mellard, Chair of The Council of Insurance Agents & Brokers

Chisel AI

The insurance industry has to identify and evaluate diverse talent looking at new skill sets and work experience that, traditionally, were either not utilized or valued during the selection process. Women in Insurance

Making Insurance More Human: A Customer-Centric Approach to Underwriting

Chisel AI

Insurers must continue to focus on automation as a means of responsiveness with a holistic approach to customer experience or risk being left behind. Digital Transformation Insurance Industry News & Views

Women in Insurance: Sherisa Crevier, Chief Operating Officer, Parker, Smith & Feek

Chisel AI

Women in Insurance"Those of us that are in these positions, men and women alike, have a responsibility to develop the women around us to take on those roles." – Sherisa Crevier, COO, Parker, Smith & Feek.

Building a More Diverse Insurance Industry: Adrian Stewart, Public Sector Field Practice Leader, Travelers

Chisel AI

The insurance industry faces a recruitment challenge with millennials and Gen Z choosing professions they believe to be more progressive, challenging, and fun. What can insurers do to entice new talent? More than ever, insurers need to create a work-life balance friendly environment.

Inflation Considerations for Risk Managers and Insurance Buyers

Risk Management Monitor

Inflation’s Impact on the Insurance Market. In light of current economic conditions, the directors and officers (D&O) insurance market is now facing several notable inflationary risks. With high unemployment and higher costs, this also poses a risk to employment practices liability (EPL) insurers. A strong EPL policy and relationship with insurance carrier and broker can help during this time where unemployment may swing back the other way.

By Investing in Technology, Insurers Invest in Their Customers

Donyati

Technology will transform business in few industries as dramatically as in the insurance industry. In general, the insurance industry trends notoriously toward reliance on outdated legacy IT systems. Consulting Insurance

INSURERS PREPARE TO SEEK RATE RISES AFTER DISASTERS

Disaster Zone

This headline was from 1992

How insurers can attract and retain the right talent

Citrix

And, while the industry as a whole may be optimistic about accelerated growth, the insurance sector is no exception to these hiring challenges. In fact, according … The post How insurers can attract and retain the right talent first appeared on Citrix Blogs.

Cyber Insurance 101: 5 Things Senior Management Needs to Know

Reciprocity

Hence cyber insurance has become a lucrative product for insurance companies, and a must-have for businesses that want to offset the costs of attack-inflicted damage. What Is Cyber Insurance and Why Do You Need It? Cyber insurance costs can vary due to a number of factors.

Women in Insurance: Susan Penwarden, Chief Technical Underwriter, Aviva Canada

Chisel AI

How do you see commercial insurance underwriting evolving, and which technologies and digitization initiatives should carriers focus on to empower their teams and make their underwriting processes more efficient, profitable, and responsive to customers? Women in Insurance

Women in Insurance: Meg McKeen, Founder & Chief Confidence Builder, Adjunct Advisors

Chisel AI

It’s safe to say that the insurance buying experience sometimes falls short of customer expectations, especially in commercial lines where manual processes often create friction and delays. Women in Insurance

Understanding Cyber Insurance

Behavior Group

Cyber Insurance Data breaches have led enterprises to invest more in cybersecurity programs. Keith Moore, CEO (…), believes that consumers increasingly will take cybersecurity into their own hands and purchase cyber insurance policies. Risk Management Security Cyber Insurance

Cybersecurity Insurance to Protect Your Data

Online Computers

To face these unforeseeable attacks, you can prepare ahead of time by taking out a dependable cybersecurity insurance plan. Boost Your Protection with Cybersecurity Insurance. It is wise to consider investing in a comprehensive cybersecurity insurance plan.

Tips for Fostering a Culture of Innovation in Insurance: Mark Rieder, SVP, Head of Innovation, NFP

Chisel AI

Our initial focus was on gaining a better understanding of all the insurtech platforms, products, and solutions that were coming to market that we felt were poised to enhance the insurance industry and our business. Insurance Industry News & Views

The Great Resignation in Insurance: Q&A with Grace Grant, Executive Director, Gamma Iota Sigma

Chisel AI

How has the Great Resignation impacted the insurance industry? Insurance Industry News & ViewsOver the course of the pandemic, we’ve seen a record number of employees leave the workforce.

Women in Insurance: Jocelyn Getson, Chief Growth Officer, Bindable

Chisel AI

I truly feel that we are doing positive things every day in the insurance space by helping people in their times of need, while making things easier for everyone involved through technology. Women in InsuranceWhat do you find most fulfilling about the work you do?

Women in Insurance: Q&A with Sabine VanderLinden, CEO & Managing Partner, Alchemy Crew

Chisel AI

What attracted me to insurance is the relationship-led and no-nonsense culture that many market participants apply when doing business. Women in Insurance

AI Wisdom Ep. 38: Successfully Scaling Insurance Innovation

Chisel AI

Digital Transformation Insurance Industry News & ViewsAmy Radin believes that transformation starts with cultural transformation, and that transformation begins with the C-Suite.

Women in Insurance: Manisha Bhargava, Global Head of Sales, Alliances, and Solution Engineering, Innoveo

Chisel AI

Women in InsuranceYou’ve managed cross-functional teams of 300 to 3,000 employees. Throughout the pandemic, business leaders have had to manage distributed teams, and everyone has had to learn to collaborate 100 percent virtually.

Global Insurance Carrier Implements Chisel AI Submission Intake and Policy Check

Chisel AI

Insurance Industry News & Views“We’re excited to work with Zurich to roll out Submission Intake and Policy Check to help them enhance underwriting efficiencies and the broker and policyholder experience,” said Jason McDermott, President and CEO, Chisel AI.

The Road Ahead for Commercial Auto Insurance: 5 Trends to Watch

Chisel AI

“Commercial auto’s been pressured for roughly a decade and I think a lot of carriers continue to struggle with auto performance,” said Tony Fenton , Vice President of Commercial Lines Underwriting and Product, Nationwide , one of the top five commercial auto insurers, in a recent podcast.

Wanted: Courageous Change Agents – How Courage Coupled with Technology will Propel Insurance Innovation

Chisel AI

Digital Transformation Insurance Industry News & Views

Hurricane Ian Damages, Insurance and Model Community

Disaster Zone blog

A 60 Minutes segment

How NeoInsurance is disrupting traditional Insurance

Advancing Analytics

Insurance Disruption. In my last blog we looked at a series of Machine Learning approaches for personal line insurance products. Who is pushing the insurance field forward? With NeoInsurance we are looking at a modern form of insurance.

The Future of Commercial Insurance: AI and Humans Working Together

Chisel AI

Basically, AI is a prediction engine. The more data you feed the system, the more accurate it gets over time. The human-in-the-loop (HITL) approach combines the best of human intelligence and judgement with the best of machine intelligence.

RIMS TechRisk/RiskTech: Using Cyberrisk Analytics to Improve Your Cyber Insurance Program

Risk Management Monitor

As ransomware continues to spread and payment costs increase, cyber insurance rates have gone up exponentially. Armed with this data, companies can take steps to make it easier to access optimal cyber insurance coverage and better insurance pricing. Cyber Crime Cyber Insurance Emerging Risk Loss Control Modeling Risk Management Security Technology Risk cyber insurance cyberrisk management data analytics loss control

Your Guide to Cyber Liability Insurance and Data Protection

Unitrends

The post Your Guide to Cyber Liability Insurance and Data Protection appeared first on Unitrends. Today, almost all businesses have an online presence. Even physical business establishments, such as brick-and-mortar shops, store and maintain some data online.