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By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader November 1, 2022
2022 has been a year of tremendous instability in the insurance market. Supply chain disruptions, labor shortages, geopolitical instability, and inflation (both economic and social), have challenged the most seasoned executives and business owners in ways they could never have imagined. As we prepare to close out 2022 and begin forecasting for 2023, our hope is that this short article gives you a glimpse of what we’re expecting from the Property & Casualty business insurance market in the year ahead as well as a few things businesses can do starting today to put themselves in a position…
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader October 4, 2022
Insurance costs for builders and contractors are on the rise. While it is helpful to understand the why, more important is understanding what you can do to help suppress these cost increases. Here are a few things that builders and contractors can do to help put them in a more favorable pricing position:
Complete a full loss control assessment of your safety practices. Do you have a formal safety program? A safety manual? When was the last time they were updated? Do you have daily “toolbox talks” or other sharing sessions? …
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader October 13, 2021
It’s imperative that insurance brokers do our part to raise awareness about the importance of cybersecurity for individuals and businesses. Cyber insurance is a component of a healthy cybersecurity strategy yet many businesses, both small and large, continue to operate without proper coverage. I recently sat down with Travis Whitmill, Vice President of Evolve, a nationally recognized cybersecurity insurance specialist, to discuss everything cyber insurance. Evolve was named “Advisen Cyber MGA of the Year” in 2020 and 2021.
1. Cyber insurance is still foreign to many businesses. How would you describe it in 30 seconds to a business owner?
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader May 4, 2021
Businesses were already becoming more and more digital, then the pandemic hit and that transition increased significantly – even businesses that may not have considered online solutions before were forced to adapt. With more business happening online, there are new threats that business owners need to be prepared for – computer viruses, data breaches, malicious hacking, and other cyber-crimes. To help cover the cost related to these potential exposures, the insurance industry has policies tailored to cover the loss and damages.
What is Cyber Liability Insurance?
Cyber liability insurance is a newer coverage that has evolved from the digitization of…
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader July 7, 2020
The segment for commercial automobile insurance is continuing to experience deteriorating results. In fact, commercial auto insurers reported the worst losses in a decade, according to this article from Insurance Journal. Driven by numerous factors including costlier litigation from social inflation and increased repair costs, the average business may see double-digit rate increases on upcoming renewals on their commercial automobile line of insurance! There are ways to help control that expense.
Here are two things to keep in mind as you’re preparing for your insurance renewal:
Proper safety and loss control techniques can help you decrease the frequency and severity…
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader April 23, 2018
As business becomes increasingly digital, there are new threats that business owners need to be prepared for. As companies experienced losses and damages due to computer viruses, data breaches, malicious hacking, and other cyber crimes, the industry responded with insurance policies tailored to cover the costs related to these exposures.
What is Cyber Liability Insurance?
Cyber liability insurance is a newer coverage that has evolved from the digitization of business in the 21st century. Cyber liability insurance generally covers your business’ liabilities for a data breach or cyber crimes involving sensitive customer information, such as Social Security numbers, credit card…
