Insurers and their customers in Florida may feel some relief with the end of this year’s hurricane season. But restoration from the damage left by Ian and Nicole is just beginning. And so are the questions about how the insurance industry will respond. In this month’s Insurance News Analysis, Abbey Compton and I are joined … Read more
According to a new survey conducted by the Insurance Research Council (IRC), most consumers believe attorney advertising increases the number of claims and lawsuits and the cost of auto insurance. The report, Public Opinions on Attorney Involvement in Claims, analyzes consumer opinions on attorney involvement in insurance claims and expands prior research. Overall, 60 percent … Read more
By William Nibbelin, Senior Research Actuary, Triple-I Insurance is priced to reflect the underlying risk of every policy. When more claims are filed and the average amount paid of those claims increases, insurance becomes more expensive. A measure of underwriting profitability for insurance carriers is the combined ratio calculated as losses and expense divided by … Read more
While the financial advice industry has transformed in many ways over the past several decades, one aspect that has remained relatively constant is the use of the Assets Under Management (AUM) fee model as a common way for many advisors to get paid. Though in practice, while a 1% AUM fee is a common ‘starting … Read more
The Hidden Costs of Ignoring Cybersecurity: How SMEs Can Thrive by Being Cyber-Resilient in 2024 Imagine this: a small manufacturing company, running smoothly for over 20 years, suddenly falls victim to a ransomware attack. Their operations grind to a halt, orders go unfulfilled, and within days, the cost of recovery exceeds their entire year’s profit … Read more
