Authored by Sara Weathers The drought and wildfires in the western United States are set to continue due to La Nina that remains in the area. According to the Insurance Journal, it is a natural but potent weather event causing the megadrought. La Nina usually has the worst effects in the winter, which is supposed to be the west’s rainy season, preventing...

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Authored by Sara Weathers Inflation has risen at the beginning of 2022, but according to an article from Insurance Journal, it appears to have peaked for the year. Despite inflation, U.S. consumer spending rose more than expected in April. The article also states that the Federal Reserve trying to fight high inflation rates has led to fear of a recession....

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Authored by Sara Weathers With hurricane season approaching, now is the time to make sure your property insurance is up to date. Newswise shared some tips to help you be prepared if a hurricane hits your area. Checking your insurance coverage is extremely important when it comes to preparing for hurricane season. Most policies will cover wind damage, but...

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Authored by Sara Weathers  Now more than ever, businesses need to be thinking of their risk management plans. According to Insurance Business Magazine, there is an elevated risk in many areas such as the pandemic, cyber security, threats to the supply chain, and war/political tensions. Businesses should be taking proactive measures to protect themselves a...

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Authored by Sara Weathers With many companies still working remote due to the COVID-19 pandemic, an environment for cyber criminals to thrive has been created. According to Insurance Business Magazine, one of the most popular tactics being used is impersonator fraud. Impersonator fraud happens when the cyber criminal pretends to be another person or busin...

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Authored by Sara Weathers Cyber-attacks have become more prevalent over the past few years and if the United States were to enter into war, President Joe Biden stated that there could be “a cyber breach of great consequence”. The amount of technology available today is something that the world hasn’t dealt with in wartimes yet. Max Smeets, director of the...

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The invasion of Ukraine presents Lloyd’s of London with potential major claims this year. Around 100 members of Lloyd’s underwrite complex risks, including planes, ships, and oil rigs. According to this article by BusinessInsurance.com, the aviation insurance market is considerably exposed to the situation in Ukraine. Chairman Bruce Carnegie-Brown told Re...

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Authored by Sara Weathers Russia’s invasion of Ukraine in February has led to sanctions being put into place on Russia. According to a recent article from Insurance Business Magazine, these sanctions have caused a global economic squeeze that could last for months or years. The sanctions that have been put into place are meant to cut Russia off and create...

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Cyber attacks and data breaches have become the conversation of choice for many in recent weeks. Government entities are no exception. According to this article, in March, the Texas Department of Insurance announced that it experienced a data breach. The web application managing the state’s workers’ compensation information was compromised. The department...

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Authored by Sara Weathers According to a recent article from Insurance Business Magazine, commercial property insurance rates have increased by double digits for two straight years. Rates are unlikely to drop any time in the near future. Severe weather events are one of the biggest challenges that both insurance brokers and clients are facing. States like...

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