Authored by Sara Weathers Supply chain interruptions have been one of the major side effects of the COVID-19 pandemic. These interruptions have affected both the economy and the flow of goods and services throughout the supply chain. If a business is to experience an interruption, it can be left without the resources to continue functioning as normal.  Th...

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Authored by Sara Weathers As businesses begin returning to working in an office, companies need to review their in-office safety policies to make sure it’s a safe environment for their employees. With reduced use over the past year and a half, business facilities may not be in the same shape they were prior to the pandemic. Fire safety is a main concern,...

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Authored by Sara Weathers  More and more businesses have been going remote since the start of the COVID-19 pandemic, which means that cyber risk has grown exponentially. Firms and businesses have had to quickly turn to doing business virtually so they could still operate in a safe manner. According to a recent interview with Insurance Business Magazine, S...

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Authored by Sara Weathers The United States has had 18 weather and climate disaster events with losses totaling over $1 billion each through the end of September 2021, according to a recent article in Insurance Journal. In the most recent report from NOAA National Centers for Environmental Information, September alone had 10 events ranging from severe sto...

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Authored by Sara Weathers The worldwide crisis caused by the COVID-19 pandemic has highlighted the need for companies to have risk management plans, whether it be for a pandemic, a natural disaster, or a financial crisis.   When the pandemic first began, companies that had contingency plans could react quicker and limit negative repercussions caused by su...

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Authored by Sara Weathers Flood insurance is one of the most underinsured types of insurance in the nation. According to a recent article from John Novaria of the Insurance Information Institute, only 1 in 6 homes in the United States has flood insurance but 90 percent of natural disasters involve flooding. 2021 has seen flooding in various parts of the c...

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On August 29, 2021, exactly 16 years following Hurricane Katrina, the Category 4 hurricane known as Ida reached landfall in Louisiana.  Ida claimed 116 lives, including 96 in the United States. In a recent statement, Risk Management Services Inc. estimates insureds will likely file $25-$35 billion in claims, which does not include the northeastern U.S. th...

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Authored by Sara Weathers Automobile insurance costs are rising, but it's still a good market for consumers looking to purchase it. In 2020, the amount of driving consumers did dramatically decrease compared to prior years. Because of this, auto insurers had to refund $14 billion worth of premiums.   According to an article on CNBC.com, auto insurance rat...

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Authored by Sara Weathers Natural disasters create openings for fraudulent contractors to prey on homeowners that may have just lost everything. These scams can happen when homeowners are already at their most vulnerable and usually begin with a contractor showing up at their door, making promises about what they can fix, and asking to be paid upfront. Af...

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Authored by Sara Weathers California Governor Gavin Newsom recently released the state budget, only allocating $2 billion to wildfire costs.  With the amount of destruction caused by wildfires in California in previous years, and with there being more than 700 wildfires in California from January to June in 2021 alone, this number could be considered low....

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