Authored by Sara Weathers Colorado State University’s hurricane research team has released its early predictions for the 2023 Atlantic hurricane season. It is expected to be slightly below average in terms of activity. CSU’s Tropical Meteorology Project team has predicted that there will be 13 named storms during hurricane season, which runs from June 1 t...

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Authored by Sara Weathers A new study from Marsh Limited, a leading broker of risk and insurance services, shows that having cybersecurity measures in place can reduce the number of cyber incidents that your business experiences. Many businesses use multifactor authorization for their associates, but there are other cybersecurity measures that can be put...

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Authored by Sara Weathers The AdvoCap Insurance Agency, Inc. team is headed to New Orleans, LA, for PILMMA Super Summit to be held May 16-18, at the Ritz Carlton. You may also run into our friends with Advocate Capital, Inc. Stop by the AdvoCap booth #7 and say hello. While you are there, you should enter to win a Nespresso machine. We look forward to a g...

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Authored by Sara Weathers According to an article from Business Insurance Magazine, commercial property rates are on the rise. Most commercial insurance rates rose in February, but commercial property insurance showed the largest average increase. Commercial property rates increased to 8.86% in February, compared to 8.67% in January. This is based on the...

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Authored by Sara Weathers Due to the current levels of risk, flood risk management is under strain, according to a recent Insurance Business Magazine article. The global flood risk is expected to continue to increase in the future. There are multiple factors that are creating a heightened risk of flooding, with climate change being one of the main ones. A...

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Authored by Sara Weathers According to a recent Insurance Journal article, U.S. commercial insurance rates grew during the fourth quarter of 2022 by 4.8%. This was down from 5.2% in quarter 3 of 2022. While rates still showed an increase, the director of Insurance Consulting and Technology, Yi Jing, said the market is starting to show a stabilization tren...

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Authored by Sara Weathers La Nina was stationary over the southeastern part of the United States over the past three years and has finally moved from over the region, according to a recent Insurance Journal article. While La Nina is not the sole reason for the severe weather that has hit the southeast recently, it tends to bring more frequent hurricanes a...

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Authored by Sara Weathers The White House has released a new strategy for cybersecurity to help reduce the risks for both people and businesses. The National Security Strategy released a document that outlines a plan to find “a careful balance between defending ourselves against urgent threats today and simultaneously strategically planning for and invest...

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Business interruptions have become increasingly common in the past few years. Having a risk management plan that minimizes the impact on your firm is now more important than ever. Between the COVID-19 pandemic, supply chain shortages, labor force disruptions, and global unrest, it’s now harder than ever to predict what could affect your firm, its employee...

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Authored by Sara Weathers The COVID-19 pandemic exposed many weaknesses in the world when it comes to communicable diseases. While the world is still recovering from COVID-19, firms need to be thinking about the next one, so they can be adequately prepared. Firms need to be sure that their risk management plans are up to date to protect both their busines...

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