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...

Read More About The Cost of 2021’s U.S. Weather Events

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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Authored by: Sara Weathers It’s peak hurricane season and property insurance is a necessity this time of year. With the prices of construction materials and labor staying inflated due to COVID-19, it’s imperative that property owners communicate with their insurance consultants to ensure all their coverages are up to date.   In a recent interview with Bet...

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Authored by Sara Weathers   With more and more companies moving to a virtual workspace these days, cyber security is more important than ever. Years ago, financial institutions, such as banks and credit unions, retail stores, and healthcare organizations, like hospitals, were the main targets for cyber-attacks. Now, any company with an online presence and...

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