(Bloomberg) — U.S. businesses will probably pay more this year for property coverage after insurers took losses from natural disasters and investment income declined, Marsh & McLennan Cos.’s insurance brokerage said. Half of U.S. clients surveyed by broker Marsh Inc. said the cost of property insurance rose in the last six months of 2011, with [...]
Little Known Homeowners Insurance Risks: Law & Ordinance Coverage
On January 27th, 2012 by admin | No Comments | Posted in Information And TipsYou’re a smart homeowner. You’ve always carried enough homeowners insurance. You’ve reviewed your policy regularly and added coverage when you made improvements. You even have supplement flood and earthquake policies, just in case. So imagine your shock when a fire destroys half your home and you learn that changes to your local or state [...]
Billing System Activity Remains High for P&C Insurers
On January 26th, 2012 by admin | No Comments | Posted in NewsInsurers continue to have a number of functionality and improved technology options when it comes to renewing or replacing billing systems, according to a new report from Celent. In an effort to help insurers refine their systems strategies and, where appropriate, create a list of appropriate vendors for evaluation, the research and consulting firm analyzed [...]
Making Sense of Hurricane Models
On January 25th, 2012 by admin | No Comments | Posted in NewsTo model for purely natural disasters, insurance firms rely on modeling knowledge from companies this sort of AIR Globally, RMS and EQECAT. By carrying out so, they can avail themselves of a deep effectively of scientific understanding and models constantly improved to reflect the newest study. But, insurers will have to pick between the models [...]