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Rapid Growth of TPLF Impacts Insurance Affordability

Rapid Growth of TPLF Impacts Insurance Affordability

Over the last decade, third-party litigation funding (TPLF) has evolved into a $17 billion industry worldwide, and 52% of that money is being spent in the U.S., making TPLF a key contributor to social inflation, hiking up jury awards and claim settlements that may have a significant impact on insurance prices and coverage availability.

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2022 State of the Insurance Market

2022 State of the Insurance Market

When faced with the promise of a new year, many people look ahead – leveraging lessons from the prior year to chart a path forward, overcome obstacles, and reach for a new goal. The best in the insurance industry often do the same thing as they examine market conditions and strive to meet client needs in an ever-evolving landscape.

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Multi-Factor Authentication (MFA): A Must Have for Cyber Coverage

Multi-Factor Authentication (MFA): A Must Have for Cyber Coverage

Over the last few years, the rate of ransomware attacks and other cybercrimes have skyrocketed in both frequency and severity. As employees continue working from home due to the lingering pandemic, they create, access, and share more data remotely, causing the number of security blind spots to balloon and creating space for costly attacks.

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Understanding the Value of Contractors Professional Liability Insurance

Understanding the Value of Contractors Professional Liability Insurance

The North American Industry Classification System (NAICS) reports that there are around 1.3 million U.S. contractors with annual revenues of less than $5M. While virtually all are protecting their businesses with General Liability, Workers Compensation, and other insurance coverages, many have failed to consider purchasing professional/pollution liability insurance, even though both are not covered under a typical commercial general liability (CGL) policy.

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Marketplace Tight for Healthcare Risks Despite New Capacity

Marketplace Tight for Healthcare Risks Despite New Capacity

Healthcare is a diverse industry, ranging from individual practitioners and home health nurses, to ambulatory care centers and integrated systems with revenues in the billions of dollars. The risks along that spectrum also vary widely, but the insurance marketplace for healthcare organizations has been almost uniformly tight. Several insurance companies that underwrote healthcare business for decades have withdrawn from some classes, citing high loss ratios. In their place, new sources of capacity have emerged. Historically, the presence of new entrants has signaled competition and a loosening of terms, conditions and rates. Unfortunately for insureds, that is not happening in the current marketplace. It's a challenging environment that requires retailers to approach the renewal process differently.

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Disability Insurance: Protection When Illness or Injury Strikes
Disability Insurance: Protection When Illness or Injury Strikes
Recent Cosmetic Product Law Could Increase Recall Risk
Recent Cosmetic Product Law Could Increase Recall Risk
2023 Habitational State of the Market – Casualty
2023 Habitational State of the Market – Casualty
AI in Healthcare: Big Benefits, Bigger Risks?
AI in Healthcare: Big Benefits, Bigger Risks?
Social Inflation & Growing Demand Drives Hard Market for Security Guard Services
Social Inflation & Growing Demand Drives Hard Market for Security Guard Services
2023 Habitational State of the Market – Property
2023 Habitational State of the Market – Property
Florida Senate Bill 4-D: What Does it Mean for Condo Associations?
Florida Senate Bill 4-D: What Does it Mean for Condo Associations?
Errors & Omissions REDY® Index November 2023
Errors & Omissions REDY® Index November 2023
Louisiana Assignment of Benefits Ban a Win for Insureds & Carriers
Louisiana Assignment of Benefits Ban a Win for Insureds & Carriers
Protect Your Business with Endpoint Detection & Response Security
Protect Your Business with Endpoint Detection & Response Security
Home-Share Rentals: Are Your Clients’ Covered?
Home-Share Rentals: Are Your Clients’ Covered?
Nevada Bans Defense-Within-Limits for Liability Insurance
Nevada Bans Defense-Within-Limits for Liability Insurance