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Soften the Impact of Percentage Deductibles

Soften the Impact of Percentage Deductibles

A GREATER SHARE OF THE RISK: When a catastrophe such as a hurricane or earthquakes strikes a wide area, the insured losses can easily add up to the billions of dollars. As property values have risen over the years, so have insurers’ catastrophe losses. To limit their own risks, carriers are more often requiring property owners to retain a greater share of the exposure through percentage deductibles based on the overall value of the property at risk, rather than flat deductibles set at a specific monetary value. While percentage deductibles can leave insureds facing much higher losses, there are strategies brokers can use to help lessen the impact.

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Understanding the True Cost & Pitfalls of Additional Insured Endorsements for Behavioral Healthcare Organizations

Understanding the True Cost & Pitfalls of Additional Insured Endorsements for Behavioral Healthcare Organizations

Everyone knows the fine print matters, but it is especially important when it comes to the additional insured endorsements sometimes requested by partners. Clauses requiring such endorsements can be expensive in ways insureds may not realize. Understanding the hidden costs of an additional insured endorsement can keep an insured from unfairly paying for another’s mistakes or unintentionally elevating insurance costs. Contractual provisions requiring additional insured endorsements can vary, and the differences can make a world of difference.

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Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

The term catastrophe became a part of everyday life this year as the global coronavirus pandemic spread across the country. With spring also came the "normal" catastrophes, including a spate of deadly thunderstorms and tornados. This was followed by an early start to a hurricane season that kept setting records through the summer, and a disastrous wildfire season for which the full scope of damages will not be known for some time.

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When to Notify Excess Insurers of Claims

When to Notify Excess Insurers of Claims

Chronic lateness may be a societal problem, as many etiquette columnists note*, but when it comes to insurance claims, lateness in notifying one’s insurers invites more than dirty looks – it can bring denial of coverage.

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Insurers Take a Harder Line on Reported Property Values

Insurers Take a Harder Line on Reported Property Values

Because property premiums are based on the value of the property, many insureds have sought to save money over the years by reporting lower values. While that tactic can bring cost savings in the short term, it works against the longer- term best interests of both the insured and the industry. Should a catastrophe strike, a business that’s underinsured may not have sufficient funds to rebuild or make it through an extended shutdown.

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Cyber REDY® Index June 2021
Cyber REDY® Index June 2021
Private D&O REDY® Index April 2021
Private D&O REDY® Index April 2021
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