Market Insights

While Florida insurers have long used catastrophe models to assess portfolio-level catastrophe risk, leading carriers assess catastrophe risk before the policy is underwritten. Incorporating catastrophe modeling into the underwriting process is easier than most assume.

In the months leading up to Floridas 2011 session, residential property insurance and motor vehicle insurance appeared poised to become significant legislative issues. Indeed, they garnered significant discussion. Their fates, however, were widely divergent.

When price is removed as a factor, ease of doing business becomes imperative for insurance carriers looking to attract business through independent agents.

Situations similar to what happened in Japan in March conceivably could take place in the United States as well. Models show areas of high exposure for nuclear power plants and toxic storage sites.

Connecting with potential resources and sharing experiences from across the country can be the difference, which is what makes Americas Claims Event essential for industry professionals who want to get ahead.

An IA must recognize that all of his activities may be fully discoverable by many different parties if the matter ultimately ends up in litigation.