Articles

Construction Insurance Underwriters Get Picky & Other Trends

Construction insurance specialists say their insurance market is strong with plenty of capacity and underwriters competing for the best accounts. According to specialists interviewed by Insurance Journal for their assessment of the market, the boom in the construction business has allowed underwriters to refine their appetites and be more selective and focus on profitable accounts. At the same tim...

Fitch: Expect Commercial Auto Insurance Underwriting Losses to Continue in 2019

U.S. property/casualty insurers continue to face substantial underwriting losses on commercial automobile insurance and, following a statutory combined ratio of 108% in 2018, the segment is poised for a ninth consecutive year of underwriting losses in 2019, according to Fitch Ratings. Fitch said it anticipates only moderate results improvement this year. Despite repeated underwriting and pricing a...

Why the High Net Worth Client Needs More than Just an Agent

What exactly is a high net worth client, also known as a "private client?" According to Investopedia.com, a high net worth individual is an individual or family with liquid assets above a certain figure. Many sources set that figure at $1 million. Those people need insurance like the rest of us do, but not exactly like the rest of us do. They need a homeowners policy, but they aren't going to Lemo...

Evolving Cannabis Operations Requesting Higher Limits, Policy Customizations

Erich Bublitz has seen a significant transformation in his clients' needs in just a year. Increasingly cannabis businesses are coming to him seeking higher limits, and more policy customizations, as their operations develop and become sophisticated and new needs evolve. Bublitz is vice president in cannabis underwriting and chief regulatory compliance officer at Admiral Insurance Group. Admiral In...