Understanding transportation risks in an automated environment The rising popularity and growth of shared mobility programs has forced insurers to adapt and create new coverage solutions and risk evaluation methods to serve the evolving needs of both individual and business customers. Now, a market still grappling with these fundamental changes in risk exposures and consumer behavior is facing yet another disruptive force—the development and introduction of increasingly sophisticated autonomous vehicle
Commercial Lines
ISO Emerging Issues Perspective Can automated processes facilitate quick and effective resolutions? Today’s cars are smarter, and that means auto insurers need to be smarter, too. Modern vehicles collect vast amounts of valuable data, and original equipment manufacturers (OEMs) are preparing to share it with the vehicle owner’s consent—if insurers are ready to receive it and realize its potential for more accurate underwriting, more efficient operations, and a better customer
Risk Management A general liability policy alone probably won’t clean up the mess In a town just outside Grand Rapids, Michigan, an environmental disaster—one that goes back to the 1960s—is unfolding. Wolverine Worldwide, well known for brands like Hush Puppies and Stride Rite, has been accused of turning a blind eye to an old toxic dump that has polluted the groundwater, resulting in sick people and diminishing property values. The
Risk Managers’ Forum Agents can play a key role in protecting their clients’ trusts Estate planning trusts are creating new risk finance challenges for both personal and commercial lines clients. Simply put, a trust—a tool used in estate planning—creates a fiduciary relationship concerning specific property. Trusts typically are formed when someone (the trustor or settlor) transfers legal title to property to another (the trustee), with direction for the latter to
Risk Management Help your clients establish safe practices for their drivers According to the Centers for Disease Control and Prevention, every day in this country an average of nine people are killed and more than 1,000 are injured in crashes that are reported to involve a distracted driver. When advising our clients, we need to make sure our own house is in order. We should have a distracted driving policy
