Dig a Little Deeper BAD SHOT: INSURER SAYS “NO ACCIDENT” Intentional acts can have unintentional consequences The Court Decisions column is one of the most popular features of Rough Notes magazine. One reason is that the courtroom is where the promises made in an insurance contract often become real. All insurance professionals can develop “what if” scenarios, but until those scenarios are tested with an actual loss and a court
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WHERE THERE’S SMOKE, THERE’S FIRE Carrier offers wildfire defense service Over the past few years, national attention has been directed toward the destructive effects of wildfires. Wildfires are a growing crisis and continue to cause significant damage. The latest statistics from the National Interagency Fire Center illustrate the scope of the problem; in 2017, for example, more than 56,000 wildfires burned over 9 million acres of land. These fires also
Dig a Little Deeper IN VINO NO VERITAS When unique valuation conditions are provided, review the entire con The Court Decisions column is one of the most popular features of Rough Notes magazine. One reason may be that it is often in the courtroom where the paper promises made in an insurance contract become real. All insurance professionals can develop “what if” scenarios, but until those scenarios are tested with
PERSONAL LINES FOCUS Focus on High-Net-Worth Insurance Many individuals don’t recognize their need for specialized coverage They own an average nine homes overseas, according to an AIG study. They pay upwards of $250,000 annually for personal insurance. And according to Statista research, there were 4.78 million of them in 2015. These are today’s high-net-worth and ultra-high-net-worth individuals. These are also the individuals who make up a burgeoning insurance market in
YOUNG PRIVATE FLOOD MARKET CONTINUES TO GROW Entrants offer new coverages that replace or complement traditional NFIP offerings It’s been reauthorized six times since 2017. As of July 31, 2018, it was in danger of lapsing—a situation that’s happened before. In January 2017, it borrowed another $1.6 billion from the Treasury Department, bringing its total debt last year to $24.6 billion. By all accounts, the National Flood Insurance Program (NFIP)
