The insurance industry has long been concerned with the impact of catastrophes (CAT) on their financial stability. The reinsurance market exists to smooth our results when a catastrophe strikes to maintain carrier solvency and market stability. Twenty-five years ago, the CAT concerns were hurricane and earthquakes. These exposures were geographically centered and were managed by monitoring the values accumulated in given areas. Managing and reporting your exposure accurately

As summer rolls on the heat index numbers will creep into the danger zone for heat stress emergencies. Heat stress is an equal opportunity hazard that affects anyone who is exposed to excess heat and is being physically active in that environment. Heat stress is an occupational hazard, but the exposure extends to any group exposed to high heat conditions. This includes family picnics, youth events and outdoor festivals and celebrations. Some groups are more susceptible to e

The hard sell on home warranties is on TV and in your mailbox. Some of the direct mail items look like bills or seem to be from a utility company. All share the scary stories about how owning a home is now a nightmare because of repairs. The answer is buying a home warranty product. This a truly a time to read before you buy. Do not rely on the advertising, look at the actual product to see what is being offered. Limits Can Be Low These products have specific limits for eac

For most insurance companies, the frequency of water damage claims is the leading claim type. The costs of these events can be staggering. The level of disruption caused by the damage is often an additional source of claim dollars and lost time and revenue. The Exposure The exposure to a water damage claim is present in any building. From bathroom fixtures, kitchen appliances, laundry equipment, heating and cooling systems and host bibs in your home, any failure of these can

Smoke Damage after a Fire – A potential total Loss? The insurance business is based on the law of large numbers and the use of historic data to guide its decision making. The past history of fire losses have treated smoke damage as a secondary issue. It meant smoke damage after a fire was a cleanup issue and if needed seal with a coating to make it go away. The primary issues were appearance and odor. This approach was based on a hundred years of experience with fires that w

The eBike has changed the nature of the bicycle forever. It is now practical to commute for longer distances, over more challenging terrain and at higher speeds. eBikes are generally described within three different classes. Class 1 Electric Bicycle — A bicycle equipped with fully operable pedals and an electric motor of less than 750 watts that provides assistance only when the rider is pedaling and ceases to provide assistance when the bicycle reaches the speed of 20 miles