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Market Insights
Distinguished Reads: Top Books for Insurance Professionals While Social Distancing
The coronavirus pandemic has many of us working from home, practicing social distancing and self-quarantining. During this challenging time, we thought it would be a good time to put together top books for insurance professionals to brush up on topics that include everything from leadership to negotiation, sales and marketing and social media. Included in…
Up-and-Coming Employee Benefits
Having awesome employee benefits has always helped ease the 9 to 5. But as the standard 9 to 5 work routine changes with the times, so do the benefits. Up-and-coming benefits that attract quality employees—and help retain them—are all about making the work-life balance more flexible and forward-thinking. Flexible Scheduling The majority of office jobs…
Blogging: Firming Market Calls for Thought Leadership
The insurance market continues to firm as Property & Casualty rates increase across all industry sectors and classifications, due (in part) to mounting losses. Insurers, in addition to making price increases, are also capping limits, adjusting sublimits, reducing capacity and, in some cases, retracting from catastrophe-prone areas. To help manage client expectations, agents and brokers…
How to Attract, Retain Millennials in the Insurance Industry
Millennials, also known as Gen Y, were born between 1982 and 1995 (or up to the year 2000 depending on the source). Millennials now represent 50% of the workforce, and by 2025, it’s estimated they’ll make up 75% of the workforce. The challenge for the insurance industry is attracting and retaining Millennials to fill positions…
Impact of Coronavirus on Business: Cancelled Events, Online Meetings, Remote Work
The state of the coronavirus (COVID-19) epidemic is fluid as the number of infected individual cases worldwide reaches more than 118,000 and the death toll surpasses 4,000, according to the most recent information from the World Health Organization (WHO)*. As the contagion continues its rapid spread around the world, the impact is being felt on…
Insurance Program Managers, Brokers, Agents Benefit from Managers’ Specialty Insurance
The last several years have seen the insurance market firming due to catastrophic property losses and liability loss trends that have resulted in commercial lines rate increases and stronger underwriting discipline. Projections for 2020 include further increases for several lines of business including Umbrella, Directors & Officers Liability, and Commercial Property insurance.
Hard Market Trends for Directors and Officers Coverage
When major conglomerate Pacific Gas and Electric filed bankruptcy (after fielding claims of negligence after the California wildfires this past fall), D&O coverage was caught in the spotlight. Claims against directors and officers are on the rise nationwide, and analysts are questioning how far the market for D&O coverage will harden.
Construction Insurance in Today’s Growing Market
If you build it, they will come—but don’t forget about adequate liability coverage for new construction! As the construction sector keeps pace with the general real estate market, Distinguished’s senior vice president and program executive, Michael Thabet, weighs in on currents facets of the construction industry and what that means for today’s carriers and insureds….
Drones and the Insurance Industry: Changing the Way We Do Business
Drones are changing the face of the insurance industry one small airborne device at a time. Now multiply that by a few million. Ever since the FAA eased regulations on the commercial use of drones in 2016, there has been a huge uptick in drone usage, especially by insurers. There could be as many as…
Would the New ADA Bill Protect Your Business?
Are you 100% ADA-compliant? Would your hotel or restaurant rather get a lawsuit or a letter? A new bill, aimed to curb legal action against property owners, will be voted on this week in the House.