Zurich North America’s Post

Management overspends on business insurance for inadequate coverage most of the time. Applying to all business insurance products, we negotiate with insurance brokers to get the lowest business insurance cost. Our team went to insurance technical schools and uses world-leading analytics to effectively negotiate with insurance brokers.     Many executives make the mistake of buying business insurance directly from insurance brokers without having the fine print of such insurance re-worded and triggered by independent risk experts.    Learn More:   https://lnkd.in/dqmp-SQa #Riskmanagement #investing #markets #venturecapital #FinancialServices   

80% of US middle market companies have multinational exposure. Too often we find exposure here that is improperly / incorrectly managed or not managed at all. HIG experts like Kevin Nolan can help ensure risks are managed correctly.

Learning more about the Insurance Industry!

The insurance industry is constantly evolving and it's important to stay informed. That's why Business Insurance has a series of interviews with thought leaders in the industry. In this interview, Christopher Lang, Spencer Board Member and Global Placement Leader for US & Canada at Marsh, provides an analysis of Marsh's latest commercial insurance pricing report. The report tracks and analyzes pricing trends in the commercial insurance market. Chris discusses the implications of the report for buyers and offers insights into what they can expect in terms of insurance prices and possible changes in coverage or policy terms. Check out the interview to stay up-to-date with the latest developments in the insurance industry.   📺 Watch the interview here: https://lnkd.in/gZcfspKy 📺 📈 Access the report here: https://lnkd.in/d7qutfqy 📈 #Marsh #BusinessInsurance #SpencerBoardMember #ThoughtLeaders #StayInformed #InsuranceIndustry #CommercialInsurance #PricingTrends

Engaging conversation at the Chartered Business Valuators Institute (CBV Institute) Connect 2024 conference last week in Montreal. Our panel titled M&A Insurance: What's All the Buzz About, consisted of Daivik Doshi, Nadine Perry CPA, CA and Hélia Taheri from Ironbridge Equity Partners, PwC and Stikeman Elliott, respectively. The conversation covered current mid market M&A trends and valuations, including cross border considerations, and what’s ahead for deal-makers the second half of 2024. Daivik Doshi outlined a case for an improved deal making environment and potentially more activity post Labour Day. The panel explored the impact of RWI on the mid market and how it has created what Hélia Taheri called a trusted and reliable framework for getting deals done. We reminded the audience that RWI can be underwritten fully in French as well to support deals from across Canada. On claims, panelists discussed their interactions with how the product has supported valid claims. BFL CANADA stressed how claims frequency and severity is up, and expect market pricing to increase in the medium term. Finally, we went over product innovation and how RWI has supported a wide variety of transactions, including carve out deals. Nadine Perry CPA, CA impressed her knowledge on the audience where the financial statements must be carefully evaluated in such a situation to understand any potential deviations from the chosen financial standard of the transaction. Trust the CBV audience enjoyed it as much as I did.

Crafting your safety net: strategic business insurance The realm of business insurance holds the key to not just surviving, but thriving in today's competitive market. With a myriad of policies and coverages, the challenge lies in identifying the right mix that covers your unique risks without overextending. Delve into our in-depth analysis on selecting business insurance that aligns with your operational needs and long-term goals. Learn how to leverage insurance as a strategic tool for risk reduction and asset protection, ensuring your business remains resilient against unforeseen challenges. #StrategicInsurance #BusinessGrowth #AssetProtection

Elevate your business strategy with IUM's Commercial Insurance. Safeguard your assets and aspirations from unforeseen challenges. IUM's customised plans serve every secotre, providing proactive protection for your business. Ready to expand without boundaries? Let IUM be the shield that illuminates your business journey. #IUM #businessinsurance #commercialinsurance #riskmanagement #businessprotection #peaceofmindforbusiness

An interesting book that explores the dramatic rise and collapse of American International Group (AIG), once the world's largest insurance company (it was many insurance companies across the globe and Mr. Greenberg took the lead to consolidate those businesses under new name “AIG” in 1967). The book focuses on the history of AIG and later on how the risky bets of a single division, Financial Products ("FP"), brought the entire company crashing down. The book highlights the story of one of AIG's founding CEO, Hank Greenberg, who managed the company for 40 years before board conflicts led to his ousting. Following his departure in 2005, AIG embarked on a path of excessive risk-taking, culminating in its government takeover during the 2008 financial crisis. Hank Greenberg, was obsessed with core insurance principles (he started as underwriter in his early career) , and held his business leaders responsible for generating profits through underwriting, not investment returns only (he devised performance KPI on technical profit target). He believed neglecting this core principle,would lead to unstable results and expose the company to excessive risk from a single source of income. Overall, a good read.

Every risk within an insurance company's portfolio has its own unique features and characteristics. Therefore, it is essential for the insurance company to ensure that the decisions they make regarding each risk meet the needs of the portfolio. A wrong decision could result in negative reactions from the risks within the portfolio. Just like a mother deals with each of her five children differently based on their unique features, an insurance company must take the time to understand the characteristics of the risks within their portfolio before making reinsurance or other decisions. In this video, a player felt that the referee had given him an undeserved red card, which sparked negative reactions and fights, to the extent that the referee even had to engage in blows with the players. Similarly, some risks should not be placed into your reinsurance treaty but must be managed facultatively based on their unique features. For any insurance company to be successful, it must first understand the risk profile of its portfolio before making decisions that could adversely impact the books of businesses underwritten. #Decisionmaking #insurance #reinsurance #innovation #management #business