Abi Potter Clough, CPCU, MBA’s Post

Some excellent risk insights from Northbridge Insurance for developers to consider for preventing wind damage in suburban developments. #lossprevention #losscontrol #insurancebroker #insuranceclaims #winddamage https://lnkd.in/gZFKbrBq

Insured CAT losses are down compared to Q1 2023 but interesting to note the period taken for a CAT to develop to the full exposure. Notwithstanding, locally some large CAT events in the books already for 2024. #westerncapestorms #kznstorms #Catastrophe #insurance #underwriting #reinsurance #lossadjusters #insuranceagent #brokers

🏠🔐 Kin Insurance has successfully completed its #reinsurance program, providing $770 million in coverage for extreme weather events like #hurricanes. This robust program, backed by 40 industry-leading reinsurers, ensures top-tier protection for #homeowners facing increasing climate-related risks. By 2040, property losses due to #naturaldisasters could rise by over 60%. Read more on how Kin is an essential leader in disaster resilience and home #insurance ➡️ 

The latest report from Gallagher Re sheds light on the first-quarter 2024 natural catastrophe losses, revealing significant insights for the insurance and reinsurance industry. The insurance industry still faces challenges with insured losses amounting to over $20 billion. While this marks a notable decrease from the previous year, it still surpasses the 10-year average. 🌩️ Severe convective storms emerged as the leading cause of loss, particularly affecting the U.S. with $11 billion in insured losses. ☔ Hail, identified as the primary subperil, drove the majority of insured losses across the central and eastern U.S. This reaffirms the significance of understanding regional risk factors and preparedness measures here in Texas. #Insurance #Reinsurance #RiskManagement #NaturalCatastrophes #GallagherRe https://lnkd.in/giHFWk3c

In financial planning for #highnetworth families, insurance reviews can often be overlooked – but they’re essential to safeguarding what we value most. This Mansion Global article highlights an issue we see regularly: coverage gaps, especially with risks like flooding, can catch many by surprise.    Here are a few things we believe are worth considering:  -Coverage Needs Change Over Time: Life evolves, and so do our assets. An insurance #review every so often ensures that what’s most important stays protected, even as new properties or valuables are added.  -Look Beyond Standard Policies: While basic policies cover the essentials, unique assets – such as art collections or vacation homes – often require specialized protection.  -Stay Proactive, Not Reactive: Addressing risks before they become issues gives peace of mind and can prevent costly surprises down the road.    The Symphony Wealth team is ready to talk about ways an insurance review can help strengthen overall financial plans. If you’re curious about how this fits into your risk management strategy, feel free to reach out. #certifiedfinancialplanners #riskmanagement #insurance https://lnkd.in/eQWqahZB    

Trim Those Trees 🌳 Did you know overgrown or weak branches can easily break off during a storm, causing damage to buildings, vehicles, and even power lines? Regular tree trimming helps prevent these potential hazards and keeps your surroundings safe. We’re here to understand your needs and protect you from risk. Stay prepared and contact us today to learn more! 👇 https://continuum.net.au/ #ContinuumInsurance #insurance #insuranceagent #insurancebroker #insuranceagency #businessinsurance #business #risk #Brisbane #Queensland #Australia

Marsh McLennan commercial property insurance trends report highlights three key factors affecting rates: inflation, underinsured properties and non-modeled secondary perils. Marsh underscores the need for market cycle awareness, advocating for more accurate underwriting submissions and fostering stronger client-underwriter relationships. The report also highlights how accurate risk assessment is paramount in informing decisions regarding coverage modifications and loss prevention strategies. https://bit.ly/43lNTCE #Commercialinsurance #insurance #CommercialProperty

Depending on the magnitude of damage, Florida could see the collapse of insurers similar to what occurred during the depths of a historic market crisis in 2022, according to AM Best. Large national insurance companies with diverse footprints and businesses are better able to absorb losses from Helene and Milton. But for regional insurers concentrated in Florida, losses may deplete their surplus — the excess funds kept on hand to pay policyholders after costlier-than-expected weather events. Story from Christina Georgacopoulos, Tampa Bay Business Journal #insurance #flood #propertyinsurance #florida

The future of #P&CInsurance is complex and uncertain. Good thing we’ve done the research for you and made this free e-book! Check out our latest blog for a sneak peek of our in-depth analysis, and download the full e-book to learn more about: - The current state of the P&C market - The potential of parametric insurance - The role of advanced technology in risk management - Lessons the broader industry can take from flood insurance - Predictions about the future of P&C insurance https://hubs.li/Q02s5kMQ0 #Insurtech #Insurance #FutureofInsurance

In 2024 we talked with communities, professionals and Government stakeholders across SA and nationally about the affordability of home insurance, particularly for natural peril-related risk. Great to see that the topic is now back on the table with a new affordability taskforce! https://lnkd.in/gzRmiHkB