Missouri Captive Insurance Association’s Post

As it does annually, the Vermont legislature recently updated the Vermont Captive Insurance Act. For a detailed review of some of those updates, please check out the link! Feel free to reach out to me or other members of the Primmer captive group with any questions. #vermontcaptives #captiveinsurance #risk #insurance

Insurers who bring together diverse disciplines are better able to identify and prepare for emerging risks, according to industry leaders at the American Property Casualty Insurance Association's annual meeting. Read more from Gavin Souter of Business Insurance: https://lnkd.in/gyhkCVfP

The wave pool industry is surging, and so are the insurance challenges! Discover how Apex Risk & Insurance Services simplifies insurance for these exciting ventures. Dive into our latest blog for expert insights from Peter Katkov. 

The wave pool industry is on the rise, with new development projects emerging rapidly. However, navigating the insurance costs associated with these ventures can be challenging. At Apex Risk & Insurance Services, we specialize in simplifying this process for wave pool projects. I’m excited to share my insights on the crucial role insurance plays in these large-scale developments. Let’s ensure your venture is protected! #ApexRisk #WavePoolIndustry #InsuranceSolutions

Even with recent improvements in the commercial insurance market, several sectors are still experiencing difficulties, which is spurring further increases and interest in the use of captive insurance to assume greater levels of risk retention. Linked below is a short piece highlighting the key take-aways from a panel of executives from three of the world's largest insurance companies who acknowledge that "captives can offer nimble solutions to some of the more complex risk management issues that clients face." The panel also stressed that it is "important to give customers a full range of options – single parent or group captive? What’s best for the client? And what’s the best long-term decision?"  https://lnkd.in/exs3ht76

Many small and medium-sized businesses faced unique challenges in securing affordable coverage in the last few years. But even though the market has improved, keeping a focus on risk management can deliver long-term savings on your commercial insurance policies.   In our latest IN Focus piece, Rob de Pruis, National Director, Consumer and Industry Relations, IBC, shares eight questions/tips to assist business owners in navigating the commercial insurance landscape. #IBCINFocus #CommercialInsurance

Protecting Your Assets: Understanding Named Perils in Insurance! 🏠🔥🌪️ In the realm of insurance, there's a key concept that shapes the scope of coverage – "Named Perils." Let's dive into what Named Perils are and why they're a vital consideration for policyholders: Clarifying Named Perils: Named Perils, also known as Specified Perils, are specific risks or events that are explicitly listed in an insurance policy as covered events. Only the perils mentioned in the policy are eligible for coverage. 🔑 Why Named Perils Matter in Insurance: 1️⃣ Transparency: Named Perils policies provide transparency by clearly listing the risks covered. Policyholders know precisely what is protected, reducing ambiguity. 2️⃣ Cost Savings: Because Named Perils policies cover a limited set of risks, they often have lower premiums compared to broader coverage policies. 3️⃣ Risk Focus: Policyholders can tailor their coverage to address specific risks that are most relevant to their situation, optimizing their insurance investment. 4️⃣ Risk Mitigation: Named Perils policies encourage policyholders to take proactive measures to mitigate the risks that are included in the coverage. 5️⃣ Customization: Named Perils coverage can be customized to suit individual or business needs, allowing flexibility in risk management. 6️⃣ Clarity: In the event of a claim, there is clarity about whether the cause of loss is covered or not, minimizing disputes. Named Perils policies are like a menu where you choose exactly what you want to protect against. They provide a clear and cost-effective way to address specific risks while allowing policyholders to focus their risk management efforts where they matter most. 🌟🏡 #Risk #RiskManagement #CommercialInsurance #PersonalInsurance #InsuranceTerms #NamedPerils #InsuranceCoverage #Transparency #CostSavings #Customization #Clarity

Within the vast landscape of insurance service providers, consumers may interact with insurance companies, agents, brokers, underwriters, wholesalers, and third-party administrators, to name a few. While all are important to the insurance industry, consumers should be aware of the differences and clearly understand the implications of working with each. Failure to do so could result in a misalignment of priorities and a risk management program that favors the insurance service provider at the expense of the consumer.  In the new article by Jason Odgers, “Know The Role of Your Insurance Provider,” he defines the role of each, so there is no confusion, as well as offering a list of essential questions buyers should ask when defining the relationship with their risk management partner. Click here for the article, and let us know your thoughts! https://lnkd.in/grc4fyuC

Businesses operating in high-risk industry sectors have complex insurance requirements and therefore, taking a proactive approach to underinsurance is vital. By doing so, you can ensure that your business has the correct levels of cover in place to protect you, in the unfortunate event that you need to make a claim. 👇 Learn more in our sister company, Specialist Risk Insurance Solutions (SRIS) latest article: https://hubs.la/Q02wn1SN0 #DifficultDoneWell #Underinsurance #CommercialProperty

Shawn B., VP of Acentria Insurance, reveals the secret to thriving in the insurance market: genuine love for the client's industry. Learn how aligning interests leads to stronger partnerships and tailored risk solutions. https://hubs.la/Q02mqjjr0 #InsuranceIndustry #ClientRelationships #PassionForWork #AcentriaInsurance