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Archive for the ‘Commercial Insurance’ Category

COVID having dramatic effects on the course of social inflation

Friday, February 12th, 2021

The experts agree: Social inflation hasn’t gone away during the pandemic. And in fact, things may be getting worse. Ratings agency A.M. Best Co. just said it is maintaining its “negative” outlook for the U.S. commercial lines segment for 2021, and one of the reasons is social inflation. The consensus seems more negative You’ve read […]

You need a reliable answer to this question: ‘Do I need flood insurance?’

Thursday, November 19th, 2020

Not everyone needs flood insurance. But those who need it, really need it. And not all those who need it have it. Only about 30 percent of homes in the highest-risk areas have flood insurance. Worse, less than a quarter of the buildings flooded by Hurricanes Harvey, Sandy, and Irma were insured for flooding, according to […]

COVID-19 having dramatic effects on the course of social inflation

Wednesday, August 12th, 2020

COVID-19 has had a dramatic impact on almost everything else about our lives. What effect will it have on social inflation? We’ve written about social inflation before. It refers to the ballooning cost to business and society of lawsuits. Changes in society’s attitude toward business and toward what plaintiffs are entitled to have driven jury […]

Hurricanes are coming. Here’s how to be ready.

Saturday, August 1st, 2020

Hurricane season just started in June, and records have already been broken. For part of June, dust off the Sahara Desert suppressed storm activity in the Atlantic. But experts are still telling us to be ready for the rest of a season that gave us an unprecedented three named storms by the first week. So […]

Preparing your business for the next hurricane

Monday, July 6th, 2020

Having a hurricane bearing down on you and yours is a tense situation for anyone under any circumstances. But if you run a business your concerns can be even greater, as responsible as you are to employees, customers and often shareholders. This has been quite a year, and you may already have been dealing with […]

Hurricane season 2020 gets off to a record start

Monday, June 8th, 2020

Just when you thought 2020 had given you enough to deal with in one year, along came hurricane season. In fact, it didn’t wait around for the official start on June 1. Before that date, we’d already had two named storms in the Atlantic. Early storms aren’t in themselves an indication of a bad hurricane […]

What will ‘business interruption’ insurance cover amid a pandemic?

Tuesday, May 12th, 2020

COVID-19 has changed the world in ways that we are just beginning to understand, from our daily lives to the long-term prospects of the world’s economy. The insurance industry is no exception. One of the biggest issues being argued right now in courtrooms and governmental bodies across the United States is whether holders of business […]

Understanding Business Interruption Coverage

Saturday, April 25th, 2020

All insurance is complicated, and it’s always wise to have expert help in navigating it. This is particularly true in the case of business interruption insurance. Whether you’re looking to: • Obtain coverage, • Renew existing coverage, or • File a claim under existing coverage, Your first step should be to approach one of the […]

South Risk Management named to FCCI’s Chairman’s Club

Monday, November 18th, 2019

FCCI Insurance Group has named South Risk Management to its Chairman’s Club, marking it as one of the insurer’s top agency partners. FCCI works through independent agents such as those at South Risk to provide commercial property and casualty insurance, as well as commercial and contract surety, to clients in 18 states and Washington, D.C. […]

Brenda Dominy joins South Risk Management’s service team

Tuesday, March 12th, 2019

Brenda Dominy has joined South Risk Management as an account manager in the Property and Casualty division’s service team. Formerly with Willis Towers Watson, she specialized in serving large, complex construction entities. She managed the owner-controlled insurance program for the construction of the Mercedes Benz automobile plant. “We are extremely excited to have Brenda on […]