Industry Roundup: Insurance Industry Calls for NFIP Extension, Risk Rating 2.0 Delay; Cost of Insuring Expensive Waterfront Homes is About to Skyrocket; Reinsurers Could Be Underestimating Nat Cat Exposure by 33-50%

​Appetite for Flood Risk Among Private Insurers Still SmallThe U.S flood insurance market is slowly transitioning toward private insurers playing a much needed and more prominent role by providing additional competitive market options for those seeking coverage, according to a new AM Best report.Reinsurers Could Be Underestimating Nat Cat Exposure by 33-50%Analysts at S&P Global Ratings believe that reinsurers could be underestimating their exposure to natural catastrophe risks by between 33% and 50%, despite recent efforts to better incorporate climate change considerations into their business models.Staying Innovative and Agile Post-PandemicLeveraging the right technology such as video conferencing and enhancing risk management platforms, has helped both…

Continue ReadingIndustry Roundup: Insurance Industry Calls for NFIP Extension, Risk Rating 2.0 Delay; Cost of Insuring Expensive Waterfront Homes is About to Skyrocket; Reinsurers Could Be Underestimating Nat Cat Exposure by 33-50%

That’s How Sue Sees It: Banned Books Week

By Sue Keegan, AIC, MBA, Learning & Development Manager​​Banned Books Week kicked off this past Sunday and runs through Saturday, 10/02/2021.  I look at this week as a sort of way to celebrate the freedom to read.  So I did a little research to try to find out the first banned book in the United States and it appears that title goes to New English Canaan written by Thomas Morton.  Here’s a link if you would like to learn a bit more.  To celebrate Banned Books Week, I chose three banned books to read in the month of September.  My choices are Speak, by Laurie Halse Anderson, Extremely…

Continue ReadingThat’s How Sue Sees It: Banned Books Week

On Our Mind: Leaders in the Making

By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & Development​​I am sitting here writing this with a big ol' smile on my face… why? We just finished our second class of the Big I NY Leadership Academy. We have eight participants and I couldn't ask for a better first cohort!!They have been engaged, entertaining, energetic and vulnerable-willing to learn from each other and share some of their day-to-day challenges.  The people in the class range from a 24-year-old who is just starting her insurance career, to a 45-year-old, mid-level manager to a (little older) owner of a small agency. However, what we have all come to…

Continue ReadingOn Our Mind: Leaders in the Making