Category

Market Insights

Risk Mitigation Covid-19
Market Insights, Risk Insight

Risk Mitigation Takes Center Stage in the Wake of COVID-19

The coronavirus has disrupted businesses across every industry sector, forcing operations to scale back, furlough staff, and/or temporarily close – resulting in a significant economic hit, to say the least. Among the many issues to become clear during this crisis is the increased role risk assessment and risk mitigation will play in business recovery and sustainability moving forward. Insurance agents will hold an even a greater role in helping businesses in the risk-assessment process.

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Liability Immunity from COVID-19
Market Insights, Risk Insight

Businesses Call for Liability Immunity from COVID-19 Litigation

As restrictions are lifted and businesses begin to slowly reopen amid the coronavirus pandemic, they are working to keep their employees and customers safe – following CDC and FDA guidelines that include implementing social distancing requirements, providing workers with personal protective equipment (face masks, gloves, etc., depending on the industry), upgrading cleaning and sanitizing practices, and making workspace floor plan changes, among many other recommendations. But for many businesses, including restaurants, retailers and others, there is fear that if a customer or employee is infected by the virus he or she will turn to the courts alleging the business is responsible for their illness. As a result, businesses are turning to the government for liability protection. 

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Cyber Attacks as Businesses Go Remote
Real Estate, Hospitality & Restaurants, Community Associations, Market Insights, Risk Insight, Cyber Liability

Digital Thieves Ramp Up Cyber Attacks as Businesses Go Remote

Hacking activity is up, with cybercriminals taking advantage of remote work vulnerabilities amid the COVID-19 crisis. There are approximately 85 million Americans working from home. In fact, researchers cite that activity against corporations in the United States more than doubled by some measures in March, with malware infections, phishing tactics and ransomware running rampant. That’s because it’s harder to protect data when managed on home computers that use widely varying setups and on company machines connecting remotely.

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Market Insights, Distinguished Life

Distinguished: Always, Here for You

The coronavirus pandemic has ushered in a new era of social distancing, self-quarantining and remote work. At Distinguished, remote work has been part of our culture’s DNA with many of our staff already working from home. We are well-positioned as always to serve our agency and broker needs. Our employees are all safe and equipped with the information and resources to answer questions and underwrite new and renewal business.

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Top Books for Insurance Professionals
Market Insights

Distinguished Reads: Top Books for Insurance Professionals While Social Distancing

The coronavirus pandemic has many of us working from home, practicing social distancing and self-quarantining. During this challenging time, we thought it would be a good time to put together top books for insurance professionals to brush up on topics that include everything from leadership to negotiation, sales and marketing and social media. Included in each recommendation is a brief synopsis of the book. 

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blogging
Market Insights

Blogging: Firming Market Calls for Thought Leadership

The insurance market continues to firm as Property & Casualty rates increase across all industry sectors and classifications, due (in part) to mounting losses. Insurers, in addition to making price increases, are also capping limits, adjusting sublimits, reducing capacity and, in some cases, retracting from catastrophe-prone areas. To help manage client expectations, agents and brokers should be communicating with insureds well before their renewals, including face to face, over the phone and in communication literature. For example, consider implementing a content-marketing strategy that leverages blogging to highlight your thought leadership, expertise and the need for specialization during a challenging and changing insurance market.

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Retain Millennials insurance
Market Insights

How to Attract, Retain Millennials in the Insurance Industry

Millennials, also known as Gen Y, were born between 1982 and 1995 (or up to the year 2000 depending on the source). Millennials now represent 50% of the workforce, and by 2025, it’s estimated they’ll make up 75% of the workforce. The challenge for the insurance industry is attracting and retaining Millennials to fill positions left opened by retired Baby Boomers and accept new opportunities as the industry transforms to meet today’s consumer expectations. There simply aren’t enough Generation Xers (individuals between 40 and 54 years old) in the workforce to meet insurance staffing demands.  

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Coronavirus
Market Insights, Risk Insight

Impact of Coronavirus on Business: Cancelled Events, Online Meetings, Remote Work

The state of the coronavirus (COVID-19) epidemic is fluid as the number of infected individual cases worldwide reaches more than 118,000 and the death toll surpasses 4,000, according to the most recent information from the World Health Organization (WHO)*. As the contagion continues its rapid spread around the world, the impact is being felt on numerous fronts including in the travel and hospital industry as events, meetings and conferences are cancelled as well as on businesses in general, which are increasingly limiting and restricting employee travel and turning to remote work in an effort to keep workers safe.

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specilaty insurance
Market Insights

Brokers, Agents Benefit from Program Managers’ Specialty Insurance

The last several years have seen the insurance market firming due to catastrophic property losses and liability loss trends that have resulted in commercial lines rate increases and stronger underwriting discipline. Projections for 2020 include further increases for several lines of business including Umbrella, Directors & Officers Liability, and Commercial Property insurance.

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Construction insurance
Historic Properties, Real Estate, Market Insights, Risk Insight

Construction Insurance in Today’s Growing Market

If you build it, they will come—but don’t forget about adequate liability coverage for new construction! As the construction sector keeps pace with the general real estate market, Distinguished’s senior vice president and program executive, Michael Thabet, weighs in on currents facets of the construction industry and what that means for today’s carriers and insureds. Thabet discusses the importance of having the right type of coverage for different building projects and how newly emerging claims are changing the landscape of this sector. Dive right in and share this Rough Notes article.

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On-Demand Insurance For Drones
Market Insights

Drones and the Insurance Industry: Changing the Way We Do Business

Drones are changing the face of the insurance industry one small airborne device at a time. Now multiply that by a few million. Ever since the FAA eased regulations on the commercial use of drones in 2016, there has been a huge uptick in drone usage, especially by insurers. There could be as many as 7 million drones flying in the US skies by 2020, with 2.5 million of those being commercially operated.

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