Mark Bagdoian’s Post

Better underwriting results in the U.S. directors & officers (D&O) liability line “will likely add downward pressure on rates amid decreased demand in the segment”, according to a new AM Best Special Report. Strategic underwriting practices on current D&O liability risks suggest the loss ratio may continue to decline over the near term, the report added. https://lnkd.in/gzMu6C48

Evolve with Kennedys is back for 2024! Are you a claims handler, broker, underwriter, or an aspiring professional in the insurance industry with 0-5 years of experience? Join us for our ‘Evolve with Kennedys’ programme, which is designed to elevate your expertise and knowledge to the next level. Here's what we have in store: 🔍 Investigations into coverage: Gain insights into the intricacies of coverage investigations, equipping you with the tools to navigate complex scenarios confidently. 🕵️♂️ Investigations into liability: Dive deep into liability investigations, understanding the nuances to effectively assess and mitigate risks. 🏙️ Mock mediation sessions in London and Manchester. Experience simulated mediation scenarios guided by industry experts from Kennedys, Deans Court Chambers in Manchester, and 7BKW in London. Don't miss out on this exclusive opportunity to evolve and excel in your insurance career. Register your interest and find out more on our hub page: https://lnkd.in/e9PPiw_Z #evolvewithkennedys #insurance #coverage #liability

In a recent article from Insurance Business Review, Euclid Transactional's Chief Underwriting Officer Shawn O'Neill highlighted the value and importance of partnering with an experienced team of underwriters who can successfully mitigate unforeseen issues and navigate risk in M&A transactions. Euclid Transactional continues to be the industry leader in this area, having bound over 6,800 policies and facilitated over $825 million in claim payments. Read the full article here: https://lnkd.in/eqf3jw9k #InsuranceBusinessReview #FinancialServicesReview #Insurance #ReInsurance #Underwriting #Claims 

How does a real estate firm reduce third-party liability exposure? We posed this question to one of our most successful customers - Northwood Office. Here are three tactics that worked: ➡️ Access to accurate and fast COI verification 💡 Consistent 24-hour turnaround times on COI reviews enabled NorthWood Office to efficiently manage properties while protecting from risk exposure with vendors and tenants. ➡️ Clear and actionable insurance insights 💡 Flagging compliance gaps was simply not enough to demystify insurance risk. Actionable solutions including detailed descriptions of gaps in compliance along with suggested steps to improve insurance risk transfer. ➡️ Control over risk decisioning 💡 According to Jill, an ability to override insurance coverage gaps/issues with a click of a button allowed her to execute faster and exercise control over her risk transfer decisions.

Get under the hood of title insurance and understand the main players and what their roles are: "Agent" (me) - the company you deal with on the day-to-day - Processes your title and search orders - Compiles your title report and policy - Handles all aspects of closing, funding and recording (lots and lots of other things too 😉 ) "Underwriter" - Large, national/regional companies that support the Agent in many ways, such as with risk management, legal guidance, underwriting (obviously) - Handles insurance claims - Examples: The Security Title Guarantee Corporation of Baltimore, First American Title, Fidelity National Title, CATIC, Old Republic Title and many others. The following terms should be helpful: "Title Company" can refer to both the underwriter or agent "Insurance company" usually refers to the underwriter (enjoy the video😊) #titlecompany #titleinsurance

What is Blocking Markets? There is a concept in the insurance world that works very different from other services or vendors you may hire. In most cases it makes a lot of sense to get bids from several vendors... compare those numbers and then award the business based on quality and price. In the property and casualty insurance world a carrier will only offer one quote. So here is the concept of blocking markets. Some agents in an effort to not loose business upon renewal will send submissions to many carriers never having any intention to bind coverage with them but solely to prevent competition from getting quotes. By sending that submission they have BLOCKED that market or carrier. This is not what should be done but is unfortunately a very common practice. You need to have a broker that you know is working for your best interest. Allow them to fully market your coverage and then present to you the best coverage and pricing options. They should be having a discussion with you about risk tolerance, participating in loss control activities, working with your team on claims management and so many other things. Expect more from your broker. If all they are doing is spraying submissions across the industry and then presenting the low cost option you need to find better representation! #insurance #commercialinsurance #businessinsurance #risk #risktolerance #insuranceconsultant #betterservice #earnyourcomission

📑 When Should You Hire a Loss Assessor? Navigating insurance claims can feel overwhelming. Engaging a Loss Assessor can make all the difference, ensuring you maximise your claim and reduce the stress of the process. Here’s when to consider hiring one: ✅ Complex Claims: Substantial losses that require expert handling. ✅ Disputed Settlements: When the insurer’s offer doesn’t feel sufficient. ✅ Large-Scale Claims: For businesses or high-value assets. 🔍 Why Act Early? Hiring a loss assessor at the start of the claims process increases your chances of success, ensures you get the fairest outcome, and relieves the burden of navigating the complexities alone. 👉 Discover how Harris Balcombe can help: https://lnkd.in/ecCcNghg Make the right choice for your insurance claim today! #LossAssessor #InsuranceClaims #MaximiseYourClaim #HarrisBalcombe

How does a real estate firm reduce third-party liability exposure? We posed this question to one of our most successful customers - Northwood Office. Here are three tactics that worked: ➡️ Access to accurate and fast COI verification 💡 Consistent 24-hour turnaround times on COI reviews enabled NorthWood Office to efficiently manage properties while protecting from risk exposure with vendors and tenants. ➡️ Clear and actionable insurance insights 💡 Flagging compliance gaps was simply not enough to demystify insurance risk. Actionable solutions including detailed descriptions of gaps in compliance along with suggested steps to improve insurance risk transfer. ➡️ Control over risk decisioning 💡 According to Jill, an ability to override insurance coverage gaps/issues with a click of a button allowed her to execute faster and exercise control over her risk transfer decisions.

As a business owner, I know firsthand how crucial it is to protect what you've built. Oakwood Risk Insurance Solutions's latest post on Business Owners Policies (BOPs) highlights key coverage that every small business should consider. It's worth a read for anyone serious about safeguarding their operations. You can find more details on our Oakwood Risk Insurance Solutions page. Get a quote for your business today --> quoteme@oakwoodrisk.com

Are you covered? Professional liability coverage in our industry comes in the form of errors and omissions (E&O) coverage. This essential protection ensures that you’re safeguarded against potential claims arising from mistakes or oversights in your work. Don’t leave yourself exposed—make sure your E&O coverage is up-to-date and comprehensive. Protect your reputation and your business. Do you understand your coverage? #ProfessionalLiability #EandO #Writeloss #Insurance #StayProtected - We Write - You Adjust, Build, & Litigate - 800-272-1601 - #HurricaneClaims #ClaimWrite #largeloss #RemoteEstimates #Writeloss #Xactimate #Appraisal #claimslife #estimates #umpire #3D #Matterport #buildingconsultants #expertwitness #supplements #inspections #Protools #level3Xactimate #legalsupport #INSURANCECLAIMS WriteLoss™ - Claim Write Inc. 800-272-1601