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Statewide, flood insurance covers just 7% of residential properties. Coverage rates in major inland metropolitan areas, including Dallas, Denton, and Bexar counties, remain below 1%, despite repeated flooding events. Even in FEMA-designated high-risk zones, only 28% of residential buildings have flood insurance.
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[ad_1] The deal includes 15 insurance programs across accident and health, property/casualty, and reinsurance, along with the retail agency NSM Insurance Brokers, the company said in a statement. As part of the transition, NSM’s operations will be split into two distinct entities. New brand identities will be introduced for both the U.S. commercial and direct-to-consumer…
[ad_1] Lowering the barriers, not the standards Access alone, Vollmer argues, isn’t enough. For most agents starting out, carrier appointments are the first hurdle. While some appointments come with meaningful support, others require volume commitments, background checks, and long wait times—an uphill battle for someone with no book of business. [ad_2] Source link
[ad_1] She also argues that with such risk, there must be a collaborative approach: “Today’s interconnected risk landscape, the rapid escalation of emerging threats, and their potential for global impact demand a more proactive, integrated approach. This calls for cross-functional collaboration, with risk managers leading efforts to break down organisational silos and adopt a holistic,…
[ad_1] “The sale of Interboro formally completes our strategic transformation into a specialty insurer focused on underwriting commercial residential property insurance,” said Brad Martz, president and CEO of American Coastal. “All of our capital and human resources are now fully focused on our core business.” [ad_2] Source link
[ad_1] In 2022, the most recent year for which data is available, US households spent an average of $1,127 per vehicle on auto insurance, representing 1.51% of the median household income of $74,580. This marked a slight increase from the previous year. State-by-state variations were significant, with North Dakota having the lowest expenditure share at…
[ad_1] In the latest edition of Insurance Business TV, Danny Kaufman, president of Burns & Wilcox, reflects on the firm being named among this year’s five-star wholesale brokers and MGAs. He discusses the lines that have seen particular growth, the innovations the company is making and the role that AI will play in the future….
