Tag: INSURANCE

Legislative Action Aims to Ease Florida Homeowners Insurance Market Struggles

This post is part of a series sponsored by AgentSync.

Florida’s struggles to retain a property and casualty (P&C) insurance market have made headlines and spurred a special legislative session this year. With a package of regulatory overhauls and an unprecedented move for state-backed reinsurance, it remains to be seen whether the reforms can plug the holes of Florida’s beleaguered system.

General struggles in P&C across the country

As climate change increases the number and severity of natural disasters and their accompanying damages, states particularly vulnerable to drought or floods have struggled to maintain coverage options for homeowners.

California has stop-gap measures enabling the insurance commissioner to put a moratorium on home insurance cancellations in disaster areas. In the wake of Hurricane Katrina, the biggest insurers pulled out of homeowners insurance in Louisiana. That state now maintains its P&C market through smaller, more localized insurers, which the state tailors its

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Prioritizing Compliance in Insurance Mergers and Acquisitions

This post is part of a series sponsored by AgentSync.

While the pandemic cooled off mergers and acquisitions activity in the insurance market, all signs point to a hot M&A market in the next year. If you’re in the position of evaluating (or being evaluated!) for an M&A fit, don’t leave compliance controls out of the mix.

At AgentSync, we’re not lawyers or accountants, so we aren’t planning to address the legalities or finances of insurance M&A activity in any depth. However, we are compliance junkies. And, to that end, we’re here to talk about where license compliance fits in your insurance M&A due diligence process (and the short answer is everywhere, it fits everywhere).

Priorities in M&A valuations

Most M&A due diligence lists have 10 to 20 key areas to investigate both for the purposes of assessing a business’s fair market value and for determining a best fit for

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Louisiana Offers Extension for Homeowners with Canceled Coverage, Illinois Asks for Honesty, Colorado Looks for Marshall Fire Claims Relief

This post is part of a series sponsored by AgentSync.

State by state variations of laws, compliance protocols, industry transparency, and general regulatory cultures can lend one the impression that keeping up with industry changes is a little bit like herding cats. So, what better way to wrangle some of the more localized insurance news than in a Regulatory Roundup?

On an ongoing basis, in no particular order or rank, we’re wrestling the various regulatory changes, compliance actions, and commissioner decisions into our roundup. As a disclaimer: There’s a lot going on at any given time in these here United States, so this isn’t a comprehensive picture of state-level action by any means. Think of it as, instead, a sample platter of regulation.

Louisiana cancellation and putting coverage with Citizens

Louisiana Insurance Commissioner Jim Donelon has announced an additional 60 days for homeowners to replace coverage from liquidated Florida P&C

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7 Steps to Combat the Rising Threat of CPC Theft for drivers and fleet carriers

This post is part of a series sponsored by IAT Insurance Group.

Recently, 24 commercial trucks were rendered useless at an auction house in Pennsylvania when the Common Powertrain Controller (CPC) modules were stolen from the trucks’ dashboards.[1] A string of CPC thefts across the country have left truck owners and fleets with unusable trucks at a time when having available equipment is vital to keeping operations running.

Similar to the influx of stolen car catalytic converters because of their trace amounts of rare metals, CPCs are known as the brains of commercial trucks and fetch a high price on the black market. Controlling the engine and powertrain functions, trucks cannot run without a CPC.

7 ways to address CPC theft for drivers and fleet carriers

A proactive approach is the best deterrent for theft of any kind, especially when it comes to crucial elements that keep your fleet

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Who Owns Your Insurance Data?

This post is part of a series sponsored by AgentSync.

When you implement a new tech solution, you assume you own, and can easily access, your data from within said system. This isn’t necessarily the case. Read the fine print and you may learn your data isn’t accessible, or even yours at all!

Sure, you probably legally own your data. You likely have it in writing, that if you walk away from whatever software services you contract with, you can export a massive CSV file or what have you. But do you own your data? Can you use it to better understand your business, your customers, your producers, your process? Because that’s really owning your data.

Insurance runs on data

ROI, NPS, CBA… Turn times, lagging indicators, leading indicators… Data drives decisions – nowhere is this more concrete than in insurance, where the fundamental idea of the business is grounded

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