Characteristics of Successful Public Policy

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Many people gripe about the laws and politics of the United States, but what separates good from bad public policies? Few people have anything to complain about in regards to complex issues such as the merit of rural electrification or the national weather service, but many more hot-button issues create a divided public, especially when lobbying interests advance a particular agenda. Placing personal opinions aside, how do we know which public policy initiatives most effectively benefit us on a personal and national level.

Spotlight

Texas Windstorm Insurance Association

TWIA was created to give coastal Texans access to wind and hail property insurance when no other insurer will provide it. After Hurricane Celia in 1970, enough insurers were excluding wind and hail coverage from their coastal insurance policies that it gained the attention of the Texas Legislature. The Legislature found that “the provision of adequate windstorm and hail insurance was necessary to the economic welfare of Texas, and without that insurance, the orderly growth and development of the state would be severely impeded.” To provide this essential insurance, the Legislature created TWIA in 1971.

OTHER ARTICLES

RPA in Insurance: 6 Tips for Success

Article | February 12, 2020

It’s not hard to understand the appeal of Robotic Process Automation, or RPA, in insurance: by automating mundane, repetitive tasks like data entry, it can reduce costs and cut cycle times while freeing employees to focus on providing better service to customers. Over the past few years, I’ve talked with, advised, and worked alongside insurance companies as they implemented RPA. All of them have benefited, but few have gained as much as they expected.

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Best Business Insurance for 2020

Article | February 12, 2020

Hopefully, you’ll never have to use your business insurance. But just like car insurance or health insurance, protecting your business from unexpected situations is crucial. However, 44% of small business owners don’t have insurance. This statistic is shocking. If you’re uninsured or underinsured, your company could potentially go bankrupt if something goes wrong, and you’re forced to pay out of pocket.

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COVID-19: How Insurance Can Help Mitigate Business Losses through the Crisis

Article | February 12, 2020

The COVID-19 outbreak is now a pandemic, affecting governments, businesses and individuals all over the world. As borders are closed, and day to day life is put on hold, it presents an unprecedented threat to the global economy and to the future viability of many businesses. Nevertheless, there are steps that organisations can take to protect themselves, and to ensure the financial consequences are kept to a minimum. In particular, businesses should be considering whether they can mitigate losses through their existing insurance policies. Regardless of the type of insurance, particular attention should be paid to notice requirements typically set out in each policy wording.

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Claims - the final frontier for insurtechs

Article | February 12, 2020

What is the insurtech difference when it comes to claims? Jonathan Swift mulls on how the Next Generation is starting to figure this out “The claims experience is really critical to our brand and making sure that customers are saying Digital Risks is who I am insured with. Whilst others struggle with that, we want to be a case that if you have a claim it is Digital Risks who you are dealing with.” This sentiment is interesting because there has perhaps been an – incorrect – assumption that insurtechs are really only focused on acquiring customers by making it as simple as possible.

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Spotlight

Texas Windstorm Insurance Association

TWIA was created to give coastal Texans access to wind and hail property insurance when no other insurer will provide it. After Hurricane Celia in 1970, enough insurers were excluding wind and hail coverage from their coastal insurance policies that it gained the attention of the Texas Legislature. The Legislature found that “the provision of adequate windstorm and hail insurance was necessary to the economic welfare of Texas, and without that insurance, the orderly growth and development of the state would be severely impeded.” To provide this essential insurance, the Legislature created TWIA in 1971.

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