Transactional Risk Insurance Claims Study

August 15, 2019

Fifteen years ago, clients asked, “What is W&I insurance?” Now they ask, “Are there any claims under W&I insurance policies?” Or, more simply, “Do W&I insurance policies actually work?” The answer is “yes”. Marsh JLT Specialty’s first edition of Transactional Risk Insurance Claims Study, EMEA shows that not only have far more notifications been made in recent years, but so have the number of notifications made as a proportion of overall policies placed. Notifications are also being made much sooner, and claims are being paid more quickly.* This is evidence that W&I insurance is no longer just a deal facilitation tool but a proven risk transfer mechanism.

Spotlight

HUB International

HUB International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty insurance, travel insurance, truck insurance, E&O insurance, life and health insurance, employee benefits, investment and risk management products and services throughout offices located in the U.S. and Canada.

OTHER WHITEPAPERS
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Top trends in property and casualty insurance 2023

whitePaper | December 5, 2022

As we head into 2023, P&C insurers will prioritise digital transformation initiatives to navigate geopolitical risks, supply chain disruptions, sluggish growth and rising inflation. Key actions will include focusing on customer centricity, prioritising agile product innovation, embedding sustainability into corporate strategy, and building advanced digital capabilities to build a resilient, future-ready enterprise.

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Important Considerations for Independent Agents Today

whitePaper | December 21, 2021

It would be imprudent, however, to suggest that change isn’t coming. If nothing else, the pandemic has brought about a whole new set of unexpected financial challenges – which means consumers are looking for more choice than ever before. This pandemic has also demonstrated the overarching value proposition of insurance. In turn, this means we’re seeing savvy agents broaden their targets, so they’re not only focused on the more affluent middle classes but instead finding creative and impactful ways to reach those largely underserved segments.

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Consumer indifference is still a challenge for personal cyber insurers

whitePaper | March 9, 2020

Only about one in 10 connected Americans say they have insurance to help them recover from a cyberattack. And close to half do not know whether they have this protection, according to the Insurance Information Institute and J.D. Power 2020 Consumer Cyber Insurance and Security Spotlight Survey℠. Because of consumer confusion about their current cyber coverage, and the persistent idea that consumers are unwilling to pay more, insurers are faced with a challenge. They need to find a way to educate and inform consumers about the benefits of personal cyber insurance, and its value for helping them recover from thousands of dollars in personal losses after an attack.

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AN ASSESSMENT OF THE FEDERAL GOVERNMENT’S FINANCIAL RISKS TO CLIMATE CHANGE

whitePaper | April 26, 2022

The climate crisis poses a serious threat to the United States economy and human welfare, with a narrowing timeframe to invest in opportunities to avoid the most catastrophic impacts. Extreme weather events can be exacerbated by climate change, disrupting supply chains, and flooding made worse by sea level rise can destroy critical infrastructure. As a smaller subset of these impacts, climate change threatens the Nation’s fiscal health.

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The insurance agency workforce: Evolving into the next normal

whitePaper | April 13, 2022

This report marks a milestone with Vertafore’s fifth annual survey and analysis of the state of the insurance workforce. In keeping with the top-of-mind employment issues in our industry, our earlier reports looked at the needs of our multigenerational workforce and how our industry was working to find new talent. These topics are still highly relevant in the insurance industry. However, the historic events of the past two years have caused once-in-a-generation shifts in the employment landscape. Our 2020 report dove into how insurance professionals were navigating the business impacts of the pandemic and remote work while still meeting the needs of their clients. Our most recent survey conducted in November and December 2021 provides insights into how insurance professionals at all levels are grappling with the Great Resignation, as well as how they feel about their work, career prospects, and their technology

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Will the cost-of-living crisis lead to more fraud?

whitePaper | October 27, 2022

A recent survey by Insurance Post found that 98.1% (see figure one) of respondents believe the current economic conditions in 2022 will impact organised and opportunistic fraud volumes.

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Spotlight

HUB International

HUB International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty insurance, travel insurance, truck insurance, E&O insurance, life and health insurance, employee benefits, investment and risk management products and services throughout offices located in the U.S. and Canada.

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