citybiz’s Post

In a recent piece for Risk & Insurance, our very own Mary Boyd, CEO of Hiscox USA, outlines business opportunities for commercial insurance in the US market, as well as the importance of unlocking opportunities through education. Read more: https://lnkd.in/ea3Fmfzi

✨ Exciting News! ✨ The National Alliance for Insurance Education & Research has revised its name and logo to Risk & Insurance Education Alliance! “The changes honor the proud partnerships we’ve built for decades — serving three million participants since our founding in 1969,” says Eduard Pulkstenis, CIC, CPCU, FCAS, MAAA, chair of The Alliance Research Academy Board of Directors, and SVP and Chief Underwriting Officer of EMC Insurance Companies. “We’ve also modernized our look, and our new name better reflects the growing importance of risk management in the lives of businesses and families as well as in the careers of emerging industry talent.” “Alliance” was retained in the nonprofit organization’s name to embody its volunteer partnerships, according to William Hold, CRM, CISR, President & CEO of the Risk & Insurance Education Alliance. The new name was solidified once the word “risk” was added. “Anyone who has talked with college students or professionals considering a career change knows the word ‘insurance’ by itself does not attract much interest, but add the word ‘risk,’ and you’ve captured their attention. In sum, our name now represents the breadth of learning opportunities we offer and the fact that managing risk is the industry’s overarching goal.” 🔗 Learn more by visiting our website: https://lnkd.in/gQ-NaXAy #RiskInsuranceEducationAlliance #TheAlliance #RiskManagement #Insurance #Education

"The most common mistake I see is when families don’t have their advisor grind through all of the details to ascertain which legal structure holds which asset. If insurance doesn’t reflect the correct ownership, claims can really go sideways," says Brooke Hunter, founder and president of HUNTERS International Insurance, which serves individuals, corporations and their boards. Hunter spoke with Barbara Stewart, CFA for Canadian Family Offices about her beginnings in a Vancouver art gallery, following in her dad's footsteps in the insurance business and what her clients are concerned about now. #insurance #brokerage #wealth #wealthmanagement #familyoffice #familyoffices #CIP #ACIP #FCIP #CMGA #GIE #CMA #CFA #CPA #CA #FEA #FEC #FELI #RFP #CMT

What fun it is getting to talk about myself! Thank you Barbara Stewart, CFA for the chat and time to reflect for Canadian Family Offices! In all seriousness, when we bring our business risk lens to private client situations HUNTERS International Insurance adds real value. Canadian Family Offices highlights a common mistake we see occur in the insurance management for wealthy families. #wealth #wealthmanagement #riskmanagement #insurance #familyoffice

🌟 It's National Insurance Awareness Day! 🌟 Kick off your summer with a crucial tip from UOlivet's insurance and risk management program director and expert, Professor Tom Humphreys, CPCU, CLU, ChFC, CIC : "The start of summer is the perfect time to review your insurance policies. Insurance isn't just a financial safeguard; it offers essential support in emergencies, peace of mind and effective risk management. Life changes like marriage, a new child, moving, commuting distances, home improvements, age and business growth all impact your coverage needs. Unfortunately, it's often when severe weather strikes that families and businesses realize their insurance is lacking. Build a strong relationship with your insurance agent—they're there to help." Check out UOlivet's MBA IRM concentrations and nationally ranked undergraduate IRM programs: https://lnkd.in/epGzdKii #NationalInsuranceAwarenessDay #PeaceOfMind #UOlivet

The Univeristy of Iowa’s Vaughan Institute has cracked the code on how to get more business students interested in careers in insurance by exposing them early to the profession. Having a seasoned leader like Fred Crawford actively engaged with students and faculty will further elevate the experience of UI students. Hat tip to Jim Lewis Amy Kristof-Brown for innovative leadership.

🔍 The Insurance Epiphany: A Lesson Learned 🔍 When I first transitioned to my role as an independent financial consultant, I was just like many of my clients— I underestimated the vital role insurance plays in a solid financial strategy. Here’s a reality check on why that happens: 🔸 𝗢𝘃𝗲𝗿𝗰𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲 𝗶𝗻 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗥𝗶𝘀𝗸: Ever thought “it won’t happen to me”? It’s a common belief, but it often leads to serious risks being overlooked and financial vulnerabilities being ignored. 🔸 𝗣𝗲𝗿𝗰𝗲𝗶𝘃𝗲𝗱 𝗖𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆: The world of insurance can seem complex and confusing. Many people avoid it or push it to the back burner, thinking it’s something they can tackle later. 🔸 𝗖𝗼𝘀𝘁 𝗖𝗼𝗻𝗰𝗲𝗿𝗻𝘀: Insurance can sometimes feel like an optional expense. But the cost of being underinsured or uninsured can far exceed the price of coverage when unexpected events occur. 🔸 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗚𝗼𝗮𝗹𝘀: It’s tempting to focus on short-term needs and goals, but neglecting long-term protection can leave you vulnerable in the future. ----------------------------------------------------------------------------------- I used to share these misconceptions until my role opened my eyes to the real importance of the subject. Now, I help clients navigate these challenges and build strategies that truly protect their financial future. 🛡️✨ Financial planning isn’t just about hoping for the best — it’s about preparing for whatever might come your way. Let’s address these gaps together!💼🔒 

Yesterday, I had the opportunity to attend "Exploring Tomorrow’s Strata," a focused half-day seminar that brought together industry experts and insurance brokers to delve into the rapidly evolving strata insurance sector in Australia. The seminar was a deep dive into several critical aspects shaping our industry: 🔹 Industry Growth Trends: We explored the dynamic expansion of the strata insurance market and what the future holds. 🔹 Insurance Affordability: Addressing the pressing issue of affordability, we examined strategies to manage and mitigate costs. 🔹 Impact of Natural Catastrophes: With natural disasters on the rise, understanding their escalating impact is crucial for effective risk management. 🔹 Building Defects: Discussed the unique challenges posed by building defects and their implications on insurance policies. The expert-led presentations provided a comprehensive analysis of these areas, fostering informed discussions on risk management and cost influences. This seminar was not just about understanding the challenges, but also about identifying opportunities and actionable strategies to navigate the complexities of the strata insurance market. A big thank you to the organizers for creating an insightful event. #StrataInsurance #RiskManagement #InsuranceBrokers #IndustryGrowth #NaturalCatastrophes #BuildingDefects #InsuranceAffordability #ExploringTomorrowsStrata #ProfessionalDevelopment Insurance News

Is your business ready for the risks of providing services? Professional indemnity insurance is key for effective risk management, covering legal costs and claims. Vital in fields where errors can cause significant financial losses, professional indemnity insurance ensures smooth operations. Find out more about the importance of professional indemnity insurance for businesses in Ireland: https://lnkd.in/eguEgqqn

Pt. 2...Winning.....from the Locker Room to your Insurance Renewal.... Continuing from yesterday's post, where I shared the first two essentials to "Winning" at your next insurance renewal.... What's crazy is that it really isn't that hard, most brokers just don't think about it, they are stuck in their old ways. 3. Double Down in Tough Times - Neyland's Maxim: "If at first the game - or breaks - go against you, don't let up....put on more steam." - Your Renewal: When faced with setbacks like unexpected claims or regulatory changes, your broker should not back off. Instead, they should intensify efforts, reaassess strategies and adjust to keep your business protected and financially stable. Resilience and industry expertise is paramount! Find a broker that knows your industry! 4. Protect Critical Assets - Neyland's Maxim: "Protect our kickers, our QB, our lead and our ball game." - Your Renewal: Key employees, data, and financial stability are the backbone of your firm. Your broker should ensure these are well-protected with comprehensive coverage designed specifically for YOU! Your program should be Holistic in nature, not just the bare minimum required by contracts! In case you couldn't tell, your broker partner matters! Find one who knows your industry and is willing to know Your business and build a program that works well for YOU! Part 3 tomorrow! Yes, that's me running out of the tunnel pregrame....it is crazy how much it has all changed! #Staffing #7KeystoWinning #FootballToBoardRooms #PEO #StaffingRiskManagement #DoesYourBrokerKnow #WorkersComp101