Articles by Andrea Wells

Brokers Assess Current Construction Insurance Market: Thumbs Up

Amid ups and downs, the construction market has nevertheless enjoyed steady growth over the past four years. Now construction insurance specialists believe the market is really heating up. The competition has carriers maintaining a market favorable to buyers, especially those …

Online Agency Insureon Secures $3B in Capacity from Lloyd’s to Launch MGA for Small Business

Insureon, an online agency for small business insurance, has formed a new managing general agency (MGA), Insureon Underwriting Managers, which will operate as a division of Insurance Noodle, the company’s wholesale brokerage subsidiary. The new MGA will target hard-to-place coverage …

P/C Industry Heat

U.S. property/casualty insurers are feeling the heat of today’s competitive market and slow-growth economy. P/C insurers in the United States saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015 – …

Survey: Agents Value Carrier Underwriting More Highly Now Than 5 Years Ago

A comparison of independent agent opinions five years ago to today shows how far the agency channel has come while also illustrating that certain fundamentals remain important throughout cycles and market disruption. Nearly 2,000 independent agents weighed in for the …

Economic Cost of Pandemics

A pandemic influenza outbreak in the United States could have economic costs nearly double the total amounts experts have previously calculated, depending on how the public, government and businesses respond to an epidemic, according to policy and risk experts in …

Velosurance Takes Cycling to the Specialty Insurance Market

Cycling enthusiasts everywhere are watching what might be the world’s most famous bicycling event – the Tour de France – this month. They are also watching some of the world’s most expensive bicycles, which often cost as much as a …

Tech to Detect Fraud

Fraudsters are more often caught by tip-offs and complaints, management review, accidentally, suspicious superiors and internal audits than by use of technology and data analytics. According to consulting firm KPMG, North American companies are not capitalizing on the use of …

Construction Market Keeps Building: Brokers’ Outlook on Current & Future Opportunities

Amid ups and downs, the construction market has seen steady growth over the past four years, and now construction insurance specialists believe the market is set to finally start to heat up. The intense competition has carriers maintaining a market …

Safety: Ridesharing Drivers vs. Average Drivers

Ridesharing drivers are safer drivers than the average American behind the wheel, according to research by Boston-based Aite Group. The researchers, using driving analytics data, conclude that average consumers are safer catching an Uber or a Lyft or entrusting their …

Popular Program Market: New Programs Might Get a Chance

The program insurance segment has been an attractive area for property/casualty carriers in recent years and interest doesn’t appear to be faltering. While carriers have been eager to snatch-up mature and profitable programs for years, interest is gaining among program …