Oak & Associates receives many calls about valuing small books of business, and is asked if it is worth doing a valuation when the buyer knows what they want and the buyer does not want to spend a lot of …
We made it! We survived the economic instability of the past few years and have more than rebounded. The insurance industry is well ahead of the greater economy; and the picture painted by our labor market is much different than …
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Despite significant optimism about key market fundamentals, year-over-year agency valuation increases and agency performance metrics, ownership perpetuation continues to be the biggest long-term challenge to independently-owned insurance agencies, according to the MarshBerry 2013 Market & Financial Outlook Survey. The survey …
Insurance sales success can be like a game of tennis. Many summers ago I fell in love with the game of tennis. For the next six years, I played every day possible. One of my limitations was that living in …
Robots of the future could improve business efficiencies, but companies must implement risk management beyond legal requirements to minimize accidents and damage to their reputation. In recent years, robotics applications have increasingly been demanded by a growing range of industries …
Insurers need to learn how to manage new risks, not just exclude them, and actuaries can help. Since the mid-1980s, casualty insurance has shrunk as a share of gross domestic product. Insurers have been able to push liabilities out of …
Technology failure and cyber attacks represent a greater threat to most organizations than adverse weather, fire and social unrest combined, according to a new report by Guy Carpenter. The report, “Tomorrow Never Knows,” highlights critical emerging risks facing the insurance …
The life sciences industry has seen a dramatic increase in product recalls, and while insurance capacity for the life sciences industry generally has been increasing, insurers have been wary about offering more product recall coverage to the segment. As of …
The insurance industry will count on the Terrorism Risk Insurance Program (Program) if there is a terrorist strike on the United States, but will the Program respond if the act of terrorism is a cyber event? Cyber terrorism is an …
