Trends Driving Social Inflation and How to Respond
As an insurance buyer, you may have heard the term “social inflation” used by your insurer to explain the factors driving up the cost of coverage in today’s market. In general, social inflation refers to the rising costs of insurance claims that are a result of societal trends. Trends such as increased litigation, broad insurance policy interpretation, plaintiff-friendly legal decisions and larger jury awards all drive social inflation in the insurance space. As the insurance market changes, it’s important for businesses to understand what’s currently driving social inflation. Doing so not only provides you with a better understanding of the issues...
Say No to Ice Dams and Frozen Pipes
Reduce the Risk of Ice DamsInsulate and ventilate attic space: The underlying cause of ice dams is a warm roof, and the best way to address this is to hire a licensed contractor to inspect your attic space for proper insulation and ventilation. They should evaluate and ensure that: Attic space is properly ventilated to carry away warm air. Living space is well insulated and all points where warm air may leak up into the attic are sealed.Clear snow: If your home has experienced ice damming in past seasons, enlist the help of a professional to rake excess snow off...
Cyber Risk – SolarWinds Orion Advisory
The Arthur Hall Insurance team is following the cyber insurance ramifications of the SolarWinds Orion Supply Chain Cyber Incident. FireEye, a cyber-security company, discovered this large cyber incident in December and the extent and scope of the occurrence is still unfolding. malware used in this cyber intrusion is also known as SUNBURST. The hackers compromised SolarWinds Orion software, which in turn impacted a large amount of government entities and private companies. We are providing this notice due to the size of this incident as well as the cyber insurance marketplace response. If you have not already done so, we recommend you contact...
United States Postal Service Experiences Unprecedented Delivery Delays
Delays in mail service delivery may impact when you receive your insurance policies and invoices. In addition, the delays may also impact the receipt of your insurance premium payment. In order to ensure that your premium payment is received in a timely manner, we recommend that you pay your premium via electronic payment methods. There are options to pay securely by phone, online and/or through a client portal specific to your individual insurance carrier. The electronic payment options can be found on your invoice or please visit our website for a list of insurance carrier websites.Should you have any questions or need...