A National Economic Imperative

This post first appeared in the Blog & Podcast series: Building Financial Resilience for an uninsurable future. Climate change poses significant economic challenges and risks that create a national economic imperative for the United States. Several ways in which climate change impacts the economy include: Extreme Weather Events: Climate change contributes to an increase in … Read more

The Critical Importance of Rating Agencies: Joseph Petrelli, CEO of Demotech (AoB S1E3)

Insurance company Rating Agencies perform a critical and yet, underappreciated function to society. As an impartial 3rd party, Rating Agencies evaluate insurance companies for their ability to pay future claims and remain solvent. Now the ability to pay future claims depends on a large part to the amount of assets and surplus an insurer has … Read more

Enforcing Financial Integrity – The Importance of Separation of Duties

Financial management is difficult enough in the business world, but when you add the additional layer of complexity with fiduciary accounting (anything that deals with an insured’s money!), it is vital that an agency has processes in place that ensure integrity, accuracy, and security of accounting information. One key principle that plays a pivotal role … Read more

Changing the Way You Think About Money – The Get Ready Blueprint: Week 8 – Create a Critical Emergency Action List

(NOTE: We will use Financial Wellness Fridays as a way to provide insights on how financial and money professionals think about, lecture on and practice financial discipline. These posts will follow Tony Steuer’s Get Ready Formula and we will provide a summary of his weekly recommendations from this 52 week workbook titled The Get Ready Blueprint – A 52 Week … Read more

Fresh from the Grid: Learning from Utilities

(This is the first in a two-part series from David Sussman) Similar Industries  For decades, both the insurance and utility sectors have been cornerstones in the lives of homeowners. As heavily regulated, well-established industries, they’ve long been viewed as essential, non-negotiable services. People need electricity just as they need protection from unforeseen events.  The landscape … Read more