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JOE POLISH
3 KEYS TO ATTRACTING YOUR MOST IDEAL
CUSTOMERS + CLIENTS
CONTENTS
3 ATLAS NEWS & EVENTS
5 LETTER FROM THE PRESIDENT
6 DON’T OVERLOOK BUSINESS INCOME INSURANCE
7 FINANCIAL WELLNESS
9 THE NEW ECONOMIC MODEL: PROFIT + PURPOSE 2.0
Amy Jo Martin
12 WHY I STARTED A PODCAST
Neil Pasricha
14 HOW WE DO PERFORMANCE REVIEWS
Ari Meisel
20 HOW DO YOU BALANCE YOUR PERSONAL AND
PROFESSIONAL SOCIAL MEDIA PRESENCE?
Ann Handley
22 BRAND ENDEARMENT: RETURN THE HIGH-FIVE
Scott Stratten
24 PERSONALITY TESTS
Dr. Brad Smart
BY: CHASON ISHII,
PRESIDENT OF ATLAS
INSURANCE AGENCY
Aloha!
N
ow is the time for you to budget and prepare for the
“hardening” of the insurance market. You might not realize
it, but for the most part, premiums have been steady or
even declining for years now. This is about to change.
Insurers are experiencing higher than expected losses.
For property insurance, natural disasters are mostly to blame. The A.M.
Best Report says that Hurricanes Harvey, Irma, and Maria contributed
to near-record high US catastrophe losses in 2017, with net catastrophe
losses of $53 billion. Then in late 2018, the United States was hit with
Hurricane Michael as well as the California wildfires, resulting in net
catastrophe losses of more than $37 billion.
The market may also be hardening for general liability, E&O, D&O, and
EPL insurance, where an increase in litigation is leading to large losses.
To see how lawsuits are changing, just look at the Securities Class
Action (SCA) numbers. According to Risk & Insurance, SCA claims have
skyrocketed. In 2015, there were 208. In 2017, that number jumped to
412. In 2018, it stayed about steady with 403 claims. Claims involving
cybersecurity mismanagement and the #MeToo movement appear to
be a big factor behind the sharp increase.
Even the most prepared organizations will have to accommodate
the changes that come with a hardening market. Adapting to
market changes takes an integrated insurance purchasing and risk
management approach where buyers are prepared.
Businesses should remember two things:
1. Select a Strong Broker. An insurance broker becomes even more
valuable in structuring and negotiating coverage and programs for
your maximum benefit. Insurers are approaching the market shift with
different strategies: some focused on rate increases, others focused
on restricting terms, or others focused on both. Thorough coverage
evaluations are warranted to understand changes in policy wording and
the resulting impact on future claims.
2. Proactive Loss Prevention Focus. Select an insurance broker that
has a risk consulting team that can help you present a strong risk
management practice and safety plan. Carriers will want to make sure
business owners have proactively managed potential exposure to keep
any premium increase to a minimum.
26 FIRE LOSSES:
Prevention, Protection, and Action With the challenging environment for insurance buyers in 2019,
policyholders face tough business decisions. It is even more important
to partner with a broker that will give you critical insight to better
navigate these challenging market conditions. +
28 WE HAVE MOVED!
New Headquarters To learn more about Atlas Insurance, check out our website at
atlasinsurance.com or join us on LinkedIn and Facebook.
31 ATLAS CLIENT TESTIMONIALS
Chason Ishii
ATLASINSURANCE.COM
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