Insurance is one of the oldest industries in existence and accounts for roughly $1 of every $4 spent in the United States. Despite its dominance, stability, and longevity, as an industry, young people increasingly write it off as a potential career path. We believe insurtech can help reverse this trend and change the way young professionals look at careers in insurance.
Continue Reading “Is the Insurance Industry Dying a Slow Death?”
With increasing frequency, insurtech startups selling cyber liability insurance online are emerging. With founding teams often possessing deep knowledge and experience in enterprise data security and investors interested in funding companies combating the increased cyber threats all modern businesses face, cyber liability insurance is, understandably, at the core of this new wave of startups. While we believe that cyber insurance plays a critical role in all effective cybersecurity strategies, we have serious concerns about the dangers and risks that come along with the insurtech startups that are only selling cyber insurance. Continue Reading “The Dangers of Buying Cyber Liability Insurance From Companies That Only Sell Cyber Liability Insurance”
Insurance is often an item business owners put off purchasing until an event occurs making it a legal or contractual requirement. In a past article, we took a look at 3 common events legally requiring insurance. However, millions of small businesses operate every day without insurance and they’re risking everything by doing so. In this article, we’re going to discuss the most common types of insurance claims faced by small businesses in America and the events that trigger them.
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We’ve all shopped for insurance at some point in our lives. Whether a personal auto policy or commercial general liability policy, if you research insurance then you’re going to come across A. M. Best’s insurance ratings. But what exactly are these ratings, what factors are evaluated to determine each rating, and what do they mean to a consumer? Let’s take a look.
Continue Reading “The A. M. Best Insurance Ratings Explained”