Kristofer Jones

Very informative information to know. Not only for insurance professionals, but also good information for general population to learn about what goes on behind the scenes at the legislative level.

3

If you've been frustrated about your homeowner's insurance, you're not alone. Here's what is happening: https://lnkd.in/gXcgnkUU #RehmInsurance #insurance #minnesota

1

Interesting read.

2

The Safety Net Your Products Deserve: Why Product Liability Insurance Matters Imagine this: a happy customer using your product, then experiencing an unexpected issue that leads to injury or property damage. Suddenly, your business faces a potential lawsuit. This is where Product Liability Insurance steps in, acting as a crucial safety net in your business protection chain. What is Product Liability Insurance? Product liability insurance protects your business from financial losses arising from claims of injury or property damage caused by your product. It covers legal costs, compensation awarded to claimants, and other expenses associated with defending a product liability lawsuit. Why is Product Liability Insurance Important? Peace of Mind: Product liability claims can be stressful and expensive. This insurance offers a safety net, allowing you to focus on your business without constant worry about potential lawsuits. Financial Security: Even unfounded claims can be costly. Product liability insurance can help cover legal fees,settlements, and judgments, preventing financial hardship for your business. Brand Reputation: A product liability lawsuit can damage your brand reputation. Demonstrating you have product liability insurance shows a commitment to product safety and customer well-being. Who Needs Product Liability Insurance? Manufacturers: Protects against claims arising from defects in design, materials, or manufacturing processes. Wholesalers and Distributors: Covers potential liability even if you didn't manufacture the product. Retailers: Safeguards against claims related to how you store, display, or sell products. Don't Leave Your Business Exposed: A product liability claim can be a significant threat to your business. Product liability insurance provides a financial safety net, fosters customer confidence, and allows you to focus on delivering high-quality products. Have you considered product liability insurance for your business? What steps do you take to ensure product safety? What industry are you in, and how does product liability insurance benefit your business? By investing in product liability insurance, you're not just protecting your business – you're demonstrating a commitment to product safety and building trust with your customers. #InsuraTalk #InsuranceAdvisor #FinancialAdvisor #ProductLiability #BusinessInsurance #RiskManagement #BusinessProtection

2

To us, insurance is personal – it’s more than a policy, it’s a promise. Let us help you find the right coverage to protect what matters most to you.

2

The Future of Insurance: How Technology is Changing Coverage in Indiana Technology affects everything, and insurance coverage is no exception. Here are some of the changes and even some of the benefits we all might expect. AI The use of artificial intelligence (AI) in insurance will be crucial. Algorithms driven by AI can identify fraudulent activity, process claims more quickly, and assess risk more precisely. By offering prompt assistance and tailored suggestions, chatbots and virtual assistants improve customer service. Automation lowers the amount of manual labor, increasing operational effectiveness and economy. Underwriting & Data The underwriting procedure is changing because of data analytics. With access to a plethora of data from multiple sources, insurers can now make more educated judgments on pricing and risk assessment. With the aid of advanced analytics, insurers may develop more specialized coverage options, more focused marketing campaigns, and a deeper understanding of client behavior. Distribution Digital platforms are both complementing and disrupting traditional insurance distribution routes. Customers can conveniently compare quotes, coverage, and perks from numerous insurers by using online insurance aggregators and comparison websites. Insurance companies can reach a wider audience and adjust to shifting consumer demands thanks to digital distribution platforms. Risk Risk prevention in insurance is significantly impacted by the Internet of Things (IoT). Wearable health trackers and smart home sensors are two examples of connected technologies that offer real-time data that can promote better lifestyles and assist avert losses. Customers can profit from lower rates and insurers can decrease risks by offering incentives to deploy IoT devices. This creates a win-win situation for both parties. Personalization Insurance companies can now take a customer-focused stance thanks to technology. Insurers may produce more individualized product offerings and customized customer experiences by using data analytics and artificial intelligence to obtain insights into the preferences, needs, and behaviors of their customers. Being customer-focused gives you a competitive edge in a market that is changing quickly. Real-Time Claims Technological developments make it possible to process and resolve claims in real-time, offering a smooth and effective client experience. AI, image recognition, and data analytics can be used by insurers to speed up the evaluation of claims, lower fraud, and guarantee timely reimbursements. Real-time claims resolution increases client happiness and cultivates a sense of loyalty. Keep this conversation going by commenting below, liking this piece, sharing this article, calling me directly at (812-369-0747), or e-mail me at (brandon.barrett@infarmbureau.com).

1

Join me May 14th @ 8:30 AM: Session T503 – OSHA Compliance Update. The OHCA convention is a premier event and Acrisure will also have Alec Fruin, MBA and Sonja Brininger, SHRM-CP also in attendance. Stop by our Booth #846 as well. We'll be talking cyber risk, human resources, OSHA's pending rules on Infectious Disease and Workplace Violence, and your biggest risk management or insurance problem. We look forward to seeing you. #osha #violenceprevention #patientsafety #insurance #riskmanagement #healthcare

8

As a testament to the intense focus on convective storms within the insurance industry, we had a bad hail storm come through our own little section of Chicagoland this past Tuesday, May 7, 2024. The storm chasers were out almost immediately. Pro Tip: If a public adjustor or roofing contractor contacts your client, do not let them sign over or "assign" their claim. This is called Assignment of Benefits. Instead, encourage them to call a contractor that they trust to inspect their home. If filing a claim is warranted, an insurance company field adjustor will confirm the damage and offer a fair settlement.  

3

1 Comment

The most dangerous mode for underwriters Autopilot It’s easy to slip into. You’ve seen so many similar accounts. You’re snapping out quotes left and right. The danger comes from missing the obvious. ⚠️Not getting supplementals ⚠️Not confirming controls ⚠️Not digging into websites How to snap out of it? Testing Every so often you have to calibrate and confirm you’re getting all the necessary information. 👨‍🔧Have a co-worker audit your file. 👨‍🔧Make a template listing the minimum amount information needed. 👨‍🔧Teach someone else how to underwrite that type of account.

94

2 Comments

Are you an insurance professional, an SIU investigator, attorney or a consumer? Discover where your money's going and how to investigate. It's funny, terrifying and true. Get YOU PAID FOR THIS here: https://a.co/d/bdadWmm #insurance #insurancefraud #cybercrimes #cyberfraud #aisiu #fifec #fraudfighters

15

One of the best things you can do to reduce and prevent water damage is to install a flow-based water-leak detection device. To help you choose the right one for your home, consider these quick tips:

1

EMC Insurance Companies helps support the Leadership Iowa program, which promotes leadership skills and civic responsibility to prepare for the future needs of our state's industries. Congrats to this year's graduates! #leadership #futureofinsurance #improvinglives

38

1 Comment

If you've been impacted by this week's storm, be sure to file a claim at 1-800-226-6383 or click here to file online: https://lnkd.in/gmi7dAsw. If you've already filed a claim, here are a few steps to take while you work though storm clean up.

1

Do you ever share your vehicle with a friend or loved one not in your household? Here are some great tips from our partners at West Bend Insurance Company about making car sharing and how coverage works on your #personalautopolicy Wondering whether you have adequate #coverage? Contact me today for a comprehensive review of your #personalinsurance policies. #homeownersinsurance #autoinsurance #personalumbrella #liabilityinsurance

8