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Zurich Insurance Company

Best upgrades Hiscox issuer credit rating

A.M. Best Europe-Rating Services Ltd. has upgraded its issuer credit rating to a+ from a for several units of Hiscox. Citing the financial strength of the parent company, the insurance ratings firm upgraded the ratings of Bermuda-based Hiscox Insurance Co. (Bermuda) Ltd., U.K.-based Hiscox Insurance Co. Ltd. and Guernsey-based Hiscox Insurance Co. (Guernsey) Ltd. Moreover, AMBest credited Hiscox’s consolidated risk-adjusted capitalization and underwriting performance, noting that the group has an average five-year combined ratio of approximately 90%. The ratings firms also singled out Hiscox’s strength in the Lloyd’s of London market. What that means for you? It means that you… Read More »Best upgrades Hiscox issuer credit rating

Zurich Insurance launches apps for risk managers

Zurich Insurance Co. Ltd. has launched two apps for risk managers, the insurer announced Wednesday at Risk & Insurance Management Society Inc.’s Annual Conference and Exhibition in Philadelphia. The Zurich Risk Room app is a limited version of the larger risk modeling software Zurich offers clients. The app shows scenarios for natural catastrophe and disaster management, supply chain disruption, regulatory imbalances, social value of insurance and economic value of insurance. Each has 10 to 12 preselected risks offering a comparison of different countries’ stability as well as modeling the interconnection among risks. New risks and scenarios will be added as… Read More »Zurich Insurance launches apps for risk managers

CA Work Comp Carriers Change Rates

Several California admitted insurance companies are going to file new rates with the California Department of Insurance for workers’ compensation policies effective in July 2020. To see a comparison of averages rates and to learn more about how these changes affect premium, go to www.paperless-insurance.com and click on “Get a Quote Now”. As you are shopping for the renewal, it is important to keep in mind that not all rates change uniformly. Rates for some policyholders will go up and some will go down. Knowing how much your renewal rates are changing could be valuable information to have as you… Read More »CA Work Comp Carriers Change Rates

California Workers Comp Agreements Review

California’s Department of Insurance is seeking to force units of Zurich Financial Services Ltd. to cease issuing workers compensation “large-deductible agreements” that have not been properly reviewed. The California Insurance Code requires insurers to submit workers comp policy forms and endorsements to the Department of Insurance and to the Workers’ Compensation Insurance Rating Bureau of California for legal review before they are issued to policyholders. However, Zurich American Insurance Co. and Zurich American Insurance Co. of Illinois may have evaded such a review, the Insurance Department said Tuesday in announcing that it had begun an administrative enforcement action. “The unreviewed… Read More »California Workers Comp Agreements Review

Cheesy for some Papa John’s

Fireman’s Fund has opened the door to a new eligible risk and franchise for Paperless Insurance! The franchise’s ‘Better Ingredients,  Better Pizza” has made them infamous but their esteemed reputation and recognized leadership practices has made them our goal! Papa John’s Pizza now eligible in Paperless Insurance’s national Pizza Operators Insurance Program. Our program is written on a Business Owners Policy (BOP), which includes Business Personal Property with Tenants Improvements and Betterments, Business Real Property (if insured owns the building) and Business Liability. The BOP also includes Data Compromise, Crisis Management, Food Contamination, and Identity Recovery. Other coverages available in most states include Non-Owned Auto, Hired Auto, Owned Auto, Excess Liability, Liquor Liability, Workers Compensation, Employee Benefits Liability, Employment Practices Liability and Payment… Read More »Cheesy for some Papa John’s

Eleven Cybersecurity Tips for Small Businesses

Broadband and information technology are powerful factors in small businesses reaching new markets and increasing productivity and efficiency. However, businesses need cybersecurity tools and tactics to protect themselves, their customers, and their data from growing cyber threats. Here are ten key cybersecuritytips for businesses to protect themselves: 1. Train employees in security principles Establish basic security practices to protect sensitive business information and communicate them to all employees on a regular basis. Establish rules of behavior describing how to handle and protect customer information and other vital data. Clearly detail the penalties for violating business cybersecurity 2. Protect information, computers and… Read More »Eleven Cybersecurity Tips for Small Businesses

New: Zurich Fleet Intelligence

Global driver risk management company has partnered with Zurich on its new, integrated fleet risk management system called Zurich Fleet Intelligence (ZFI), offering its telematics services to Zurich’s insurance customers seeking ways to minimize their fleet’s operating costs and reduce crashes, all while keeping their vehicles up-and-running and drivers safe. ZFI works by combining the data from telematics services or data from other leading vehicle telematic providers with Zurich’s extensive analytical tools to turn the data into insights that can help fleet managers reduce their fleet operating costs, as well as: Optimize vehicle journey planning and deployment; Reduce vehicle running… Read More »New: Zurich Fleet Intelligence

Focusing on Risk Uncertainty

1. Uncertainty can be assessed and measured. 2. Emerging risks radars must be built and systems for continuous scanning established. 3. Even under uncertainty, prudent forecasting is possible and necessary. 4. Contingency planning is indispensable. 5. Establishing resilience buffers will dilute adverse impact. A new report from Zurich Financial Services notes that in contrast to the “bulk of risks faced by the corporate sector,” which are more or less “easily identified,” and can thus be dealt with, “there is a class of risks with often severe consequences that is, at times, difficult to grasp, even more difficult to assess, and… Read More »Focusing on Risk Uncertainty

Hard Market – First Signs of New 2011

Several years ago we have attended Zurich insurance company conference for insurance professionals. Everything was there: interesting people, interesting meetings, interesting facts. For example, Zurich was one of the pioneers in insurance technology, introducing first online rating system for agents, in the U.S. Today Zurich Insurance Company is one of the major players on the world insurance arena. At that convention, Zurich NA Director of Sales (former) said that the hard market is was in the past and will be way in the future. It looks like the future has come: the insurance and reinsurance industry will come under pressure… Read More »Hard Market – First Signs of New 2011