Annette Li

The property claims and restoration industry has been facing significant challenges. Aaron Brunko discusses how organizations can turn these challenges into opportunities by adapting and innovating with C&R Magazine: vrsk.co/3wVFhac. #Claims #Property #Restoration #Innovation #ThoughtLeadership

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The majority of employers in California will need to adopt comprehensive workplace violence prevention plans by July 1, 2024, under newly enacted Senate Bill 553 which is intended to reduce growing and persistent concerns that impact around two million American workers every year. Although only applicable immediately in California, companies nationwide are legally obliged to provide a place of business that is “free from recognized hazards that are causing or are likely to cause death or serious physical harm to employees,” as outlined in the Occupational Safety and Health Act of 1970 (#OSHA). #WorkplaceViolence #California #LegislationCompliance

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🇺🇸 🔥 Major #wildfires in #California have devastated communities and have placed immense pressure on the state's insurers. Over the last ten years for every dollar received in premiums, insurers paid out US$1.08, reflecting a 108 percent loss ratio. The #insurance industry and the state's regulators are working hard to build sustainable approaches for wildfire insurance. They look to understand current and future risks, and the sources of wildfire risk such as utilities, and start to incorporate mitigation initiatives to provide coverage that best reflects the risk landscape. In a new blog, Firas Saleh, Ph.D outlines what's happening in the #California #wildfire #insurance market and how the forthcoming Moody’s RMS U.S. Wildfire HD Version 2.0 Model will significantly advance wildfire risk assessment. The Version 2 model supports the industry's drive to deliver a sustainable wildfire insurance market. Included in the new model is the latest fuel and climate data for a more accurate depiction of current wildfire risks, accounting for the impacts of multi-year droughts, improving understanding of wildfire behavior and risk, and the interplay between factors including climate change and land management practices, plus the capability to evaluate the effectiveness of #mitigation strategies in real-time such as mechanical thinning together with community and property level mitigation. Set to redefine wildfire risk modeling, the Version 2.0 model will offer invaluable insights for a broad spectrum of stakeholders. This includes (re)insurers, utilities, forest services, and government agencies, facilitating more informed decisions in rate setting, re/insurance pricing, portfolio management, and risk quantification. Read Firas's blog here: https://lnkd.in/eRgXbJnF

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California’s ever changing risk landscape can be challenging to say the least especially with limited resources. Marsh has an ecosystem to enhance your reach.

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This #NationalHeatAwareness Day, let's prioritize safety for workers in hot conditions. CNA Insurance is sharing our "Protecting Against Heat Stress Guide" to help prevent heat-related illnesses: https://ow.ly/e5bz50RQWnX

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solid advice

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My family lives in California and I have heard and seen the impact of climate on lives as well as insurance first hand. This is a great indicator of what’s to come for many regions impacted by extreme weather and why adaptation is increasingly at the forefront of discussions alongside mitigation. Extreme weather is gaining frequency, intensity and add increased value of properties being built in high risk areas - that’s the 3 pillars that goes into insurance pricing or capacity decisions! What happens when losses go up? Rates go up and if government won’t let that happen then capacity retreats. Either way it end up on the government or on consumers. My expectation is in the end - insurers will need to pick and choose who has adapted and resilience, and who isn’t. And pricing and capacity will go to these who has done climate adaptation. So start now and don’t wait. California Last-Resort Insurer Unprepared for Big Disaster

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Flood insurance claims in California soared nearly 211% in 2023, reaching an all-time high of more than $59.3 million, according to National Flood Insurance Plan (NFIP) data. And despite severe flooding and storms that caused nearly $5 billion in damages last year, the number of Californians with NFIP policies decreased in 2023. #wrightflood #weareflood

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Insurers will soon have to provide customers a clear explanation for increases in their auto and home insurance premiums at the time of renewal. This comes at a time when more and more consumers are grappling with insurance price increases and changes or loss of coverage. Beginning Saturday, companies must do so in writing if a policyholder requests it. In 2027, that information must be provided automatically and in easy-to-understand language on policy renewal notices. “If your insurance company is going to increase your premium, you have a right to know why,” Insurance Commissioner Mike Kreidler said in a statement. “Hundreds of consumers, every year, have told us they are unable to get a clear answer from their insurance company about why they’re being charged more..” #insurance #insurancepremiums #transparency #washingtonstate #consumerprotection #customerservice #premiumincreases #renewalnotices #insurancerenewals #insurancecoverage #autoinsurance #homeinsurance

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Disability insurance is a commonly offered employee benefit, but many people don’t really understand it. Celebrate #DisabilityInsuranceAwarenessMonth by checking out our Q&A and learning if short-term disability insurance is right for you!

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Retail workers increasingly face unique workplace violence challenges. Retail spaces contain very low barriers to entry by design, tensions can run high during holiday sales, and petty theft can quickly turn violent. An increasing number of workers report that they feel unsafe at work, and some Fortune 500 companies have elected to close locations in the face of increasing numbers of theft and violent incidents. Workplace Violence Training for store managers and floor associates alike will be paramount moving forward. #retail #workplaceviolence #violenceprevention https://lnkd.in/gnXg-2PS

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California faces a looming #homeinsurance crisis as major insurers like Tokio Marine and Trans Pacific exit the state, citing wildfire risks (which is odd because PG&E was the cause of the majority of wildfires in California the past 10 years and have been forced to upgrade their infrastructure amidst ALL of the lawsuits they have had against them) and rising costs. This trend leaves thousands at risk of losing coverage, with the FAIR Plan as the only option for many. But amidst this turmoil, there's an opportunity for innovators to step in and offer sustainable solutions. Californians deserve better than abandonment by insurers. Let's seize this moment to find smarter, more resilient alternatives.

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"Life insurance isn't just about the 'what ifs' – it's about securing peace of mind for you and your loved ones. In today's unpredictable world, having a robust life insurance plan is crucial. It ensures financial stability during tough times and provides a safety net for your family's future. Let's prioritize protection and peace of mind. #LifeInsurance #FinancialSecurity Schedule a Consultation to learn more at www.directinsuranceusa.com

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This week's Adjuster Hour Lineup! I encourage my active IA's to consider the following: >It's a virtual office hour. >Meet the IA manager (me- Nat), the QA reviewer (Blake), and other IAs! >Adjuster Hour is the perfect opportunity to ask questions about your claims, policy information, and estimating. >Use this time to catch up on emails while you listen in.   For those of you that are curious about our meetings: >We start promptly at 2 PM CST. >I announce updates and provide tips and essential reminders we've learned the previous day. >I will then open for general questions. >We have a 15-minute mini-training on Tuesdays. >We have guest speakers on Thursdays. The schedule will be announced each Monday. We will allow the speaker to introduce themselves and begin their session. We will not be open to questions about our claims on these days. >We conclude at 3 PM CST.   As always, Adjuster Hour is entirely voluntary. We understand everyone has their own schedule and commitments, so feel free to join whenever possible. No pressure! #IAmanager #Claims #Adjuster

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