Watch Now—Understanding The Rise of Insurance Rates
Episode 5 of Insurance Pros Spilling The Tee
Our newest podcast episode sheds light on a topic that affects customers, brokers, and carriers alike: the necessity of changes in insurance rates. While it’s understandable that fluctuating rates may not be the most popular subject, it is important for all stakeholders that funds are sufficient to meet future liabilities and defend insureds. An aggressive plaintiff’s bar and record jury awards along with inflation represent rising threats to all businesses. Embracing the necessity of rate adjustments allows us to offer robust coverage and competitive limits that can effectively protect and support individuals, families, and businesses when they need it most.
Listen as John Reid, Vice President at Quaker Special Risk Insurance – a Jencap company, and Matthew Tomlinson, Regional Vice President at Berkley Environmental, discuss this important matter.
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This information is for educational purposes only and does not constitute, and should not be construed, as an offering of advisory services, legal or insurance advice, or an offer to sell any particular insurance product or service. All content, opinions, forecasts, and viewpoints are subject to change without notice and Berkley Environmental on behalf of Berkley Insurance Company has no duty or obligation to update the information contained herein.
Please note that products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
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