According to the Federal Emergency Management Agency (FEMA), floods are the most common natural disasters in the United States. Since its inception in 1973, the National Flood Insurance Program (NFIP) has paid almost $40 billion in flood claims, and the losses keep mounting. In 2011 alone, damages from the Mississippi and Missouri River floods, Tropical Storm Lee, and Hurricane Irene were estimated at over $14 billion. Experts already have predicted losses of $3.53 billion for 2012. Read More.
Jay Sheehan is quoted in Business Insurance, “Data Breaches Evolve from Nuisance to Major Business Threat.
Excerpt: ”The reality about having information on the web is that someone who understands the protocols of either the software or the hardware can get in.” Read entire article in BI.
New York, NY (March 1, 2012) – Preferred Concepts, LLC (www.preferredconcepts.com), a leading national program administrator and specialty insurance broker, has appointed Georgeanna Munger, Vice President, to manage the company’s ezumbrella.com business unit.
Ms. Munger will lead ezumbrella.com’s underwriting and customer service operations. She will report to Francesca D’Angelo, Executive Vice President.
“Georgi is a seasoned underwriter with keen insight,” said D’Angelo. “She’s a great asset to our organization and a terrific resource for our customers.”
Preferred Advantage’s Jay Sheehan, discusses the need for cyber liability insurance with Jennifer Duell Popovic of Medical Office Today.
“A lot of organizations don’t budget for this type of insurance and feel they don’t have the money for it, while others believe that their balance sheet can take a hit if a breach occurs,” Sheehan says. “What they don’t realize is that the cost of mitigating a breach could seriously impair their balance sheet and maybe even put them out of business.” Read More.
It is important to remember that in a changing market, a conditional non-renewal often serves as the opening gambit of the insurance renewal process. A single carrier does not dictate the will of the insurance marketplace. The potential for competitive pricing or beneficial terms and conditions still exists. Read More.
