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How Insurers Survive Catastrophic Events

Insurance coverage is all about risk, but the biggest risks, and the hardest to predict, are from natural and man-made disasters. How do insurance companies handle catastrophic insurance losses? According to Property Claim Services, a catastrophe is “an event that causes $25 million or more in insured property losses and affects a significant number of property/casualty policyholders and insurers.” There are, of course, insurance carriers, known as reinsurers, who specialize in covering catastrophic losses. Insurance companies have to pay the price for the peace of mind that they will be able to [...]

2018-12-10T15:18:44+00:00August 2nd, 2017|

Insuring Your Matrimonial Memories

Here comes the bride through a beautifully landscaped garden on the grounds of a quaint country inn. But wait! An unforeseen storm, accompanied by roaring thunder and flashes of lightning, sends everyone scurrying. The bride and that expensive gown are drenched. It’s a washout as the downpour continues unabated. It looks like Mom and Dad are going to eat the bill and forced to settle for a do-over with a Justice of the Peace Okay, so that’s an extreme example, but all kinds of things can disrupt, interrupt or destroy those few [...]

2018-12-10T15:19:13+00:00August 2nd, 2017|