New England just got pounded with one of the worst blizzards in recent memory. It was so severe that some parts of the area experienced hurricane force winds and a state of emergency was declared that prompted the deployment of the National Guard to the region to keep order and make sure people stayed safe. Less than a week later, another snow storm dumped over a foot in Massachusetts. The threat of roofs collapsing from the weight of all the accumulated snow is a real and present danger.
Like it or not, revenue and profitability in the auto segment are decelerating. Lower accident frequency, auto safety enhancements and vehicle crash avoidance features add up to fewer accidents and less risk to insure. Not to mention driver less cars on the horizon.
When it comes to risk management threats, burglary is pretty low on most insurers’ priority lists. Many carriers are more concerned about preventing catastrophic property losses, fatal motor vehicle accidents and scary liability exposures. After all, how much can a garden-variety burglary loss really cost?
Most research indicates that people who came of age in the 2000s are primarily renters and will not own property until well into their late 30s. Demographic and economic trends support this assertion. Insurers battling with finding creative ways to sell policies to Millennials — those aged 23 to 35 and sometimes called Generation Y — may need to think differently.
As the search continues to find the cause of what is now considered the most destructive fire in Colorado history, those who suffered losses are slowly going through the difficult process of assessing what little remains of their property after the devastation.