Better Prepared. More Secure.

Denise Gillin Insurance, News

Our focus is always on the commitment we made to our clients when Murray was founded over 90 years ago: to provide smart solutions to help our clients be better prepared and more secure. This is more than just a phrase to us. It represents our ability to give clients a strategic advantage to anticipate and prepare for future challenges, opportunities, and growth. Today we honor our client commitment in a new and dynamic way. After careful and deliberate evaluation, we entered into an agreement with a national partnership of leading independent property and casualty and employee benefits brokerage firms, AssuredPartners, one of the largest brokers in the nation. Being a part of a national firm further enhances our advantage …

Understanding the Property and Inland Marine Coinsurance Clause

Denise Gillin Agribusiness

By Gina Ekstam for AssuredPartners A “coinsurance clause/condition” is found in many commercial insurance policies, but the term “coinsurance” is often a difficult concept to understand. Coinsurance is referenced in property and inland marine coverage, as well as health insurance, but its use is entirely different depending on the context. For this purpose, the focus will be as it relates to property and inland marine coverage. The coinsurance clause is an “insurance to value clause” for the policy holder. Because of the insurance mechanism of pooling collected premium dollars to pay for future losses in the insurance industry, the purpose of the coinsurance clause is to create fairness in premiums among policy holders. Keep reading>>>

The Big Quit: Why Mid-Sized Company Leaders are Concerned with the Ballooning Talent Shortage

Denise Gillin News, Risk Management, Workers' Compensation

By Lucas Prahl for Risk&Insurance The Great Resignation, also known as The Big Quit, is one of 2021’s greatest challenges for companies of all sizes. In September 2021 alone, 4.4 million employees quit their jobs, up from 3.3 million in September 2020, according to the Bureau of Labor Statistics. In the hot labor market, employees are leaving for better jobs or bowing out of the workforce for a variety of factors, many related to the pandemic. This trend is especially troubling for mid-sized company leaders, a group that a new survey from QBE revealed already had a lot to worry about when it comes to their employees. Tell me more>>>

Insureds Should Be Prepared for Complex Renewals

Denise Gillin Insurance, News

By Emma Brenner for Risk & Insurance In a world that continues to be with unexpected risks, it’s no surprise that insurance markets also experience the same ups and downs. Last year was the most chaotic insurance market the casualty space has seen in the last 30 years. Marked by dwindling capacity, rate increases and non-renewals, the year was a whirlwind for insureds and insurers alike. 2021 is proving to be only somewhat less chaotic. Risk Placement Services’ “U.S. Casualty Market Outlook: Mid-Year 2021” report detailed the trends in the casualty market during the first half of the year and how carriers can craft successful responses for the risks that lie ahead. Key Takeaways>>>

2022 and new beginning concept, hand show icon global network line, growth plan for business.

Top 10 Technology and Business Trends of 2022

Denise Gillin News

By Anis Uzzaman, General Partner and CEO, Pegasus Tech Ventures for Inc.com The impact of Covid-19 continues to be felt as several technologies are poised to pick up steam in the new year. As Covid-19 vaccinations increase globally, life is getting back to normal. However, it’s no longer the world we experienced before the pandemic. The long-term nature of this global crisis has changed customer needs and daily lifestyles. This will, in turn, change what I expect the world to look like in 2022 and beyond. Let’s review the top 10 technology and business trends that we’ll likely encounter in the coming year. Click for more information>>>

Not Your Average Bond

Denise Gillin Bonds, Risk Management

By Lynne W. Cook for AssuredPartners Ironically, there are thousands of surety bonds, but most people are unfamiliar with this three-party agreement that is designed to guarantee a principal’s (the #1 party, which is likely you or your business) integrity, honesty, performance, and financial responsibility, as well as compliance with a law or contract. So, who are the other two parties involved in this three-party agreement and what is it that requires I get a bond? Here are a few of the more common situations that use commercial surety bonds to lessen the risk of loss to the obligee (the #2 party, who is requiring the bond) by the third-party guarantor (the # 3 party, which is a corporate surety …

Addressing the Ag Industry’s Supply Chain Challenges

Denise Gillin Agribusiness, News, Risk Management

By Gina Ekstam for AssuredPartners Weather, geopolitics, structural issues, consumer demand, and labor shortages represent just some of the many issues working together to compound the global supply chain problem for the ag industry. This confluence of factors has made it difficult to move product, contributing to supply chain inflation and concerns about food security. Supply chain problems are likely to stick around for the foreseeable future and addressing them will take time. To protect your agribusiness, you must understand what makes your operation vulnerable and look for opportunities to do things differently. Click here for resilience-building measures>>>

Holiday Decorating Safety Tips

Denise Gillin Risk Management

By Reginald Shubert, Senior Risk Control Consultant, Murray The Holiday season is upon us, and it’s a great time for parties with family, friends, and coworkers.  As the song goes, it’s time to “deck those halls and trim those trees,” but, you don’t have to be Clark Griswald and overdo your holiday decorations. Not only can it be a little tacky, it can also lead to an unsafe environment in your home or office. Seasonal decorations, including lights, trees, and wreaths can help put your home or office in the holiday spirit. However, when not displayed properly, decorations can create safety hazards or cause fires.  According to the National Fire Protection Association, electrical distribution or lighting equipment was involved in 43% of …

Best Report Finds Captives Continuing To Outperform Commercial Market

Denise Gillin Alternative Risk

Copyright © 2021 A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. Shared from Captive.com Despite the impacts of the COVID-19 pandemic, rated captive insurance companies in Bermuda, the Cayman Islands, and Barbados continue to outperform US commercial casualty insurers, according to A.M. Best. A Best’s Market Segment Report, “Rated BCIB Captives Continue Strong Performance in Comparison to Commercial Casualty Composite,” suggests that captives in the three domiciles outperform the US commercial casualty composite on underwriting and operating profitability. Despite the pandemic and the addition of new risks as a result of the hardening commercial insurance market, the group of captive insurance companies saw net earned premium growth of 11 percent in 2020, Best said. Read more>>>

Five Misconceptions About Life Insurance

Denise Gillin Life Insurance

By Scott Toombs for AssuredPartners Regardless of age, it’s natural to think about what is ahead as we enter the holiday season and get ready to turn the calendar to a new year. One of the topics that is often reviewed at this time is making sure family is protected at the time of the passing of a loved one with life insurance. While life insurance is extremely important, there are misconceptions associated with it that many need clarification on. Click to learn the 5 misconceptions>>>   Contact Todd Geist at 570.590.3388 to discuss your life insurance needs.

Seven Manufacturing Trends for 2022

Denise Gillin Manufacturing

Shared from Wolters Kluwer To stay one step ahead of industry trends and keep pace with the competition, technology innovation has taken a front seat. But manufacturers must also remain agile and find ways to rapidly respond to customer demand. Given this, here are seven key manufacturing trends to watch for. Onshore instead of offshore Shifting from B2B to B2C Additive manufacturing (3D printing) Predictive maintenance Increased automation Securing talent for the new workplace Sustainability For more details>>>