07/29/2024
Sustainability, Bleacher Safety, Work Comp Insurance and More
We know you need the latest buzz in the insurance realm, and as always, we’ve got you covered! From work comp insurance to New Energy Risk’s sustainability efforts, here’s your concise roundup of the past month’s Paragon and industry highlights.
Insurance can drive sustainability?
It sure can with the bright minds at Paragon’s New Energy Risk division. Highlighted in their 2023 sustainability report, NER offers performance insurance that aids sustainability, new and emerging energy projects, and innovative technology. This helps with capital funding to fuel these projects promoting a better, more sustainable society across the globe.
School is coming, ever think about bleacher safety?
Trident Public Risk Solutions does. Quite a bit actually. As concert venues, stadiums, schools and recreation departments across the country gear up for sports and entertainment, Trident’s experts weigh in on the rights and wrongs of keeping bleachers safe. Bleachers are a staple in public venues and schools everywhere, offering seating solutions for spectators and participants alike. Baseball fields, football stadiums, school auditoriums, school gyms – indeed, wherever you find people, you’ll surely find bleachers. Yet, despite their ubiquity, bleacher safety measures are commonly neglected. Inspections and maintenance are crucial to the reduction of injury risks for both indoor and outdoor bleachers. Read more on bleacher or ask risk control directy.
Now for some industry news…
Growth in the MGA space
A hard market and increased underwriting capacity combined to fuel strong growth in the MGA market last year, according to Conning‘s latest study. Furthermore, employees are leaving traditional insurers for MGAs, drawn over by the lure of their entrepreneurial spirit, start-up excitement, equity incentives and flexible remote work options. The report projects that MGAs’ niche specializations and market growth will continue to outpace the P&C market. Read the full story.
Tech investments into risk management
Bain & Company found that only 5-10% of insurance companies are extracting value from their tech investments, even though there’s a big competitive edge to be gained. The report highlights the need for tech leadership to achieve premium growth, cut expense ratio and boost customer loyalty. Modernizing systems and effectively using data are key for insurers to provide risk mitigation/prevention amid rising climate and cyber threats. Read the full story.
Work Comp Insurnace Program
With over 20 years of combined experience and knowledge, Paragon’s Workers’ Compensation division is your go-to partner. By utilizing class-fit service, we provide real value to our clients by giving each submission the attention it deserves. Our underwriters understand the unique needs of the toughest industries. We write on a nationwide basis, and with capacity for risks of all sizes. We work at the speed of your business:
- Transportation
- Waste Hauling
- Healthcare
- Agriculture
- And much, much more
Coverage changes ahead of election drama?
In the wake of pro-Palestine protests at more than 100 college campus across the United States and, of course, the attempted assassination of former President Donald Trump, the run-up to the November election promises to spark even further unrest. With that, Gallagher, in a new report, urges the insurance industry to take a good, hard look at coverage and risk mitigation. Read the full story.
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