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HNW Insurance Market Notes - April 2025

Tariff Knock-on Effect Citing Wall Street analysts, APCIA said the price for new cars would increase $4,000 to$15,000. About 60% of auto replacement parts come from Mexico, Canada, or China,...

Why Excess Liability (Umbrella) Coverage is Essential for Protecting Your Financial Security

Sometimes, the unexpected happens—a car accident, a slip-and-fall incident at your home, or even a lawsuit. Without the right protection, these events could put your financial security at risk....

HNW Insurance Market Notes - February 2025

Rising Tides According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers...

HNW Insurance Market Notes - January 2025

The Industry Strikes Back The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but...

2025 Insights: Navigating the Year Ahead

Navigating the Future. Protecting What Matters Most. At BCU Risk Advisors, we’re dedicated to safeguarding the legacies of successful individuals...

HNW Insurance Market Notes - December 2024

FRANKLIN FIRE – MALIBU, CAA fire near Southern California’s downtown Malibu has prompted mandatory evacuations and threatened homes and businesses, including the city’s iconic Malibu Pier. Nearby...

HNW Insurance Market Notes - November 2024

FLO NO MOProgressive said it will stop offering dwelling fire insurance, with nonrenewal notices going out as early as Nov. 19. The Mayfield, Ohio-based insurer late last week said the decision to...

HNW Insurance Market Notes - October 2024

60 MINUTESJust as Florida property insurers face another round of storm claims, CBS News has raised questions about alleged insurer fraud stemming from claims incurred in the last major storm –...

HNW Insurance Market Notes - September 2024

Flo No GrowProgressive confirmed that, yes, “Texas is one of the states in which we are temporarily restricting new homeowners business…” Progressive also has not answered my question about whether...

HNW Insurance Market Notes - August 2024

BCU Blog: The More You KnowUnderstanding the Risks of Wood Roofs: What Insurance Carriers Need you to Know! In this blog post, we'll examine the reasons behind these concerns and what homeowners...

Understanding the Risks of Wood Roofs

Understanding the Risks of Wood Roofs: What Insurance Carriers Need You to Know By: Danny McGinnis, CAPI, CPRIA Wood roofs, known for...

Preserving Peace of Mind

The Power of a Home Inventory Video Imagine this: You’ve spent years building a home filled with cherished possessions, from...

HNW Insurance Market Notes - July 2024

GETTING PREPAREDFlorida's s state-backed insurer of last resort has purchased $3.56 billion in reinsurance cover for this year's potentially devastating hurricane season.READ ARTICLE TOP OF THE...

Real-Life Claims Stories: The Importance of Comprehensive Flood Insurance

Flooding isn’t just a coastal issue; it can impact homes anywhere. From heavy rain to unexpected storms, non-coastal regions can experience severe flood damage that...

HNW Insurance Market Notes - June 2024

(UN)AFFORDABLE HOUSINGHomeowners in areas battered by climate disasters are facing dizzying insurance rate increases. But builders of housing for the homeless and other low-income families are also...

Why Should You Care About Personal Liability?

Why Should You Care About Personal Liability? First off, personal liability isn't just about having insurance; it's about protecting your assets and financial future....

HNW Insurance Market Notes - May 2024

AND TOTO TOOFollowing a chaotic swarm of twisting storms in its final week, April’s tornado count in the United States climbed to at least 300, the second-highest in the month on record.READ...

Preparing for the "What ifs"

Navigating the "What Ifs" of Travel with Chubb's Travel 365 Plan Planning a trip is like setting sail on a new adventure, full of excitement and anticipation. But what...

HNW Insurance Market Notes - April 2024

RETRENCHING CONTINUESThe California homeowners’ insurance crisis reached another critical stage this week when State Farm General Insurance announced that it would not renew policies for 72,000...

HNW Insurance Market Notes - March 2024

RETRENCHINGA year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023. The underwriting loss figure climbed to $14 billion for 2023,...

HNW Insurance Market Notes - February 2024

WAG THE DOGInsurers such as State Farm and Allstate are leaving Fire and Flood prone areas. Home values may begin to take the hit.Explore the latest CNBC insights on homeowners grappling with...

HNW Insurance Market Notes - November 2023

GOOD NEWS, HELP IS ON THE WAY…IN 2026? In September, Gov. Gavin Newsom issued an executive order for “prompt regulatory action” to address the plight of California homeowners facing availability...

HNW Insurance Market Notes - October 2023

LEADERS OF THE PACK Farmers Insurance Group of Cos. and United Services Automobile Association (USAA) have increased homeowners insurance rates by nearly 15% each to lead all other insurers….READ...

HNW Insurance Market Notes - September 2023

DONUTS FOR DOLLARS Washington lawmakers have come together to discuss the growing insurance crisis spurred by climate change-induced natural disasters and the exodus of insurers from high-risk...

HNW Insurance Market Notes - May 2023

BRACE FOR IMPACT FEMA releases new flood insurance rates by Zip Code…READ ARTICLEQUESTIONING SOCIETAL BENEFITS Chubb CEO Evan Greenberg said society and the business community need to start asking...

HNW Insurance Market Notes - April 2023

HOW HIGH CAN THEY GO? In December, as state lawmakers returned for their second special session in less than a year to deal with property insurance…READ ARTICLE'HARDEST IN A GENERATION' A...

HNW Insurance Market Notes - March 2023

STATE FARM RECORDS LARGEST LOSS IN COMPANY HISTORY Late last year, State Farm’s chief executive broke the news that the auto giant would record the largest underwriting loss…READ ARTICLEBREAKING...

Sorry, America, Your Insurance Has Been Cancelled

IntroductionOn March 24, 1986, Time Magazine’s cover article was titled “Sorry, America, Your Insurance Has Been Cancelled.” The article referenced the collapse of the U.S. commercial liability...

Florida Market Update

Citizens Insurance company is commonly positioned as offering the “home insurance policy of last resort” in Florida. Premiums can appear competitive; however, policy benefits are limited and...

BCU Risk Advisors, LLC, Announces the Promotion of Chelsey Rabalais to Partner

CHICAGO, Apr. 18, 2022 – BCU Risk Advisors, LLC, an independent insurance consulting and brokerage firm providing ‘Family Office Risk Management Services’ to families and Family Offices throughout...

The Relationship Between Social Inflation and Personal Liability Exposure

Stories such as these are likely more common than you think. According to Jury Verdict Research’s, Current Award Trends in Personal Injury, 54 th Edition (2015), the percentage of personal injury...

A Hidden Risk That Could Crack a Nest Egg

ADVISORS DON'T HAVE TO BE INSURANCE EXPERTS TO PROTECT THEIR CLIENTS FROM THE RISK OF PROPERTY-RELATED LOSSES.Volatility in the stock market is a reminder that thoughtful advisors can help their...

What You and Your Clients Need to Do About the Equifax Breach

If you have a credit report, chances are you’re one of the 143 million American consumers whose sensitive personal information was exposed due to the data breach at Equifax.According to Equifax,...

BCU Establishes 24 Hour Emergency Hotline for IRMA Victims

In preparation for Hurricane IRMA’s foretasted arrival in south Florida early Sunday morning, BCU has established a 24 hour Emergency Response Unit for clients affected by the storm. BCU has...

Non-Profit D&O Liability – The “Do Gooder” Risk

Serving on the board as a director or officer for a non-profit organization is often an altruistic action that many of us accept because it feels good to passionately support a cause that we...

2017 South Florida Home Insurance Rate Filing Update

In follow up to our June update, August finds the Florida homeowners market, both in terms of capacity and pricing, under continued pressure. The top 5 carriers in the state, based upon number of...

BCU Risk Advisors Continues Expansion in Family Office/Western States

BCU Risk Advisors, the nation’s leading independent insurance consulting boutique for Family Office and Multi-Family Office clients, today announced the hiring of Kerry Shapiro and the opening of...

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