David Morales

Hurricane Preparedness

Hurricane Preparedness Week (May 15-21) has flown by. It’s a good time—especially for coastal residents—to think about how to prepare for a land-falling tropical storm or hurricane. For insurance carriers, the week is also a good time to prepare for and evaluate their exposure, since the majority of reinsurance catastrophe covers are up for renewal July 1. Now is the time to plan.

David Morales

That’s a Wrap!

Insurance industry veterans know that accounting staff responsible for preparing a carrier’s annual statement draw a sigh of relief after March 1, the deadline for filing. Many of them face a year-end crunch of manually assembling information from different places, systems, and spreadsheets. There’s also a scramble to secure Schedule F funding, in forms of letters of credit, trust fund and other collateral. The scramble for reducing or eliminating the Schedule F penalty is paramount.