Posts in April 2021

Time to Get Uncomfortable: Addressing Diversity & Inclusion in Insurance

Blog | 0 comments | by Nate

True progress in promoting diversity and inclusion in insurance will require a departure from the “safety” of comfortable silos.

By: Kiara Taylor | April 16, 2021

The events of the last year have brought an increased emphasis on diversity and inclusion within the commercial insurance industry.

Some of these events have been strikingly visible, such as the widespread protests that followed the death of unarmed Black men. Others, such as the disproportionate effect that the COVID-19 pandemic has had on ethnic and racial minorities in the U.S., have remained largely invisible.

Insurance cannot expect to solve these issues alone, of course, but neither can it lag behind when it comes to tackling social injustice. Indeed, as professionals many of us feel that we have a responsibility to use our knowledge, experience and influence to work for a better society.

Risk & Insurance®, as an affiliate of The Institutes, is committed to moving things forward.

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FEMA unveils first flood insurance update in 50 years

Blog | 0 comments | by Nate

While most homeowners will see lower premiums, others will face higher rates under the NFIP’s long-awaited new system.

(Bloomberg) — On Friday, April 2, the Federal Emergency Management Agency unveiled the details of an overhaul to its beleaguered National Flood Insurance Program, the initiative’s first major update in 50 years. Most homeowners in the program will have lower or stable premiums, but roughly 11% of homes — largely the highest value ones — will see increases in premiums of at least $10 a month. Those could continue to rise until they reach a cap of $12,000 a year.

The NFIP serves roughly 5 million homes, most of which are in high-risk flood areas. Premiums have risen steadily over the years, and yet the program is more than $20 billion in debt, in part because of climate change-related phenomena such as sea-level rise and increased storms and heavy precipitation events, which lead to more intense and more widespread flooding.

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Five insurance mistakes to avoid… (and still save money)

Blog | 0 comments | by Nate

Avoid these common mistakes and you’re on your way to getting the best insurance for your needs and budget

Avoid these pitfalls when buying auto, home, flood and renters insurance.


Saving money feels good. And shopping around when you’re looking for insurance coverage is a great way to do it. However, simply reducing your coverage or dropping important coverages altogether is like diet without exercise—focused only on numbers, not on results. Don’t risk ending up dangerously underinsured and on the hook for much bigger bills in the event of a disaster.

Following are the five most common auto, home, flood and renters insurance mistakes people make, along with suggestions to avert those pitfalls while still saving money (we call them, “better ways to save”):

1. Insuring a home for its real estate value rather than for the cost of rebuilding.

When real estate prices go down, some homeowners may think they can reduce the amount of insurance on their home.

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