PERSONAL INSURANCE UPDATES
Challenges remain for ultra-high-value homes and high-profile liability risks, but overall conditions are improving in both admitted and E&S markets.
Advanced CAT models favor newer, risk-mitigated homes in exposed areas, supporting sustainable pricing and profitability.
“Technology is a central consideration for brokers and agents managing their portfolios. Carriers and wholesalers are using advanced modeling to manage geographic concentration of risk across wildfire, convective storm, flood, and coastal exposures. This helps reduce surprise loss accumulation.
Bill Gatewood
Executive Vice President Personal Insurance
Burns
& Wilcox
Detroit/Farmington Hills, MI
SOLUTION
SPOTLIGHT: PARAMETRIC FLOOD INSURANCE
As flood risk increases and deductibles rise, Parametric Insurance helps manage exposure. Pays out when a predefined trigger is met (e.g., measured water levels), delivering faster, more certain payment. Commonly used to offset or buy down Flood deductibles in CAT-exposed areas.
Burns & Wilcox, the largest Flood provider in the E&S marketplace, recently launched a new exclusive Parametric Flood solution.
Available across commercial property, cannabis, transportation, hospitality, and municipalities.
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