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Refunds for Business Entities

Jul 1, 2022

When binding a policy under a business entity name, please use a bank account associated with the entity to ensure that you can deposit a check as the payee. The bound entity name on the policy is the same name that a refund will be issued to. An incorrect theory regarding issuing refund checks, the…

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The Hard Market Cycle Change: A Primer On What It Is & What To Do About It

Feb 18, 2021

Many factors and variables are driving the change in cycles. They include Available investment capital, investment returns, cash flow, claim losses- especially large CAT events, claim costs, underwriting standards, and most certainly reinsurance cost and availability. When several of these factors begin to align together, they trigger a change in the cycle. Over the past several months, we have started to see the cycle change to a hard market for property and casualty business lines. Every insurance company is having negotiations with their reinsurers and pricing is increasing like many other
product insurances that are subject to supply and demand. The cost is then passed on to the retail consumer, our policyholder.

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SWUS Quarterly Newsletter | Fall 2020

Dec 9, 2020

First, I hope you, your family, and your staff are safe and doing well both physically and mentally. We all have come to realize that managing our personal and business lives through COVID-19 is a multi-faceted challenge, and we accept that changes can and will occur daily. Indeed, this experience is proving to be a…

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SWUS Quarterly Newsletter | Summer 2020

Jul 1, 2020

I hope you are well and safe. The past three months have certainly been unique in our personal and business lives. By the time you read this, the Empire State should be well on its way to re-opening for business, according to the NY Forward Plan. So many things have changed. Some of those changes…

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SWUS Quarterly Newsletter | Spring 2020

Apr 15, 2020

It’s a new year with new opportunities, and we are looking forward to what else 2020 has in store. Living and working in the property and casualty insurance industry in New York State can prove to be challenging during the winter months. The annual ritual is that we, like many companies, tend to lose money…

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SWUS Quarterly Newsletter | Winter 2019

Feb 15, 2020

I hope you are well and are looking forward to the promises of the new year!As 2019 comes to a rapid close, it’s an ideal time to do some self-assessment in the hopes of uncovering opportunities for personaland professional growth. Here at Statewide Underwriting Services we try to work and live by our core values……

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