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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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Working from Home: Legal and Insurance Considerations

Feb 15, 2021

The historic pandemic of 2020 brought about a significant and abrupt change in how people work and conduct business. Working from home suddenly became the new normal for millions, impacting their insurance and legal exposures. Helping clients understand the implications of working from home, both as an employer and an employee, is another value-added service of the professional insurance agent…


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Online Sales, Sales Taxes during COVID and Beyond

Jan 14, 2021

f your small business customers are new to e-sales, they need to know a few things to avoid a sales tax trap. Here are some ways you can help them…


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Frozen Pipes, Don’t Leave Yourself Exposed This Winter

Dec 10, 2020

Frozen pipes continue to be one of the most prevalent issues for Insured’s and Insurers alike during the winter and early spring months. Do not leave yourself exposed to the costly repairs and damage that could result from a burst pipe. Many people tend to overlook the damage that a winter cold spell or storm can cause.


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How to Avoid Home Insurance Claims

Dec 3, 2020

One of the biggest misconceptions is that market value and replacement cost is the same. They are not the same and are estimated using different criteria & approaches to property valuation.


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Market Value vs. Replacement Cost

Nov 6, 2020

One of the biggest misconceptions is that market value and replacement cost is the same. They are not the same and are estimated using different criteria & approaches to property valuation.


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Why Buy Renters Insurance?

Oct 15, 2020

Your landlord’s property insurance won’t help you if disaster strikes. It covers the structure, but not any of your things. Renters insurance covers your belongings from all the possible bad events listed in the policy, such as fire, smoke, water damage, windstorms, lightning, theft, and vandalism. Even if you don’t think your stuff is worth that much, renters insurance is a good idea. The cost of replacing just a basic wardrobe and only a few pieces of furniture adds up quickly. Plus, renters insurance covers more than your personal belongings at home. Purchase enough insurance to replace all of your belongings, and choose a liability limit high enough to protect any savings and property you could lose if you were sued.


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Hurricane season is upon us. Do you have the right coverage?

Sep 16, 2020

Hurricane season is upon us. Do you have the right coverage? Hurricane season is in full swing, and 2020 projected to be a very active year. Most of you remember Hurricane Irene in 2011, the storm that devastated many parts of upstate New York. Most home and business owners would have never recovered if not for state or federal aid.


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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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Special Announcement | A Job Well Done and New Beginnings

Jun 2, 2020

Any job well done is more than just a paycheck. In our industry, a job well done is exemplified by taking care of your customers, policyholders, staff, and of course, family, all while being available whenever and wherever those people need help; this is our business. We restore people’s lives and help them when they often need…


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Billing & Payment Updates

May 21, 2020

Billing Addresses by Company   Claverack: Insurance Policies 104A Bracken Road Montgomery, NY 12549 Mid-Hudson: Insurance Policies 104 Bracken Road Montgomery, NY 12549 Midrox: Insurance Policies 104B Bracken Road Montgomery, NY 12549 Payment & Fees             Minimum downpayment of 25% of the premium, fire fee in full, and installment fee…


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Agents: Request for Information

Apr 29, 2020

With all the rapid & recent changes, the need for timely communication is critical. Over the past several weeks, we have seen many changes take place within our appointed agencies. We are reaching out to collect each agency’s up-to-date contact information. While we realize this may seem redundant, we want to ensure all our systems…


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DFS Approved Rate Changes – Personal Lines

Apr 22, 2020

Our rate changes are for Mid-Hudson Co-Operative Ins Co. (only)for New & Renewal Business effective 5/1/20 : Homeowners & Seasonal HO +3% on base rates only Landlord Packages: +2.5% on Base Rates only Manufactured/Mobile Homeowners: +5% on Base Rates only Moderate rate increases are statewide based on actual loss history results and trends. It is our desire to continue…


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Relationships, Retention, and Profit

Apr 17, 2020

Last week we talked about how to provide great customer service during a crisis. One of the seven points we listed was to Continue to Focus on the Customers You Already Have . Of course, that makes sense on several levels. Let’s look a little deeper. Customers have many options when it comes to meeting…


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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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How to Provide Great Customer Service During a Crisis

Apr 14, 2020

We are in a service business, and communication is always vital. During the current COVID-19 crisis, communication is critical for retaining the trust, loyalty, and business of your customers. In so many ways over the years, the insurance industry has responded well in times of crisis. We do our best to reassure and restore people’s…


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COVID-19 Economic Hardship

Mar 30, 2020

Effective: March 30, 2020 To All Policyholders of Mid-Hudson Co-Operative Insurance Company, Claverack Cooperative Insurance Company and Midrox Insurance Company on behalf of Statewide Underwriting Services. The New York State Department of Financial Services (DFS) today adopted an emergency regulation due to COVID-19. If the COVID-19 pandemic has caused economic hardship, please call or email us to…


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POLICYHOLDER NOTIFICATION COVID-19 (Coronavirus)

Mar 30, 2020

This policyholder notification is being sent at the request of the New York Department of Financial Services to all insureds that have a Businessowners’ policy, Special Multi-Peril policy, Commercial Multi-Peril policy or other commercial property insurance to inform you of how COVID-19 (Coronavirus) impacts any business interruption coverage you may have on your policy. Business…


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CE Courses Rescheduled

Mar 1, 2020

In response to the current public health threat related to the COVID-19 pandemic, Statewide Underwriting Services has cancelled previously scheduled Continuing-education courses for April & May 2020. New CE Course dates have been added and registration is available below.* DFS extends continuing-education filing deadline New York State Department of Financial Services’ licensing services is implementing temporary emergency procedures…


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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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