/limestdp

@edgaze Some additional coverage by @PatrickTooher @thisismoney over the weekend : thisismoney.co.uk/money/markets/… It is rare that #British culture take a pejorative terms from across the Atlantic but term: #Carpetbagger did spring to mind at time of LV debacle.

Bad news from WeFox 😳

@edgaze reuters.com/business/finan… This is more a surprise, #wefox not so much

NEW EPISODE: FOLLOW THE MONEY Bill Pieroni is one of the biggest personalities I have met in insurance. Put him in a room with the passionate Ian Summers and stand back! Unmissable. LISTEN HERE: lnkd.in/eZwKYWt9 #insurance #insurancepodcast #reinsurance

@VoiceOfIns @advantagego Well now, this I am saving to tuck into over the weekend and #flagging with friends @MindFoundry @SalemCavenaugh

@andrewthornley @techUK Swap L'oreal with Regulator, quite fitting!

Things you see from the @techUK office 👀

@ClintHouck Be absolutely sure to validate the value at risk (Coverage A) and risk features at point of submission. Ignore the sum requested by producer. #toptip PS: DM me if you want to know how!

Hey #insurance peers, I have a carrier/MGA who is looking to write a large volume of home premium in FL. They believe they have a unique model to price for CAT risk. If you have or know of a high volume shop that needs a market for FL, let me know!

@bradleyflowers Great post @bradleyflowers Q: was the RCV for CovA even close to realistic/accurate or woefully under-insured when you picked it up?

Many real estate investors shoot themselves in the foot when buying coastal property. Here’s how: The insurance. If you are a real estate investor who isn’t located in a coastal region but are buying coastal property or thinking about it, this is for you. Here’s what usually happens… we have seen this over and over. You get a property under contract or you are close to getting a property under contract, apartments, single family homes, storage units, shopping centers, it doesn’t matter. You reach out to your normal “guy” that you work with. The thing is your “guy” knows a little about coastal property and likely knows that the traditional blue blood carriers aren’t going to touch it, travelers, liberty mutual, etc don’t do coastal property. Coastal typically has to go to an E&S carrier which has to be accessed by a broker. Think of the broker like this: The retail agent (your guy) is the contractor. And that contractor is buying supplies from Lowes, Home Depot, etc. (The Broker) Lowes has thousands upon thousands of products and many many divisions. So your “guy” reaches out to Lowes where he had a dedicated underwriter (the person who reaches out on his behalf to all of the carriers). Here’s the problem, his underwriter (usually dedicated) isn’t knowledgeable in the coastal market…let’s say he works in lumber and you are asking about a home and garden product. The success of finding favorable insurance terms on coastal property almost solely depends on the knowledge of the underwriter of the account. Your guy’s underwriter might know enough to be dangerous but not enough to be successful. You are probably thinking “why doesn’t he just reach out to someone who works in home and garden who’s the expert?”…. One word: commission. The underwriter makes commission as well, knows the costal property yields higher commissions and doesn’t want to refer it over to that pesky underwriter across the building. You also get into all kind of other issues with this, territories, egos, sales quotas, pride, etc. So after a week or so of trying and failing the underwriter comes back to your agent and says they don’t have a market. So your agent then goes to Home Depot, Tractor supply etc. Peppering the market. And this process happens over and over. Until your guy reaches out to you and says he can’t help. “Maybe you should try someone local to the area of the property.” You as the buyer reaches out to someone in the coastal area. Guess what we are going to do….reach out to Lowe’s, Home Depot Etc. because we have an underwriter with that broker that specializes in coastal risk and more than likely even lived in a coastal area. They understand what carriers to go to and how to persuade the carrier to give you a favorable rate. But here’s the problem. Because your local guy already went to everyone the coastal agent is blocked out as most brokers won’t allow multiple submissions from multiple agencies (this is also why shopping your commercial ins with multiple retail agents is a problem, but that’s a thread for another day) At this point, to have a coastal agent that really wants to help you, you’re going to have to totally play ball, provide agent of record change forms, apps, market lists from prior agents, etc…..it’s hard with slim chances of success. The underwriters are going to be skeptical because they show a record of this account being shopped to everyone… which in a lot of cases will make them less inclined to work as hard. Had the coastal agent been contacted first the quote would already be in hand, bound and likely be at a much better rate with better terms. I get it, the intent is pure, you are trying to be loyal to your “guy” but if you are buying property in a catastrophic prone region the BEST thing you can do is work with someone who knows that market. If this was helpful to you please pass it on and if I can help you at all my dms are open. Thanks.

@CaptiveInt @LloydsofLondon are the reported figures for LB 1+2 correct? $500M not billion!

@edgaze Give @ChrisClokeB a shout @edgaze

@edgaze Prepare to be even more amazed when you do get past the login screen @edgaze 🤣

@NBThieves I'm hopeful for @BanquetRecords will be added, perhaps with an un🔌session at a nearby ⛪

:: Leeds, Brighton and Norwich acoustic shows on sale now. Leeds: crashrecords.co.uk/products/nothi… Brighton & Norwich: hmv.com/Live/Nothing-B… ::

@stratorob @FrankeBornberg @FrankPorzberg @DiLabs_Leipzig @InsurLabDE @exec_s4s @InsurTechvc @marion_zauner @mktinth @SattlerBettina @GunnarTacke @julian_teicke @baloise_ch @maxsteinmetz86 @pkrohn1 @boris_beissner @SoerenKupke @BjoernBergfeld @KathrinDoebele Would value some #subtitles with this. Come to think of it 💡, a cool feature for @Twitter videos to have clever #translation #subtitles from any language TO any language

@FrankeBornberg Check this post! @FrankPorzberg @DiLabs_Leipzig @InsurLabDE @exec_s4s @InsurTechvc @marion_zauner @limestdp @mktinth @SattlerBettina @GunnarTacke @julian_teicke @baloise_ch @maxsteinmetz86 @pkrohn1 @boris_beissner @SoerenKupke @BjoernBergfeld @KathrinDoebele @alexsdesk

🚀 It's a game-changer! Modularity offers more flexibility and customization for the #insuranceindustry. Very excited to share with you my conversation with Michael Franke, Geschäftsführer of @FrankeBornberg. Watch the video from the #DKM interview. 👇 #Insurance #Innovation

5 years on and 100+ events later, delighted to see InsTech crew dedicating a #liveevent next week in London, ushering #Claims innovation centre stage for a share of the #InsurTech limelight (at last!!!) and with #ChatGPT on the agenda too! Look forward t…lnkd.in/eAMjuu4h

@edgaze See pics for usage. Not sure it is utilised as often as stipulated unfortunately.

@limestdp The man who knows everything. Bagsy your team on a quiz

@edgaze getting final pitch as he departs @Lloyds_Lab - signed up too! #farewellEd

Check out this article @LinkedIn : @B3i Post Mortem: Proximate Cause and Lessons Learned linkedin.com/pulse/b3i-post… #blockchain #insurance #reinsurance #DLT #insurtech #b3i #insolvency

@edgaze Have you got a #ludicrousmode on your dishwasher @edgaze ? Wishing I did following a summer #BBQ the other day.

Anyone use more than 1 setting in their dishwasher? Mine has lots of buttons which never get pressed.

@edgaze Hope you snatch a googly and have a wicket time @edgaze

At the cricket and it seems to me there’s lot of sexual innuendo in the field names There’s a mid-on, fine-leg, third-man, and I’m pretty sure there’s a lot of semi-ons 🤣

@edgaze @NeilMit42376137 @penguins @NHL Or talk to a #IceHockey player perhaps @edgaze - a Canadian 🇨🇦 one Eh!

@NeilMit42376137 @penguins @NHL Can you actually see the puck at any point in this? 😂 Maybe it’s like a sixth sense. If so, you really should play the football pools - Spot the Ball. You’d get rich!