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Koru Korner covers the stories, people, topics, and risks that are essential to risk management and commercial insurance. With articles, analysis, interviews and features, Koru Korner strives to deliver the market intelligence clients and insurance professionals need to improve their business.

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Article

Artemis Update: AM Best has upgraded its outlook on the global reinsurance sector from stable to positive for the first time in over a decade, highlighting robust profit margins and improved underwriting conditions. The rating agency now views insurance-linked securities (ILS) as strategic partners rather than competitors, emphasizing their role in supporting traditional reinsurers. Despite a deceleration in reinsurance pricing, AM Best notes that underwriting discipline and healthy profit margins are expected to be maintained.

June 10, 2024

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 MINUTES TO READ

What to Expect When Applying for Cyber Insurance

Every insurance policy starts with an application, and cyber liability insurance is no different. However, cyber applications are not standard and can be complex. The objective of this article is to help alleviate some of that complexity and provide guidance for insureds filling out a cyber application.

Cyber & Network Security Liability Insurance

Addressing Workers’ Refusal to Return to the Office

Many employers have instructed employees to return to the office, either full time or for a specified number of days per week. Despite employers’ efforts, many employees have refused to return to in-office work.

General Business

Mitigating Risks and Ensuring Success: The Crucial Role of Insurance for Private Equity Companies

In the dynamic world of private equity, where opportunities and challenges abound, the importance of comprehensive insurance strategies cannot be overstated.

General Business
Errors & Omissions Insurance
Professional Liability Insurance
Directors & Officers' Liability Insurance

When to Opt for D&O Insurance: A Business Guide for Timing and Necessity

D&O insurance is a type of liability insurance covering directors and officers of a company, or the organization itself, for claims made against them while serving on a board of directors and/or as an officer.

Directors & Officers' Liability Insurance

Property Management Professional Liability Insurance

Property managers wear many different hats in the course of their jobs. In addition to overseeing the maintenance, security and overall welfare of the properties they manage, at times they may also function as leasing agents, real estate agents, appraisers, consultants or construction managers.

General Business
Errors & Omissions Insurance
Professional Liability Insurance

Loss Control Tips: Residential Property Management Companies

Managing a property—whether it be an apartment, condominium or similar dwelling—can be a challenge, particularly from a risk management standpoint.

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Collective Coverage: Unpacking Insurance Risk Purchasing Groups

The intricate field of insurance is often challenging for businesses to navigate. The emergence of Insurance Risk Purchasing Group (IRPG) or more commonly known as Risk Purchasing Group (RPG) offers a collaborative approach for organizations to streamline their insurance procurement processes.

Captives and Self-insurance
General Business
General Liability Insurance
Transit and Cargo Insurance
Commercial Auto Liability and Fleet Management Insurance

Navigating Risk: When to Consider Forming Your Own Insurance Captive

In the ever-evolving landscape of risk management, companies often seek innovative solutions to optimize their insurance strategies. One such strategy gaining traction among organizations is the formation of an insurance captive.

Captives and Self-insurance

Unveiling the Mysteries: The Fibonacci Sequence and its Connection to the Koru Fern Spiral

Nature has always been a treasure trove of mathematical wonders, with patterns and symmetries that captivate and inspire human curiosity.

General Business

Protecting Vacant Real Estate Property

In a time when layoffs and foreclosures are widespread, your firm may be forced to manage vacant real estate. The insurance risks and liabilities associated with owning vacant property can be extensive, and to ensure you are adequately protected, it is important to know these risks.

Commercial Property Insurance
Article

ILS: Transforming from Competitor to Strategic Partner, Elevating the Reinsurance Sector to New Heights

Artemis Update: AM Best has upgraded its outlook on the global reinsurance sector from stable to positive for the first time in over a decade, highlighting robust profit margins and improved underwriting conditions. The rating agency now views insurance-linked securities (ILS) as strategic partners rather than competitors, emphasizing their role in supporting traditional reinsurers. Despite a deceleration in reinsurance pricing, AM Best notes that underwriting discipline and healthy profit margins are expected to be maintained.

Article

May to Break Another Cat Bond Record: Biggest Month of Issuance Ever

Exciting news in the world of finance and risk management! May is set to break records as the biggest month of catastrophe bond issuance ever. According to a recent article from Artemis, the market is experiencing unprecedented growth, highlighting the increasing demand for innovative risk transfer solutions.

Article

The Rising Importance of Professional Liability Insurance for Legal Professionals

In an era where legal malpractice claims are on the rise and the intricacies of law become ever more complex, it’s essential for legal professionals to ensure they are well-protected with professional liability insurance. Our latest article explores the increasing importance of this coverage, particularly focusing on California, where specific types of malpractice claims like negligence and misrepresentation are most prevalent.

Article

An Abbreviated History of Cyber Insurance - The First 25 Years

Michael A. Rossi, Esq. details the first 25 years of cyber insurance.

Article

Cyber Insurance Analytics Summary

Business Insurance Magazine's Cyber Insurance Analytics Summary. Focusing on the market and losses.

Article

2023 Habitational State of the Market – Casualty

The habitational insurance market is facing a multitude of hurdles when it comes to casualty placements. Casualty markets in the habitational space have been adjusting prices due to increased loss activity and the continued impact of social inflation. Within this landscape, property owners, insurance companies, and brokers are confronted with a new reality. There are few markets offering General Liability (GL) coverage. It’s also difficult to find markets willing to participate in the lead $5M of excess coverage, making the marketplace even more challenging. To succeed in this demanding market, one must strike a careful balance between innovation, robust risk assessment, and adaptability.

Article

Long-Term View Important for Senior Living Marketplace

Senior living facilities remain under pressure from rising costs and staff shortages. Some are looking to reduce expenses through alternative liability insurance. New market entrants may offer lower prices, but is a new carrier the right solution over the long-term?

Article

January 2024 Property Renewal Pricing Analysis and Trends

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients.

Article

January 2024 Cyber Renewal Pricing Analysis and Trends

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients

Article

January 2024 E & O Renewal Pricing Analysis and Trends

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients.

Article

January 2024 Private D & O Renewal Pricing Analysis and Trends

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients.

Article

January 2024 Excess and Umbrella Renewal Pricing Analysis and Trends

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients.

Article

A Guide to California Landlord Insurance

Owning property in California's stunning landscapes comes with its set of challenges. Landlords must contend with areas vulnerable to wildfires, flood-prone coastal zones, and cities that are earthquake hotspots. These natural disasters carry an element of unpredictability, potentially leading to significant financial losses without proper preparation.

Article

Kevin LaCroix: The Top Ten Stories in D&O of 2023

The directors’ and officers’ liability environment is always changing, but 2023 was a particularly eventful year, with important consequences for the D&O insurance marketplace. The past year’s many developments also have significant implications for what may lie ahead in 2024 – and possibly for years to come.

Article

IRMI: Contractor's Professional Liability—The Products Liability Exclusion

Each year, contractors face an increasingly diverse array of exposures and a growing list of options for managing those exposures. A common solution is the transfer of risk via a portfolio of insurance products—but coordinating the purchase of multiple insurance products is often complicated by the inconsistency in coverage terms between different insurers. This is especially true of professional liability policies.

Article

ILS funds are best performing hedge funds of 2023: Preqin

At a time when assets under management (AUM) have been climbing across alternative investment strategies and investors are carefully assessing their allocations and attracted to diversifying assets, the insurance-linked securities (ILS) niche has come out as top performer of the hedge fund world, Preqin has said.

Article

Amwins: State of the Market Report 2024

As we kick off 2024, the insurance marketplace continues to experience many of the same highs and lows we encountered in 2023. Some markets are less challenging than others, with a competitive rate environment and more favorable underwriting, while others grapple with one of the most demanding markets we’ve ever seen. While this report is meant to take a high-level snapshot of these conditions, we face the challenge of capturing an ever-evolving marketplace.

Article

2024 Commercial Insurance Market Outlook

Over the last five years, the commercial insurance sector has been contending with a hard marketplace, thus posing difficult conditions for insurance buyers. These conditions were brought on by a variety of factors that motivated many insurance carriers to reassess their positions in the industry. Rest assured, Koru Risk Management is here to provide the risk management solutions and coverage expertise your business needs.

Article

2023 Property Risk Management Report

What do over 150 risk managers with portfolios of $100M+ in TIV think of the commercial property risk management landscape? This third annual report outlines their thoughts.

News

Challenging Insurance Market: Time to Consider a Captive?

With insurance carriers cutting capacity and substantially increasing premiums, insurance buyers are considering alternatives to their traditional risk management programs. Insurance captives are one of the more popular alternatives to consider, although they are not right for every insurance buyer. The following reasons have contributed to the increased popularity of captives.

Article

Amwins: State of the Market Report - Real Estate

Through September 2023, there have been 24 confirmed weather or climate disaster events in the US with losses exceeding $1 billion. This puts the U.S. on pace to exceed any prior annual record number of billion-dollar disaster events.

News

2023 Cyber Report

Over the past three years the cyber insurance market has experienced both unprecedented growth and substantial changes to its underwriting approach in an effort to respond to the changing cyber threat landscape. This report summarized the important issues and path ahead.

Article

Navigating the Employee Benefits Landscape in 2023: Top 5 Challenges for Employers

As we step into 2023, employers are facing a rapidly evolving landscape when it comes to offering employee benefits. The global pandemic has accelerated shifts in workplace dynamics, healthcare, and employee expectations. In this article, we'll explore the top five challenges that employers are likely to encounter when offering employee benefits in 2023.

Article

Understanding the Differences and Overlaps of Cyber and D&O Insurance

Cyber and Directors & Officers (D&O) insurance are essential tools for mitigating liability, each offering unique and sometimes intersecting protections. Cyber insurance safeguards businesses from various cyber-related risks, while D&O insurance shields corporate leaders and, at times, the company itself, from claims linked to alleged misconduct indecision-making and management.

Article

The Influence of Changing Factors on Senior Living and Long-Term Care Facilities

Senior living and long-term care facilities (aka communities) are subject to various factors that continually evolve and impact their operations.

Article

Facing Turbulence: The Challenges of Renewing Commercial Hull Insurance for Airplane Owners

For airplane owners, the skies aren't always clear. One particular cloud that often looms is the renewal of commercial hull insurance. While this insurance serves as a vital safety net, protecting the physical structure of the aircraft, the renewal process can often be as challenging as navigating through a storm. This article aims to shed light on the complexities airplane owners face during the renewal phase of commercial hull insurance.

Article

Navigating Pitfalls: Common Challenges When Filing Section 125 Reporting

Section 125, also known as a cafeteria plan, provides employers and employees with valuable tax advantages for offering and participating in certain employee benefit programs. While these plans can be highly beneficial, they come with complex reporting requirements that, if not handled correctly, can lead to costly pitfalls for companies. In this article, we'll delve into the potential challenges that companies may face when filing Section 125 reporting.

Article

Employee Benefits: The Cornerstone of Attracting and Retaining Talented Employees

In the competitive landscape of today's job market, attracting and retaining top talent is a mission-critical objective for businesses of all sizes and industries. Beyond just competitive salaries, employees are increasingly considering the comprehensive benefits package offered by potential employers when making career decisions. In this article, we will explore why employee benefits are not just an added perk but a crucial factor in hiring and retaining talented employees.

Article

Recent Changes to COBRA: What Employers Need to Know

The Consolidated Omnibus Budget Reconciliation Act (COBRA) has been a fundamental piece of legislation in the United States, ensuring that employees have the option to continue their employer-sponsored health coverage after certain qualifying events. In recent times, several significant changes have been made to COBRA that impact both employers and employees. In this article, we'll explore these recent changes and discuss what employers need to know.

Article

Long-Term Care Facilities: 8 Recommended Insurance Policies

Senior living and long-term care facilities respond to many patients’ needs. However, these properties are still a business at the end of the day.

Article

Property and Casualty Insurance Market Update

For several consecutive quarters, reinsurance costs have increased, and capacity has diminished, making 1-1-23 renewals very difficult for insurers.

Article

Trends Impacting Commercial Insurance Costs

Recent market developments have demonstrated signs of an improving commercial insurance landscape.

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