ESG in Short-Term Property Underwriting: Which Letter Truly Matters?
By Gareth Baines, PARTNER RISK Solutions There is a conversation happening in commercial insurance that I think deserves more scrutiny than it is currently getting. ESG has arrived in underwriting, and by most accounts, it has arrived to stay. Reinsurers reference it in treaty discussions. Risk questionnaires now carry ESG scoring sections. Insurers have incorporated […]
Secondary perils: South Africa’s Hidden Insurance Risk
Large Commercial and Corporate property insurance has always contended with catastrophic events such as widespread storms, major fires, significant natural disasters, which are less frequent but result in widespread and very extensive damage and are mainly weather-related. These are also sometimes called Primary perils. In recent years however, insurers and reinsurers have fundamentally shifted focus […]
Better Insurance Placement Through Broker-Underwriter Collaboration
In commercial property insurance, brokers and underwriters share the same goal – to secure the right cover for the client, on the right terms, with clarity from the outset. Yet even with this shared purpose, there’s often a gap between what brokers expect from the commercial insurance underwriting process and what underwriters need in order […]
How AI is Transforming Commercial Property Insurance
Artificial intelligence (AI) is proving to be a game-changer in the Commercial Insurance space. For insurance brokers navigating risk management for their clients, the integration of AI into underwriting and risk assessment presents a wealth of opportunities to offer smarter, faster, and more accurate solutions. At PARTNER RISK, we are committed to embracing innovation and […]
The Los Angeles Fire Crisis: A Wake-Up Call for Businesses
The ongoing fire crisis in Los Angeles, California, USA (LA) has sparked widespread concern about the availability of fire cover in high-risk areas. Recent reports reveal that some insurers have withdrawn fire coverage in certain regions, leaving property owners and businesses vulnerable. Whilst this move has been controversial, it underscores a critical issue: businesses must […]
Why Business Interruption Insurance Matters Amid Supply Chain and Inflation Challenges
In an era of unprecedented global disruption, businesses face a perfect storm of challenges: ongoing supply chain crises, surging inflation, and economic uncertainty. These external factors have strained operations across industries, from delayed materials to escalating costs. For commercial business owners, these pressures are more than just temporary – they pose long-term risks to financial […]
Cybersecurity Risks and Their Impact on Businesses
As digital technologies revolutionise industries, businesses of all sizes are navigating a landscape where physical and digital risks increasingly intersect. From smart systems to cloud-based platforms, the adoption of advanced technologies is transforming operations across sectors. However, these innovations come with an undeniable challenge: the growing risk of cyberattacks. At PARTNER RISK, we understand the […]
Preventing Underinsurance: The Importance of Accurate Valuations
Underinsurance remains one of the most pressing risks for commercial property owners in South Africa, particularly for large-scale operations where assets can reach hundreds of millions or even billions of rand. Brokers, as trusted advisors, play a pivotal role in guiding clients through the complexities of commercial insurance, ensuring not only that their property, stock, […]
Mastering Risk Acceptances: Turning Challenges into Opportunities
Let’s face it, placing risks with underwriters can sometimes feel like navigating a minefield, especially when premiums are on the rise and insurance capacities seem to be shrinking. For brokers, the pressure is on to secure the best possible terms for clients, but this process can often be frustrating. So, how can you make the […]