Tag Archives: Insurance

A New Year’s Resolution: Review Your Insurance with an Independent Agent

A New Years Resolution Review Your Insurance with an Independent Agent

As another year comes to a close, it’s time to start planning for what’s ahead in 2016. Are you looking for a New Year’s resolution that you can see all the way through? This year, make it a point to review your insurance policies with a local independent agent. A recent national survey conducted for Trusted […]

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Ride-Sharing and Car-Sharing May Not Be Worth the Risk

By Richard A. McGrath, CIC, LIA Ride-sharing services, such as Uber and Lyft, have become a popular alternative to using taxis or other means of transportation when a personal motor vehicle is unavailable. Already industry leader Uber has become so successful that the company is now valued at more than $40 billion. The success is […]

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What It Means to Work in the Insurance Industry

What It Means to Work in the Insurance Industry

What do you do for a living? Typically, the answer to this question tends to revolve around the title of our position. “I work in marketing.” “I’m an engineer.” “I work in insurance.” But, do these answers justify what we actually do for work? At our annual Employee Appreciation Luncheon, Richard McGrath, President and CEO […]

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Insurance Is Not a Commodity

By Richard A. McGrath, CIC, LIA The Internet is a great place to buy books, clothing, tools, sporting goods and other commodities. However, it may not be the best place to buy your insurance coverage because insurance is not a commodity. A commodity is a standardized product, such as grain, oil or gold.  When you buy a commodity, you […]

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Insurance Fraud Boosts Cost of Premiums

By Richard A. McGrath, CIC, LIA If not for fraud, insurance premiums would be significantly lower. Fraud accounts for about 10 percent of the property/casualty insurance industry’s incurred losses and loss adjustment expenses, which comes out to about $30 billion a year, according to the Insurance Information Institute (III). Healthcare fraud accounts for 3 percent […]

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Putting A Well-Reasoned Perspective On The Value of Insurance

By Richard A. McGrath, CIC, LIA To understand the benefit of insurance, imagine a world without insurance. Not having insurance to help you manage the risks you face every day would have a negative impact on just about every facet of your life.  Consider just a few examples: Healthcare Our healthcare system today is expensive, […]

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Who Needs An Insurance Agent?

By Richard A. McGrath, CIC, LIA We live in a do-it-yourself world, thanks to the Internet.  Consumers are buying and selling just about everything online, ranging from the simplest items to cars and even homes. But what about purchasing insurance online?  Is it a good idea to buy insurance without professional help? It would be […]

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If Your Insurance Company’s Not Financially Safe, Neither Are You

By Richard A. McGrath, CIC, LIA It’s painfully clear that the financial crisis has had an impact on your investments, but it could be having a major impact on your insurance, too, and you may not realize it. Like banks, many insurance companies have major holdings in toxic assets, such as mortgage-backed securities and auction-rate […]

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