On March 18th a transportation network company’s (TNC) self-driving car hit and killed a woman in Arizona. This crash brings up insurance questions similar to those generated by the December 31, 2013 fatal accident that first brought the issue of ridesharing and insurance into the spotlight. Transportation network companies wanted personal insurers to cover the exposure, but insurance industry trade groups believed commercial insurance should apply from app on to app off. This led insurance trade groups, insurers and TNCs to develop a compromise model bill. Since then, 48 states and the District of Columbia  have enacted TNC legislation. It also prompted insurers to create new products for TNC drivers.

I’ve been known to frequent Europe on a regular basis and even have an app on my phone that tracks the places I’ve visited. I enjoy seeing the world’s major cities and indulging in the regional cuisine. A very popular Polish dish is the pierogi – a dumpling filled with a variety of vegetables or meat. You can even fill one with blueberries for dessert.

Holiday shopping season is here, and so are all the deals. Psychological pricing strategies are implemented in transactions running the gamut from consumer goods to real estate and insurance. Buyers’ perceptions of value can be affected simply by the way a price or discount is presented. 

Pinnacle has enjoyed a highly successful 2017. We have added ten new full-time employees this year and now have 28 credentialed actuaries on staff, with another two actuarial analysts anticipating earning their Associate credential of the Casualty Actuarial Society (CAS) in the spring of 2018. 

Following major hurricane losses, the insurance industry responded on several levels. It built sophisticated models to better predict and mitigate resulting losses. It actively supported regulations and building codes to ensure more durable building materials and processes. It created windstorm pools to share the cost of essentially uninsurable risks in the eyes of the private market, to name just a few changes.