HomeHome InsuranceBig changes coming in 2023 for business and homeowners insurance | H....

Big changes coming in 2023 for business and homeowners insurance | H. Dennis Beaver | Columnists

“The fires and storms of 2022 was one of the most costly years to the insurance industry, leading to the failure of several companies across the country. Unlike, ‘What happens in Vegas stays in Vegas,’ where property insurance is concerned, what happens anywhere across the country has the potential to impact the rates that we all pay for coverage,” observes Los Angeles-based insurance broker Karl Susman.

A longtime friend of this column, Susman has been an insurance broker for over 30 years, holds a master’s degree in insurance management from Columbia University and serves as an expert witness in lawsuits involving coverage and agent mal-practice issues.

Rates Increasing, some Important Coverages being Trimmed

(1) Guest Medical Coverage:

(2) Event Insurance – Wedding Cancellation Coverage

(3) Do You Have Adequate Coverage for Jewelry?

Drugs, Minors, Illegal Substances or Acts

Practical Suggestions to Avoid Cancellation

Don’t Miss a Payment – Do What They Recommend

Increase Your Limits

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