Chris Burgio

Press Release: Prime Insurance Introduces the TRU Solution for Reliable Coverage in Times of Crisis In the aftermath of recent storms and wildfires, policyholders need an insurance partner they can trust to provide comprehensive and straightforward coverage. Prime Insurance is proud to introduce the TRU Solution—designed to offer peace of mind through transparent, all-in-one coverage that responds when it matters most. Unlike policies that require separate coverage for risks like floods or earthquakes, Prime Insurance’s TRU Solution simplifies protection. Our approach ensures that customers know what to expect before a claim arises, with clear terms and prompt, fair service. We’re here to support our clients in both good times and bad, so they feel confident and protected. "Even my own son, Parker once thought our quote was too high, but when a wildfire came near, he realized how invaluable that coverage truly is," says Rick J. Lindsey, CEO of Prime Insurance. Prime Insurance stands by its clients, providing reliable, straightforward solutions. For more information on the TRU Solution and how XINSURANCE can meet your needs, contact us today. Contact Information: Agents : [email protected] Homeowners [email protected]

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Cyber incidents can happen at any time. Are you ready? Join Marsh McLennan Agency's webinar on November 14, at 12:00 pm, ET to explore the critical aspects of incident management. Learn how to prepare, practice, and respond effectively to safeguard your organization. https://bit.ly/3YQepUc #CyberSecurity #Risks #MarshMMA

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Zurich North America always puts a high priority on offering valuable content for #hurricaneseason. Read more on preparedness steps for a #hurricane Emergency Response Plan here. https://lnkd.in/ggSJwKfr   #SevereWeather #HurricaneSeason #HurricaneBeryl

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Good meeting in San Deigo Headed to Florida to help where possible. Insured by Xinsurance or Prime Insurance Company, we can work with you during your down time after and event or claim. Pause your insurance payments and extend your coverage for the number of days you are working to get back up and running. TRU insurance VS Fake insurance we are partners here with Solutions during your toughest challenges. Insurance should make event less painful! Xinsurance

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This morning, many of us woke up and checked on our families, friends and loved ones impacted by Hurricane Milton. Many of us also woke up to an emergency rule issued by Jimmy Patronis regarding enhanced transparency for all claims professionals as we begin to serve Floridians in the aftermath of Hurricane Milton. When I read the rule, I couldn’t help but understand the spirit of this ruling, which is to remind every claims professionals of our “why”. Why do we do this? Our “why” is service. To serve all who are impacted by this devastating event. A key component of service is trust. We must build trust with our customers, from FNOL to settlement, and every step in between. Trust is not something that is given. Trust is earned. Trust is built one step at a time. From first contact. To investigation. To settlement. We build trust through transparency in what we do. We build trust by taking accountability for our work. We build trust by guiding our policyholders through the claims process. And we build trust through empathy, care and compassion. As well all begin the recovery process, remember the “why” Be the silver lining.

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While Hurricane Beryl does not appear to be a threat to Florida’s coastline, this is a great reminder that hurricane season is here. Learn how to proactively prepare to keep your business, employees and yourself safe with USI’s Hurricane and Disaster Preparedness Guidebook. https://lnkd.in/eynUgt5Y

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BMS Tropical Update 10/06/2024  Tropical Storm Milton is presenting a rare and concerning weather event for the insurance and reinsurance industry. Forming in the Bay of Campeche, Milton is taking an unusual eastward path towards Florida, a track only two storms have taken since 1850. With the storm projected to pass near the highly populated Tampa Bay area, the situation is reminiscent of the worst-case "Gray Swan" events that the insurance industry has long feared. The storm's potential intensity is uncertain, with forecasts ranging from a Category 1 to Category 5 hurricane, highlighting the need for vigilance. The combination of warm Gulf waters and favorable upper-level conditions could allow Milton to intensify rapidly, increasing the risk of severe storm surges and wind damage, particularly for a region that has not experienced a storm like this in decades. The Tampa Bay area, with its extensive waterfront property and a population that has ballooned from 450,000 in 1946 to 4.1 million today, faces significant risks from Milton’s approach. A major hurricane could lead to catastrophic flooding, especially if the storm's track funnels water into the bay. This scenario would submerge key areas like Tampa Airport and Downtown Tampa. The storm could also bring strong winds across central Florida, impacting cities along the I-4 corridor. With Milton poised to be the fifth landfalling hurricane of the 2024 season, this could further strain the insurance industry, which is already dealing with damages from previous storms this season. Now is the time for the industry and residents to prepare for potentially devastating impacts. This BMS Tropical Update provided more detail on the insights above, but specific of impacts cannot be discussed yet due to the intensity uncertainty. Click Link Here: ⬇️ https://lnkd.in/gQZdQf_b Below is a look at the BMS iVision Verisk Respond 3-second wind swath, which shows just one of the forecast scenarios for Milton. In this case, there is some weakening before landfall. However, an expanding wind field could complicate the storm surge situation along the west coast of Florida. Please note this is just one forecast solution. The Tropical Update shows all options.

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Hurricane Beryl continues to break various weather records, which this BMS Group Insight will highlight. We will also provide an initial look at the impacts it has had in Grenada, St. Vincent, and the small islands in between, including Carriacou. This update also explores the potential impacts of Beryl on Jamaica and the U.S. The long-range forecast indicates an increased likelihood of potential impacts that could pull Beryl north closer to the U.S. coastline early next week. This is in part due to the evaluation of the weakening upper-level ridge of high pressure of the Southeast and a short wave trough of low pressure. For more details on Beryl, click the link below. Below BMS iVision and the Verisk Respond 5-day forecast 3-secong wind gust forecast for Beryl shows it will rapidly weaken later today once it starts to hit an area of 40 kts of wind shear and continue to weaken as it nears the Yucatan coastline on Friday. Beyond day 5, the insurance industry should focus on the ensemble mean shown in the blog post. #Beryl #TropicalUpdate #Insurance #Reinsurance #RiskManagment #CatModeling Link To More Great Content ⬇ https://lnkd.in/gXNp72Ur

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Directors, officers and risk managers emphasize the importance of integrating cyber risk management with broader corporate governance, according to our survey https://ow.ly/1nPC50SoAZt #CyberRisk #InsuranceIndustry #DirectorsAndOfficers #ASmarterWayToRisk #WTWPerspective

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A new report from Aon revealed global insured losses due to national disasters hit $102 Billion at the end of September and are on track to pass last year’s total of $125 Billion. Category 3 Hurricane Milton hit Florida in early October, so its losses were not included in the $102 Billion. Hurricane Helene was the costliest insured loss event during the first nine months of this year. Full article linked in the comments below.    #insurance #weather #loss  

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Quick Insurance Industry Tropical Update: As expected, the Atlantic Hurricane season's second named storm has developed in the Main Development Region, Beryl. However, what wasn’t expected was the rapid intensification as Beryl is now a category 3 major hurricane with winds of 115 mph. It just became a hurricane 24 hours ago yesterday, so that is a good definition of rapid intensification.   This is the first time this has happened in June so far east in the Atlantic Basin. Still, as we have been highlighting in the BMS Group tropical updates this year, this should not be a surprise, given that Sea Surface Temperatures (SST) are running about two months ahead of schedule. While pre-July Atlantic #hurricanes are indeed unusual, the media's portrayal of the rarity of a major hurricane so far east may be overstated. The Atlantic Basin can experience hurricanes in June, as evidenced by a hurricane in late June 1933, which is a close analog to Beryl in terms of formation time and location. The rest of Beryl's track through the Caribbean remains uncertain, but the forecast suggests a major impact on the small Caribbean islands like Canouan, Union Island, and Carriacou. The return period for such a major hurricane impacting these islands is about every 50 years, highlighting the severity of the situation. After impacting the southern windward islands, Beryl is expected to weaken. The crystal ball shows tracks and intensity, widespread after entering the Western Caribbean around Thursday. The potential impact in the Gulf depends partly on what happens with the upper-level ridge centered off the Carolinas and a trough entering the Midwest. There is about a 10% chance of insurance industry impacts in Texas. Hence, the probability is not zero, and insurance carriers must pay attention to the mid-week forecast.  Below is the long range ECMWF Ensembles. The most of tracks take Beryl and this time into Central America. #HurricaneSeason #TropicalUpdate #Insurance #Reinsurance

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Recent updates from Florida Insurance Commissioner Michael Yaworsky reveal a promising trend as more insurance companies make their way into Florida, contributing to the recovery and stabilization of the market. Some domestic insurers have even reached a break-even point after grappling with substantial losses in previous years. Yaworsky points to these new market entrants as a sign that recent legislative reform designed to combat frivolous litigation is improving the market. Another encouraging sign for consumers is that the trajectory of rate increases has begun to flatten. These are all indicators that brighter days are ahead for the home insurance market in the Sunshine State. https://lnkd.in/etUJKkGC

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BMS Tropical Update 09/27/2024 The "No Surprises" initiative aims to provide the insurance industry with insightful updates on tropical events like Hurricane Helene, highlighting the event's unique impacts on insurance-related concerns. While agencies like the National Hurricane Center provide vital forecasts, these BMS Tropical Updates focus on key nuances relevant to insurers, such as tree fall, storm surge, building density, and how catastrophe risk models might respond. Hurricane Helene made landfall in Florida’s Big Bend as a Category 4 storm, marking a record eight Category 4 or 5 U.S. Atlantic hurricane landfalls since 2017. Despite clear warnings, the event underscores the ongoing production gap in flood insurance, with many affected areas having minimal coverage, leading to significant uninsured losses. We need to remember the catastrophic models likely do not have events that match Helene forward speed, size, and intensity, and it will be a few days until they can provide realistic events for loss estimate. As Helene continues to affect inland areas, particularly the Appalachian region with record rainfall, flooding and potential landslides, the insurance industry is gleaning new insights for future preparedness. While additional work on intensity forecasting is needed, improved forecast models did accurately predict Helene’s severity. In response to these challenges, research teams and technology, such as drones and Doppler radar, captured valuable data during Helene, offering critical information for future loss analysis. Additionally, advanced storm mitigation measures, like Tampa General Hospital's AquaFense, showcased effective ways to limit damage. Despite Helene’s destruction, the insurance industry’s ability to adapt and build resilience continues to evolve. For more detail above below, take a few minutes to read and get educated on a unique aspects of #Helene that you likely won't read any other place. ⬇ https://lnkd.in/g_4PA7TJ Below is the BMS iVision 3 second wind gust swath, which is a geospatial data layer BMS clients can use to understand wind impact to specific risk better and apply damage ratio to get an idea of loss. This data layer from Verisk Respond gets updated four times a day and depicts at a high resolution what types of wind gusts could be experienced over the entire life of the storm. Other data layers include 1 wind speed, wind duration, and accumulated rainfall. #HurricaneHelene #TropicalUpdate #HurricaneSeason #Insurance #Reinsurance

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Some positive developments in the Florida insurance market have been reported recently by AM Best. According to AM Best, this downward trend shows early signs of positive impact from the reform. In 2023, Florida carriers also bolstered policyholder surplus by $532 million without relying on major cash injections. The news on the reinsurance market, however, presented a more mixed picture. After years of upheaval with soaring rates and coverage limits, the 2024 renewals for most Florida carriers appear to be remarkably stable. Read the entire article here: https://lnkd.in/erFJ4iYz #StormReport #FloridaInsurance #PropertyCasualty (Graphic credit UF Warrington College of Business)

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BMS Group Tropical Update 10/10/2024  Hurricane Milton’s landfall near Siesta Key, Sarasota, represents a significant event in Florida’s history with major storms. As the 44th major hurricane to strike the state since 1851, #Milton demystified the local belief that Sarasota is protected by Native American burial grounds. Notably, this is the first direct hurricane impact on Sarasota since record-keeping began. With winds reaching 120 mph and a pressure of 954 mb, Milton became the fifth Gulf Coast hurricane to make landfall this year, three of which struck Florida. This year’s heightened hurricane activity continues to contrast sharply with the period from 2006 to 2017 when no major storms made landfall in the Gulf. The rapid succession of two major hurricanes in Florida, the shortest gap since 1950, highlights the growing risks the region faces. While Tampa narrowly escaped the worst of Milton's wrath, Sarasota and surrounding areas faced significant impacts. Preliminary assessments suggest that Milton could be the most severe hurricane to hit the Tampa Bay area in decades, possibly prompting the insurance industry to reevaluate its strategies for addressing such “Gray Swan” events. Despite many buildings adhering to Florida's stringent wind design codes, older structures remain vulnerable, and power outages across the region have raised concerns about the extent of storm-related damage. In addition to the hurricane's direct effects, Milton spawned over 45 preliminary tornadoes, making it one of the most prolific tornado-producing storms in the state's history. The insurance industry will closely monitor the situation as damage reports unfold, especially with the threat of additional tropical activity as the hurricane season progresses, which we will look at with this BMS Tropical Update. #TropicalUpdate #HurricaneSeason #Insurance #Reinsurance If you want more details on the specific impacts on the insurance industry, please click the link below. https://lnkd.in/g7fn-Ywa Below is the latest BMS iVision Verisk Respond 3-second wind gust product. This product helps clients better understand aspects of damage, such as areas with the highest wind gusts. However, there is much more. Other wind products, like the duration of winds and severe weather elements like extreme rainfall and tornado swaths from Canopy Weather, are also provided and shown. 

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Up early this morning attending The Florida Bar ASSOCIATION OF WORKERS COMPENSATION CLAIMS PROFESSIONALS INC FORUM. Cattie & Gonzalez, PLLC is a proud sponsor of this great event, providing top notch Florida work comp legal and claims education to our industry professionals. Please stop by our booth to say hi, take a #RALFIE, and of course speak about the latest on #medicaresecondarypayer compliance, including #mandatoryreporting, #conditionalpayments, and #setasideallocations. #rafaelgonzalezesq #cattiegonzalezpllc #ahigherstandardinmspcompliance

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Up early this morning attending The Florida Bar ASSOCIATION OF WORKERS COMPENSATION CLAIMS PROFESSIONALS INC FORUM. Cattie & Gonzalez, PLLC is a proud sponsor of this great event, providing top notch Florida work comp legal and claims education to our industry professionals. Please stop by our booth to say hi, take a #RALFIE, and of course speak about the latest on #medicaresecondarypayer compliance, including #mandatoryreporting, #conditionalpayments, and #setasideallocations. #rafaelgonzalezesq #cattiegonzalezpllc #ahigherstandardinmspcompliance

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BMS Group Tropical Update 10/31/2024 The 2024 Atlantic Hurricane Season has been nothing short of a horror story for the insurance industry, with storms like Beryl, Debby, Francine, Helene, and Milton bringing spine-chilling impacts. Though not quite a monster season, it has still been haunted by above-average hurricane activity, with Colorado State University's forecast of 19 named storms turning into a ghostly miscalculation as storm counts lag. The season’s ACE (Accumulated Cyclone Energy) index places it among the top 15 most active years, falling just below “hyperactive” levels. Financially, the industry braces for frightening losses, with Hurricane Milton alone driving nearly 266,833 claims and payments nearing $2.98 billion. Expected total losses range from a ghastly $27 billion to a shocking $44 billion, as claim counts creep ever upward. As we enter the twilight of hurricane season, a chilling question looms: could another storm rear its monstrous head in November? While a U.S. landfall this late is rare, eerie models hint of a storm brewing in the Southwest Caribbean, in turn sending shivers down the industry’s spine. This potential storm might head northeast toward the Caribbean, or—if it lingers—take a hair-raising northwest turn toward the Gulf, where warm waters could fuel a monstrous surge. For now, there is nothing more than a sinister whisper of what may lie ahead. Nonetheless, forecasters urge the industry to stay vigilant and prepare for the unexpected in this final chapter of a terrifying season. For more details please click the link below: ⬇️ https://lnkd.in/gtup43Hc Below is the various GFS and ECMWF Ensemble forecasts over the next 10 days. It show that some type of tropical system is trying to develop in the Southwest Caribbean. But the models are not helpful at providing any ideas on what might happen. There are a lot of options on the table in terms of strength and track of any system that does develop. Right now based on all the forecast there is a 60-70% chance of a tropical distrubance near the Southern Gulf of Mexico next week. The situation bears watching as the Atlantic is forecasted to turn more favorable towards tropical development due to upper air support and high ocean heat content.  #HurricaneSeason #TropicalUpdate #Insurance #Reinsurance #Halloween #WordPlay

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Data is useless without the application of it to your processes. Five P&C insurers have been fined in recent weeks by the Florida Office of Insurance Regulation for failing to properly handle claims after Hurricane Ian. Last week I spoke at the McKenzie Intelligence Services breakfast briefing on how insurers can take control of catastrophe claims processes through technology and data, and most specifically, the application and action on that data. During the briefing I launched the concept of First Notification of Incident (FNOI), and how insurers can utilise data to be proactive with claims processes, to have answers ready for when First Notification of Loss happens, and to delight their policyholders. Read our case study on Hurricane Ian and reach out if you want to know how you can implement FNOI. https://lnkd.in/e9mT-HaJ

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