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Allianz Responds Re: Magnolia (Sort Of…)

When Sabal initially looked at the failure of Magnolia Insurance Company on April 9th, our analysis focused on the issue of ‘risk or no risk’.  That is, insurance regulators have – since the early 00’s --- deemed insurance transactions in which there was little or no transference of risk…to be impermissible.  A central tenet of 'insurance' (the lower case version) is that it is NOT 'insurance' if there's zero ‘risk’ involved.   So it is with great interest that we’ve followed the developing story and the formal response from Allianz.   While these matters can seem dry (to ANY observer, not just the non-insurance...

How Much??? Is ‘Enough’ (Insurance)???

A favorite axiom of a late relative that has long since entered the corporate vernacular at Sabal is that:  “[You] can never have enough cash, enough guns…and enough insurance.  Because when everything falls apart?  You’re gonna need all three.”   On a more professorial level than Pappy’s above advice, there are vast multitudes of websites, calculators, and actuarial models all devoted to the question of:  how much [insurance] is enough?  (And before you get disappointed with the reply contained herein, let us be the first to inform you that this posting is not NEARLY as thorough or as academic in its approach...

Back….To Business!!!

The Sabal blog was on hiatus for the summer.  But, like streaks in baseball…all things must come to an end (including summer break).   Any (honest) writer will confess that ‘inspiration’ is overvalued…writing is WORK.  And just as any tradesperson (or insurance broker) will attest, ‘work’ is sometimes best done via simply tackling a project without mindfulness of ‘inspiration’ or ‘feeling’. So the majority of topics that are ‘tackled’ by Sabal are generally ‘workmanlike’…concerning rate adequacy, proper insurance valuations, and the like.   But we DO like to change things up and – every now and then – something DOES catch the eye in...

Mitigate? Or Litigate???

There has been a great deal of press lately concerning the BP Deepwater Horizon disaster and the ensuing drama regarding the settlement of claims and ongoing expenses.   Lost in the clamor about proper oil spill mitigation techniques (and the failure to innovate on same) and the fights between BP and plaintiff’s attorneys regarding settlement and the eligibility of class members, it seems like only Joe Nocera – from the definitely-not-very-conservative New York Times –made the connection that BP – by trying to do the ‘right’ thing by the claimants – ended up doing the wrong thing by its business.  In fact,...

Quiet 2013 Hurricane Season…A Headscratcher…

[Disclaimer from a superstitious insurance professional:  The 2013 Hurricane Season is still in effect.  So if the cosmic/karmic implication of writing a blog post on the ‘quiet’ of the current storm season…invites a late season barrage of disastrous storms?  Send your invective my way…because…it won’t be nearly as bad as what I will heap on myself.]   That being voiced and being out of the way…the point of this posting is not to take a victory lap.  We’ll save that for December 1, 2013.   But we will take this opportunity to repost the Sabal blog update from the last day of Hurricane Season...

Innovative Solutions

While the majority of the blog posts that complement Sabal's web presence and website are 'observational' (and, dare we say, timely and astute ; ), sometimes there is great value in 'biographical' works, as well (specifically, things along the lines of 'don’t make the same mistakes as [I/we] did!’  This is a post of the latter variety.   On December 9th, my house was broken into.  The alarm, the police, the impact resistant glass...

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Sabal Insurance Group

Sabal Insurance Group specializes in the development of innovative insurance solutions for clients nationally and internationally.   These solutions include comprehensive property and liability programs, general and professional liability, workers’ compensation, auto/fleet, and surety bonds.   Our personal lines department offers homeowners, auto, boat, motorcycle, and recreational vehicle insurance.  We also handle rental properties nationwide, as well as jewelry and fine arts (including the coordination of appraisals and valuations).   Licensed in all 50 states, we serve a diverse client base that spans the United States, Europe, and Latin America from our headquarters in Fort Lauderdale, Florida.   Sabal Insurance Group represents multiple insurance carriers, so we offer our clients a wide choice of products and coverages at the best pricing available in the global insurance marketplace. At Sabal, we add exceptional value to insurance and risk management programs through creative placements and aggressive representation of our clients’ interests.