Risk never takes a holiday. But that doesn’t mean we can’t have a little fun it with it this holiday season. On LinkedIn this year, we’ve been posting our 12 Days of Riskmas… And we’re compiling those daily risk management facts here, so you can enjoy them, too. Check back regularly as we add new facts to this post!
On the First Day of Riskmas…
🎉 It’s Day 1 of the “12 Days of Riskmas” and we’re kicking things off with an eye-opening look at trends in US property insurance rates! 📊🏢 Over the past several years, property insurance rates have seen notable fluctuations, driven by factors like catastrophic losses, inflation, and market conditions. This quarter-by-quarter data, sourced from Marsh’s US Insurance Rates Market Report, highlights just how dynamic the property insurance landscape can be. Understanding these trends is critical for risk managers as they navigate today’s challenges and plan for what’s ahead. Stay tuned for more insights as we continue our Riskmas journey! 🔍 Explore the full report here: https://buff.ly/3D9hjep
Second Day of Riskmas…
🌟 Day 2 of the “12 Days of Riskmas” shines a light on the risk pooling world! 🌐 Did you know that 1 in 3 risk pool executives have stepped into their roles within the past three years? This influx of fresh leadership brings exciting opportunities for innovation and collaboration but also unique challenges in knowledge transfer and strategic alignment. As the landscape continues to evolve, the importance of strong succession planning and resource sharing has never been greater. Stay tuned for more insights as we unwrap the world of risk management during Riskmas! 🔍 Check out the full webinar from AGRiP for more on some of the challenges faced by risk pools: https://buff.ly/4gtWFUs
Third Day of Riskmas…
🌟 Day 3 of “12 Days of Riskmas” highlights the incredible value of public sector risk pools! 🌟 Public sector risk pools have not only sustained excellent financial performance and driven coverage innovations, but they’ve also made risk management a priority for public entities. By promoting collaboration and long-term planning, pools empower local governments and schools to improve services and deliver more to the public. It’s a testament to the power of collaboration and effective risk management. Stay tuned as we continue our journey through Riskmas! 🎁 🔍 And for more on the value of risk pooling, check out this toolkit from NLC/AGRiP: https://buff.ly/3ZIDS2i
Fourth Day of Riskmas…
🎄 Riskmas Day 4: The Challenge of SOV Data 🎄
We get it. Maintaining data and valuations for hundreds or thousands of buildings across many insureds can feel like untangling holiday lights—endless and frustrating.
But what if it didn’t have to be this way? With RiskStar, you can simplify, centralize, and streamline valuation and data management—so you can move from chaos to clarity.
This Riskmas, let’s make managing SOV data easier, together. 🌟
🔍 You can read more from the Advisen/Archipelago report here: https://buff.ly/3Bva8N4
Fifth Day of Riskmas…
🌟 The fifth day of Riskmas is here!🌟
Insurance has a storied history, and its roots in fire protection in the U.S. go all the way back to one of America’s founding fathers. While we’ve come a long way since 1752, the principles of protecting what matters most remain timeless.
At Centurisk, we’re proud to carry on the legacy of innovation in risk management, helping organizations navigate today’s complex challenges with modern tools and data insights.
Here’s to learning from the past and building a safer, brighter future!
Sixth Day of Riskmas…
🎄Day 6 of the 12 Days of Riskmas is here!🎄
According to PwC’s recent Risk Management Pulse Survey, 65% of risk manager’s surveyed identified a “shortage of relevant skills in the workforce” as one of their top concerns.
This highlights an urgent need for organizations to address talent gaps, whether through upskilling, leveraging innovative technologies, or partnering with trusted advisors to navigate an increasingly complex risk landscape.
🔍 Check out the full report for more: https://buff.ly/41Dqga6
Seventh Day of Riskmas…
🌟 Riskmas Day 7: A Lesson in Insurance History 🚢
Today, we’re sailing back in time to 1688, the year Edward Lloyd’s coffee house in London became the go-to meeting place for shipowners and merchants seeking insurance for their voyages.
This humble coffee house laid the foundation for what would become Lloyd’s of London, the world’s leading marketplace for risk solutions.
From insuring ships centuries ago to tackling modern challenges like cyber risks and climate change, Lloyd’s represents the enduring importance of innovation and collaboration in risk management.Centurisk on how we can help you get the accurate valuations you need to move with change.
Eighth Day of Riskmas…
❄️ It’s day 8 of Riskmas and we found this surprising…❄️
Floods are one of the most common and costly natural disasters in the United States. Did you know that 99% of U.S. counties have experienced a flood event in the past 20 years? 🌊
In fact, flood damage is more prevalent than fire loss, yet many homeowners and businesses underestimate their risk. With the growing impact of climate change, the frequency and severity of flood events are only expected to rise.
💡 Mitigation matters! Steps like maintaining proper drainage systems, elevating critical infrastructure, and reviewing flood insurance coverage can significantly reduce financial and operational risks. Learn more about how you can be proactive here: https://buff.ly/3Bw4bzr
Ninth Day of Riskmas…
🎄✨It’s the 9th day of Riskmas and today we’re celebrating AGRiP’s legacy ✨🎄
Since its incorporation in 1998, AGRiP has grown to include more than 213 member pools, each committed to strengthening risk pooling and serving their communities. At Centurisk, we’re proud to share in the mission of innovation, collaboration, and excellence in risk management.
We look forward to connecting with old friends and meeting new ones at some of the great events AGRiP is planning for 2025 including March 16-19 at the Governance Conference in Las Vegas.
Tenth Day of Riskmas…
🎄✨ For the 10th day of Riskmas we’re celebrating STRIMA’s milestones ✨🎄
This year, the State Risk and Insurance Management Association (STRIMA) commemorated its 50th anniversary—a testament to five decades of advancing risk management principles and practices in the public sector. Next year, STRIMA is set to host its 50th conference in the historic setting of Jekyll Island, Georgia.
Centurisk is excited to attend this great event which brings together state risk and insurance managers to share insights, foster collaboration, and continue the mission of promoting excellence in public sector risk management.
Eleventh Day of Riskmas…
✨On the 11th day of Riskmas, we’re discussing commerical property under insurance 🏢
According to the Insurance Information Institute, the U.S. commercial property insurance segment is showing signs of improvement despite challenges like climate risk and inflation. Notably, for the first time since 2017, commercial property insurance rates have broken their upward trend, with a slight decrease observed in Q2 2024.
But did you know that 90% of commercial buildings may be under insured? This gap poses substantial risks for property owners, potentially leaving them vulnerable to unexpected financial burdens.
If you’re worried about the replacement or reproduction cost values for some of your properties, our team can help. With comprehensive plans for onsite physical inspections, valuation trending, and more, we can help get you the peace of mind you deserve…knowing the properties you insure are protected in the event of a loss.
Twelfth Day of Riskmas…
🎄✨ For Riskmas Day 12, we’re looking ahead to 2025! ✨🎄
As the holiday season approaches, we’re filled with excitement for what’s to come in 2025. At Centurisk, we’re committed to working hand-in-hand with our customers to tackle complex risk management challenges and continue driving innovation together.
We wanted to take a moment to say thank you to our customers and partners for inspiring us every day. Here’s to another year of growth, collaboration, and innovation. Together, we’ll continue to navigate the complexities of risk management with confidence.
Happy Holidays! Happy New Year! 🎉