Frank Pennachio, Practice Leader, Growth Solutions, wrote for PropertyCasualty360 on the risks of underinsurance and how agencies can address them.
In his article, he highlights the critical issue of underinsurance, affecting three out of five U.S. homes, often by 20% below their full value. The lack of adequate coverage leaves policyholders vulnerable to substantial financial losses, especially as global challenges such as business interruptions, supply chain disruptions, ransomware attacks, and extreme weather events intensify. The article emphasizes the role of agencies in identifying gaps in coverage, educating clients, and proactively adjusting policies to mitigate these emerging risks, ultimately safeguarding clients’ assets and maximizing revenue potential.
This is a summary of an article originally published by PC 360.
