article thumbnail

The LA Fires Could Change the Insurance Industry

Harvard Business

For the insurance industry, the threat of massive and profoundly destructive wildfires poses a significant and immediate problem. Big wildfires didnt become big by insurance standards until 2016, and insurers dont yet have the tools in place to manage the risk. One solution could be parametric insurance.

Insurance 204
article thumbnail

How to Pay Less Tax as an Independent Consultant

Successful Independent Consulting

Health insurance premiums Although expensive, your premiums for health and dental insurance are tax-deductible when youre self-employed. Business insurance The amount you pay to protect your business from liability is tax-deductible, but a personal umbrella policy is not. Much more info below!)

Insurance 195
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Cyber Insurance Market Needs More Money

Harvard Business

Securities could help give insurers the breathing room they need to keep growing — and meet customers’ mounting needs.

Insurance 172
article thumbnail

Steps for Getting Started as an Independent Consultant

Successful Independent Consulting

Subcontracting is straightforward because the agency or platform usually sets the rate, carries the insurance, and handles the contracting and billing. You need to add an uplift to cover business expenses, health insurance, and non-billable time.) The drawback, however, is that theyll keep 25-35% of your revenue.

article thumbnail

How the Insurance Industry Could Bring Down Fossil Fuels

Harvard Business

Facing billions of dollars in losses, insurers are starting to ditch carbon-producing energy — but they’re still tentative about renewables.

Insurance 171
article thumbnail

Driverless Cars Will Change Auto Insurance. Here’s How Insurers Can Adapt

Harvard Business

There is little doubt that the widespread adoption of autonomous vehicles will have a huge impact on the automobile insurance industry. Since insuring privately owned vehicles is what the auto insurance industry has been all about, insurers have every reason to be concerned about their future growth and profitability.

Insurance 130
article thumbnail

Negotiating Lower Hospital Prices as a Self-Insured Employer

Harvard Business

disclosure rules will give employers greater visibility into rates negotiated by big insurance companies.

Insurance 153