Commercial Insurance Ratings for Small Business: Challenge or Opportunity?

June 19, 2019 by Sharon Maloney
Using just a single source of a small business' financial performance leaves critical information gaps for insurers, according to LexisNexis Director Sharon Maloney, who notes that these gaps can cause carriers to quote high premiums for low-risk customers and low premiums for high-risk customers. She writes that instead of suffering the long-term portfolio consequences of each scenario, carriers can dramatically improve their risk assessment efforts by incorporating a multisourced strategy.