Happy Holidays from Chartwell Insurance
"The true guide of life is to do what is right."
- Winston Churchill
Top row, left to right: Sarah de Blasio, Kristen Schainker, Rebecca Woan, Dyer Pierce, Megan Rasmussen
Bottom row, left to right: Eileen Schwerdt, Jennifer Paalbalog, Kirsten Stickney, Jennifer Bosse, Rachel Fitzgerald
Each year we feature a quote from Winston Churchill, whose perseverance inspires us every day, and whose family home, Chartwell, inspired our name.
This year’s message of sticking to your principles over all else has guided us during another tumultuous year for our planet and our industry:
While the wildfires were less intense this year and only one hurricane, Idalia, touched down in the US, the season saw 20 named storms (the fourth highest number of storms-per-season since 1950 per the NOAA), including Hillary’s debut as the first tropical storm to hit California in 84 years.
As people all across the country were reminded this year, a storm doesn’t need a name to be memorable – significant hail activity damaged homes and vehicles from Portland (OR) to Portland (ME) and all points in between.
We’ve also seen automobile losses increasing in severity and frequency as drivers return fully to the roads, now even more distracted by advances in mobile devices and the complexity of digital vehicle interfaces.
The supply chain has improved somewhat; material prices, while no longer rising at double digit rates, have not returned to anywhere near the pre-pandemic levels, keeping the rates for and duration of repairs high for homes and vehicles.
The resulting climate continues to challenge the industry and brokerages specifically. Insurance companies have spent the year reevaluating and repricing based on the catastrophic losses from Hurricane Ian and other nationwide weather events, and we’re beginning to see withdrawals from some of the most recognizable names in the industry in certain states.
For brokers, this means finding markets has become increasingly challenging not just for clients in coastal and wildfire-prone areas, but nationwide. We’re seeing more aversion to any loss history, and revised exclusions of homes with wood and metal roofs – common characteristics few consumers associate with high-risk.
Another outcome from the industry upheavel, despite the rising rates, is the reduction of commission rates for independent brokerages like Chartwell. As brokers, we continue to advocate on behalf of our clients while feeling each of these changes not only as professionals, but as consumers as well.
This returns us to Churchill’s guiding words. Despite the challenges this year, our foremost goal remains to do what is right for our clients. As the industry changes, we will continue to place coverage with insurers with strong financial strength, and a reputation for generous and fair claim settlement.
We are thankful every day for the relationships we have built with you, our clients, and look forward to working with you in 2024.
Welcome, Kristin!
This Summer, we welcomed Kristin Schainker to the core Chartwell team as an Assistant Account Manager. With over fifteen years of experience in the boutique service industry, Kristin has already made a name for herself with her diligence, dedication, and commitment to client relationships. She and Chartwellian-in-training Hazel (born 2022), run the Central Illinois branch from their home in Petersburg.
Wishing you and yours the happiest of holidays, and a wonderful new year.
Sincerely,
The Chartwellians
(Rebecca, Sarah, Eileen, Dyer, Kristin, Jenn, Megan, Kirsten, Rachel, and Jen)