Markets

As the number of high net-worth individuals (HNW) grows and more are considering self-insuring, agents’ roles are transforming from policy placement to strategic risk advisor.

With rating climbing and coverage tightening, more high net-worth (HNW) clients are choosing to assume more risk themselves. Here’s how agents can help HNW clients evaluate their risk profile and tolerance.

In a market where carriers are inundated with submissions, agents can help their product liability clients secure the coverage they need by understanding carriers’ appetite and capitalizing on the opportunities they offer. 

For agents operating in the market, it’s imperative to understand the transformation that has taken place since the coronavirus pandemic, including changes to event formats, event planning, and audience expectations.

As health care costs continue to rise for many Americans, employers increasingly view supplemental health benefits as crucial for recruitment, retention and employee satisfaction.

Prescription drugs play a significant role in increasing health care costs, with Americans spending approximately $98 billion out of pocket on prescription drugs, a 25% increase over the past five years.

The endorsement extends coverage to legal actions involving consumer protection statutes, even when claims are not tied to other perils—a risk often excluded by traditional media liability policies.

Ghost kitchens are a growing trend, fueled by celebrities like MrBeast and Mariah Carey, but these non-traditional food service businesses bring unique exposures that don’t always fit into standard restaurant policies.

As restaurants deal with increasing premiums, reduced underwriting capacity and labor challenges, strategies can improve insurability and potentially lower premiums.

The policy offers coverage limits up to $5 million per location, as well as options covering additional activities modern warehouse operations encounter, including the handling, repacking and processing of stored goods.