Markets

To mitigate the risk of an errors & omissions claim, insurance professionals need to approach offering umbrella coverage with diligence and consistency.

There is a growing recognition of the importance of mental health in the workplace, with many states enacting laws to include post-traumatic stress disorder and other mental health conditions under workers comp benefits.

Coverage will help medical technology, pharmaceutical, biopharmaceutical and digital health companies with the costs of product-related claims.

Proactive conversations with clients about catastrophe risks can surface potential coverage gaps and open the door to more forward-looking planning.

Agents can help find a way to deliver comprehensive protection and streamlined service to small businesses that face unique challenges.

“Most insurance companies consider general liability the cornerstone line of business for an account,” says independent agent Brad Berrong. “Normally, if a company does not consider this type of exposure, it will not accept other lines of insurance for that account.”

Consumer litigation activity continues to impact the market adversely, with third-party funding driving additional litigation costs, higher settlements and higher premiums.

Policyholders can choose from various deductible and co-pay options to balance upfront home insurance costs with long-term savings.

The coverage is designed for a broad range of commercial properties that require substantial limits beyond traditional primary layers.

The hard market is among the causes of the growth of the excess & surplus market, which had previously been considered a safety valve.