Markets

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.

The coverage offers business income, reward money for information leading to the capture of the perpetrator, a public relations consultant and a crisis manager.

With a dynamic general liability market, agents can play a key role in assisting their clients and continually add value to the relationship.

As litigation funding becomes more common in general liability litigation, rising claims costs are impacting the casualty market.

“Recently, the market has been constricting—both in appetite and limits available, and mostly in the excess and umbrella lines,” says independent agent Tony Arneson. “The number of lawsuits and the size of jury awards are rapidly trending higher.”

Independent agent Marty Clark spends ample time getting to know his customers’ business operations because, when offering general liability coverage, “it’s not OK to assume you know their risks,” he says.

After leaving the software industry in search of a field with strong ethical standards, Terri Powers landed in insurance—and has worked with business owners on both their commercial and personal risk management needs ever since.

In today’s litigious environment, independent agent John Boykin believes general liability insurance is more important than ever.