Markets

As natural disasters become more frequent and more costly, insurance carriers are experiencing an increase in the frequency and severity of environmental claims.

Rainbow’s new business owners policy rewards insureds for safe behavior and provides an industry-first pay-as-you-go payment plan option that automatically adjusts to the business’ ups and downs.

For many of the small business owners who have entered the retail cannabis market, ensuring they have the correct type and sufficient levels of insurance coverage may not be top of mind.

“In the past, E&O coverage for seed dealers has been very cost-prohibitive,” says independent agent Shelly Turner. “Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.”

As states expand legalization, the demand for cannabis is growing, creating both opportunities and challenges for independent agents to enter the market.

As the climate changes, independent agents play a major role in educating their clients on the need to purchase flood insurance, as well as providing advice to them on the steps to take to protect their property.

The new program helps high net-worth homeowners secure adequate levels of coverage in areas where wildfires have increased in frequency and severity.

The impact of recent disasters on consumers’ flood risk awareness is propelling growth in the private flood insurance market.

Skyward Specialty caters to media companies and content creators with new coverages for advertising agencies and public relations firms, creators of films, documentaries, television programs and more.

As automotive claim severity increases for bodily injury, property damage and collision, clients should consider protecting themselves with uninsured or underinsured motorist umbrella coverage.