Markets

The agency errors & omissions environment has become more complicated, and the result has led to several implications for independent agencies.

Here’s how an agent can to explain this unique requirement to their surety clients.

Agency errors & omissions coverage has been impacted by the hard market, with premiums increasing over the past few years, and difficulty in replacing waves of retirees with younger workers.

Executive Risk Insurance products on surplus lines paper provides coverage to a broader range of industries including health care, education, private equity (PE), and more.

Agents are in a strong position to work with carriers to provide coverage and can be most effective when they specialize and comprehend all aspects of the event their client is seeking coverage for.

Half of Americans believe their house of worship, nonprofit, community group or school is not prepared for the possibiity of an armed intruder, highlighting the need for agents to help clients mitigate a sobering risk.

A U.S.-based trucking client’s truck and cargo were stolen in Canada, but the carrier denied the claim due to a territorial exclusion. The loss happened “before the insured had a chance to read the policy.”

Special events insurance coverage for small events has returned to normal after the COVID-19 pandemic—but for certain larger events, the way things used to be is no longer achievable.

The recent trend of rising liability injury claims for home and auto owners that exceed traditional policy limits has moved Mercury to unveil an all-new personal umbrella insurance policy.

In 2024, expect carriers to continue to be aggressive on new business while more conservative on renewals.