Markets

“The pandemic is putting very heavy restrictions on indoor events, which will squash that market down heavily,” says independent agent Mark Di Perno. “However, outdoor events are a different story.”

When it comes to homeowners insurance changes, “you will see coverage being reduced and added back in for a price,” says independent agent Brian Stauffenberg. “Premiums are increasing hand-in-hand with wind and hail claims.”

Looking toward future personal marine trends, the market “will continue to get harder,” says Patrick Kudlich, independent agent, and it “will only continue to get harder as natural disasters increase in strength and number each year.”

As far as biggest RV insurance changes go, “RVs are becoming quite extravagant,” says independent agent Yvette Jaramillo. “It is a higher premium, and on top of that a lot of people—especially retirees—live in them. Only certain carriers will cover that.”

In a challenging builders risk marketplace, “water damage is becoming a silent killer for a lot of carriers,” says independent agent Bret Lawrence. “We’re seeing water damage minimum deductibles increasing and many carriers sub-limiting the coverage.”

The product covers financial losses from social engineering fraud, dishonest acts of an employee and unauthorized access by hackers.

“Don’t assume your area won’t flood,” says independent agent Danny Cook, who guided his community through catastrophic flooding twice in 23 months. “Flooding is increasing in frequency and severity.”

It’s crucial to educate commercial auto clients because “when there’s a loss,” says independent agent Sam Artino, “you’re not thinking about how much you paid, you’re thinking about how much coverage you have.”

When it comes to cyber liability insurance, “You have to drill down and figure out specifically what risk each client has to be able to appropriately mitigate damage,” says independent agent Jeffrey Miller. “I say ‘mitigate’ because it’s not if you have a

Independent agent Stefanie Fuller says technology is one big challenge in the architects & engineers insurance industry. “As design firms continue to evolve, it can be difficult to find insurance solutions to address their needs,” Fuller says.