Markets

For homeowners and business owners, updating their structures comes down to one key question: Is it worth spending the extra money to achieve enhanced building standards.

For agents operating in the market, it’s imperative to understand the transformation that has taken place since the coronavirus pandemic, including changes to event formats, event planning, and audience expectations.

The policy has an enhanced definition of “employee,” which includes all classes of employees, including independent contractors and attorneys retained by the insured while performing legal or consulting services for the insured.

The policy offers dwelling protection for homes valued between $1 million and $6.175 million, providing wildfire-specific benefits including debris removal, landscaping restoration and mitigation support.

The rise of AI is poised to transform independent insurance agencies however, increased adoption is prompting essential discussion regarding the errors & omissions implications of its use by agencies.

The new product is designed to simplify and accelerate the quoting and binding process for small business clients.

The rapid growth in data centers has brought new challenges and a growing need for sophisticated insurance solutions to manage such risks.

While replacement valuation gaps are a prominent concern for builders risk clients, several other gaps and misconceptions can leave clients vulnerable to significant financial burdens.

In a market with such high selectivity, it falls on the prospective insured to show why it would be a good risk. Independent insurance agencies can help insureds implement approaches that demonstrate insurability and manage costs.  

While the builders risk insurance sector continues to remain profitable, economic and environmental uncertainties within the construction industry are forcing builders and insurers to rethink their strategies.