Independent agent Dan Weedin is noticing “volatility” in the cyber liability insurance market. “The risk and exposure is constantly changing and it’s difficult to keep up with,” he says. “We must stay up to date with the appropriate coverages for perils t
Without a doubt, purchasing or selling an insurance agency triggers additional errors & omissions exposure. What processes can successful agencies employ during a transition in order to help reduce their exposure to E&O claims?
The surety industry is one of the most complex markets in insurance—which makes it a great avenue for independent agents to prove their value. But in a persistent soft market, adding value beyond price is easier said than done.
Due to the amount of detail and sensitive information involved in the surety bond process, it’s important to choose a reliable wholesaler to support you and your client.
Rust caused damage to an insured’s HVAC chiller. The insured submitted a claim on their equipment breakdown policy but it was denied. Why?
The ongoing labor shortage in the construction market continues to put pressure on project scheduling and costs for contractors. But for contractors who are struggling to manage scarce resources, the surety market offers relief.
Independent agent Richard Miller predicts that the surety bonds market will remain strong in the long term. “The future of surety is endless,” he says. “As long as there are jobs to be done, financial guarantees are required, and bonds are uniquely suited
The interconnectedness of the global economy means an increasing number of businesses have international exposures.
A tornado destroys an insured’s shed and its contents, including a $3,000 windmill head. The insured submits a claim but the insurer denies coverage because the property not covered section of the policy contains an exclusion for “windmills.”
An insured has a business owners policy that includes coverage for loss of business income. However, flood is not a covered peril under the BOP and it isn’t possible to add the coverage as an endorsement to the NFIP policy.
