Commercial Lines

The greatest factor in pushing rates down is the new capacity that came in during the hard market in both the U.S. and London.

As terrorism and sabotage risks evolve and an election year looms, insurance agents with clients in the soft occupancy space should be advising their clients on strategies for risk transfer and mitigation.

As agents look ahead to 2024 and work through budget planning and new client outreach, considering new avenues of business may be crucial to surviving in today’s market.

Cyber liability insurance is only becoming more necessary for commercial clients, but if they don’t have the right risk mitigation practices in place, they may have difficulty finding coverage.

“Cyberattacks are only going to continue to increase,” says independent agent Evan Bundschuh. “In response, you’re going to see more and more vendors and business partners requiring cyber insurance.”

Here are two claim scenarios where employment practices liability policies saved the day for independent agencies.

Three out of 4 restaurant operators say business conditions are already close to normal but, even as the sector bounces back, there are persistent challenges.

For independent agents, Medicare provides growing market opportunities, the potential for year-round sales and the rewarding aspect of making a meaningful difference in people’s lives.

The tenant’s carrier is declining to pay for a damaged door, saying there is no obligation for the tenant to pay for the building owner’s property.