Commercial Lines

If the insured has a claim outside the 500-mile radius, will the claim be covered? Is there a chance the carrier may wish to nonrenew or cancel?

The product addresses unique risks in the rapidly evolving field of health care technology, including coverage for medical malpractice, technology bodily injury and cybercrime.

A client’s commercial property suffered wind damage. Repair estimates were approved, but weather delayed the repair and the costs increased. The adjustor is denying the additional repair costs.

“We see challenges with LTC (long-term care) adoption rates,” says independent agent Kelly Augspurger. “In my opinion, it’s an awareness and education issue because people don’t know what they don’t know.”

There are signs of stabilization in the property market, with ample capacity available following favorable underwriting results on the insurance and reinsurance side.

With factors such as an aging workforce and economic fluctuations pushing material and wage costs higher, agents can help their clients purchase adequate builders risk coverage.

“Although we may be coming out of one of the most difficult periods in insurance history, some areas might still see increasing premiums for another 12-18 months,” says independent agent Guffy Wright. “Factors like claim volume, social inflation, weather patterns and fraud will continue to play major roles.”

Extreme weather events continue to present difficulties in the agricultural sector, and farmers are finding themselves in dire financial straits and at risk of losing their livelihood.

After Hurricane Helene, it became apparent that few farmers in the disaster areas had crop insurance. Here’s how agents can highlight the benefits of this essential coverage.