Commercial Lines

Here’s a breakdown of the most common errors agents make when placing professional liability coverage—and how to avoid those situations.

The coronavirus pandemic, catastrophic weather events and other market pressures continue to exacerbate market challenges across all commercial property-casualty lines of business, with rate increases of 25% to 50% in cyber insurance.

While the market remains extremely soft with ample capacity and positive growth projections through 2027, things may not be as rosy as they seem.

“I had no clue what surety or bonding was at first. Upon learning more, I knew it was the career for me,” says independent agent Ben Dycus. “The intersection of construction, finance and working with people to build meaningful relationships was what I wan

Agents can play a central role in identifying carriers and matching their surety appetite to their clients. Here are three ways agents can add value with surety.

Coverage focuses on the farming and agriculture industry, including hard-to-place or boutique farms on a non-admitted basis.

The insured delivers a refrigerator to a customer. Once in the house, the insured takes the fridge off the dolly to maneuver a small space, but while moving the fridge by hand they scratch the floor.

“The coronavirus pandemic has decimated the industry,” says independent agent Craig Balco. “Many restaurants, especially the new ones, are on such tight budgets that they really need to stay on track with their finances just to stay open.”

One year after the ruling prohibited workplace discrimination based on gender identity and sexual orientation, agents must make sure commercial clients are taking action to reduce risk.

The new policy offers features including coverage for claims made against an insured person solely because they happen to be a plan fiduciary.