Commercial Lines

It’s safe to say 2019 was an interesting time in the directors & officers insurance space, and the coronavirus pandemic isn’t making things any easier.

How independent agents are protecting America’s farmland and the nation’s food supply.

How inadequate training, merger & acquisition slip-ups and faulty technology processes cost agencies.

The employment practices liability insurance industry has never sailed on smooth seas, and the near future of the market is no different.

From helping clients navigate risks to developing new relationships to grow their book of business, brokers must think of new ways to engage.

By proactively engaging clients in conversation, agents can strengthen retention and deepen relationships, demonstrating their support as businesses face new challenges.

Independent agents should be thinking about how to provide more value to win a dwindling number of business clients—many of whom will be paying more and more for coverage.

In a challenging builders risk marketplace, “water damage is becoming a silent killer for a lot of carriers,” says independent agent Bret Lawrence. “We’re seeing water damage minimum deductibles increasing and many carriers sub-limiting the coverage.”

The product covers financial losses from social engineering fraud, dishonest acts of an employee and unauthorized access by hackers.

A prospect bought a warehouse for $1 million. The replacement cost is $25 million but the owner only wants to protect their investment and has said they wouldn’t replace the building in the event of a total loss.