How to Help Construction Clients Navigate Wage and Materials Inflation
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.
Commercial Property
From the Front Lines: Real Estate
“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.”
Reconstruction Costs Up 60% Since 2014
The significant increases were driven by inflation, labor shortages and supply-chain disruptions, according to a Verisk report.
Building Demo: Coverage for Damage to Surrounding Buildings?
An insured has hired a company to demolish an old building, on which they have liability coverage, that has a common wall with the property next door.
What Is a Wind or Hail Buyback Policy?
How do you explain how a wind or hail buyback policy works? And is a deductible applied to these types of policies?
BPP vs. PPO: Contractor Storing Materials Purchased by Client
If a contractor receives payment before delivering the materials to the final installation point, are the materials still business personal property or have they become the personal property of others?
AN Radio: Controlling the Controllable with Haley Andrews
Andrews shares her journey from an internship with Nationwide to leading her family’s agency through the highs and lows of the California insurance landscape.
Up to 10 Named Storms Forecasted During ‘Supercharged September’
Following a brief lull in tropical activity in the wake of Hurricane Ernesto, the conditions are now primed for a series of back-to-back storms over the next few weeks in the Atlantic.
Reconstruction Costs Accelerated 5.2% Year-Over-Year
Both residential and commercial property saw total reconstruction costs increase from July 2023 to July 2024.
AN Radio: Preparing for the Storm and Flood Insurance Strategies
Brian Chapman, agent and owner of Chapman Insurance in Florida, sits down with Cassie Masone, vice president of flood operations at Selective Insurance.
