“In the beginning, neither the government nor the insurance industry was prepared to deal with this entirely new technology as fast as it became available,” said independent agent Gerry Zoller. “Today, we see uniform government regulations and several ins
As the commercial drone industry becomes less restrictive, insurers and agents are preparing for more opportunities in the future.
With reduced capacity, increasing rates and the coronavirus pandemic, agents and insureds are facing difficult choices in the public entities market.
Local governments and institutions have been among the most involved with the coronavirus pandemic, adding fuel to the fire in an unsettled market.
“Equine insurance is a niche market and has its own needs and language,” says Lucinda Human, independent agent. “As large companies have bought smaller agribusiness companies, the emphasis on the customer specific to equine business has become more mainst
The coronavirus has hit the special events industry particularly hard and insurers are paying the price.
“The pandemic is putting very heavy restrictions on indoor events, which will squash that market down heavily,” says independent agent Mark Di Perno. “However, outdoor events are a different story.”
After the SARS outbreak in 2003, The All England Lawn Tennis Association, which organizes the Wimbledon tennis tournament, has purchased pandemic insurance for around $1.9 million every year.
From birthday parties to weddings and conventions to concerts, the need for special events insurance has never been greater.
Even during the coronavirus pandemic, independent insurance agents must stay up to date with the ebb and flow of the dynamic boating industry.
