Specialty

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.

If an agent wants to put their personal marine book in the windward direction, they need to know their starboard from their port to earn a client’s trust.

Looking toward future personal marine trends, the market “will continue to get harder,” says Patrick Kudlich, independent agent, and it “will only continue to get harder as natural disasters increase in strength and number each year.”

As an emerging business sector with its own unique set of risks and challenges, insuring a cannabis business may not be easy—but is far from impossible.

Pioneer Programs created a comprehensive, risk management approach to active shooters focused on preventing and mitigating such events.

Loosening marijuana regulations are giving seed to immense growth in the cannabis market. But in insurance, the fledgling business is creating a haze of confusion.