How Will Marine Underwriters Respond to Losses?
Between large-scale vessel losses, back-to-back years of heavy catastrophes and an overabundance of capacity, the commercial marine insurance market has had a tough couple of years.
Specialty
Perfect Storm: Why Profits Are Sinking in Commercial Marine
Due to a recent string of high-profile losses, an overabundance of capital and a lack of underwriting discipline, as well as the increasing frequency and severity of natural catastrophes, commercial marine is currently an unforgiving place to do business.
From the Front Lines: Personal Marine
Pricier technology on boats, fewer younger buyers and stagnant rates lead independent agent and marine insurance specialist Brain DeSousa to believe that “the marine insurance marketplace is probably less profitable today than ever.”
Beazley Launches Environmental Liability Cover for Lenders
Beazley’s newest environmental liability product provides lender coverage to protect against environmental issues at a borrower’s real estate on single loans.
Ironshore Environmental Adds Storage Tank Coverage
With a broad appetite for commercial storage tanks of varying age and construction, Ironshore helps fulfill a market need by offering a solution for harder-to-place tanks.
State of the Public Entities Market: 3 Factors Driving Rates
Rate hikes in commercial auto, law enforcement professional liability and property are contributing to the many challenges in the public entities insurance space. But is joining an interlocal pool the answer to obtaining lower rates?
What Makes Public Entities Uniquely Susceptible to Ransomware Attacks?
Unlike a data breach, ransomware is a specific kind of cyberattack in which hackers lock up a victim’s systems so they can’t use or access it, then demand money in return for restoring the systems.
From the Front Lines: Public Entities
Independent agent Shawn Myers finds that specializing in public entities is a great way to help his community. “There is no better way to serve our community than to help protect the infrastructure that serves us,” he says.
From the Front Lines: Environmental Liability
Independent agent Jack Adams believes the environmental insurance market represents “a tremendous opportunity for agents or brokers,” he says. “New policy sales are slowly increasing, coverage is still not widely understood and insureds are frequently una
How Today’s Drone-Based Insurance Solutions Could Scale with BVLOS Flight
By operating drones beyond visual line of sight, insurers could change the economics of high-fidelity property and asset data collection.
