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.
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’s newest environmental liability product provides lender coverage to protect against environmental issues at a borrower’s real estate on single loans.
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.
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?
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.
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.
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
By operating drones beyond visual line of sight, insurers could change the economics of high-fidelity property and asset data collection.
Although K&K has been insuring the zip line risk through various programs, it now offers a focused aerial attractions program in partnership with Hibbs-Hallmark & Company.