A megatsunami, flood, volcanic eruption, and earthquake hit Earth in rapid succession, causing worldwide destruction. While this scenario is the fictional plot of the film 2012, today you would be forgiven for assuming that it’s a current headline. A recent report from the National Academies sheds light on the growing threat of compounding...
The 411 on Architects and Engineers Professional Liability Insurance
In the intricate, high-stakes world of architecture and engineering, every blueprint drawn and calculation made carries immense responsibility. Professionals in these fields face unique risks that require specialized protection. Whether you’re catering to architects designing skyscrapers or engineers developing innovative infrastructure,...
Navigating the 2024 Wildfire Season
As we approach the heart of the 2024 wildfire season, property owners and insurance agents face unprecedented challenges. The increasing frequency and intensity of wildfires and other extreme weather events are putting significant pressure on the property insurance market. Let’s look at the current wildfire outlook, its impact on the insurance...
Safeguarding Commercial Properties: Tips to Prevent Winter Fires
Fires in commercial buildings can happen any time of year, but the risk can rise in winter. The colder months often bring increased usage of heating systems and electrical appliances as businesses work to make spaces more comfortable for employees and customers and to keep equipment and other business assets safe and operational. Winter weather...
Protecting Property Owners’ Associations: Understanding Directors & Officers Liability Coverage
Property owners’ associations (POAs), such as homeowners’ associations and condo owners’ associations, play a crucial role in maintaining community grounds, shared buildings, and other assets. However, leading and managing these associations comes with its fair share of responsibilities and potential risks. “The individuals who serve on...
When Winter Drops a Bomb: Understanding Bomb Cyclones
Winter Storm Elliott made headlines in December 2022 for its incredible ferocity and destructive power. Amid the reports, many of us first encountered the term “bomb cyclone.” While not a rare phenomenon, bomb cyclones don’t usually cause the level of damage that Elliott inflicted. Air travel during the 2022 holiday season produced moments...
Rising Catastrophic Losses Underscore the Importance of Property Valuation
For the past several years, catastrophic insurance claims of all types have been occurring more frequently and with increasing severity. The Insurance Information Institute reported $92 billion of insured losses in the United States in 2021 as a result of natural catastrophes to include severe storms, wind, hail, wildfire, flood, and earthquake....
Self-Storage: Opportunity Behind the Rollup Doors
4 Reasons Why Insurance Agents Should Give Self-Storage Risks a Closer Look Self-storage is a superstar in the commercial real estate market. Over the past half-century, the industry has proven itself to be resilient to the vagaries of consumer trends, economic recession, and even global pandemic. As the industry continues to grow, so...
How to Get Your Underwriter to Get Behind Your Risk
Communicating the story of your client’s risk profile can yield optimal coverage at the best rate. One of the most effective ways an agent can streamline the quoting process and get the best rate for a commercial client is by telling your underwriter a story. The story you craft probably won’t begin with “once upon a time,” but it may result in a...