How Extreme Weather Events Affect Your Insurance Rates

The Mid-Atlantic’s coastal region is susceptible to storms and hurricanes, which creates additional risk for insurers, and more difficulty securing coverage. Extreme weather events — such as hurricanes, tornadoes, hailstorms and wildfires — continue to make headlines as they become increasingly devastating and costly. These events aren’t limited to one geographic area, impacting businesses across…

Details

2023 Cyber Insurance Market Outlook

Evolving technology, increasing threat vectors and growing attacker sophistication has continued to drive up both the frequency and severity of cyber incidents, resulting in an ongoing rise in cyber insurance claims and subsequent underwriting losses. Amid these market conditions, most policyholders experienced higher cyber insurance rates throughout 2022. In addition to elevated premiums, insureds have…

Details

11 Common Restaurant Risks

Those who run restaurants are often some of the most passionate business owners, investing time and money to deliver a high-quality experience to their customers. However, the hospitality industry can be unforgiving, and it’s a constant challenge for owners to deliver exceptional food and service while maintaining profitability. These challenges are magnified when you consider…

Details

Completed Operations Liability Considerations

Contractors and subcontractors in the construction industry face a wide range of completed operations liability exposures. After all, various construction tasks carry risks of third-party bodily injuries or property damage that may result from the finished work, possibly leading to costly lawsuits. Even quality workmanship is not immune to potential completed operations losses. Yet, considering…

Details

We Love Our Communities!

For the ninth time in 17 years, Americans living in homeowners associations, condominiums and housing cooperatives say they’re overwhelmingly satisfied in their communities. The 2022 survey conducted by Zogby Analytics for the Foundation for Community Association Research reveals these encouraging numbers: 87% think the members of the elected governing board, “absolutely” or “for the most…

Details

2023 Commercial Auto Insurance Market Outlook

The commercial auto insurance market has faced substantial underwriting losses and diminished profitability for more than a decade. While the segment continues to face difficult market conditions, rate increases largely remained in the single digits in 2022, demonstrating signs of stagnation compared to double-digital rate jumps that took place in prior years. Nevertheless, several cost-driving…

Details