Articles

Drilling Down to Access Capabilities Between Wholesalers

Historically, wholesale insurance brokers have been viewed through the limited perspective of being solely a transactional facilitator of submissions or an avenue to access additional markets, especially in the excess and surplus (E&S) marketplace. But now more than ever, the complex nature and specific needs of clients indicate this is an outdated view. Retail insurance agents must decide if...

Senior Care Market Experiencing Revived Competition Amid Hi-Tech Boom

The insurance market for senior care and housing facilities has emerged from the volatile period of the pandemic and is again responsive and competitive. Premiums that were going up considerably are moderating in some subclasses and carriers that pulled away are returning and competing with new entrants. At the same time, the sector is witnessing a technology explosion that promises to address som...

Hotel Industry Pushes Through as Insurance, Economic Uncertainty Builds

A busy summer travel season provided a much-needed boost to the hotel industry but rising insurance costs and other economic factors threaten to undermine the sector’s ongoing recovery. After nearly three years of losses related to COVID-19, hotel industry revenue and occupancy may actually exceed pre-pandemic levels by the end of 2022, according to the American Hotel and Lodging Association (AHLA...

Real Estate Strategy: How to Win in Today’s Challenging Market

The real estate insurance market is in a state of transition. Increased frequency and severity of natural catastrophe losses have taken their toll on the real estate property market. Add in losses due to civil unrest endured in 2020 and top that off with inflation and other economic challenges, the market sees even tougher conditions ahead, says Ryan Flanagan, senior vice president at Heffernan In...

Captives, MGAs, MGUs Contribute to Growing Cyber Insurance Market

The hard market for cyber insurance, which is expected to continue for “some time,” and a lack of capacity has made captive insurers an “attractive risk management option for corporations,” said AM Best in a recent market report. As part of its look at the U.S. cyber market, AM Best said captives can customize policies to allow parent organizations to assess damage and react quicker, but “sufficie...