Articles

How Homeowners Insurers Can Prepare for the Cannabis Era

Talk about a growth market. Since Colorado and Washington became the first to pass state laws designed to legalize certain sale and consumption of recreational cannabis in their respective states in 2012, 15 other states have followed suit — including several states in the early months of 2021. While cannabis remains a Schedule 1 controlled substance under federal law, several states have enacted...

Catastrophe Bond Market Breaks New Record with $8.5 Billion of Securities Issued

Catastrophe bonds broke a record during the first half of the year with about $8.5 billion of new securities issued, according to a report from Swiss Re AG. The insurance-linked securities market could end up with more than $10 billion in issuance for the full year, the reinsurer said in a report released Wednesday. The market was helped in part by older securities that matured and gave investors...

How Evolving Copyright Law Is Opening New Doors for Litigation

There has been a substantial uptick in litigation involving copyright infringement in the music industry thanks a groundbreaking decision involving the 1977 hit “Got to Give It Up.” The dispute involved Marvin Gaye’s “Got to Give It Up” and the 2013 pop hit “Blurred Lines” by recording stars Robin Thicke and Pharrell Williams. The “Blurred Lines” decision by federal jury in Los Angeles found that...

Understanding Today's Flood Risks, Upcoming NFIP Changes from Risk Rating 2.0

Flooding is the costliest — and the most common — natural disaster to significantly impact communities across the United States, The PEW Charitable Trust notes in its reporting on flood-prepared communities. Flood events have accounted for more than $850 billion in damage and losses in the U.S. since 2000, the global nonprofit, nongovernmental organization points out. It doesn't take a hurricane t...

A Sure-ty Bet: Why Agents Should Specialize in the Commercial Surety Space

Agents with clients who need license and permit bonds, miscellaneous bonds, court bonds, or any number of bonds classified as “commercial,” should think twice about letting this business go to a competitor. Commercial surety is a great supplemental product that can be added to an agent’s portfolio to meet the needs of clients and further cement a customer relationship. Too many agents view surety...