Articles

Embedded insurance is everywhere. From booking a flight or buying concert tickets to opening a bank account, insurance is now being offered to consumers at the point of need. It makes access quicker, simpler, and more appealing for people who may not have sought it out otherwise. But while embedded insurance has become a popular concept for consumers, the commercial auto insurance industry is just...

Vendor-related risks, whether from technology suppliers or non-technology partners, have always been a concern and often drive a large number of cyber insurance claims notifications. Vendor risks have traditionally come in the form of data breaches, but increasingly, ransomware attacks and outages are driving more severe first-party losses. Supply-chain attacks are not the only risk involving vend...

Everyone knows that an ISO Commercial General Liability (CGL) policy does not cover the use of autos other than some limited coverage such as accidents arising from, for example, valet parking on or next to owned or rented premises. And, of course, there is coverage for motor vehicles that qualify as "mobile equipment." Aside from that, the CGL policy excludes the "ownership, maintenance, use or e...

The boundaries between work and home have never been blurrier. The shift to remote and hybrid environments brought flexibility, but for insurers and employers alike, it also introduced a new exposure: harassment claims in the virtual workplace. According to the most recent data from the U.S. Equal Employment Opportunity Commission (EEOC), harassment charges jumped 47% over the last three years, to...

As consumers embark on a non-stop quest to find those perfect, Instagram-able moments, wineries and breweries are responding. Today, beer and wine tourists can step out of the taproom and sip Chardonnay by the pool, listen to live music, and even enjoy an invigorating hike. While this dramatic rise in entertainment and adventure options generates plenty of buzz, it also creates new risks for brewe...

One of my favorite recent additions to our Academy of Insurance catalog has been our How To Write series. We have used this series of sponsored content to highlight niche markets so agents can be exposed to what makes for a great risk in different categories. One of the niches we explored last year was the family entertainment space. If you haven't checked out that class, visit: www.ijacademy.com...

Technology is playing a bigger role in entertainment than ever before. Today's film and television industry is becoming more digitized in production, in particular, with physical risks being replaced by digital risks. "We're seeing technology increasingly play a more important role in film production," said Fred Milstein, CEO of Media Guarantors, a CAC Group company. "I'm not even getting to AI te...

Being an expert in workers' compensation has become a coveted differentiator for insurance agents and brokers. Unlike some of the more commoditized insurance lines, workers' comp demands specialized knowledge-from industry-specific classification codes and experience modification calculations to injury prevention strategies and claims advocacy. There are some concrete marketing approaches that can...

Healthcare providers, insurers, and underwriters face potential shifts in healthcare liability regulations under the new presidential administration in 2025. Here are five key steps to help navigate these changes: 1. Stay Informed About Policy Shifts. The new administration may introduce reforms or changes in medical liability laws, such as tort reform or changes in malpractice insurance regulatio...

The workers' compensation market appears to be doing well again. Ahead of its annual "State of the Line" report to be released in early May, National Council on Compensation Insurance (NCCI) Chief Actuary Donna Glenn told Insurance Journal that while NCCI can't predict the future, there doesn't appear to be any "imminent reversal" to these positive current trends. NCCI's 2024 report showed that wh...

Buyers of directors and officers (D&O) liability insurance have benefited from strong capacity and healthy competition among insurers to see consistent rate decreases at renewal over the last several years. Those days may be coming to an end thanks to a growing number of risk complexities within the marketplace--and the past may come back to bite, as well. Insurance industry rating analysts fr...

This market has opened the door for new business opportunities for specialists in hospitality. As restaurant owners search for ways to save money they are more willing to "shop" their insurance. "It helps to get your foot in the door," John Parkhurst, Hospitality Practice Leader, Trucordia, said. Start by offering to take a look at their insurance portfolio especially when you know a carrier incre...

The global boat insurance market size was projected at $1.8 billion in 2024 and is expected to hit $2.6 billion by 2032. The U.S. region accounted for an 87% share of the boat and yacht insurance market. In 2023, the boat insurance segment accounted for over 63% of the boat & yacht insurance market share and is expected to exceed $1.7 billion by 2032. Boat insurance includes smaller recreatio...

This year restaurants and bars continue to grapple with many of the same challenges they faced in 2024. The rising cost of labor and food, along with the ongoing struggle to recruit and retain employees, remain among the top concerns for restaurant operators nationwide. The good news: the restaurant industry is expected to reach new sales heights again in 2025, according to the National Restaurant...

Faced with heightened climate risks and political uncertainties, insurers writing agribusiness and farm and ranch are deploying data analytics and technology as they grapple with a hard market and the need for greater transparency with their agricultural clients. Insurers are turning to a variety of models for risk assessment and using the data to determine how to accurately assess and price risks...