Insights
Most Popular Luxury Collectible Items
The global collectibles market was valued at around $372 billion in 2020, and it's expected to keep growing steadily at a rate of 7 percent from 2021 to 2028.As a subcategory of collectible items, luxury collectibles are setting record-breaking prices, and are leading to an overall increase in value for the entire collectibles market. Indeed, high-profile sales and auctions of luxury items...
Insuring Private Collections with Specialty Insurance
Private collections, whether they comprise rare art pieces, vintage cars, exquisite jewelry, or other unique treasures, hold immense value not only in terms of monetary worth but also in sentimental value. As insurance agents, understanding the nuances of insuring private collections is pivotal to ensuring collectors safeguard their cherished...
Elevating Coverage: E&S Insurance for Luxury Homes
In the insurance world, high-net-worth individuals often possess unique needs and assets that require specialized coverage. One area that stands out is Excess and Surplus (E&S) insurance, particularly when protecting multi-million-dollar homes.As the value of these properties increases, so does the necessity for tailored coverage beyond...
Why You Need Inland Marine Insurance for Your Cargo’s Journey
If you thought that inland marine insurance is the policy equivalent of marine insurance, you’re not alone; these terms can often get confused with one another. While they share a common lineage in their names, their individual purposes and applications diverge significantly. Marine insurance is rooted...
Latest Data Breaches from Top-Level Companies
Thanks to technological advances, information flows effortlessly across geographic boundaries and the world’s knowledge is just a few, simple clicks away. As our society becomes ever more digitalized, our world is becoming more dynamic and exciting than ever before. And at the forefront of this change is how we view, store, collect, and interpret...
The Top 5 Most Common Causes for Data Leaks
Businesses rely heavily on the internet and big data to remain competitive. The very sustainability of their business operations depend on it. Although both the internet and big data can bring in streams of revenue, the digital world also exposes businesses to harmful data leaks. In this blog, we’ll discuss five main causes that create just the...
Cybersecurity Guide for e-Businesses
The digital revolution has paved the way for e-commerce websites to thrive. Geographical limitations no longer restrict businesses, as customers can be found across various states. Furthermore, transactions can now be completed within minutes instead of days, thanks to efficient, easy to use payment processing and online sales platforms....
The Hardening of the U.S. Commercial Property Market
The hardening of the U.S. commercial property market, where insurance rates are consistently rising in the context of difficult-to-find coverage, is likely to go on for many more years. Experts go as far as claiming that this is the hardest property market that has ever been observed — especially within the last two decades. Rather than one...
Top Environmental Liability Risks That Landscapers Face
From commercial settings that incorporate an abundance of trees and plants, to freshly maintained lawns in front of any given home, the positive impact that landscape businesses provide to our communities is clearly visible. But what about the risks? There are certain state and local regulations regarding pollutants that can expose a landscaper...
6 Reasons Commercial Property Insurance Costs are on the Rise
In the context of economic uncertainty, commercial property insurance rates are on a steep climb — again. But, why is this phenomenon happening? Instead of one single factor driving up the costs of commercial property insurance, there are several reasons why we’re seeing an increase in insurance rates for this market sector. Here are the six...
How Insurance Agents Add Value to High-Net-Worth Clients
Luxury real estate comprises the top 5%-10% of properties in a local market. Most standard homeowners insurance policies are geared toward traditional assets, meaning policy maximums may limit personal replacement when filing a homeowners insurance claim for luxury homes. Insurance agents have a unique opportunity to bring value in high-net-worth...
Why Excess Flood Insurance Is Now a Necessity for Property Owners
Whether floods arise due to severe weather from natural disasters or from backed-up plumbing or broken pipes, homeowners don't always understand the risks associated with flooding or the need for flood insurance. In particular, many homeowners may think flood damage is covered by their traditional homeowner's insurance policy. Even those who...
Technology E&O – Professional Liability: What’s Covered, What’s Not
While technology can improve efficiency and convenience, it's not without risk. Technology E&O insurance protects businesses and their staff from negligence, mistakes, and cyber threats. Learning what E&O insurance is and is not will help you better meet your clients’ needs and make sure you don’t leave them with any gaps. What Is...
Basic Types of Insurance Needed for a Home Healthcare Business
Home healthcare is one of the country's fastest-rising industries, thanks to an aging population, more chronic diseases, and a greater focus on tele-health fueling the growth. The global home healthcare sector was worth an estimated $226 billion last year. By 2027, it's expected to be worth a whopping $340.2 billion. With increasing need and...
Common Gaps in Watercraft & Yacht Coverage
An insurance agent needs to be able to identify the best policy for a client and ensure they have all the coverage they require. If they don’t read the fine print closely or gather enough information about the client’s risks, the client could end up with gaps in their coverage, leaving them vulnerable to unpaid claims. When it comes to...
Ice Dams: Help Your Clients Reduce Claims From This Type of Weather Damage
Untouched snow on the roof of home looks pretty, but this winter's heavy snowstorms mixed with frigid temperatures can cause an ice dam to develop on that roof. Ice dams prevent melting snow from properly draining. This can cause serious damage to insulation, ceilings, and walls if the water seeps inside the home. ... which leads to that...
Why FEMA Maps Can’t Determine People’s Need for Flood Insurance
Extreme floods are exposing issues in the Federal Emergency Management Agency's (FEMA) flood maps, according to a recent article by the Washington Post. Americans rely on these maps to warn about potential flood risks, but that’s creating dangerous situations for residents around the country as it leaves them uninformed about the potential...
Get to Know Jonathan Sweeney, Director of Personal Lines as Quaker Special Risk
Meet Jonathan Sweeney, Director of Personal Lines as Quaker Special Risk. Jonathan has deep expertise spanning over two decades in the insurance industry. In this spotlight video you’ll learn what Jonathan enjoys and what challenges him most about his role at Quaker. You’ll also learn some fascinating facts about his life before insurance! ...
How to Mitigate Liquor Liability During the Holidays
Holiday festivities often center around a toast. So, it’s no surprise drunk driving incidents increase this time of year. Whether your clients serve beer, wine, or cocktails, education is the best way to protect them from liquor liability. A comprehensive training program can prepare staff members for this merry time of year, so here are a few...
Top Five Examples of Directors and Officers Coverage Claims
Twitter recently agreed to pay out $809.5 million in a class-action lawsuit settlement that alleged its executives made inaccurate statements about the site's metrics. When the company's stock took a dive, investors were up in arms over the loss. With settlements hitting these kinds of heights, it's no surprise that the market for D&O...
What Is Tech E&O Coverage and Who Does It Cover?
When automobile autopilots cause a fatal crash, facial recognition software leads to the arrest of the wrong person, or an AI-led recruiting tool shows bias against women, those held liable usually end up having to dole out big bucks to the injured parties. Instances like these are just some of the reasons businesses need Tech E&O (errors and...