Insights
Property Insurance Trends for 2024
As we approach 2024, the commercial property insurance market is witnessing significant shifts. These trends are particularly relevant for businesses and individuals dealing with specialized properties like coastal, vacant, and habitational real estate. Understanding these trends is crucial for making informed insurance coverage decisions. Key Trends to Watch Increased Focus on Special Risk...
What to Do When A Construction Project Is Delayed
Pandemic-related supply-chain disruptions, manufacturing delays, and labor shortages are leading to building supply shortages and longer wait times for deliveries. 90% of contractors say plywood has been harder to come by, and 75% are finding vinyl siding harder to get, according to a survey by the National Association of Home Builders. Between...
5 Traits of a Good Insurance Broker Partner
Having a good broker partner is essential to getting great rates and giving your clients and insureds stellar service. But how do you find one, or how do you know you have one? When evaluating a broker, there are a few characteristics you should look for in order to rate their quality. Here are 5 traits of a good insurance broker partner. 1. Fast...
A New England “Insurance Legend” Says Goodbye: Hello to Retirement After 40 Years of Service
In New England’s insurance industry, everybody knows him and loves him; some even refer to him as “Hawk.” If you’re in insurance, it’s hard not to know Jim Hawkins, the senior vice president at Quaker Special Risk, since he’s been in the Boston-area insurance scene for over 40 years. Hawk is now trading risk for retirement in June after a...
The Return and Rise of the Vacation Rental
After a year of people being cooped up inside their homes, they’re eager to flee the nest for a change in scenery. With over 35% of the U.S. population now fully vaccinated, many are willing to take a chance on travel and reuniting with loved ones they haven’t seen in months. Google is reporting search queries for hotels and resorts in the U.S....
Lessen Your Liquor Liability Risk Memorial Day Weekend
Your bar, restaurant, and venue clients are usually pretty responsible with making sure their server staff is properly trained when it comes to alcohol consumption. Typically, they require servers to take courses and attain a certification in order to serve alcohol, or before they’re put on the server schedule. However, you might need to remind...
Lumber Prices Raise New Home Prices by $24,000
Toilet Paper, coins, computer chips, homes for sale … The pandemic has led to short supplies of many consumer products, driving up prices. With a lack of available homes, people looking to cash in on low interest rates and buy homes better suited to post-pandemic living have all turned to new construction. In order to build new homes, contractors...
Best Ways to Prevent Home Water Damage
Water damage is one of the leading causes of homeowners’ losses in the U.S. The annual cost of water damage and removal is $13 billion, and the average home insurance claim for water damage is just over $10,000. There are many simple things your clients can do to prevent home water damage, bringing down the number of claims and overall...
6 Cybersecurity Practices Underwriters Love
With more people now working from home, cybersecurity and having cyber coverage are especially important for businesses as cyber criminals have been taking advantage of situations created by the pandemic. With increased remote work, hackers are seeking out flaws in network security and targeting vulnerabilities in virtual private networks and...
The Post-COVID Coverages Your Financially Stable Clients Need
In the wake of the pandemic, people are making life changes, especially those who have the financial ability to do so, trying to best adjust to their “new normal.” With these major changes comes new risks and liabilities requiring different kinds of coverage. Here are some of the biggest changes your most financially stable clients are making and...
5 Ways Insurance Should Adapt to Severe Weather Trends
2020 was an expensive year in natural disasters, contributing to a hard property insurance market. Unfortunately, expensive natural disasters are “trending” and expected to continue this year. Less than normal winter rain and snowfall in regions of California lead experts to believe the state is in for a “worse than average” wildfire season,...
The Housing Market Flux: What New Policy Holders Want
With more people now working from home in the wake of the pandemic, homeowners are realizing some important things: 1) the house trait that used to bug them a little now bugs them a lot 2) in order to continue working and schooling from home, they may need a different living space 3) they’re now free to move someplace else since they work...
Get to Know E.J. Bradley
E.J. is a talented, rising employee who joined Quaker Special Risk at the ground level over seven years ago. He’s now an Assistant VP handling commercial lines and environmental coverage. What brought you to Quaker Special Risk? I knew Jim Andreoli, one of the vice presidents here. When I graduated from college in 2013, he talked me into joining...
Top 5 Solar Industry Trends for 2021
While some industries are struggling in 2021 in the wake of the pandemic, renewable energy is expected to generate more revenue this year. Many new construction projects designed to help businesses move toward carbon neutrality were halted in 2020, and they’re expected to resume in 2021. In addition, the new Biden administration plans to bring...
How to Protect Your Jewelry Collection
The earrings given to her during a memorable Christmas, the ring her grandmother gave her, or the watch he only wears on special occasions--besides being of high monetary value, jewelry pieces may have much sentimental value to your clients as well. They can insure jewelry for its value in case it’s ever stolen or damaged. However, what can they...
5 Reasons to Get Flood Insurance if Not in a Prone Area
Recommending flood insurance to homeowners outside of floodplains can be tough. If they’re not in a prone area and not required to purchase it, they may not see the need or have trouble justifying the expense. However, there are a few reasons flood insurance is still the best option for these clients. 1. If a home is in a “low-risk” flood zone,...
Will Builders Risk Policies Cover COVID-19 Losses?
If mandated shut-downs didn’t halt construction projects on tight deadlines, other factors related to COVID-19 are impacting sites across the globe, causing delays and raising construction costs. If Sal the construction manager’s team of workers are still allowed to show up to work every day, his supplies may not. Stay-at-home orders and...
Best Ways to Protect a Wine Collection
Nothing sets the mood for a gathering of family and friends quite like the perfect wine. Are your clients taking the necessary steps to keep their wine collection safe for years to come? Wine enthusiasts invest a great deal of time and money into their collections, so it’s an asset that should be insured, much like any other valuable collection....
Quaker Special Risk’s Appetite for Market Coverage
Are you hungry for a broker who can serve as a partner for your hard-to-cover risks? Quaker Special Risk delivers knowledgeable E&S Brokers with personalized, high-quality insurance products to retail agents. We have an appetite for four overarching markets: Commercial, Professional, Personal and Environmental. Our deep expertise in these...
Quaker Special Risk is the Largest Lloyd’s of London Partner in New England
From its beginnings in a coffee shop in 1688, Lloyd’s of London has been a pioneer in insurance and has grown to become the world’s leading market for specialist insurance and reinsurance. Lloyd’s has been a major force in the US insurance market for over a century. Throughout the long relationship, Lloyd’s has continuously provided American...
Quaker Special Risk, Powered by Jencap
The recent acquisition of Quaker Special Risk by Jencap LLC (Jencap) makes it part of a collection of elite companies operating in concert to provide comprehensive insurance solutions to their retail agency partners. Jencap is the sixth-largest wholesaler in the United States; totaling 10 companies with more than 40 offices and over 650...