Insights

How the Personal Lines Insurance Sector Will Fare in 2022

How the Personal Lines Insurance Sector Will Fare in 2022

At the beginning of 2021, higher surplus levels and favorable risk-adjusted capitalization helped the Personal Lines insurance sector. The segment overcame obstacles related to current conditions and returned to pre-pandemic frequency trends, navigated increased loss cost severity, and higher than average catastrophes. As we look ahead at what's in store for 2022, the outlook for the Personal...

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WHAT YOU NEED TO KNOW ABOUT RECONSTRUCTION COSTS

WHAT YOU NEED TO KNOW ABOUT RECONSTRUCTION COSTS

When a building is destroyed, your insurance company will work to make you or your business whole. In most cases, the insurance company will pay for reconstruction so that you can continue to live or work the way you did before the loss. There are many factors that govern how much it will cost to rebuild. There are higher costs associated with...

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OWNERS INTEREST CGL, OCP COVERAGE AND WRAP-UPS: WHAT’S THE DIFFERENCE?

OWNERS INTEREST CGL, OCP COVERAGE AND WRAP-UPS: WHAT’S THE DIFFERENCE?

During a construction project, a number of risks can arise. Property owners have several insurance options available to manage risks. There are three major types of insurance policies available to make sure that you are covered: Owner’s Interest Policies, Owners and Contractors Policies and Owner Controlled Insurance Policies, which are also...

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WHY INDEPENDENT AGENTS SHOULD CHOOSE INDEPENDENT BROKERS – LIKE QSR

WHY INDEPENDENT AGENTS SHOULD CHOOSE INDEPENDENT BROKERS – LIKE QSR

As an independent insurance agent, you know the unique benefits you offer to your clients. You can offer highly customized and personalized care. You can operate quickly to get them the coverage that they need. You are personally invested in giving them the service and protection that they need. When you work with an independent insurance broker,...

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WHAT YOU NEED TO KNOW ABOUT THE BLOCKED OVERTIME PAY RULE

WHAT YOU NEED TO KNOW ABOUT THE BLOCKED OVERTIME PAY RULE

A U.S. District Judge issued a preliminary injunction last month, preventing the new overtime law from going into effect on December 1st as planned. The rule would have affected over 4 million Americans. The new Labor Department rule would require employers to pay time and a half to employees who work more than 40 hours per week and earn less...

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4 REASONS TO ADDRESS ICE DAMS BEFORE TEMPERATURES DROP

4 REASONS TO ADDRESS ICE DAMS BEFORE TEMPERATURES DROP

While ice dams are an issue that crops up when the weather gets cold and wet, that is not the ideal time to deal with them. You can do better by preventing the issue before it ever happens instead of playing catch up when you already have ice dams on your home. A few of the reasons to address ice dams now: Prevention is better than fixing after...

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NANCY FLEK RETIRING AFTER 19 YEARS

NANCY FLEK RETIRING AFTER 19 YEARS

After 19 years of dedicated and loyal service, Nancy Flek will be retiring on September 9, 2016. Nancy has been QSR’s beloved receptionist since September of 1997. Over the years, she has truly enjoyed the daily contact with our Agents and Carriers. Nancy prides herself in having provided prompt, courteous, and professional service to all of...

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ARE YOU PREPARED FOR THESE 5 HIDDEN BACK-TO-SCHOOL INSURANCE RISKS?

ARE YOU PREPARED FOR THESE 5 HIDDEN BACK-TO-SCHOOL INSURANCE RISKS?

The change of seasons means that it’s time for students, both young and old, to head back to school. As a result, your clients will be facing risks that are not an issue at other times of the year. Make sure that you and they are prepared for higher insurance risks in these five areas: Car accident risk from young drivers. A regular commute to...

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5 WAYS TO MITIGATE BUSINESS PROPERTY RISKS

5 WAYS TO MITIGATE BUSINESS PROPERTY RISKS

Do you know which risks are most prevalent in the area where you own property? Which losses are the most likely to occur and which will cost the most? By assessing your business property’s specific risks and working to mitigate them in advance, you can reduce the chances of a loss. Here are a few ways to take care of some of your most common...

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ROOFING IS A RISKY JOB! 4 TIPS FOR PROTECTING COMMERCIAL ROOFERS

ROOFING IS A RISKY JOB! 4 TIPS FOR PROTECTING COMMERCIAL ROOFERS

The New England construction season is in full swing and that means lots of people on rooftops installing new roofs or making repairs. To comply with your insurance requirements and more importantly to keep your workers safe, keep these roofing safety tips in mind: Check the area for hazards. Point out all power lines above and keep workers clear...

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THE EFFECTS OF THE JUSTICE DEPARTMENT’S “YATES MEMO” ON D&O COVERAGE

THE EFFECTS OF THE JUSTICE DEPARTMENT’S “YATES MEMO” ON D&O COVERAGE

The memorandum “Individual Accountability for Corporate Wrongdoing,” reinforces the Justice Department’s commitment to targeting individual corporate executives when there is corporate wrongdoing. Because of this, the memo, colloquially known as the “Yates Memo” will likely have ripples that touch Director & Officers insurance coverage. A few...

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PREPARING YOUR RESTAURANT OR HOTEL/MOTEL FOR TOURIST SEASON? 3 RISKS TO CONSIDER.

PREPARING YOUR RESTAURANT OR HOTEL/MOTEL FOR TOURIST SEASON? 3 RISKS TO CONSIDER.

Tourists flock to New England when the weather warms up. To be prepared, you need to find sufficient staff, get your property ready, and make sure you have the right General Liability, Property and Liquor Liability policies in place to protect your business. To ensure that you are meeting the requirements of your insurance and safeguarding your...

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3 TIPS TO PROTECT YOUR ENVIRONMENTAL CONTRACTORS FROM SITE POLLUTION EXPOSURES

3 TIPS TO PROTECT YOUR ENVIRONMENTAL CONTRACTORS FROM SITE POLLUTION EXPOSURES

The New England construction season is heading into high gear as the weather gets warmer. In construction, sometimes it is impossible to completely avoid working with polluting materials. To keep your crew safe, take precautions to protect them from exposure to dangerous site pollutants. Make sure workers are well-trained. Every time a new worker...

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4 REASONS NON-PROFIT BUSINESSES NEED JUST AS MUCH OR MORE CYBER COVERAGE

4 REASONS NON-PROFIT BUSINESSES NEED JUST AS MUCH OR MORE CYBER COVERAGE

Cyber insurance is still a new idea to many organizations. But, data breaches are becoming more popular and the consequences of them more severe. As a non-profit, you may feel that you do not have the same risks as a for-profit company. However, there are many reasons that your organization can be vulnerable and why it can be just as or more...

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4 TIPS YOU SHOULD KNOW BEFORE STARTING A HOME RENOVATION OR ADDITION PROJECT

4 TIPS YOU SHOULD KNOW BEFORE STARTING A HOME RENOVATION OR ADDITION PROJECT

Is it time for your New England home to get a face-lift? A home renovation takes a lot of planning and trust to come out right. Keep these tips in mind to make your renovation go smoothly and to end up with results that you want. Get multiple quotes. Before you hire a contractor, it’s important to see what others in the area want for the job. You...

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3 MERGERS AND ACQUISITIONS AFFECTING THE EXCESS AND SURPLUS LINES MARKETPLACE

3 MERGERS AND ACQUISITIONS AFFECTING THE EXCESS AND SURPLUS LINES MARKETPLACE

This is proving to be a turbulent year for the excess and surplus lines marketplace. Price pressures, low asset yields and diminishing favorable loss reserve developments have weakened profitability. There has also been some churn in the industry, with mergers and acquisitions shaking things up in the marketplace. A few important changes: The...

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5 SEASONAL RISKS CONTRACTORS SHOULD BEWARE OF THIS SPRING

5 SEASONAL RISKS CONTRACTORS SHOULD BEWARE OF THIS SPRING

Just like other New Englanders, contractors welcome spring’s relief from cold, wet and snowy conditions. But, there are a number of risks that need to be on your mind as the season changes to keep your workers safe and your insurance costs low. Before heading out into pleasant spring weather to do a job, check out our safety tips and spring...

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TIPS TO USE YOUR HEAT EFFECTIVELY THIS WINTER

TIPS TO USE YOUR HEAT EFFECTIVELY THIS WINTER

Winter heating costs can take a bite out of your budget in New England. Even with this year’s lower energy prices, the Department of Energy still estimates that the average household could shell out as much as $2,500 or more to keep warm over the colder months. Doing what you can to use your heating system efficiently can help you stay...

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