Insights

Understanding Types of Ownership and Insurance Coverage Options

Understanding Types of Ownership and Insurance Coverage Options

Trusts, estates, LLCs, and family limited partnerships are just some types of ownership used for properties and assets. They're gradually becoming more common because they're a good option for wealth management and the transfer of legal ownership for properties such as rental properties, personal homes, and vacation homes.  The benefits of these ownership types extend beyond wealth management;...

read more
Do Your Clients Need Condo Insurance Coverage?

Do Your Clients Need Condo Insurance Coverage?

Condo insurance protects condo owners from damages to their unit and to their personal belongings. If your clients own a condo, they may think that their condominium association master insurance policy is enough to cover their home; however, that's not the case. The master policy usually protects the exterior of their unit and other common areas...

read more
A Guide to Collectible & Personal Article Floaters

A Guide to Collectible & Personal Article Floaters

It's a common misconception that Homeowners', Renter’s, and Dwelling policies cover all personal property, but that's not the case. While they cover some personal effects, there are often limitations and exclusions on what the policies will pay out, meaning homeowners and renters may receive less than their belongings’ value. Collectible and...

read more
Do Your Clients Need Coastal or High-Value Homeowners Insurance?

Do Your Clients Need Coastal or High-Value Homeowners Insurance?

If your clients own a coastal or high-valued home, standard homeowners insurance may not provide adequate coverage if an unexpected event occurs. Standard middle-market policies leave expensive gaps in coverage for homes that hold high values, typically over $750,000, or home that are located along the coast, in areas vulnerable to disastrous...

read more
2021’s Top Judicial Hellholes

2021’s Top Judicial Hellholes

Throughout the U.S., lawsuit abuse accounts for more than $160 billion in high tort costs and an estimated loss of $143.8 million in lost wages. With such staggering numbers, one particular organization, the American Tort Reform Foundation (ATRF), established the Judicial Hellholes program to gather and report information on various abuses within...

read more
Do Your High-Risk Clients Need Excess & Surplus Insurance?

Do Your High-Risk Clients Need Excess & Surplus Insurance?

Suppose one of your clients is an arborist, who works with dangerous equipment – and in hazardous conditions – regularly. Or you’re working with the owner of a large concert venue who is worried about the risks of hosting large events with huge crowds. In cases like these, insurance carriers may refuse to offer standard coverage due to the higher...

read more
The Ins and Outs of Product Liability Insurance

The Ins and Outs of Product Liability Insurance

Businesses that distribute, manufacture, and sell products must do their due diligence to ensure that they are free of defects. Unfortunately, despite the level of care and effort put into their operations, the possibility for errors remains, leaving the company open to potential claims and lawsuits. Product Liability insurance acts as a safety...

read more
What’s the Difference Between Artisan and General Contractors?

What’s the Difference Between Artisan and General Contractors?

Artisan and General Contractors play critical roles in the building industry. Keep reading to learn more about the differences between the two positions, potential risks, and insurance needs.  General Contractors General Contractors are typically responsible for overseeing big picture projects, including renovations, expansions, and new...

read more
Should Your Clients Sign a Waiver of Subrogation?

Should Your Clients Sign a Waiver of Subrogation?

A Waiver of Subrogation is an agreement between two parties where one party agrees to waive subrogation rights against the other in the event of a loss. In other words, the person who adds this waiver onto their policy is waiving their right to sue the party they added, even if that party was negligent.  A Waiver of Subrogation is commonly...

read more
Are your clients properly protected against environmental exposure?

Are your clients properly protected against environmental exposure?

Independent contractors may need pollution liability insurance, especially if they’re working on jobs with environmental exposures such as asbestos abatement, mold removal, or stripping lead paint. This insurance is often necessary in addition to general liability to protect contractors against liability from damage – including injury or illness,...

read more
The Most Common E&S Commercial General Liability Classes

The Most Common E&S Commercial General Liability Classes

Protecting businesses is a top priority. Admitted, or standard insurance companies, may be hesitant to cover businesses that have hazardous working environments, use dangerous equipment, or have a history of claims. Obtaining Commercial General Liability coverage from the Excess and Surplus (E&S) marketplace may be the only option available....

read more
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...

read more
The Ins and Outs of Monoline Wind-Only & Wind Deductible Buybacks

The Ins and Outs of Monoline Wind-Only & Wind Deductible Buybacks

Worsening weather conditions are leaving homes and commercial properties damaged throughout the country as they're hit by hurricanes, torrential wind and rain, and tornadoes. Even the sturdiest structures are being put to the test. With the potential for dangerous conditions increasing and the rising cost of building materials and labor,...

read more
Primary vs. Excess Flood Insurance

Primary vs. Excess Flood Insurance

Industry jargon can easily leave your clients thrown off and confused. For example, when considering insurance coverage options and recommendations, your clients may be unfamiliar with terms like "primary" and "excess," resulting in inadequate coverage in the event of a flood. When selecting policies, it's critical to know the coverage's...

read more
Insurance Appraisals: What are Inspectors Really Looking For?

Insurance Appraisals: What are Inspectors Really Looking For?

Insurance appraisals play an essential part in determining coverage types and costs for a property. Unlike a purchase appraisal, insurance appraisals don't consider a property's market or land value like they would for the sale or refinancing of a property. Instead, inspectors conduct an in-depth assessment to determine the property's replacement...

read more
Admitted and Non-Admitted Insurance Carriers—What’s the Difference?

Admitted and Non-Admitted Insurance Carriers—What’s the Difference?

Looking at your coverage recommendations, your clients may not know the difference between admitted and non-admitted insurance carriers, and the benefits and drawbacks to each. Here’s a brief explanation you can use to help them understand the difference. If someone needs insurance for a situation that’s considered “high-risk,” they may be...

read more
Why It’s Important to Do Business with an A-Rated Insurance Carrier

Why It’s Important to Do Business with an A-Rated Insurance Carrier

When considering insurance carriers, selecting a company that's fully capable of fulfilling its obligations is critical––especially if you experience a loss and need to file a claim. Like businesses in any industry, some insurance carriers are more reputable than others. So you help your clients shop for insurance, one thing to consider is the...

read more
Can You Insure That? Our Most Unusual Excess and Surplus Policies

Can You Insure That? Our Most Unusual Excess and Surplus Policies

In the world of insurance, it's not uncommon to seek out property and casualty policies. But what about situations that require coverage for more bizarre items or circumstances? At Quaker Special Risk MA, we're focused on providing clients with the best coverage, no matter how “outside-the-box” the situation is. Here are a few of the wacky...

read more
Does Your Business Need Active Assailant Coverage?

Does Your Business Need Active Assailant Coverage?

From schools and grocery stores to movie theaters and nightclubs, active assailant events with mass casualties have become far too familiar. Although traditional insurance coverage like property and casualty can provide a layer of security in the wake of these tragedies, there can be sizable coverage gaps when it comes to active assailant...

read more
Is Flood Included in Homeowners Coverage?

Is Flood Included in Homeowners Coverage?

According to the Insurance Information Institute, less than 20 percent of U.S. homeowners have flood insurance, despite floods being the most costly natural hazard in the country. Many are either unaware that their insurance policies lack flood damage coverage or underestimate the likelihood of experiencing a flood-related incident.  Under most...

read more