Insights

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 within the community. This includes but isn't...

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Why Large Properties are Harder to Insure in 2021

Why Large Properties are Harder to Insure in 2021

Thanks to a string of natural disasters, the COVID-19 pandemic, supply disruptions, social and civil unrest, production shortages, and a slew of other economic factors, 2020 was one of the most expensive years for the insurance industry since 1970. Insurance loss estimates totaled up to $83 billion, according to Swiss Re Institute—and we’re...

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Getting Speciality Insurance Coverage: How Lloyd’s of London Works

Getting Speciality Insurance Coverage: How Lloyd’s of London Works

What happens when coverage needs fall outside of what a standard insurance carrier can offer? The surplus lines industry is important because it provides a market for insurance covering hard-to-place risks not written by the admitted markets. As such, non-admitted carriers have the ability to accommodate a wide variety of risks. Lloyd's of London...

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Do Artisan Contractors Need Insurance Coverage?

Do Artisan Contractors Need Insurance Coverage?

Artisan contractors are skilled workers who hail from a variety of industries. These trades include carpentry, plumbing, electrical, HVAC, masonry, roofing, and more. If you have clients who work independently, the last issue they want to face is an injury or property damage related to their work. Regardless of how much caution they exercise,...

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How Insurance Agents Can Support Policyholders Amid Fluctuating Construction Costs

How Insurance Agents Can Support Policyholders Amid Fluctuating Construction Costs

Since the onset of the pandemic, there's been a surge in building materials costs – impacting construction and building prices. A combination of increased home projects, a shortage of construction workers, and mill closings have led to building material shortages, creating obstacles for contractors. While these factors have significantly impacted...

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Why Businesses Should Be Concerned About Ransomware

Why Businesses Should Be Concerned About Ransomware

As one of the most dangerous and popular types of malware, ransomware is a growing threat amongst businesses. In the U.S., over 4000 ransomware attacks happen daily. During these attacks, cybercriminals use phishing tactics and network vulnerabilities to access a company's systems and data. They then threaten to either block access to networks or...

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How FEMA’s First Flood Insurance Update in 50 Years Will Affect Rates

How FEMA’s First Flood Insurance Update in 50 Years Will Affect Rates

In the wake of natural disasters, a pandemic, and supply shortages, higher insurance rates are everywhere. Many living in coastal areas or in flood zones can also expect to see higher rates to insure their homes under the Federal Flood Insurance Program. The Federal Emergency Management Agency (FEMA) released new rules in the spring regarding...

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To Package or Not to Package Commercial Insurance Policies?

To Package or Not to Package Commercial Insurance Policies?

From phone, internet, and cable to insurance, everyone loves to bundle. It’s convenient to work with one form, one agent, and one carrier for multiple policies, and bundling everything into one package sometimes saves the insured some money. Business owners needing both property and general liability (GL) policies have long had this option, but...

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What to Do When A Construction Project Is Delayed

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...

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5 Traits of a Good Insurance Broker Partner

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...

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The Return and Rise of the Vacation Rental

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....

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Lessen Your Liquor Liability Risk Memorial Day Weekend

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...

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Lumber Prices Raise New Home Prices by $24,000

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...

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Best Ways to Prevent Home Water Damage

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...

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6 Cybersecurity Practices Underwriters Love

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...

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The Post-COVID Coverages Your Financially Stable Clients Need

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...

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5 Ways Insurance Should Adapt to Severe Weather Trends

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,...

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The Housing Market Flux: What New Policy Holders Want

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...

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Get to Know E.J. Bradley

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...

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