Insights
Keeping you up to date on industry trends so you maintain your competitive edge and provide timely, accurate coverages for your clients.
NAVIGATING THE NEW FRONTIERS OF PROFESSIONAL LINES INSURANCE
HOW CLIMATE CHANGE IS SHIFTING THE INSURANCE INDUSTRY
GARAGE GURUS: GARAGE COVERAGE EXPLAINED
YOUR GUIDE TO CANNABIS INSURANCE
RIDING THE WAVES OF CHANGE INSURANCE INDUSTRY OUTLOOK
The Benefits of Owner-Controlled Insurance Programs
Owner-controlled insurance programs (OCIPs) are a type of “wrap-up” insurance policy that a property owner can take out for a construction or renovation project. Unlike the traditional construction insurance model — where each contractor or subcontractor secures their own coverage — OCIPs consolidate coverage under a single policy held by the project owner or developer. As Mike Yovino, Jencap...
Construction Lending Roadblocks? Consider a Surety Bond Alternative
Surety bonds are an essential risk-management tool for the construction lending industry. They offer a financial buffer in the event that a project is left incomplete or fails to meet its agreed upon terms and conditions. Although bonds are often a required part of construction projects, there are a number of reasons why securing a bond is not...
Top Things to Look for in a Commercial Habitational Insurance Carrier
Across the board, property insurance is getting hit hard — and the habitational insurance market is not immune. In the face of shrinking capacity and higher premiums, it’s more important than ever for habitational property owners to rely on quality carriers with time-tested reputations. Commercial habitational insurance provides coverage for...
Understanding Motor Truck Cargo Insurance Exclusions
Motor truck cargo (MTC) is a specialized insurance coverage that protects against loss or damage to goods transported by a truck. This insurance product is intended for businesses that haul cargo for others, such as freight forwarders, trucking companies, and shipping companies — including Amazon shipping fleets. MTC coverage is a critical form...
Outsmart QR Code Scammers With These Tips
QR codes have become commonplace in our everyday lives. With a quick scan from a smartphone camera, they offer a fast and easy way to find additional information, access services, or process payments. However, scammers have found ways to take advantage of their popularity and use them to steal money and information. Protect yourself and your data...
Jencap Named Exclusive Distribution Partner for SureBuild’s Project Completion Insurance Product
Modern Construction Risk Management Tool Provides Alternative to a Bond New York, NY (April 25, 2023) – Jencap Group LLC (Jencap), one of the nation’s largest wholesalers, is announcing its exclusive partnership to distribute a new product to the construction insurance market — Project Completion Insurance (PCI). “I see a tremendous amount of...
How to Talk to Clients about Reinsurance and Rising Property Rates
The property insurance market in North America has seen staggering price increases of 20-30%. Understandably, policyholders want to know why. There isn’t a single, straightforward answer unfortunately. The rise in prices is due to a “perfect storm” of factors, including things like the recent uptick in natural disasters, inflation, supply chain...
Prime Examples of Professional Liability Insurance Claims
No business wants to think they might be at risk for a professional liability lawsuit. In an ideal world, most businesses would have happy and satisfied customers because their needs were met properly and completely. In reality, however, even highly skilled professionals with the best of intentions can make missteps and find themselves in a...
Jencap Receives IBA’s 5 Star MGA Award for 2023!
New York, NY (March 22, 2023) — Jencap has been nominated again for Insurance Business America’s 5 Star MGA award. Their survey received over 1,183 nominations and only 23 finalists were nominated. To be considered “five star” a wholesaler must have an average rating of 80% in at least one category. Jencap exceeded that average rating in all ten...
What’s the Difference Between Product Liability and General Liability?
For businesses that manufacture and sell their own products, there’s always a nagging worry that something could go wrong with a product. No matter how carefully a company manages their supply chain or how rigorous they are with product testing, there’s a chance a product could fail, malfunction, or not perform as expected. Often the...
2023 Construction Industry Trends and Challenges
The past few years have been a figurative roller coaster ride for the construction industry. As construction continues to confront things like a declining workforce and inflation, we’re likely to see a few more twists and turns this year. Agents will need to keep a watchful eye on industry trends and what current market conditions may mean for...
Jencap Announces Promotion of Deborah Dioguardi to Professional Lines National Practice Leader
New York, NY (March 7, 2023) – Jencap Group LLC (Jencap), one of the nation’s largest wholesalers, is pleased to announce Deborah Dioguardi has been promoted to the newly created role of Professional Lines National Practice Leader. In this role, Dioguardi will lead our Professional Lines teams and further strengthen our client and carrier...
6 Ways Agents Can Add Value to Their Contractor Clients
Between labor shortages, supply chain delays, interest rate hikes, and building valuation increases, It hasn’t been the easiest year so far for building contractors. The cherry on top has been insurance carriers issuing significant rate increases and cutting coverage for many of their insureds. Jencap has a few ways that you can support your...
Vishing: The Latest Phishing Attack Trend
GoDaddy, an internet domain registrar and web hosting company, recently disclosed that they experienced three cyber attacks in the past three years. Through these attacks, hackers stole GoDaddy source code, employee login info, and sensitive customer account data. They also installed malware on GoDaddy’s servers, which compromised customers’...
Healthcare Ransomware Attacks Double, Driving Up Cyber Premiums
Across the board, we’ve seen a rise in cybercrime over the past few years, and the healthcare sector is being hit especially hard. HIPAA Journal reports that between 2009 and 2022, there were a combined total of 5,150 healthcare data breaches of 500 records or more. Healthcare data breaches have continued to rise over the last decade. (Source:...
Optimization, Accuracy, Sustainability: Last Mile Delivery Trends for 2023
In 2023, delivery companies will need to do more with less. As customers expect next day, same day, and just-in-time deliveries, delivery businesses must meet these demands while cutting costs, boosting accuracy, optimizing resources, and becoming more sustainable. DispatchTrack outlines that it’s essential to understand (and embrace) last mile...
Tarheel Insurance Services Rebrands to Jencap Insurance Services Inc.
New York, NY (January 03, 2023) — Tarheel Insurance Services LLC (Tarheel), a specialty Workers’ Compensation wholesale brokerage, announces a new name and brand identity. Acquired by Jencap Group LLC (Jencap) in October 2022, Tarheel will now operate as part of Jencap Insurance Services Inc. (JCIS), a principal division of Jencap. Bruce Peddle,...
Help Clients and Build Your Business During Economic Uncertainty
2022 was a trying year for businesses and consumers alike, and 2023 will no doubt face its own set of challenges. In an interview with Insurance Business America, Mike Becker, CEO of the National Association of Professional Insurance Agents, offers encouragement to independent insurance agents: “Any sort of economic uncertainty is unnerving to...
Jencap Welcomes Ben Beazley to its National Property Division
New York (December 01, 2022) – Jencap Group LLC (Jencap), one of the nation’s largest wholesalers, announced today that Ben Beazley has joined Jencap as Executive Vice President of National Accounts, Property. In this role, Beazley will focus on the development and recruitment of talent along with the overall growth of Jencap’s property...
Workers’ Compensation Profits Are Strong, but the Future Is Unclear
Underwriting profits for Workers’ Compensation (WC) hit an annual average of $4.8 billion over the last five years, exceeding all other major property and casualty lines. According to a recently released market segment report from credit agency AM Best, WC’s strong favorable loss reserve development drove the favorable reserve development across...
What Contractors Can Expect With Their Insurance in 2023
As we head into 2023, construction contractors should prepare for rate increases of at least 10 percent. Of course, this will vary business to business depending on changes to things like payroll, property values, and previous years’ losses. In addition, different insurance markets are harder than others, depending on current economic and social...
Episode 5: Exploring Specialized Industry Topics with John LaCava
Welcome to Flip the Cap! On this episode of Flip The Cap, Kathryn Smith sits down with John LaCava (Chief Operating Officer of Jencap) to discuss the program management side of the insurance business. They dig into how the shift in the E&S marketplace has impacted programs, the importance of data and analytics in our industry, and Jencap’s...
Episode 4: Breaking Down Important Property Insurance Trends with Ben Beazley
Welcome to Flip the Cap! In this episode, Kathryn Smith discusses important property insurance trends with Ben Beazley, EVP of Property at Jencap. Ben shares valuable information about alternative capital trends, how to best position your insureds for their upcoming renewals, the validity of modeling, trends he expects to see continue in 2023,...
Episode 3: The Ins and Outs of Cyber Liability and Professional Lines
Welcome to Flip the Cap! On today’s show, Kathryn sits down with Deborah Dioguardi, Senior Vice President of Jencap Specialty Insurance Services. Deborah is a highly sought-after Professional, Cyber and Management Liability specialist broker. In the interview, she discusses the interesting evolution of cyber insurance, one of the commonly missed...
Episode 2: Analyzing Marketplace Trends with Jencap President
Welcome to Flip the Cap! In today's episode, Kathryn Smith sits down with Mark Maher, President of Jencap, to discuss everything you need to know about the rapidly changing insurance industry and how Jencap is poised for success. From the war on talent, active M&A environment, climate change and everything in between, you don't want to miss...
Episode 1: All Things Environmental with Canaan Crouch
Welcome to Flip the Cap! Today on the show Kathryn sits down with Canaan Crouch to discuss everything you need to know about the environmental insurance marketplace. Plus, when it comes time to Flip the Cap, Canaan sets a record. You don't want to miss it! Episode Highlights: VERY unexpected "did you know" about Canaan! The Environmental...
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