Insights
Keeping you up to date on industry trends so you maintain your competitive edge and provide timely, accurate coverages for your clients.
5 Cyber Trends Your Insureds Need to Know
Hackers recently used ransomware against a major gasoline pipeline to halt distribution, costing the company millions of dollars and creating chaos across the southeastern United States. A cyber attack on the world’s largest meat producer last month also forced the shutdown of all its U.S. beef plants, wiping out production from facilities that supply almost a quarter of American beef supplies....
Jencap Announces Acquisition of U.K.-based Lloyd’s Coverholder
Worldwide Special Risks to Provide Essential Live Event Coverage New York, NY (July 8, 2021) – Jencap Group, LLC (Jencap), the wholesale program management and binding authority business of Galway Insurance Holdings LP (Galway), has acquired London-based Worldwide Hole ‘N One Ltd. (WHNO). Through its primary brand, Worldwide Special Risks (WWSR),...
MiniCo Insurance Agency Announces Rebrand as a Jencap Company
MiniCo's new brand reflects its association with parent company Jencap Group, LLC (Jencap). Under the Jencap umbrella, MiniCo is now one of the largest program administrators in the United States. Phoenix, AZ (July 1, 2021) – MiniCo Insurance Agency, a leading program administrator offering specialty programs for a variety of industries, today...
Jencap Group Announces New President
We are pleased to announce that Mark Maher has been promoted to President. In his new role, Maher will work with the Jencap management team to develop strategic plans, drive overall growth initiatives, manage carrier and broker relationships, and work with affiliate company leaders to achieve an effective cross-selling practice; all the while...
Genesee General Announces Rebrand: Will Operate as Jencap Insurance Services Inc.
Atlanta, GA (June 1, 2021) – Stringer Ware and Company Inc. DBA Genesee General, managing general agency, program administrator and wholesale insurance broker, is pleased to announce a new name and brand identity. Effective immediately, Genesee General will operate as “Jencap Insurance Services Inc.,” a newly formed division of parent company,...
How Lumber Prices Are Impacting the Insurance Market
What toilet paper was to us in 2020 is now what lumber is in 2021. A number of colliding factors have caused a massive lumber shortage. Add a high demand to that, and the conditions are continuing to drive up prices. The price of lumber is not just up 25 or 50%; it’s up 193% since last year, and it’s about to go even higher! Now, anxious...
The Top 7 Construction Trends of 2021
In 2020, the pandemic changed how everyone did business, especially the construction industry. Looking at 2021, businesses will continue to evolve due to the COVID-19 fallout. In addition, the construction industry is also being impacted by the rise of new technology, as well as a rise in construction costs, labor shortages, and stricter...
Prime Examples of Professional Liability Insurance Claims
Do you offer your clients the option of getting professional liability insurance as part of their total coverage packages? If so, it's essential to communicate to them what the most common professional liability claim types are. Although no client likes to consider that they might be at risk of a professional liability lawsuit someday, the...
Top 5 Home Health Trends of 2021
Our nation’s healthcare system will become much more strained as the Baby Boomer generation (born between 1946 and 1964) passes retirement age, and the need for home healthcare services will rise dramatically. The population eligible for Medicare in the U.S. in 2000 was 35.1 million, but that number will be almost double at 69.7 million by 2030....
The Pandemic’s Impact on the Transportation Industry
If you insure truckers, trucking companies, or other clients that conduct business in the transportation sector, you may be wondering what impact the pandemic has had on the industry as a whole. Although transportation is generally considered an essential service, the pandemic left nearly no industry unaffected, transportation included. Your...
5 Reasons Pollution and Environmental Claims Are Rising
Increasing natural disasters and folk hero icons like Greta Thunberg have recently made climate change a major topic in the media. Also increasing over the last few years are environmental insurance claims, while capacity is shrinking at the same time (Willis Towers Watson). According to Risk and Insurance, there are a few reasons for the rise in...
FAQ Regarding Professional Liability Insurance
Also referred to as errors and omissions insurance or an E&O policy, professional liability insurance is coverage for professional services such as accounting, medical or healthcare, and legal work from claims filed by their clients for acts of negligence. Many of the professionals working in these fields don't have an accurate understanding...
How COVID Continues to Impact Construction Market
The impacts of COVID-19 have stretched beyond the healthcare industry, impacting everything from computer security to construction. Those in the construction industry, whether supply chain vendors, contractors, developers, owners, and others, have all had their businesses affected by the pandemic. The varying requirements across the country for...
Is a Large Deductible Plan Right For Your Client?
A Workers’ Compensation large deductible plan provides the same coverage as a guaranteed insurance plan – in fact, it is a guaranteed insurance plan with a special deductible endorsement. The deductible size for these plans generally ranges from $100,000 to $1,000,000 per occurrence. Large deductible plans are not for every company, but some...
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,...
What is Garagekeepers Liability & Who Needs It?
When people bring vehicles to auto repair shops, garages, or towing companies for repair or maintenance, they trust these professionals to protect their cars from damage. As service providers, your clients are liable for the vehicles' safety while in their care. Unfortunately, accidents can and do happen, making both garage liability and...
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...
Jencap Company NIF Group Acquires Pacific Coast E&S Insurance Services
NIF Group, and its parent company, Jencap Group, announced today they have agreed to acquire the assets of Pacific Coast E&S Insurance Services (PCES), a specialty wholesale brokerage and MGA firm. The acquisition of PCES continues to expand Jencap’s overall growth as a specialty insurance distribution business, including managing general agents (MGA), program managers and transactional wholesale brokers.
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...
The Struggles with Securing Transport Excess Liability
Excess Liability Coverage--It’s something every trucker or trucking company needs, and right now, many are having a hard time affording it. … and sometimes finding it. Rates have risen an average of 10-15% every year since 2010, and unlike Jencap, some carriers won’t provide it anymore. Experts say the pandemic has given insurance companies a...
Up in Smoke: Insuring Cannabis-Related Businesses
The sale of legal cannabis is projected to reach $20 billion within three years. With 33 states passing laws to legalize medical cannabis and 11 allowing recreational marijuana, the insurance industry is beginning to take notice.