Insights
Keeping you up to date on industry trends so you maintain your competitive edge and provide timely, accurate coverages for your clients.
What to Expect from Commercial 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 conditions. According to Construction Executive,...
Avoid Costly Cannabis Recalls With These Tips
Those of us working in the cannabis industry remember last year’s recall in Michigan. The cannabis recall was the largest in the state’s history, costing over 400 dispensaries nearly $200 million worth of product. But recalls can exact a toll beyond just lost product. In response to recalls, cannabis businesses are faced with costs related to...
Carrie Cheeks Named 2022 “Rising Star” by Insurance Business America
We are excited and proud to announce that our very own Carrie Cheeks has been selected for the Insurance Business America Rising Star Award! For the past seven years, Insurance Business America has celebrated the best and brightest early career insurance professionals with this prestigious recognition. Award winners—all 35- years old and...
Watch Out for These Top Trends in Identity Theft
Halloween is a great reason to don a costume and dress up as someone you’re not, but cybercriminals don’t need that excuse. Through email scams, social media phishing, website spoofs, and other nefarious techniques, they masquerade as someone they’re not—all in an attempt to swipe sensitive or secure information, potentially crippling your...
Florida Condo Property Market Experiences Seismic Shift
The past eighteen months has been a “whirlwind” for the Florida condo market. Just over a year ago, the Surfside Champlain Towers South condo outside of Miami Beach collapsed. This October we saw the devastating effects of Hurricane Ian, which pummeled the Florida coast, costing estimated losses of up to $57 billion. These two major events, in...
Reenvisioning the Role of Insurance in the Midst of a Climate Crisis
It’s difficult to argue that we’re feeling the impacts of climate-related risks and liabilities across all sectors of the insurance industry. However, we are also seeing many opportunities industry-wide to innovate and bring new products and solutions to the market. According to a recent McKinsey article, in the face of the current global...
What Your Clients Need to Know about Florida’s Workers’ Compensation Coverage Requirements
The recent catastrophic weather event, Hurricane Ian, has caused devastating loss to the state of Florida. As those impacted begin rebuilding their businesses, homes and communities, it’s expected that a number of commercial operations will be traveling to affected areas to assist with the recovery effort. With this in mind, it’s important to...
Delta General Agency Corporation Rebrands to Jencap Insurance Services Inc.
Houston, TX (October 4, 2022) – Delta General Agency Corporation (Delta), a full-service specialty wholesale brokerage and managing general agency (MGA), announces a new name and brand identity. Jencap Group, LLC (Jencap) acquired the assets of Delta in February 2022. After a transitional period, Delta will now operate as part of Jencap Insurance...
Jencap Group Acquires Tarheel Insurance Services, Inc.
New York, NY (October 3, 2022) – Jencap Group LLC (Jencap) announced today that it has agreed to acquire the assets of Tarheel Insurance Services, Inc. (Tarheel), a full-service specialty Workers’ Compensation wholesale brokerage based in Statesville, NC. Tarheel will operate under the auspices of the Jencap Insurance Services Inc. (JCIS)...
Cyber Hackers Are Finding Ways Around Multi-Factor Authentication
One of the simplest ways you can protect your accounts from getting hacked is enabling multi-factor authentication (MFA). With MFA, in order to log into an account, a user must provide more than one security credential to verify their identity—such as a password and a one-time code they receive by text message. MFA provides many of us with peace...
Consumption Lounges: A “Budding” Opportunity
With public opinion warming and state legislation loosening around cannabis, a new type of venue is hitting the social scene. Cannabis consumption lounges—sometimes called cannabis bars—are popping up across states that have legalized recreational marijuana. Consumption lounges provide a new opportunity in a very promising market, yet they come...
What to Tell Commercial Property Owners about Rising Valuations and Policy Premiums
When insuring a new commercial property, one of the first steps in the process is to carefully analyze and estimate the property’s total value. For both the insurer and the insured, it is important to get the most accurate valuation possible. On the insurance side, this information gives carriers a sense of how much risk they’re exposing...
Northwestern U. Chemists Discover Simple Way to Destroy ‘Forever Chemicals’
PFAS (per-and polyfluoroalkyl substances), commonly used manufactured chemicals, are often called “forever chemicals,” because they can’t be safely destroyed and take thousands of years to break down naturally. Found in everything from our drinking water to common household products like cookware, cosmetics, and upholstery fabrics, PFAS have...
Employers: Document Workplace Safety Training and Disciplinary Measures
Do you have clients who want to challenge certain Workers’ Compensation claims by citing employee misconduct? According to this recent Business Insurance article, if employers want to challenge federal citations for workplace safety violations, they must demonstrate that they: Provide proper training. Document the organization’s workplace...
Recent Chemical Leak Illustrates Why Transportation Pollution Liability is Essential
A chemical leak in Perris, California forced evacuations and closed a major highway. Nearly 188,000 pounds of the chemical styrene leaked out of a railroad tanker and overheated, becoming potentially combustible. Compounding the problem: the weather in Perris was a steamy 100 degrees, heightening concerns for a possible explosion. This scary and...
Jencap Announces Strategic Promotions to Divisional Management Team
Alpharetta, GA (August 11, 2022) – Jencap Group (Jencap) is pleased to announce two strategic promotions to the divisional management team of Jencap Insurance Services Inc (JCIS). Tara Gudenkauf has been promoted to Property and Casualty Binding Practice Leader and Roman Atkielski has been promoted to Transportation and Garage Practice Leader. In...
Green Construction Projects Come with New Materials, Methods, Risks
Green construction is growing, as companies strive to create more sustainable, energy-efficient, resilient buildings. As this article outlines, however, sustainable construction projects use new technologies, materials, and construction methods that create unforeseen challenges and risks: Most sustainable production plants use emerging...
The What, When and Why’s of Stock Throughput Policies
If your client’s business involves assembling, importing, exporting, manufacturing, transporting, and/or distributing goods—a Stock Throughput Policy (STP) may be needed to cover their risk exposure. What is a STP A STP is a form of marine coverage that protects a company’s goods throughout the global supply chain- from creation to final...
Risk Innovations Rebrands to Jencap Insurance Services Inc.
Atlanta, GA (August 1, 2022) – Risk Innovations, a national wholesaler that specializes in Workers’ Compensation, announces a new name and brand identity. Acquired by Jencap Group LLC (Jencap) in 2018, Risk Innovations will now operate as part of Jencap Insurance Services Inc. (JCIS), a principal division of Jencap. “On the heels of celebrating...
Top 4 Cities at Highest Risk from Hurricanes
A new report shows that New York, Miami, Tampa and New Orleans have the highest risk of heavy property damage from hurricane storm surges. Your clients in these areas need to pay particularly close attention to their insurance policies to ensure they have the protection that they will likely need. As this recent Insurance Journal article...
Top 20 Most Dangerous Jobs in the United States
According to the Occupational Safety and Health Association (OSHA), incidents of worker injury, illness, and death have decreased significantly across all industries. Nonfatal workplace injuries and illnesses decreased by 5.7 percent between 2019 and 2020. Fatal work injury rate fell from 3.5 fatalities per 100,000 full-time equivalent (FTE)...
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