Insights
Keeping you up to date on industry trends so you maintain your competitive edge and provide timely, accurate coverages for your clients.
The True Cost of Inflated Lumber Prices
Homeowner-hopefuls dreaming of their forever home may have to put those dreams on hold—or spend more than initially anticipated. Lumber shortages over the past 18 months and low housing inventory have made buying or building a new home far more expensive than what any of us could have predicted at the onset of 2021. And although some of the housing market disruption we saw earlier this year1 is...
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.
How To Cultivate Your Budding Cannabis Clients
It’s challenging to keep up with the ever-evolving commercial insurance needs of the cannabis industry. Laws are changing – new business types and applications are entering the marketplace – classifications have blurry lines – and insurance coverage needs are a moving target.
2021 Trends for the Construction Industry
As a whole, the construction industry saw a significant surge in the first quarter of 2020, raking in more than $900 billion. Then, the coronavirus hit and slowed some work and new contracts down. But even with the effects of the virus taking hold on the industry, the global industry outlook is set for a 3.2-percent growth this year, bringing...
Workers’ Compensation Cannabis Class Code Roulette
Determining the proper classification for cannabis businesses is not one you want to take a gamble on. If you bet on a specific class code and it isn’t accurate, your client could suffer significant premium penalties at the time of an audit or worse – costly coverage gaps.
Best Ways to Protect a Wine Collection
Nothing sets the mood for a gathering of family and friends quite like the perfect wine. Are your clients taking the necessary steps to keep their wine collection safe for years to come? Wine enthusiasts invest a great deal of time and money into their collections, so it’s an asset that should be insured, much like any other valuable collection....
What a Hardening Market Means for D&O in 2021
Directors and officers might already have enough on their plate when it comes to navigating through the ongoing pandemic. But in 2021, they'll have to add one more challenge: directors and officers insurance. The market has become a hardening market in the last few years as movement like the #MeToo movement has only caused an increase in claims....
Two Things Your Product Recall Requires
If you clients have never experienced product recall, they may not understand the risks involved. You can be a great resource to your clients by mitigating that risk before it puts a strain on their resources. Minimizing the damage your clients may experience as a result of a product recall requires two things: a comprehensive response plan a...
Libations and Salutations: Restaurant Liquor Liability for the Holidays
The most important defense against liquor liability for your restaurant clients this holiday season is prevention through education. In addition to proper liquor liability insurance, it is imperative they create a liquor liability training program for staff members who serve alcoholic beverages. In these training sessions, employees should be...
Who Really Needs Professional Liability Insurance?
Every business in every industry faces its own set of unique risks. But for those who make their living offering a service, such as a contractor, an accountant, or a content creator, for example, dissatisfied clients can also end up presenting challenges and lawsuits. Any business or business owner who sells their expertise should consider...
Stay Cool, but Not TOO Cool: Protecting Workers From Cold Stress
Promoting workplace safety has the dual benefit of protecting employees and simultaneously reducing the risk of Workers' Compensation claims. Improved safety procedures also lessen the frequency and expense of Workers’ Compensation claims. When insurance agents advise their commercial clients about safety best practices, they are providing a...
On the Road: Talking to Your Charter Bus Clients
Having the proper charter bus insurance coverage at an affordable rate can make the difference between the success and failure of your client’s charter bus operation. When your charter bus clients are considered for a job, there are several things they should prepare to share to ensure the safety of the passengers. Safety record and rating. A...
Why You Need Cyber Coverage
It is increasingly important to protect your client against cyber attacks, but the complexity and novelty of cyber threats make it difficult for both businesses and agents to make smart decisions regarding cyber coverage. Finding the right policy for your client starts by assessing their unique position and the risks most relevant to their...
Wholesale Trading Insurance Services Acquires Landmark E&S Insurance Brokers
Wholesale Trading Insurance Services, LLC and their parent company, Jencap LLC announce that they have agreed to acquire privately held Landmark E&S Insurance Brokers, LLC, a specialty wholesale brokerage firm