Insights

Keeping you up to date on industry trends so you maintain your competitive edge and provide timely, accurate coverages for your clients.

NIF Group Rebrands to Jencap Specialty Insurance Services Inc.

NIF Group Rebrands to Jencap Specialty Insurance Services Inc.

MANHASSET, NY (Oct. 1, 2021) – NIF Group (NIF), a national wholesaler and managing general agency based in New York, is pleased to announce a new name and brand identity. NIF will now operate as Jencap Specialty Insurance Services Inc. (JSIS), a division of parent company, Jencap Group LLC (Jencap). “This is our fifth affiliate company to be rebranded to Jencap. The consolidation of our legacy...

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How To Avoid a Garage Keepers Legal Liability Claim

How To Avoid a Garage Keepers Legal Liability Claim

Business owners who operate dealerships, garages and auto repair shops are responsible for keeping their client’s automobiles safe while in their care, custody and control. To avoid paying out of pocket for any damage you cause to a customer’s vehicle while undergoing service or repair, it’s important to have Garage Keeper’s Legal Liability...

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Jencap Acquires Quaker Special Risk

Jencap Acquires Quaker Special Risk

Jencap a specialty insurance business, announced today that it has agreed to acquire privately-held Quaker Agency, Inc. T/A Quaker Special Risk and Quaker Insurance Agency of Massachusetts, Inc.(Quaker), a specialty program administrator and wholesale brokerage with offices in New Jersey, Massachusetts, Florida and North Carolina. The acquisition of Quaker is the tenth transaction by JenCap since its founding, and places the company among the largest specialty insurance distribution platforms in the U.S

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The Grass is Always Greener With Pollution Coverage

The Grass is Always Greener With Pollution Coverage

Pollution liabilities can impact almost all business types – and if not properly protected, the financial consequence of a loss could cost millions of dollars. Clean up expenses, litigation and fees add up quickly; and that doesn’t even factor in the risk to professional reputation and public image. It is essential that your commercial clients...

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Ocean Marine: 3 Ways Your Client May Be At Risk

Ocean Marine: 3 Ways Your Client May Be At Risk

There are inherent risks to water-based activity, and we aren't talking about sea monsters. When water is involved, exposure exists, and your clients need to be protected. Here are three areas of potential risk: 1. Exposure accumulation in shipping. Cargo policies have a set coverage limit to cover losses or damage to goods. However, delays are...

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4 Things Your Client Must Know about Contractor General Liability Insurance

4 Things Your Client Must Know about Contractor General Liability Insurance

For businesses that utilize subcontractors, Contractor General Liability (CGL) insurance is an absolute necessity.  If a subcontractor hired by your client’s business causes damage, your client’s business can be on the hook for financial compensation to the injured party - this is where CGL insurance comes in. CGL insurance coverage protects your...

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Come Fire or Flood… Why You Need Dealers’ Open Lot Insurance

Come Fire or Flood… Why You Need Dealers’ Open Lot Insurance

Dealers Open Lot insurance is essential for used auto dealers. Without it, businesses could end up on the hook for large losses if damage is caused to their fleet of vehicles. How does dealers' open lot insurance work? Dealers Open Lot (DOL) insurance provides auto physical damage coverage on a fleet of vehicles owned by a licensed auto dealer....

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When the Bull Sues the China Shop

When the Bull Sues the China Shop

If your client doesn’t have product liability insurance for their business, they shouldn't be in the business of creating products. Sounds like a bold claim, doesn't it? But let’s examine the facts as to why: In the event of an accident, it is up to the court to determine if negligence occurred and whether or not the manufacturer/seller should be...

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The Difference Between Excess and Umbrella Insurance

The Difference Between Excess and Umbrella Insurance

Businesses across all industries should be operating with adequate liability insurance coverage. This insurance helps these businesses pay for damages, which is money that is paid out to anyone who is injured in some way and for the expenses associated with the claim. But this type of coverage can be limited, only covering clients up to policy...

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The Benefits of Owner Controlled Insurance Programs

The Benefits of Owner Controlled Insurance Programs

Owner Controlled Insurance Programs or OCIPs (often referred to as “Wrap-Ups”) are insurance policies taken out by a property owner where construction is taking place. OCIP plans provide blanket coverage for the contractors and subcontractors working on the project to ensure that all eligible parties have sufficient liability coverage. Rather...

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Owner-Operators and Transportation Insurance

Owner-Operators and Transportation Insurance

Owner-operators in the transportation industry must carry the proper insurance coverage for the types of jobs they take on, particularly because the brokers and motor carriers they work with often pass the burden of maintaining proper insurance off to them directly. Insurance agents are such a valuable resource to owner-operator transportation...

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A Closer Look at Punitive Damages

A Closer Look at Punitive Damages

Depending on what part of the country your clients live and work in, most states allow punitive damage insurance coverage. The issue of whether or not to insure punitive damages has been the source of some confusion and frustration. But before more confusion is added to the conversation, it’s best to get a better look at what punitive damages are...

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How to Avoid an Errors & Omissions Claim Amid COVID-19

How to Avoid an Errors & Omissions Claim Amid COVID-19

Insurance agents across the country are being inundated with coverage questions as a result of the COVID-19 virus. As the governing authorities tighten restrictions on large gatherings, questions are rolling in about special events coverage. As restaurant businesses shift towards delivery services, questions are coming in regarding Hired and...

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COVID-19 Dramatically Increasing the Work From Home Population – Now What?

COVID-19 Dramatically Increasing the Work From Home Population – Now What?

As the coronavirus disease 2019 (COVID-19) outbreak continues to spread at a rapid pace, Risk Innovations has received an increased number of inquiries regarding work-related COVID-19 claims. Coverage varies with Workers’ Compensation statutes from state-to-state, so all cases reported are evaluated by our carrier partners directly based on the...

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Why Workers’ Compensation COI Programs are Essential for Construction Clients

Why Workers’ Compensation COI Programs are Essential for Construction Clients

Certificates of Insurance programs are the cornerstone of Workers’ Compensation protection in the construction business. A Certificate of Insurance (COI) is a form that provides proof of an active Workers’ Compensation policy. The document specifies a variety of details such as the policy holder, insurance provider, and the dates of active...

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All About Social Engineering Claims

All About Social Engineering Claims

Social engineering is a quickly rising risk in the cyber community that is causing major financial issues. This cyber risk is executed by tricking employees of a company into transferring funds to a fraudulent scammer on the other end. The fraudster will send out an email to a victim who believes the email is from a legitimate sender, such as an...

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Why It’s Essential for Your Clients to Have Cyber Liability Insurance

Why It’s Essential for Your Clients to Have Cyber Liability Insurance

The need for Cyber Liability coverage isn’t limited to Fortune 500 and Global 2000 enterprises. Losses from data breaches and other cyber events impact businesses of all sizes across all industries, so it’s important to educate your clients on the ways Cyber Liability insurance protects them and covers their potential exposure. Your client may...

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What Is Garage Liability Insurance?

What Is Garage Liability Insurance?

Does your client’s business handle customers’ vehicles – e.g., repair shops, auto dealerships, service stations, etc.?   Garage Liability insurance is a combination of General Liability and Auto Liability. It protects against potential liabilities for businesses in the automotive space including premises liability, auto liability, accidents...

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Professional Liability Insurance Coverage: Notable Exclusions

Professional Liability Insurance Coverage: Notable Exclusions

Professional liability insurance helps protect professionals and their companies against claims related to services offered. These claims typically point to negligence or errors and omissions in advice or services that ended up creating problems for the client, especially if it manifests in financial harm. To protect against these claims and...

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JenCap Holdings to Acquire Aran Insurance Services Group

JenCap Holdings to Acquire Aran Insurance Services Group

JenCap Holdings (JenCap), a specialty insurance business, announced today that it has agreed to acquire privately-held Aran Insurance Services Group (Aran), a specialty program administrator with offices in Arizona, Colorado, Massachusetts and New York. Founded in 2009, Aran has been led by Tim Kenny and John LaCava who have built one of the leading program administration insurance platforms in the country.

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