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
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 commercial property owners who rent or lease out...
Important Cyber Security Controls for your Commercial Clients
Cybersecurity is a critical issue that's top of mind for many companies. ThoughtLab, an organization that combines visionary thought leadership with rigorous analysis, conducted a 2022 cybersecurity survey that found, among other things, that the pandemic amplified cybersecurity risks and breaches. ThoughtLab’s survey uncovered the following:...
Important Trends Impacting Inland Marine Insurance
A variety of trends—including gas shortages, shipping delays, inflation, extreme weather, and the COVID-19 pandemic—have significantly impacted the Inland Marine Insurance industry. This unprecedented volatility has led to increased rates, new exclusions, and tighter policy terms to limit losses. Inland Marine Insurance provides coverage for...
6 Common Questions Your Clients Need to Answer When Hiring Subcontractors
Suppose your client’s construction company hired subcontractors to help renovate a multimillion-dollar home. During the renovation process, the arborist your client hired cut down a tree that fell the wrong way, causing extensive damage to the house. The homeowner sues your client for the damage. Even if your client has General Liability...
Wildfire Insurance Costs are Heating Up
An average of 70,000 wildfires are set ablaze across the United States each year. What's even more steep is the rapid growth trend of the average insurance payout when a wildfire occurs. Take California for example: between the years of 1964 and 1990, the average wildfire cost less than $100 million. That payout amount increased to about $600...
Higher Construction Costs Lead to Increased Insurance Rates
The construction industry is facing their share of challenges lately. COVID-19-related shutdowns are causing ongoing product shortages. Supply chain disruptions are making it difficult to secure materials and leading to project delays. Soaring inflation is causing construction material prices to skyrocket by as much as 26.7%—which is having a...
Jencap Launches Cannabis Site Pollution Liability (SPL) Insurance Program
New York (June 8, 2022) - Jencap Group LLC (Jencap) has launched an exclusive, niche program offering monoline Site Pollution Liability (SPL) for cannabis risks. The program is specifically designed for cannabis growers, processors, laboratories, warehouses, and retailers. It is a non-admitted, A+XII rated program available in all U.S. states...
CGL vs. Garage Liability Insurance: Which is Right for Your Client?
Suppose your client is an auto dealer with a large lot of cars for sale. While rearranging cars on the lot, one of your employees accidentally crashes one car into another. Is this damage covered? Auto businesses have unique risks and, therefore, need specific insurance coverage and protection. Should your clients’ auto businesses have a...
Secondary Perils on the Rise, Responsible for Growing Share of Disaster Claims
Natural catastrophes broke insurance claims records in 2021. Historically, primary perils – like earthquakes – have been weather events with the highest loss potentials, but secondary perils – including wildfires, rainstorms, and floods – have become more frequent in recent years and are responsible for a growing share of insurance claims....
The Oil and Gas Industry’s Important Insurance Needs
Clients in the oil and gas industry have essential insurance needs, and there isn’t a one-size fits all package to cover all of the exposures that are present for those risks. Oil and gas businesses need General Liability to protect them from claims involving bodily injury, property damage, and personal injury (like libel or slander), as well as...
Your Cannabis-Related Clients Need Proper Insurance Coverage to Mitigate Risks
Cannabis industry experts at BDSA Analytics project the global sales of cannabis will increase by 22% over last year’s figures, reaching $35 billion in 2022. The legal cannabis market is poised to grow 20-30% per year and is expected to reach $50 billion by 2026. As sales of legal cannabis continue to grow, so will its impact on the insurance...
8 Reasons your Cannabis Clients Need Site Pollution Liability Coverage
The cannabis industry is expected to see exponential growth over the next few years. Market experts project the industry to hit $45B in 2025 and up to $100B over the next 10 years. That growth will only be possible if growers, processors, laboratories and retailers are able to successfully mitigate risk. The various processes involved to take...
5 Reasons Pollution and Environmental Claims are Rising
Environmental insurance (also known as Pollution insurance) provides coverage for loss or damages resulting from the unexpected release of pollutants, including claims for bodily injury, property damage, cleanup costs, and business interruption. It's important to know that standard General Liability and Property insurance policies exclude most...
Exciting IoT and AI Technologies are Improving Truckers’ Safety
The trucking industry faces numerous challenges. Employee shortages mean less experienced drivers are on the road, which could negatively impact fleet safety and the ability to obtain insurance coverage. Fortunately, the industry is seeing the introduction of predictive safety and analytics technologies that are helping fleets reduce accidents,...
Russell Bond & Company Rebrands to Jencap Specialty Insurance Services Inc.
Buffalo, NY (April 4, 2022) – Russell Bond & Co. (Russell Bond), a full-service specialty wholesale brokerage and managing general agency (MGA) firm, is pleased to announce a new name and brand identity. Effective immediately, Russell Bond will operate as Jencap Specialty Insurance Services Inc., a division of Jencap Group LLC (Jencap). Gary...
How Rising Sea Levels Will Impact Property & Environmental Insurance
Climate change has been making headlines recently, and now experts predict that global warming will lead to substantial sea level rise in the coming years. In fact, scientists are forecasting a one-foot rise in sea level over the next 30 years. To put this into perspective, government agencies including NASA, NOAA, and USGS, anticipate that the...
Don’t Get Railroaded on Your FELA Claim
Almost all private employees in the United States can collect Workers’ Compensation insurance benefits if they are injured on the job. Railroad employees are the exception to the rule, as any job-related injuries are covered through The Federal Employers Liability Act (FELA). FELA was created in 1908 when railroad use was expanding rapidly in the...
Jencap Names Maria Hurley as Senior Vice President of Human Resources
Experienced global human resources exec joins Jencap to drive employee and company growth New York, NY (March 2, 2022) – Jencap Group LLC (Jencap) is pleased to announce that Maria Hurley has been named Senior Vice President of Human Resources and will assume her new role effective immediately. Hurley will be instrumental in transforming our...
The Infrastructure Investment and Jobs Act and Its Impact on Insurance
The Infrastructure Investment and Jobs Act (IIJA) marks one of the most significant physical infrastructure investments in the U.S. in more than five decades. It will lead to a growing number of projects and jobs across multiple industries. The insurance industry will need to be armed and ready to provide appropriate policy coverage for the...
Jencap Group Acquires Delta General Agency Corporation
Expands Brokerage and MGA Capabilities in Texas NEW YORK, NY (February 1, 2022) – Jencap Group LLC (Jencap) announced today that it has agreed to acquire the assets of Delta General Agency Corporation (Delta), a full-service specialty wholesale brokerage and managing general agency (MGA) based in Houston, TX. Delta will operate under the...
Riding the Waves of Change in 2022 The Jencap Insurance Industry Outlook
If the insurance industry had posted its relationship status in 2021, it would have been "It’s complicated." For 2022, it’s still going to be complicated. ... only a little less so. In this white paper you'll find: Seven major trends that will impact the insurance industry in 2022. Industry outlook for every key insurance vertical – including...
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