Industry Insights
All the latest posts from the experts at Jencap. Stay up-to-date on industry trends to maintain your competitive edge and provide timely, accurate coverages for your clients.
Construction Innovations Impacting Builders’ Risk Exposures
In the construction industry, staying ahead of emerging trends is crucial for builders and insurers alike. Not only can advances in construction technology reshape the way we build, they can also influence builders’ risk insurance exposures. According to a recent...
Importance of Insurance for Underground Storage Tanks (USTs)
Across many industries, underground storage tanks (USTs) play a crucial role in storing everything from fuel to industrial chemicals and other hazardous substances. However, with great utility often comes great responsibility, and ensuring these tanks are adequately...
Water Damage Prevention Tips for Property Owners
Water damage is one of the most common causes of insurance loss claims. The Insurance Information Institute estimates that 1 in 60 insured homes will experience an insurance claim related to water damage or freezing, with an average claim loss of $12,514. Despite the...
Top Concern for Marine Insurers: Container Ship Fires
The shipping industry is fraught with risks and exposures — volatile weather conditions, mechanical breakdowns, theft and piracy, fuel spills, cyberattacks, and supply chain disruptions, just to name a few. One risk in particular, however, is drawing a lot of...
Cannabis Product Recalls Can Cripple Operators
On August 2, Missouri cannabis regulators suspended Delta Extraction’s cannabis business license, accusing them of illegally sourcing materials from an unlicensed facility. Twelve days later, over 60,000 of Delta Extraction’s products were recalled state-wide. ...
Updates to OSHA’s Electronic Workplace Injury Reporting
Starting January 1, 2024, the U.S. Department of Labor will require employers in high-hazard industries to submit injury and illness information electronically to the Occupational Safety and Health Administration (OSHA). You can visit the OSHA website to review full...
Deborah Dioguardi Receives the ACORD Women’s Insurance Advancement Award
Insurance Executive Recognized For Trailblazing Work New York, NY (October 19, 2023) – Deborah Dioguardi, Jencap National Practice Leader for Professional Lines, has been selected as an ACORD (Association for Cooperative Operations Research and Development) Women’s...
Cyber Insurance Gives Companies Leg Up on New SEC Ruling
At the end of July, the U.S. Security and Exchange Commission (SEC) adopted the Public Company Cybersecurity Disclosures ruling. These new regulations change how and when public companies disclose information about cybersecurity insurance incidents to shareholders....
Construction Workers’ Compensation Claims Costs on the Rise
Workers’ compensation claim frequency is holding steady, yet there’s been an uptick in the cost per claim, particularly within the construction industry. As we look toward 2024, understanding the factors contributing to this increase is crucial for navigating the...
Powering Tomorrow: Top Solar Power Trends
Social and regulatory pressures have boosted the interest and support for renewable energy expansion in the United States. Last year, the federal government instituted the Inflation Reduction Act (IRA), committing $369 billion to climate and clean-energy investments,...
Unbreakable Coverage: Why Commercial Properties Need Equipment Breakdown Insurance
Owning and managing any type of commercial property — hotel, office building, shopping mall, bakery — comes with its share of risks. One often overlooked risk is the sudden breakdown of essential equipment and machinery. A power surge, faulty circuit, loose bolt, or...
Rev Up Your Protection: Safeguard Auto Shops with Garagekeepers Coverage
The responsibilities of auto repair shops go far beyond fixing mechanical problems and performing routine maintenance. In addition to managing the day-to-day business, owners and technicians are also tasked with guarding against accidents, thefts, and unforeseen...
Financial Challenges Threaten Cannabis Multistate Operators
Multistate operators (MSOs) are the heavy-hitters of the cannabis industry. These are established, well-funded players who set their sights on expanding into as many new markets and states as possible — a feat that’s not easily accomplished in the heavily regulated...
Current State of the Property Insurance Market: 2023
If you’re a retail insurance agent with a book of business in the property insurance market, you’ve no doubt had conversations with concerned clients about why their premiums are increasing and coverage is getting harder to come by. Unfortunately, this is the case...
Claims from U.S. Climate Lawsuits Could Be on the Rise
Climate-related extreme weather events continue to be a “hot topic.” Scorching heat, unusually heavy rainfalls, raging floods, and wildfires have all left their mark on North America this summer, while the world reaches record land temperatures. Things aren’t just...
The Seven Most Common Risks in Agribusiness
Agriculture is one of the most expansive and diverse industries in our nation. As such, it’s confronted by some of the most varied and complex risks. The forces of nature routinely intersect with the day-to-day realities of local and global economics and advancing...
Professional Liability Insurance: Notable Exclusions
Professional liability insurance protects business professionals and their companies against claims due to professional errors, mistakes, negligence, or omissions. Unfortunately, professional liability coverage forms aren’t always straightforward, and policy terms and...
2023 Last Mile Delivery Trends and Risks
Did you purchase one (or more!) of the 375 million items sold during Amazon’s 2023 Prime Day event? Each year, shoppers mark their calendars for Prime Day, anticipating killer savings on home goods, appliances, toys, and more, all delivered to their door within days....
Ransomware Attacks Threaten Healthcare Facilities
Last month, St. Margaret’s Health, a hospital in Spring Valley, Illinois, was forced to permanently close their doors. They attribute the closure in part to a 2021 ransomware attack. The rural hospital had been struggling to stay afloat amidst the Covid-19 pandemic...
Common Cyber Insurance Questions
We all can appreciate the conveniences of technology in our lives. That convenience along with digital interconnectedness have given rise to a multitude of cyber risks that threaten organizations of all sizes and types. The cost of these annual cyber threats in 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. Over the past 18 months, it has led to an increase in projects and jobs across multiple industries. As...
TRENDS & WHITE PAPERS
Preparing for the Future of Cannabis Insurance
Despite the growing acceptance and legalization of cannabis, it remains federally illegal in the United States, creating unique challenges for the industry. Jencap explores three possible future scenarios for federal cannabis reform and their impact on cannabis insurance.
WHITE PAPER | Q2 2023 | 7 MINUTES
Navigating the New Frontiers
of Professional Lines Insurance
CASE STUDIES | Q1 2023 | 7 MINUTES
Your Guide to Cannabis Insurance
TRENDS | UPDATED Q2 2023 | 5 MINUTES
How Climate Change is Shifting the Insurance Industry
WHITE PAPER | Q3 2022 | 17 MINUTES
Garage Gurus: Garage Coverage Explained
TRENDS | Q2 2022 | 3 MINUTES
Riding The Waves of Change Insurance Industry Outlook
WHITE PAPER | Q1 2022 | 3 MINUTES
PODCASTS
Hosted by Jencap’s Managing Director of Marketing, Kathryn Smith, Flip the Cap is the podcast where insurance insights flow and trending topics are always on tap!
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