Author Archives: Insurance Market Source

Look Out Below: Underground storage tanks present opportunities for brokers and agents

Look Out Below: Underground storage tanks present opportunities for brokers and agents

Not all time bombs tick. In the case of underground storage tanks, they corrode. As a result of corrosion, improper installation and piping failures, tanks storing fuels and other hazardous substances can leak dangerous chemicals, resulting in contaminated soil and polluted groundwater. With many tanks being installed prior to stricter EPA regulations, the market is ripe with…

Open For Business: Commercial Umbrella Coverage

Open For Business: Commercial Umbrella Coverage

One of the most pervasive requisites of being a business today is contending with increasingly complex liability laws. Courts continue to broaden the definition of liability, incurring a sharp rise in claims and award amounts. To counter a volatile regulatory landscape, small commercial businesses need to augment their protection with a commercial umbrella policy. Traditional policies…

Opportunity’s New Address

With millennials foregoing traditional homeownership in favor of renting, the home-rental industry is booming. For investors, the strategy to gain from this trend seems simple. Buy a vacant property below market price. Refurbish it. Rent it out for a profit. Unfortunately, landlords may not fully understand the exposures they face, leaving them underinsured. Protect your…

A Million Dollars Isn’t What It Used to Be

Commercial Umbrella Insurance All businesses can benefit from umbrella coverage. With or without a contractual obligation, adequate commercial umbrella insurance is critical to provide coverage from unforeseen risks and a safety net when liabilities exceed expectations. “Ninety-nine times out of 100, if a customer falls in your parking lot, they will want to leave quickly…

Why Insurance Direct Mailers ‘Spin Yarns’

If you were to save all the consumer insurance mailings your family gets from major companies over, say, a month and then spread them on your dining room table, you’d soon notice some startling similarities. Most of the mailers would use the same basic creative approach. The brands may be different. The colors, typefaces, images…

Extreme Entertainment – Extreme Risk!

Special Events Insurance Millennials are quickly becoming one of the most prominent generations in the workplace. Focused on findings jobs that provide “meaning” and a stimulating company culture, they are constantly looking for workplace environments where they can bond with colleagues and impact the lives of others. Smart companies know that in order to keep…

A Healthy Opportunity

Thousands of Baby Boomers are turning 65 every day, increasing the demand for healthcare services. Many of those in this aging population have multiple chronic conditions. Consequently, there is a growing demand for a wide variety of caregivers. All these professionals, facilities and services are going to need liability insurance. Even if members in this…

Calm Before (and After) the Storm

Coastal Commercial Insurance As the 10th anniversary of Hurricane Katrina approaches, we are reminded of nature’s capacity for widespread destruction. It is a good time for property owners in coastal areas nationwide to ensure they are prepared for the worst. A storm’s final path and impact are unpredictable until it hits land, and while this…

In Horse Racing, Kentucky Derby Is Just the Beginning

Bloodstock Coverage At last month’s Kentucky Derby, 18 horses competed for a $2 million guaranteed purse, with an estimated $50 million in wagers being placed. But those values are dwarfed by the amount of insurance out on the track. To put it into perspective, Ken Rice, Underwriting Director at Atain Insurance Companies, approximates the insured…