Author Archives: INSURANCE MARKET SOURCE

Sea of Opportunity: Recreational Marine

When it comes to marine insurance coverage, don’t let the opportunity float away. Many of your clients know the thrill and joy of being out in the open water, wind in their sails, cruising to the next adventure. In fact, there are nearly 12 million registered recreational boats in the US alone. Whether your clients…

The New Normal in an Online World: Cyber Liability

In the world of cyber insurance, last year’s policy was designed for last year’s threats. But with new, more sophisticated threats emerging all the time, it is imperative to review and reevaluate your clients’ policies on a regular basis. Are your clients among those living dangerously? To minimize potential financial damages address these gaps in coverage with…

Harvest the Opportunity. Why the Time is Ripe for Picking up New Business.

Farms and ranches are fertile ground for growing your portfolio. Contrary to popular belief, independent agents and brokers can compete with the national direct writers on this business. These are clients that require coverage in multiple categories. From machinery and structures, to roadside stands and homes—the opportunities are enormous. All brokers and agents need is the right…

Policy Prescription How healthy is your clients’ medical professional liability coverage?

Policy Prescription

  The 1374 trial of Stratton v. Swanlond was history’s first-ever recorded medical malpractice case. Back then, the plaintiff received 40 English pounds: worth about $38,000 (US) today1. In contrast, medical malpractice suits now cost the healthcare sector upwards of $35 billion with one out of every 14 doctors facing a suit every year2. The…

The Recreation Industry is not all fun & games: Capitalize on the growing need for recreation insurance

The Recreation Industry is Not All Fun & Games

  Thrill seekers can be risk takers; the recreation industry doesn’t have that luxury. This business sector is experiencing rapid growth and requires specialty insurance solutions that can keep pace. Eighteen million people annually use commercial zip lines. Thirty million people ride horses. When accidents happen, lawsuits may follow—resulting in legal fees and potential punitive…

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…