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Vacant Dwelling Coverage: Protecting Assets when No One is Home

In April 2018, the U.S. Census Bureau announced that national vacancy rates in the first quarter of 2018 were seven percent for rental housing and 1.5 percent for homeowner housing. In total, there were an estimated 17,161 vacant housing units in the United States for Q1 2018. While there is ample opportunity for retail brokers…

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A Smart and Steady Approach to Natural Disaster Insurance

According to the National Oceanic and Atmospheric Administration (NOAA), 2017 was the most expensive year on record for natural disasters. NOAA reported that hurricanes, wildfires and other natural events resulted in an unprecedented $306 billion in damages. As a result, globally, insurers paid a record $135 billion. Despite the staggering dollar amount, the insurance industry…

Non-Weather Related Risks and How to Protect Against Financial Loss

While severe weather is lurking around the corner, there is another threat brokers and agents should be discussing with clients: non-weather related water damage. Concealed pipes, leaky plumbing, and appliance water lines are some of the biggest and least thought about risks to households. Yet, one major leak in a client’s home could result in…

Marijuana Insurance Rapidly Evolving in North America

The Canadian federal government is expected to legalize the recreational use of marijuana as early as this summer. The number of client registrations for medical marijuana in Canada reached nearly 270,000 by the end of 2017. In the U.S., marijuana remains illegal at the federal level, but 29 states and the District of Columbia have…

As GDPR Takes Effect, Businesses Could be at Risk for Privacy Liability

Data protection rules are getting an overhaul in Europe, which likely will create a ripple effect that impacts U.S.-based organizations, regardless of whether they have European operations. Starting Friday, May 25, the European General Data Protection Regulation (GDPR) will go into effect to update personal data rules, changing the requirements for organizations collecting and managing…