The insurance industry serves as a cornerstone of stability, offering protection to individuals, businesses, and communities during uncertain times. Whether through safeguarding assets, aiding recovery after unexpected events, or fostering resilience, the industry plays a vital role in society. As we enter this season of gratitude, it’s an ideal time to reflect on the many … Read more
The commercial real estate market has faced a turbulent last few years. Rising interest rates, economic uncertainty, and shifting demand patterns have each played a part. However, 2024 is proving to be a year of stability. Both commercial property prices and commercial property insurance rates are finding balance. These changes are giving property owners and … Read more
With the increase in natural disasters over the past several years, many are having to reassess weather-related risks and underwriting models. This is especially evident when unexpected events, like Hurricane Helene in September, impact areas not typically prone to such incidents. The Category 4 storm caused severe flooding and property damage throughout the southeastern United … Read more
With rising travel costs and other expenses, you may question whether it’s worth the investment to attend industry conferences and trade shows. However, these events are crucial for staying competitive in tough economic times and fostering both personal and business growth. Here are ten reasons why attending a couple of them each year can be … Read more
The recent strike down of the Federal Trade Commission’s (FTC) proposed ban on new non-compete agreements does have implications for the insurance agency. On August 20th, a Texas judge overturned the ban on non-competes scheduled to take effect on September 4th. In her ruling, the judge stated that the FTC “lacks statutory authority” to prohibit … Read more
Amidst a challenging economic landscape, purchasing a book of business from another agent can improve cash flow and accelerate growth significantly. It offers an agent immediate access to an established client base, massively boosting income for the agency and providing access to new markets. Here’s how to go about purchasing a book of business and … Read more
Generation Z is the generation that follows the millennials. Generation Z (born approximately between 1997 and 2012) is approaching insurance differently from previous generations. Their approach is influenced by their digital upbringing, financial priorities, and unique perspectives on risk. Here’s how Gen Z is going about selecting insurance for themselves: #1 – They’re Taking … Read more
With all the natural disasters, air travel cancellations, and pandemics of recent years, parametric insurance may be a more efficient alternative to traditional indemnity-based insurance. Because of its innovative approach, parametric insurance is gaining traction across industries, from agriculture and travel to energy and business interruption. Those who leverage this insurance model appreciate its efficiency … Read more
Error and Omissions (E&O) insurance is crucial for independent insurance agents as it provides protection against claims of negligence or inadequate work. In an economy where everyone is stressed about money, E&O insurance is more important than ever. Here’s why E&O insurance is important for agents and some best practices to follow in 2024 and … Read more
The insurance market is showing signs of softening, especially in the realms of property and casualty insurance and commercial insurance. While the hard market may continue through 2024, experts predict it will soften in 2025. Reinsurance may also increase by the end of the year, leading to softer market conditions in 2025. What does that … Read more