Trends Impacting Commercial Insurance Costs
Recent market developments have demonstrated signs of an improving commercial insurance landscape. Yet, industry experts asserted that ongoing headwinds facing certain lines of coverage will continue to generate hardened conditions overall, therefore driving up premiums. As such, it’s essential for businesses to be aware of the following market trends and how they may impact coverage…
2023 EPL Insurance Midyear Market Outlook
Due to difficult segment conditions, most employment practices liability (EPL) insurance policyholders experienced rate jumps throughout 2022. These rate increases varied based on sector, location, exposures and prior losses. In the first half of 2023, modest rate hikes have become the norm, with premium pricing rising by between 3% and 7% during the first quarter…
How Businesses Should Respond After a Data Breach
After a data breach, businesses may put more resources into a third-party monitoring service or build a dedicated cybersecurity team. Once the issue has been identified and resolved, it’s time to address customers whose data may have been exposed. On average, companies around the globe take over 140 days to identify a data breach. In…
4 Risks of Renting to Pet Owners
Although it’s common to see apartment listings with a “No Pets!” disclaimer, 72 percent of renters have one. For dog and cat owners, such restrictions can limit available living options. Yet for landlords and property owners, accommodating pets can be a complicated decision. You may rent a unit to someone who routinely cleans up after…
Understanding the High Cost of Construction Materials
From the gas pump to the grocery store and everywhere in between, we have all seen the effects of inflation. Increased housing costs are also the result of inflation. According to data from the U.S. Bureau of Labor Statistics, cost for construction materials jumped from as low as 10 percent for concrete to over 50…
