According to the Pew Research Center, 64 percent of Americans have an online account involving health, financial or other sensitive data. As more and more people rely on the internet to do business and manage their personal lives, their information has the potential to become susceptible to a cyberbreach. With this in mind, a new…
This year has been the costliest for wildfires in U.S. history with damages topping $10 billion—and that was before the current fires began in California.
Nearly 18 million people annually use commercial zip lines. Thirty million people ride horses. And the number of trampoline parks has risen from 25 to more than 350 parks in a four-year time span.
In recent years, businesses and investors have been purchasing thousands of rental properties, especially single-family homes. Starwood Waypoint – a company launched shortly after the housing crisis – is just one such example.
In terms of damage, floods are the leading disaster in the United States, and the recovery costs grow yearly. Hurricane Harvey – the most powerful hurricane to hit the U.S. in 12 years – made landfall on the evening of August 25, 2017, and since then, the accompanying rainfall during the following week has submerged…
It is estimated that 70 percent of individuals whose assets exceed $1 million are either underinsured or do not carry a High-Net-Worth insurance policy whatsoever. As wealth accumulation in North America continues to inflate, there are thousands of new millionaires every year.
The number of homes valued at $1 million and above has doubled in the past five years. With this recent surge in high-value homes comes an increased need for specialized coverage.
In the months of June through November, areas off the Atlantic coast of the United States have the potential to be hit with hurricane force winds. Hurricane force winds are considered wind gusts sustained at 74 mph according to the National Weather Service. The estimated value of coastal properties that are vulnerable to hurricanes exceeds…
Those not normally affected by natural disasters—hurricanes, earthquakes, and floods—may never expect their homes to be deemed hard-to-place risks. Insurance brokers and agents, however, should understand a different story.
Approximately 12.9 percent of residences, more than 17 million housing units, were vacant in 20151—many of which sit unprotected today. The window of opportunity for retail brokers and agents to speak to clients about Vacant Dwelling insurance is wide open.
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.
Only 26 percent of the overall economic losses caused by natural disasters worldwide during 2016 were covered by insurance. Flooding, earthquakes, and severe weather—the top three perils plaguing homeowners—combined for 70 percent of all economic losses in 2016.
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
Insurance Market Source regularly taps into its network of experts for insight into key trends across the insurance landscape. In this feature, Bill Gatewood, Corporate Vice President and Director, Personal Insurance, Burns & Wilcox, and Donna Dodd, Vice President, Personal Insurance, Burns & Wilcox, provide their insight on insuring hard-to-place homes in the specialty lines…
Sitting in the homes of thousands – maybe millions – are artifacts of North American culture. This was never truer than the unfortunate circumstances of Hurricane Katrina in Louisiana.
For owners of classic and collector automobiles, the car is more than an instrument to get from point A to point B – it is a way of life. There is no other place that one can see this more clearly than at the annual Woodward Dream Cruise.
Dog bites, boating accidents, falls on an icy stairway or off a trampoline, collisions with an uninsured driver—mishaps like these happen with surprising frequency. And when they do, lawsuits often follow.
39 percent of the U.S. population lives in counties located directly on the shoreline. This opens more than 123.3 million Americans up to the potential of hurricane damage.
If a client’s home is located in a part of the country that experiences regular catastrophic disasters, hard-to-place Homeowners insurance is not new to the experienced broker or agent.
A recent report marks a record total of 10.4 million millionaires in the United States, adding 300,000 new millionaires in 2015.1 While economic growth has been slow, the number of affluent individuals has risen.