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  • How Higher Gas Prices Fuel the Rising Price of Goods

    A recent report found that nearly 70% of small and medium-sized businesses across the country cited high gas prices as the reason they were struggling to regain stability—and the struggle is real. U.S. gas prices have been volatile to say the least over the last couple of years in particular, from a low of less  more »

  • Market Recap: Restaurant, Bar, Tavern & Nightlife

    The restaurant and bar industry during the last three years has experienced a great deal of changes as a result of the pandemic, a labor shortage, and inflation. The industry has had a lot on its plate, but throughout these challenging times, it continues to emerge resilient and creative. The COVID Effect Let’s Sit Outside  more »

  • Talent Crisis in the Insurance Industry Persists

    The insurance industry has been discussing its talent crisis for years, with the call for a younger demographic to fill positions throughout the distribution system as the baby boomer generation retires. Industry insiders were calling for a concerted marketing push by insurers, MGAs, agencies and brokers, associations, schools, and others to rebrand the insurance sector  more »

  • Build a Better Brokerage Through Constant Refinement

    Whether your brokerage is a modest family-run firm, one of the largest enterprises in the nation, or somewhere in between, you are always on the lookout for the broker’s version of “how to build a better mousetrap” — operate more efficiently, achieve economies of scale, find solutions that lead to more sales volume which means  more »

  • Bypass Three Common Business-Busting Broker Blunders

    After investing years of hard work to establish and grow their business into a thriving operation, savvy business insurance brokers know that resting on their laurels is a foreign concept they can never embrace. Rather, maintaining a constant vigil on their clients’ evolving needs and being willing to reinvent their processes to address those needs  more »

  • The Cooling Housing Market and Its Effect on Property Investors

    Since the beginning of the year, the housing market has changed. A rise in interest rates, the amount of money required as a down payment, a drop in sales prices, and increased inventory on the market have home sellers concerned. A once-hot market has begun to cool. According to recent reports by Realtor.com and Redfin  more »

  • Market Recap: Demand for On-Demand Content Opens Up More Insurance Opportunities in the Entertainment Industry

    The pandemic altered many consumer behavioral patterns, with various industry sectors having to pivot to accommodate these changes. One of the most significant consumer changes, according to a McKinsey report, is the rise in at-home consumption. Homes have become the new café, restaurant, and entertainment venue, says the report. This nesting trend has continued post  more »

  • 5 Tips in How to Improve Your LinkedIn Profile

    One of the most important aspects of maintaining your professional image is having a polished LinkedIn profile. Though many think of LinkedIn as a social tool meant solely for finding a new job, that’s far from the case — it’s an important network for all employees. Not only does it help you stay connected with  more »

  • Talk to Contractor Clients About the GL Audit Process, Estimating Revenue

    In discussing General Liability (GL) insurance with a contractor, it’s important to go over the fundamentals such as what’s covered, how coverage is triggered, policy limits, any exclusions, etc. It’s also critical you discuss how the premium for the policy is determined and the audit process involved once the policy term ends. An insurance audit  more »

  • 5 Simple Ways to Improve Your Personal and Professional Development

    In today’s fast-paced life, it can seem hard to find the time to step back and take a look at your goals. While many of us may set a New Year’s resolution, actually following through on personal and professional goals takes a consistency that can feel overwhelming. Luckily, there are small things you can do  more »

  • Claims Forensics Pinpoint the Cause & Origin Behind Property Losses

    When residential and property losses occur – whether it’s a result of fire, water damage, appliance and equipment component failures, or other hazards – insurers utilize forensic experts to investigate claims. These experts determine the causes and origins of losses, the extent of the damage and the appropriate action to take for resolution. Based on  more »

  • How Robust Are Your Cybersecurity Measures?

    Bryan Schwam, CISO, ISC, shares several cybersecurity measures your agency and its employees should be taking to help minimize the potential for data breaches and other cyberattacks whether your staff boots up at the office, home, or a public place. Working at the Office It’s important for employees to be mindful that the work they  more »

  • Market Recap: Contractor GL & Equipment

    ISC offers two distinct Contractor General Liability (GL) products: One focuses on the small contractor with a national footprint, while the other caters to larger contractors in certain geographic areas. Michael Cronin, Senior Vice President of Product Management, provides us with several insights and a market recap of the General Liability and Equipment space. Small  more »

  • What’s New in the Vacation Rental Business Landscape?

    This summer, it seems like everyone is traveling – whether it’s flying to some far-flung destination or taking to the road for some R&R at a vacation rental. In fact, the vacation rental business is booming, particularly among property investors who have bought up vacation homes to rent. While the majority of homes listed on  more »

  • Sustainability Is Top of Mind for Half of CEOs

    In today’s world, companies across almost every industry are focusing on sustainability efforts. Once thought of as a voluntary, altruistic measure, eco-conscious corporate practices are now becoming mandatory in many sectors.  As more investors begin to screen businesses based on environmental, social, and governance (ESG) standards, a pivot towards sustainability is crucial. Insurance agents can  more »

  • How Insurance Agents Can Utilize LinkedIn In Message for Social Selling

    Insurance agents know that finding and chasing leads can take up a massive amount of time. That’s why social selling, or developing connections with potential clients over social media rather than cold calls, is a modern-day practice that all agents should be incorporating into their workflows. But beyond the classic social platforms like Instagram and  more »

  • How to Boost Conversion Rates with Email Signatures

    For insurance agents and brokers, one of the best marketing tools is actually right at your fingertips: your email signature! This cost-efficient, easy-to-use aspect of digital communication is often overlooked — but when done correctly, can greatly impact your return on investment.  Email signatures aren’t just a throwaway line of text at the end of  more »

  • The Tale of Two States: Louisiana and Florida Homeowners Markets Face Challenges

    There is a homeowners’ crisis in both the Bayou and Sunshine States, with property owners scrambling to find coverage as carriers raise premiums, reduce their appetites, cancel policies, leave the regions altogether, or go belly up. The states’ respective insurers of last resort are struggling to keep up with demand from policyholders looking for coverage  more »

  • The State of the Construction Insurance Market

    While the overall insurance market remains hard, price increases have begun to moderate in the first and second quarters of this year in the construction sector as compared to previous quarters. In certain locations as well as for specific construction types and perils, however, we are still seeing carriers reduce their capacity, restrict their appetite,  more »

  • Property Companies and Investors Buying Up Single-Family Homes

    Over the last two years, the residential real estate market has been on fire, with record home sale prices and sellers getting thousands of dollars over the asking price – at least until inflation hit an all-time high and mortgage rates began to climb. Many of the buyers of single-family homes, particularly at the lower  more »

  • Trend or Anomaly? New Orleans Restaurant May Proceed with COVID-Related BI Claim

    The COVID-19 pandemic in early 2020 and subsequent government lockdown periods forced businesses across the United States to close their doors for several months, including restaurants (which were among the hardest-hit sector). It’s estimated, according to the National Restaurant Association, that more than 110,000 restaurants closed for business, either temporarily or permanently, in 2020. Nearly  more »

  • Review Clients’ Inventory Values: The Impact of the Bullwhip Effect on Insurance

    It wasn’t too long ago we were all racing to the markets to stock up on toilet paper, paper towels, and sanitizing and cleaning products, among other consumer goods. The supply for these items during the height of the pandemic was scarce, made even worse by mass hoarding of goods and materials. And while these  more »

  • Market Recap: Trucking Excess Liability Insurance

    Skyrocketing verdicts and settlements involving commercial auto accidents have contributed greatly to the trucking industry’s hard insurance market over the last several years. In addition, an increase in the frequency and severity of claims, including a rise in fatal accidents as well as road incidents involving major injuries, is driving litigation in the trucking sector  more »

  • Become a Successful Insurance Agent by Following These Six Time Management Tips

    It’s no secret that insurance can be an overwhelming business — but by following these simple hacks, you can optimize your work and personal life for success. Seasoned insurance agents know that one of the most essential skills to a successful, long-term career in the industry is simple time management. From marketing and promoting the  more »

  • Robots Helping Out in Restaurant Kitchens and Beyond

    The tight labor market, including in the restaurant industry, has owners looking at alternatives to fill positions. Some have even turned to robots to serve up plates. That’s right: a growing number of restaurants and hotels have turned to robotics to help out with the labor shortage. According to an article in The New York  more »

  • The ISC Homeowners Program Provides Agents with a Stable, Competitive E&S Market

    Today’s hard insurance market is characterized by rate increases, appetite changes, coverage restrictions, and non-renewals for certain coverage lines and in specific regions. Among the coverage lines impacted is homeowners insurance for risks that fall outside the standard market and need a home in the Excess & Surplus (E&S) market. While the London and domestic  more »

  • The Lay of the Vacation Rental Business Landscape

    The United States vacation rental market, according to Research and Marketing, was valued at $14.32 billion in 2021 and is expected to reach $21.53 billion by 2026. The market is made up of various rental properties – from homes to apartments, condos, and villas – that property owners, managers, and real estate investors rent on  more »

  • How Insurance Agents Can Maximize Virtual Meetings with Killer Presentations

    While the insurance industry is once again attending face-to-face conferences, trade shows, and seminars, virtual meetings are here to stay. The more than two-year hiatus in holding face-to-face gatherings amid the pandemic and the resulting rise in virtual meetings demonstrated that not all meetings require in-person attendance. Virtual meetings are more inclusive with more participants  more »

  • Bridging the Gap Between Operating Software and User Knowledge

    There are many different software programs and apps, including InsurTech platforms, available for the insurance industry and its professionals to utilize. Unfortunately, a gap exists between what these programs are capable of doing and the extent to which they are being used by employees. As an example, according to HubSpot, 22% of salespeople still don’t  more »

  • The Impact of Inflation on Homeowners Insurance

    Although inflation cooled slightly in April, it remains close to a 40-year-high. According to the Bureau of Labor Statistics, inflation stands at an annualized rate of 8.3%, pushing prices higher for consumers, including the cost of lumber and other building materials which were already affected by supply-chain shortages. This has a direct impact on reconstruction  more »

  • Inside View: Construction Market Recap

    We’ve taken a look at several construction sectors and the anticipated outlook for each based on a number of factors, including government, private, and consumer spending. Single-Family Residential, Home Improvements Higher federal interest rates and an elevated pace of inflation have prompted a tighter market for new single-family residential builds, according to the National Association  more »

  • Insurance Professionals Leverage LinkedIn for New Business, Sales

    Social media platforms are powerful and effective tools to build and nurture relationships for insurance professionals, including insurance agents and other industry leaders. Social media is a way to reach and connect with a broader network of individuals – including other executives and centers of influence. LinkedIn is the ideal platform to establish B2B relationships  more »

  • The Read On What To Read In 2022

    Best Business Books to Read for Insurance Professionals No matter where you are in your life, we can all use inspiration and motivation. The same goes for our careers – whether you’re the CEO of a large insurer, agency, or brokerage; an entrepreneur of a start-up; or an agency producer or account executive. One way  more »

  • Where Are Movie Shoots And Productions Taking Place Today?

    When most people think of U.S. production shoots for movies and television shows, they think of California (Hollywood) and New York. Add Georgia to the list, as well as some international locales. It’s important to know where shoots are taking place, particularly when writing film production insurance. Georgia on My Mind Georgia is where dozens  more »

  • Market Recap: Petroleum Distribution Excess Liability

    The petroleum distribution excess liability insurance market has been hard for the last few years, albeit it has softened somewhat this year as compared to 2021. Social inflation – fueled by nuclear verdicts, litigation funding, pro-plaintiff, anti-corporation jury sentiment, and tort reform rollbacks – is driving up trucking insurance claims costs for the commercial trucking  more »

  • An Inside View Into The Difference Between Homeowners and Vacant Property Insurance

    Too often, homeowners don’t realize that if they leave their home vacant for a specific period of time, they are leaving themselves unprotected in the event of a loss. A vacant property is one without any personal property in it. Properties are left vacant for a number of reasons: A client may have moved into  more »

  • How To Improve Your Presentation Skills And Give An Engaging Presentation

    Knowing how to deliver an effective presentation is an essential tool in the skill set of a successful insurance agent or broker. Honing your presentation skills can take your presentation from merely good to great. This is because the more persuasive and actionable your pitch, the more insurance sales you’ll stand to make by the  more »

  • The Shape Of Work In The Insurance Industry: Remote Work Or In Office?

    Prior to 2020, remote work was typically associated with freelancers and employees whose companies had multiple locations and were open to providing workplace flexibility. When the pandemic hit, remote work became a lifesaver for professionals across every industry including insurance. In fact, some 50 million Americans left their offices. Prior to the pandemic, in 2019,  more »

  • Look At What’s Up: Drones In The Construction Industry

    Drones, or Unmanned Aerial Vehicles (UAVs), are increasingly being utilized to help project owners and contractors manage construction sites. Operating with a bird’s eye view, drones can help increase worker safety, boost efficiency, and monitor every stage of a project’s life cycle for the construction industry. Yet, owners and contractors should be aware that drone utilization  more »

  • On The Road: Dashcam Use On Trucks Helps Reduce Insurance Claims, Achieve Better Outcomes

    Trucking companies of all sizes can face an onslaught of insurance claims and lawsuits, ranging from backup incidents and sideswipes to major and fatal accidents. Over the last several years, trucking companies have been hard hit by litigation and nuclear verdicts (jury awards surpassing $10 million) involving vehicular accidents. Even when a trucker was clearly  more »

  • Restaurant, Bar, Tavern, & Nightclub Insurance Market Recap

    The days of having to make a reservation way ahead of time to get into a well-known fine-dining establishment have returned. Bar seats at many restaurants are now occupied, and families and friends are enjoying nights out at their favorite local haunts. Masks have come off in the majority of places, with diners having the  more »

  • Productions Back In Business Post COVID Shutdown

    When the pandemic hit in March 2020, it seemed like everything came to a standstill including productions on movies, television shows, and commercials. Broadway also hit the pause button. In 2020, the number of original scripted TV shows across broadcast, cable, premium pay, and streaming channels fell for the first time in a decade since  more »

  • Benefits Of Outsourcing For Insurance Programs

    The pandemic illustrated that, for many businesses, their operations can continue to run smoothly with people working remotely. This was particularly true for the insurance industry, which was able to pivot during the mandatory lockdown and, for the most part, continue to provide customers with the products and servicing they needed. The pandemic also demonstrated  more »

  • 10 Best Training Tips For Business Leaders To Generate More Sales

    The insurance industry offers business leaders, insurance agents, sales producers security and stability, an opportunity to earn a great living, and the ability to learn about – and get involved with – diverse industry sectors. At the same time, it’s a highly competitive industry. While everyone needs to buy insurance, there are many local, regional,  more »

  • It’s Time To Talk Ex-Mod And How To Improve It

    When explaining a Workers’ Comp insurance program and how the premium is determined, once an insurance agent begins reviewing the experience modification factor (ex-mod), often you’ll recognize a familiar gaze that comes over a client’s face. This is especially true if you get too deep into the weeds of explaining how the ex-mod impacts premiums.  more »

  • Gaining Efficiency With E-Sign

    E-Sign Capabilities Bring Efficiencies and More to Your Agency, Brokerage Electronic signatures, or e-signatures, are a fast and legally binding way to approve electronic documents without having to print, scan, or mail (via post) anything. An electronic signature is essentially a process in which computers authenticate the signatory and certify the document’s integrity. It is  more »

  • Event Insurance For Wedding Bell Blues

    Event Insurance Protects When the Best Day Turns into the Worst For years afterward, Angela and Dev’s wedding was called “the one where the couple got hitched, the bride got stitched, and the guests’ stomachs pitched.” When the two decided to tie the knot, they envisioned bringing their diverse family cultures together in every way  more »

  • Data In The Insurance Industry

    The Benefits of Big Data to the Insurance Industry and Insurance Programs The insurance industry has always been driven by data, and today increasingly so with the availability of more data. Using aptly named “big data,” the industry is in a position to make more informed decisions regarding insurance program development, risk assessment, underwriting, pricing,  more »

  • Why Branding Is So Important

    Some business owners may think branding is only for behemoth companies and doesn’t necessarily apply to them. It doesn’t matter whether you are catering to a local or niche market, are an insurance MGA, or a large brokerage with a national footprint, great branding conveys what you’re all about, helps clarify and focus who you  more »

  • Top 4 Factors That Impact Commercial Business Insurance Costs

    There are several factors that go into determining commercial insurance premiums for businesses to protect against lawsuits, property damage, accidents, and other events and hazards that may arise. The following are four factors used to calculate how much business insurance will cost. 1. Business Operation A business’s operation plays a significant factor in the rates  more »

  • Top Insurtech Trends For 2022

    Insurtech is the application of technological innovations specifically designed to improve the efficiency of today’s insurance model. Insurtech solutions enable products to be priced more competitively by utilizing technologies such as AI and data analytics. These solutions are being widely adopted by insurers and MGAs in order to achieve lower-cost, better, and faster operational results.  more »

  • AI And Machine Learning: Game-Changing For Insurance Industry

    Artificial Intelligence (AI) and Machine Learning (ML) are transforming the insurance industry in a number of critical ways. AI is a branch of computer science that develops machines to mimic human intelligence and solve problems faster and more accurately than we can. Traditionally, AI works by analyzing a set of inputs and producing the right  more »

  • How Technology Is Helping The Construction Sector Improve Its Carbon Footprint

    Buildings and construction are responsible for 39% of carbon emissions globally, according to the World Green Building Council. Operational emissions (from energy used to heat, cool and light buildings) accounts for 28% while 11% comes from embodied carbon emissions, or “upfront” carbon associated with materials and construction processes throughout the whole building life cycle. This  more »

  • ISC Introducing New Restaurant, Bar, Tavern, And Nightclub Insurance Program

    The restaurant industry, because of the pandemic, has faced some of its greatest challenges over the last two years. Throughout most of 2020 and into early 2021, the industry made some significant changes and expenditures to keep operations open amid mandates and evolving requirements, including offering outdoor dining, investing in technology for touchless orders and  more »

  • ISC Acquires Online MGA Abacus, Expands Commercial Insurance Program Offerings

    In today’s fast-paced, hyper-competitive commercial insurance environment, market access to tailored programs for specialty niches supported by a streamlined online submission-quote-bind-policy issuance platform is critical in driving greater growth for brokers. Our commitment at Insurance MGA Integrated Specialty Coverages, LLC (ISC) is to deliver best-in-class insurance programs supported by the latest in technology advances. With  more »

  • COVID In 2022: Property and Casualty Industry Getting Back To Business

    Most firms after nearly two years of managing the fallout from the pandemic felt that, by 2022, we would return to “business as usual.” Some, including insurance agents and the property and casualty industry in general, made plans for their workforce to return to the office in the fall of 2021 while others were looking  more »

  • Trucking Industry Making Inroads To Attract New Workers with Trucking Programs

    The ongoing supply chain disruption combined with a severe labor shortage of truck drivers has the industry making moves with ne trucking programs to get more individuals behind the wheel. The industry needs 80,000 truckers to help alleviate supply chain pressures and, in part, is offering the opportunity for individuals to make up to six-figure  more »

  • The Year Ahead In Construction Trends

    The Year Ahead in Building Trends With stricter safety regulations, rising building material costs, shifting consumer demands, and other factors, it’s critical for builders to stay current on construction trends to remain competitive. We’ve put together several of the top construction industry trends to watch for. Safety on the Job. Contractors donned face masks long  more »

  • What’s On The Reading List For Business Leaders, Commercial Insurance Execs?

    What’s on the Reading List for Business Leaders? While business leaders, including commercial insurance execs, have plenty on their plate, most carve out the time to read memoirs, interviews, and nonfiction books to discover the different perspectives and journeys of other C-suite professionals, entrepreneurs, founders, and leaders. A deep dive into someone else’s experience can  more »

  • Construction Market Trends 2022

    Outlook for the Residential Construction Sector On the heels of the pandemic, residential construction activity spiked in mid-2020 and throughout 2021 in a quest by consumers for more living and outdoor space. However, at the same time, there have been challenges in the residential construction market to meet consumer demand – from the rising cost  more »

  • Inside The Supply-Chain Disruption

    Inside the Supply-Chain Disruption The pandemic impacted many aspects of our economy, including exposing and exacerbating a supply chain that was already vulnerable as a result of infrastructure issues and decades of very lean inventories held by companies in order to limit their costs. Once the pandemic-related lockdown hit in 2020, people spent more time  more »