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Risk Insight
Building Success in the Bay State: The Power of Builder’s Risk Insurance in Massachusetts
In the bustling heart of Massachusetts’ construction landscape, Builder’s Risk Insurance emerges as the silent guardian of every project, ensuring that risks are managed, and investments are secure. As the Bay State continues to witness a dynamic construction industry, with projects ranging from building restorations in Boston to innovative developments in Cambridge, understanding the nuances…
Scary Risks for Community Associations During Halloween
Signs of Halloween, everyone’s favorite spooky holiday, are everywhere during the month of October – from carved-out pumpkins to skeletons hanging in the windows and elaborate decorations. Kids and adults have planned their costumes well in advance, and this year we may very well see a lot more trick-or-treaters and Halloween parties taking place, including…
Underground Storage Tank Insurance: A Comprehensive Guide to Coverage Options
Deep beneath the earth’s surface, a network of silent sentinels stands guard – underground storage tanks (USTs) safeguarding crucial petroleum and hazardous substances. The Environmental Protection Agency (EPA) reveals a staggering 542,000 of these tanks scattered across the nation. While they play a vital role in our lives, there’s a hidden peril that could spell…
Art Collection Protection: A Guide for Insurance Brokers during Hurricane Season
Art collections are priceless and irreplaceable. In the event of a natural disaster such as a hurricane, financial loss can be devastating. That’s why it’s crucial that clients rely upon their brokers to fully understand their exposure and ensure they’re obtaining appropriate protection for their collections. In this guide, we will provide you with important…
Emerging Contaminants: The Rising Concern of Carbon Tetrachloride and What You Need to Know
Emerging contaminants are chemicals in the environment that have been recently identified as posing a potential risk to the environment or public health. These contaminants may arise from everyday products or their use in various industries. As these contaminants are detected in the environment with increased frequency and concentration, they become subject to greater scrutiny…
Environmental & Construction Professional Exposure Claim Scenarios You Need to Know About
This blog post will cover common scenarios and offer insights to help advisors recommend appropriate coverage for their clients. Staying informed can aid in protecting clients’ businesses from potential claims related to environmental and construction professional exposure. Gain critical insights by reading this post. GENERAL CONTRACTOR (GC) A GC under a design-build contract hired an…
How To Prevent Legionnaires’ Disease In Hotels and Resorts
As the world opens up again, the travel industry is booming, and hotels and resorts are gearing up to welcome guests again. While hotels have implemented stricter cleaning measures to provide a safe and healthy environment for guests, an unseen risk can put guests and employees at risk: Legionnaires’ disease.
How to Sell High-Limit Hotel Umbrella Insurance
This is an excerpt from our free “How to Sell Umbrella Insurance” eBook. Click here to download your copy. For the most part, hotels recognize the importance of purchasing Hotel Umbrella insurance to supplement the liability limits in their underlying policies. In the last several years, however, liability claims have resulted in multi-million-dollar verdicts or…
Inside the Complex Issue of Security Negligence in Community Associations
Community associations are responsible for the safety and security of its residents. It is important for the board of directors to review the association’s bylaws to understand their responsibilities to provide a safe and secure community. Proper security measures and enforcement of them helps mitigate an unfortunate accident from occurring and the potential of a…
Looking Ahead: Insurance Market Insights for 2022
The insurance industry has experienced a hard-market cycle over the last several years. Some business lines more so than others are seeing diminished capacity, tighter underwriting scrutiny and changing risk appetites and policy terms and conditions from insurers. Commercial Property, Commercial Auto Liability, Directors & Officers Liability (D&O), Cyber Liability and Excess Liability insurance lines have been in the forefront of hard-market rates. Looking ahead, here are some insights on…