Producer expertise can pay off in a stable and promising market Entering 2017, hopes were high for accelerated growth in the construction market, with prospects for tax reform, regulatory relief, and substantial infrastructure spending adding to the momentum of a sustained economic recovery. By mid-year the outlook had moderated considerably, with the American Institute of Architects reporting in July that “construction spending so far in 2017 has been fairly disappointing.”
Specialty Lines
Emerging trends present new opportunities for agents In the surety bond market, nothing changes, except when it changes. What was expected to be some serious upheaval in the construction industry post-recession turned out to be a non-event. Instead of an influx of claims from what was predicted to be a rapid acceleration in projects, there was a slow, steady increase in business. The inundation of claims never happened. The industry
Coverholders and Risk Takers What is it? And why does it exist? Over the past 100-plus years, our country has seen its share of catastrophes. Lloyd’s’ response to these disasters has both solidified its reputation in the insurance industry and helped shape the risk modeling and assessment practices in use today. Ask domestic insurance agents to tell you about Lloyd’s of London and you’ll get a diverse array of responses.
With autonomous vehicles on the horizon, who would want to become a driver? Would you join an industry if you thought it was preparing to eliminate your job? That’s a question commercial trucking firms and their insurers have to address, as widespread publicity of advances in autonomous vehicle technology portends a reduced role for qualified commercial drivers, compounding an already existing shortage of them. The latest announcement came in mid-November
Cyber seen as growing risk among healthcare professionals and practices First, the good news: Medical malpractice claims are steady to declining. According to Willis Towers Watson, the healthcare professional liability market was stable in 2017. Now for the bad news: There’s an increasing trend that is poised to be the next big claim driver in the market, and that is cyber liability. Welcome to the new medical professional liability landscape.
