Hurricane Sandy’s destruction along the Jersey Shore and the wreckage it left behind underscores the exposures properties face so close to the coast. Now many are rethinking the development that has taken place along the Shore over the last two decades and whether…
After years of delaying capital expenditures, hotel companies are now taking the opportunity to renovate their properties. In fact in 2012, we saw more hotels renovating lobbies, restaurants, bars and fitness centers, and this trend will continue into 2013. Also, with the volume…
Superstorm Sandy’s impact will be far-reaching for months and years ahead, as the hardest-hitting areas in New Jersey, New York, and Connecticut grapple with cleanup and rebuilding. What’s more, many issues have reared their heads in the wake of Sandy – from business…
As businesses and residents throughout the Eastern Seaboard muddy through the devastation that Superstorm Sandy left in its wake, many are struggling with the cost of becoming whole again. Although previous storms, including last year’s Nor’easter that hit New York, New Jersey, and Connecticut,…
Have you taken a close look lately at whether the amount of insurance you have on your valuables, such as jewelry, fine art, and collectibles, is enough? Does the insurance you have properly cover everything from your engagement and wedding rings, to high-end watch,…
Smith Travel Research (STR), which tracks supply and demand data for the hotel industry and provides valuable market share analysis for all major international hotel chains and brands, has forecast that revenue per available room (RevPAR) will rise 5.7% this summer in the…
In the last week we’ve seen indications that the commercial insurance market is indeed firming. MarketScout came out with its February 2012 findings showing the U.S. composite commercial rate index increased 2%. Workers Compensation and Commercial Property rates increased by 2%, followed BOP, Liability…
Submissions for underwriting over the years has been streamlined somewhat in our industry, depending on the industry, class of business, complexity of the risk, and the coverage line. In some cases, there’s been a shift from the agency to the underwriter in gathering the…
Last month, we wrote about how insurance rates are beginning to firm up. As more numbers come in, the end of the soft market cycle seems to be a reality. Just recently Dallas-based insurance exchange MarketScout’s released a new report indicating that there was…
