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Business Insurance

Commercial Auto Insurance Trends for 2021

If your company has vehicles on the road, you’ve probably experienced premium increases even if you’ve maintained a good safety record. In some cases those rate increases have reached double-digit percentages, a frustrating state of affairs for any organization. The central issue is that the commercial auto segment has been unprofitable for insurers for much…

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More Hackers to Worry About: Ransomware-as-a-Service

The huge spike in ransomware attacks on businesses over the last year has multiple causes, many rooted in the pandemic. Plenty of businesses scrambled to set up a work-from-home (WFH) model in a big hurry, leaving a trail of security flaws. There have been ample social-engineering opportunities for hackers also, ranging from phony texts about…

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And the Verdict is … Expensive.

The National Law Journal recently released its list of the Top 100 Verdicts of 2019, “Top 100” referring to the dollar value of the awards. The list should capture the attention of every business owner, especially those in higher-risk verticals. Divided into categories including construction, manufacturing, premises liability and motor vehicle accidents, the Top 100…

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The Hard Market: What Can You Do?

In a previous post we covered the factors leading to the current ‘hard market’ in the insurance industry (read it here). Essentially, this year has seen an overall tightening of the market, with premiums going up and insurers less willing to take on new risks. The factors resulting in the current state of affairs are…

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WHY is it a “Hard Market”?

By now you might have heard that in the always cyclical insurance industry, this year has marked the return of a ‘hard market.’ Also called a seller’s market, a hard market essentially boils down to a more difficult proposition for insureds: premiums are higher, underwriters have less appetite for taking on new risks, and there’s…

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Pandemic Coverage Gap? We have an answer!

The tragic COVID-19 outbreak has highlighted the significant coverage gap that traditional insurance has not been able to solve:  non-damage business interruption as a result of an epidemic.  Most standard property damage policies require business interruption to be from physical damage and also typically exclude communicable diseases. To close this coverage gap, we have partnered…

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Making Your Day Easier with our Client Portal!

At Consolidated Insurance, our belief has always been that we best serve our clients as not just a broker, but as a partner in helping their businesses better manage their risk. To that end, we’re proud to re-introduce the HR and Compliance Client Portal (formerly MyWave Connect), a time-saving online resource that puts clients in…

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Top Reasons to Secure Cyber Insurance

Many organizations incorrectly label cyber insurance as a luxury purchase rather than a necessity. In fact, a recent survey conducted by insurance experts found that nearly 60% of small and mid-sized companies don’t have any type of cyber insurance. What’s worse, less than 30% of those companies feel inclined to purchase a such a policy…

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Workers’ Compensation Solution: Zenjuries

We’re always on the lookout for resources that help our clients better manage any kind of risk, because being in control of your risk profile helps you to tell a better story to insurers. Many businesses would agree that the world of workers’ compensation insurance is among their biggest headaches. The paperwork, regulatory requirements and…

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Looking Ahead: HSA and HDHP Limits for 2021

The Internal Revenue Service recently announced the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2021. As always, the limits vary based on whether the coverage is self-only or a family plan. Let’s take a look: Eligible individuals with self-only HDHP coverage will be able to increase their annual…

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