Hurricane Preparation and Safety Tips for Businesses

According to the Congressional Budget Office, hurricane and tropical storm damages account for approximately $9 billion in losses to commercial businesses each year. Research scientists at Colorado State University recently updated their projections, and are now expecting “above average” tropical cyclone activity during the Atlantic Hurricane Season (June 1 – Nov. 30.) Before a Hurricane…

How Extreme Weather Events Affect Your Insurance Rates

The Mid-Atlantic’s coastal region is susceptible to storms and hurricanes, which creates additional risk for insurers, and more difficulty securing coverage. Extreme weather events — such as hurricanes, tornadoes, hailstorms and wildfires — continue to make headlines as they become increasingly devastating and costly. These events aren’t limited to one geographic area, impacting businesses across…

2023 Cyber Insurance Market Outlook

Evolving technology, increasing threat vectors and growing attacker sophistication has continued to drive up both the frequency and severity of cyber incidents, resulting in an ongoing rise in cyber insurance claims and subsequent underwriting losses. Amid these market conditions, most policyholders experienced higher cyber insurance rates throughout 2022. In addition to elevated premiums, insureds have…