Tag: Business Insurance

  • McGriff Market Update: Q3 2025

    McGriff Market Update: Q3 2025

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    Ishon Jones
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    Summary As part of our commitment to keeping you updated on market conditions that may impact your business, we invite you to view and download our Q3 2025 Market Update. Here we distill key trends, highlight emerging risks and opportunities, and offer context to support strategic, long-term planning. Read the Market Update (PDF)

  • Subdivision Bonds: Alternatives to a Letter of Credit

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    Ishon Jones
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    Video Transcript [MUSIC PLAYING] Subdivision Bonds Consider a bond as an alternative to a Letter of Credit 3 most common performance guarantees: ILOC (Bank Instrument): Often ILOCs are fully cash collateralized. Municipalities usually draw down on ILOCs 30 days prior to the renewal date (unless the ILOC has already been renewed). If the municipality determines…

  • Checklist: How to Prepare Your Business for Hurricane Season

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    How do you prepare your business to weather the potential damages hurricanes can cause? The good news is that a relatively small investment of time and money now may prevent severe damage and disruption to your business down the road. Here’s a checklist to get you on the right track. 1. Know your building’s vulnerability…

  • Unlocking Potential: How Understanding Human Behavior Enhances Safety and Operational Success

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    In today’s complex and rapidly evolving work environments, organizations need effective strategies to enhance safety, improve performance, and cultivate a culture of engagement and accountability. While many companies invest heavily in technology and systems to mitigate risk, one of the most powerful and sustainable approaches remains underutilized: applying the science of human behavior. Understanding why…

  • Insurance Insights for Unmanned Aerial Vehicles

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    The use of unmanned aerial vehicles (UAVs), typically referred to as drones, has become increasingly instrumental in a wide range of sectors, including construction, energy, real estate, and government contracting operations. As a result, the need for specialized insurance continues to grow. How Government Contractors Use Drones Many of today’s government contractors use drones as…

  • The Hammer Clause: How It’s Utilized to Resolve Disputes Between Carriers

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    When a business faces a liability claim, the complexities of layered insurance policies that come with primary and excess policies can complicate a resolution. One critical tool that comes into play in these situations is the hammer clause and its enforcement through a hammer letter. Understanding how these mechanisms work is important for policyholders. What…

  • Using Computer-Based Technology to Help Facilitate Safety Performance

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    Companies today use a variety of computer-based technology platforms (e.g., Smart Sheet, HammerTech, iAuditor, Origami, etc.) for measuring the performance of safety tasks that help prevent incidents and claims. For the most part, these platforms are blank canvases from which creative safety professionals are developing “leading indicator” masterpieces of safety responsibilities. Some examples we have…

  • Why Flood Insurance Is Needed Everywhere

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    Flooding events are happening everywhere, not just along the coast or in what were once considered high-risk flood zones. In 2025 alone, devastating floods hit places as geographically diverse as New York, Texas, Kentucky, and North Carolina, many of which aren’t traditionally considered flood-prone areas. Moreover, flood season is year-round. From snowmelt and stalled weather…

  • How to Minimize Business Interruption During Hurricane Season

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    As hurricane season nears, it’s important for business owners, operators, and managers to ensure they have a Business Interruption (BI) policy in place, which guarantees the business is protected from any losses caused by a storm or other natural disaster. This could include lost revenue, damaged facilities, and the cost of restoring lost or damaged…

  • How Disasters Revolutionized CAT Modeling

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    CAT modeling provides a probabilistic calculation of property loss expectancies associated with a variety of natural catastrophe perils. Insurers and lenders are keen to understand the anticipated loss expectancy associated with a portfolio’s exposure to a particular peril, e.g., windstorm, storm surge, flood, etc. Natural catastrophe insurance limits can be costly and should be accurately…