News - Tools & Intel | CRC Group

TI-Header

Do Contractors Have the Coverage They Think They Do?

Do Contractors Have the Coverage They Think They Do?

Do-overs can be good after making a mistake, but for construction contractors, there are a lot of downsides to redoing work. “Ripping and tearing out” construction materials after identifying an error can be costly, delay the completion of a project and damage the contractor’s business relationships. Even worse is the unpleasant discovery that such rework may not be covered by the contractor’s professional liability policy.

read more
One-of-a-Kind Labor Law Makes Insuring New York Construction Projects a Challenge

One-of-a-Kind Labor Law Makes Insuring New York Construction Projects a Challenge

From the Empire State Building to the Freedom Tower and the Hudson Yards project, New York’s construction industry has earned a global reputation for innovation. That vibrant spirit, however, has been dampened by a unique labor law dating back to the 1880s governing falls at construction sites. Commonly referred to as the New York’s Scaffold Law, this section of the Labor Law has driven overall construction costs higher, sent insurance premiums soaring above levels for other states, and led some major carriers to leave the market altogether. Those challenges make it imperative to work with brokers specializing in this complex and constantly changing market.

read more
Preparing Clients for Increased Frequency and Severity of Cyberattacks in 2019

Preparing Clients for Increased Frequency and Severity of Cyberattacks in 2019

Week after week, hackers and cybercriminals crank out new phishing campaigns, launch creative digital extortion threats and continue expanding payment card scams. Cyberattacks remain the top concern of businesses, yet, only about 55% of Fortune 500 companies and 35% of small to midsized companies (SMEs) buy cybersecurity insurance, according to PC World. And, recovery from such an attack is costly according to Cisco’s 2018 Security Capabilities Benchmark Study: 54% of all cyberattacks result in financial damages of more than US$500,000, including, but not limited to, lost revenue, customers and opportunities, as well as out-of- pocket expenses.

read more
State of the Market: Energy

State of the Market: Energy

Much like energy resources themselves, the insurance marketplace for energy-sector businesses has abundant capacity. There is, however, upward pressure generally on rates in 2019, and some tightening in excess liability coverages specifically. To obtain the broadest coverage at optimal pricing, retail agents and their insureds should approach the marketplace in a strategic way and explore options for structuring their energy insurance programs.

read more
CAT+ Insurisk’s Exclusive CAT Focused Property Facility

CAT+ Insurisk’s Exclusive CAT Focused Property Facility

Insurisk is CRC Group’s exclusive products facility has recently launched CAT+, an A rated property capacity for middle market business that is primarily CAT-exposed. CAT+ can accommodate costal exposure risks from Texas all the way to the Carolinas.

read more

 

Excess & Umbrella REDY® Index Q1 2024
Excess & Umbrella REDY® Index Q1 2024
FTC Rule Banning Noncompetes: What You Need to Know
FTC Rule Banning Noncompetes: What You Need to Know
2024 Excess Trucking State of the Market
2024 Excess Trucking State of the Market
Challenging Construction Projects Demand Insurance Specialist Expertise
Challenging Construction Projects Demand Insurance Specialist Expertise
Earthquake Market Stabilizes After Year of Volatility
Earthquake Market Stabilizes After Year of Volatility
Unique Labor Law Makes Insuring New York Construction Projects Challenging
Unique Labor Law Makes Insuring New York Construction Projects Challenging
Navigating the Minefield of Insuring Healthcare Staffing Agencies
Navigating the Minefield of Insuring Healthcare Staffing Agencies
Property REDY® Index Q1 2024
Property REDY® Index Q1 2024
Errors & Omissions REDY® Index Q1 2024
Errors & Omissions REDY® Index Q1 2024
Private D&O REDY® Index Q1 2024
Private D&O REDY® Index Q1 2024
Cyber REDY® Index Q1 2024
Cyber REDY® Index Q1 2024
Healthcare State of the Market at a Glance
Healthcare State of the Market at a Glance