Over the last few years, the rate of ransomware attacks and other cybercrimes have skyrocketed in both frequency and severity. As employees continue working from home due to the lingering pandemic, they create, access, and share more data remotely, causing the number of security blind spots to balloon and creating space for costly attacks.

The North American Industry Classification System (NAICS) reports that there are around 1.3 million U.S. contractors with annual revenues of less than $5M. While virtually all are protecting their businesses with General Liability, Workers Compensation, and other insurance coverages, many have failed to consider purchasing professional/pollution liability insurance, even though both are not covered under a typical commercial general liability (CGL) policy.

Healthcare is a diverse industry, ranging from individual practitioners and home health nurses, to ambulatory care centers and integrated systems with revenues in the billions of dollars. The risks along that spectrum also vary widely, but the insurance marketplace for healthcare organizations has been almost uniformly tight. Several insurance companies that underwrote healthcare business for decades have withdrawn from some classes, citing high loss ratios. In their place, new sources of capacity have emerged. Historically, the presence of new entrants has signaled competition and a loosening of terms, conditions and rates. Unfortunately for insureds, that is not happening in the current marketplace. It's a challenging environment that requires retailers to approach the renewal process differently.

CRC strives to put the client first by analyzing coverage issues to provide valuable insights that can help facilitate claim resolutions. Recently, CRC Group’s Claims Advocacy Team assisted a privately held financial services company in reversing a coverage denial and obtaining a full defense against a baseless class-action lawsuit related to a Ponzi scheme.

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.