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.

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.

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.

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.

It’s a frightening scenario for any organization—an employee is kidnapped while traveling or working abroad and held for ransom. Faced with a potentially life-and-death situation, family members and corporate managers have little time to decide how best to respond to the kidnappers’ demands and maximize the chances of a safe return. In such situations, kidnap and ransom insurance proves its worth. Kidnap and Ransom policies provide timely access to crisis and security experts to quickly deploy the most appropriate strategies for these dangerous situations. While the policies indemnify insureds for ransom and other expenses associated with a kidnapping, the accompanying crisis management services are among the strongest reasons for purchasing the coverage.