If the past two years have taught us anything, it’s the value of preparing for the unexpected. Those who are able to be flexible and meet changing market conditions have a greater chance of success in times of stress and change. So, with that in mind… What do we see…
The past year saw an extraordinarily hard insurance market, both nationally and locally. On the national level, cyber liability, D&O liability, employment practices liability, property risks and excess liability have seen continued hardening. Many industry watchers had forecasted that some increases would start to slow down in the second half…
Cyber security continues to be of critical concern for the manufacturing industry in particular. According to the NTT Global Threat Intelligence Report for 2021, it is the second-most targeted industry, with only financial institutions seeing a higher frequency of cyber attacks. The same report reveals a staggering 300% increase in…
As many industry watchers have forecasted, the commercial insurance marketplace is now beginning to moderate. What does that mean? In short, smaller rate increases for most insurance—especially compared to the larger increases of the last couple of years. That isn’t to say that nobody is experiencing large increases. In many…
For Foa & Son V.P. Brian Murphy, knowing that he is helping his clients protect their business is the most rewarding part of the job. His background, which includes hands-on experience as a construction project manager, gives Brian unique insight into his industry specializations: trade credit insurance and construction/commercial real…
If your moderate to medium-sized business has sustained a property loss, waiting for the insurance claims process to complete can feel like forever. Timelines may differ between insurers or claims, and the process can go faster in some cases than in others. Waiting can be frustrating, but it can be…
“It’s not your supplier’s responsibility,” said Dana Bartholomew of Legit Fish during a recent episode of FOOD FOR THOUGHT. “Everybody in the supply chain has to take ownership of how they’re handling the product,” he continued. “How are they bringing solutions to the customer? This is a wave. It’s a…
If you’re in the food and beverage industry, you’ve heard it before… cyber risk is increasing all the time. The jarring recent JBS hack, which forced the largest global meat supplier to shut down every one of its U.S. plants and disrupted almost a quarter of the American beef supply,…
Is your insurance company holding your dealership captive? Greg Reddock can help! As a senior vice president at Foa & Son, Greg advises a diverse portfolio of clients on their risk management and insurance needs, including many prominent firms in automotive, real estate, construction, distribution, and manufacturing. In this infographic,…
Why you need Cyber Insurance It’s been all over the news. SolarWinds in January, 100,000 Microsoft Exchange Servers in February, CNA Insurance (a large provider of cyber insurance) in March. Cyber attacks are everywhere. A cyber attack incident will occur every 11 seconds in 2021. That’s almost double 2019’s rate,…
At Foa & Son, we pride ourselves on being true, trusted risk advisors. For 160 years, we have invested in developing and expanding our knowledge base specific to the industries that we represent. We also dedicate ourselves to providing expert guidance through good times and bad. While we always prefer…
In the fourth episode of “Food for Thought,” Foa & Son’s Michael Lieberman challenges viewers to change the way they think about food and beverage supply chain transparency. Lieberman, who hosts the new food and beverage risk management web series, spoke with John Keogh. Mr. Keogh is the managing principal…
