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An aerial photo of marine cargo containers at a harbor.

Throughput Policies Give Retailers End-to-End Coverage

By Michael Boscaino -- Many retailers in riot-torn U.S. cities are learning the hard way that their property insurance isn’t nearly enough to cover the cost of inventory lost to looters. And even if they do file a theft or damage claim, the insured value of their lost inventory is...
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August 19, 2020
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Life Sciences Industry Risks Changing with the Times

Life sciences companies will face a new set of challenges in a post-Covid-19 world. Whether you’re an investor in a life sciences company, a contract development and manufacturing organization, CSO (Chief Scientific Officer) or the CEO, you’ll have concerns about how the “new normal” will affect your business operations. For...
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July 25, 2020
A photo of a woman dripping CBD oil into a coffee mug.

Insuring cannabis risks a lot like food, pharma

By Michael Pearl -- Cannabis-related businesses share many of the same exposures as agricultural, food & beverage and pharmaceutical manufacturers. They all require workers’ compensation, general liability and property insurance. However, only a handful of insurers have an appetite for cannabis-related business risks. Limits are often lower than many businesses...
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July 21, 2020
A nighttime photo of a city overlaid with lines to indicate Internet and network connections.

Tech Firms: Do you have the right insurance?

By Vincent J. Curatolo -- To get the best pricing and coverage for your tech firm in this hard insurance market, it’s important to partner with an insurance broker who has expertise in the sector. Your broker can help identify and analyze your exposures, and develop a risk mitigation strategy...
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July 4, 2020
A photo of an employee holding their head while they work at a laptop.

Self-funding Cuts Benefit Costs for Employers

By Nicos Mamatos -- Frustrated by the escalating cost of employee health insurance, small and midsize employers increasingly are turning to self-insurance. Employers that self-fund their employees’ health benefits save money by avoiding state premium taxes assessed on insured benefit plans, which shaves 1.5% to 3% off their annual cost....
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June 23, 2020
A photo at sunset of city buildings and a construction crane.

Contractors: Beware of flaws in subcontractor coverage

By Pete Carrucciu -- Hiring subcontractors is inherently risky in the construction industry because often their insurance is lacking. Developers, general contractors, and property owners or managers may become liable if a subcontractor does shoddy work and is found negligent. That’s why it’s crucial for those in construction ventures to...
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May 26, 2020
A black and white photo of a building with the sign 'City Hall'.

Covid-19 creates need for municipal insurance audits

By RJ Impastato, A.R.M. -- Nearly 90% of municipalities with populations below 50,000 will experience sharp revenue declines tied to the coronavirus, according to survey data released by the National League of Cities and the United States Conference of Mayors. When searching for budget expenses to trim, your insurance program...
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May 18, 2020
An aerial photograph looking over a car dealership.

Why Auto Dealers Should Make Cybersecurity a Priority

By Greg Reddock -- Cybercrime is increasing in many industries, and the automotive sales industry is no exception. Auto dealers are under constant attack by cybercriminals because of the large quantities of customer data stored on dealership management systems and the hefty sums involved in car buying. In fact, 85%...
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April 28, 2020
A photo of a carpeted grand staircase in an affluent home.

Protect Your Wealth with Bespoke Insurance Solutions

By Kevin Foley -- Conditions in the insurance market are changing the way successful families and individuals buy insurance. Insurers are struggling after three consecutive years replete with natural disasters. A record $105.7 billion in insured losses occurred in 2017 alone. In 2018, the U.S. saw a record 55 catastrophe,...
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April 21, 2020
A collage of coins, bullion, jewelry and other precious metals over top of hundred dollar bills.

Demand for Precious Metals Creates Opportunities for Thieves

By Michael Pearl -- With theft-in-transit being among the leading causes of insurance claims for loss of coins, bullion, jewelry and other precious metals, what guarantees that a dealer’s shipment of a collection of rare and valuable coins or precious jewelry using a common carrier will arrive intact? Today, because...
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April 7, 2020
A high angle view of the New York City skyline on a cloudy day.

NY Property Owners Vulnerable to Labor Law Claims

By Glenn Albert -- A landlord hires a painting contractor for a small interior paint job inside one of its buildings. While performing the work, the contractor’s employee falls off a ladder and suffers a serious injury. Normally, that worker would file a workers’ compensation claim to obtain insurance coverage...
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March 30, 2020
A photo of Michael Lieberman

A Special Message from Michael Lieberman Regarding COVID-19

“I hope this message finds you well”. Something I have said thousands of times in the past. Never before, have these words meant to much. Our lives have changed, and we all face an incredible challenge. Similar to a CAT 5 hurricane, we heard news of COVID-19 approaching. While some...
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March 23, 2020
A screen capture of the Foa & Son website's homepage.

Foa & Son, Leading Insurance Brokerage Firm, Launches New Website

Foa & Son Corp. has launched a new website to serve clients and prospects who want to learn more about the firm and their unique abilities. Highlights include their specialty niches and international reach and expertise. Visitors to the site will be able to connect with experts in their particular...
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January 21, 2020
A photo of a man in a suit seated at a desk covered with a laptop, a journal of graphs and data, and other office items.

Commercial Insurance Market Forecast for 2020: The Hard Market is Here

It is becoming increasingly clear that a hardening property/casualty insurance market has accelerated and gone global according to Chubb Chairman and CEO Evan Greenberg. With commercial insurance rates set to keep rising in 2020, are you prepared for the hard market? A year ago, we were seeing a slow, gradual...
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December 17, 2019
A graphic of a hooded figure imposed over a background with binary code and other programming languages.

What if Hackers Demand Ransom? Cyber Insurance Claims

Cyber insurance provides coverage when hackers demand ransom. Is your business covered in case of cyber extortion or a ransomware attack? Cyber extortion and ransomware attacks are on the rise, with even large organizations and entities falling victim. Hackers will gain access to a system, hijack it and take control,...
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December 3, 2019
A photo of a contractor wearing a tool belt with a hammer.

Anti Indemnity Statutes and Contractors

It’s almost impossible these days to find a construction contract that doesn’t include “hold harmless”, “indemnification”, “additional insured”, and/or “waiver of subrogation” provisions somewhere. These are clauses that attempt to hold the subcontractor legally accountable for job-site accidents and injuries. No one would argue that a subcontractor should not be...
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November 19, 2019
A graphic of a computer mouse icon moving towards the word 'Security' on a computer screen.

Is Your Business Insured in Case of a Cyber War?

Iran recently shot down an unmanned U.S. surveillance drone aircraft flying in international airspace, sparking increased tensions between the U.S. and Iran. Military action was avoided, but the U.S. was reported to have launched a cyber attack on Iranian tech assets in response to the attack. U.S. cybersecurity companies, who...
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November 5, 2019
A photo looking down at a group of professionals, seated at a wood table, shaking hands and using their laptops and mobile devices.

Insuring Key People

You know you need properly written property insurance to insure such physical assets as buildings, machines or equipment, stock, inventory and so forth, to ensure the continued operations and profitability of your business. Aside from tangible physical assets, though, many businesses, especially smaller businesses with fewer employees and/or thinner management...
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October 29, 2019