53% of independent workers think they don’t need self employed liability insurance

Self Employed Liability Insurance - Man sitting on couch using laptop

A new survey showed that more than half of freelancers think they don’t need any coverage. Fifty three percent of freelancers, independent contractors and small business owners feel they don’t require self employed liability insurance, said a new Qdos survey. Moreover, over half of those who think they don’t necessarily need it don’t have any coverage at all. The Qdos survey showed that 29 percent of those freelancers and independent contractors had no self employed liability insurance at all. That said, clients are coming to understand the importance of coverage…

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Despite huge cyber insurance market growth, it remains a tiny industry fragment

Cyber Insurance Market - Cyber Security

Businesses are catching on to the critical nature of this coverage, but there is a long way to go. The cyber insurance market represents a relatively new environment which comes with a high risk level. This requires insurance companies to use a cautious and meticulous strategy supported by reinsurance, according to a Moody’s Investors Service report. While the market growth is taking off, it still represents only a small fraction of the industry’s revenue. The cyber insurance market experienced a 26 percent cumulative annual growth rate in direct premiums since…

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Oil insurance rates “increased 10-fold” since Strait of Hormuz tanker attacks

Oil insurance rates - Oil Tanker

The attacks on oil tankers and U.S. spy drones since may have been driving the risk – and cost- skyward. Oil insurance rates to cover tankers transporting crude around the world have been rising sharply over the last couple of months. A US listed shipping company’s CEO pointed out that the recent attacks have spiked premiums. Since May, a U.S. spy drone and six oil tankers have been attacked near or within the Strait of Hormuz. That waterway is a strategic transport route that connects Iran, Oman and the United…

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Farmers market insurance important rises with farm to table trend

Farmers Market Insurance - Farmers Marekt - Fruit - Business

The rising focus on eating whole, fresh foods has underscored the importance of this coverage. Shopping directly from food growers has become an important trend and with that, farmers market insurance has been on the rise. For many people, buying what is in season and grown locally has become a way of life. As a result, farmers markets have become more common, larger, and busier. As a result, farmers market insurance has become much more commonly offered. This makes it possible for vendors at these local events to be able…

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Noah’s Ark amusement park sues its theme park insurance company for rain damage

Theme park insurance - Ark Encounter - YouTube

A multimillion dollar replica of the biblical boat and the park around it were damaged by storms. Following the damage of a replica of Noah’s ark and other related attractions, a theme park insurance company is being sued. Ark Encounter is located in Northern Kentucky. It filed a lawsuit regarding coverage for damages to the property following substantial rain. The insurance company has filed a suit for $1 million in repairs and additional costs. Ark Encounter filed a lawsuit against its theme park insurance company. It claims to want to…

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US places of worship are buying active assailant insurance amid rise in shootings

Active Assailant Insurance - Play of religious worship

Religious centers across the country are purchasing added coverage against this terrifying trend. Places of worship such as churches, mosques, synagogues and other types of temple and religious center are buying active assailant insurance and other special forms of coverage. This move is meant to help the centers to protect themselves financially in case of an armed intruder opening fire on their premises. Many religious congregations have found themselves reassessing their current insurance policies. Following a rise in the number of shootings occurring in houses of worship, these religious centers…

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Yoga insurance rises in popularity as instructors seek to cover themselves

yoga insurance - Yoga Post - woman

Teachers are discovering that despite their best efforts to instruct safe practices, injuries can occur. Even the best instructors who underscore safe, accurate postures are looking into yoga insurance on a rapidly increasing basis. This industry niche is helping yoga teachers to make sure they’re covered when injuries happen. Despite instructors’ best efforts some students use asanas incorrectly or push themselves too far. Most reputable yoga instructors require their students to disclose medical conditions that could affect their safety in class. They will also pay close attention to their students…

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