Category: Business Insurance

A great resource for both brokers and business owners who are trying to understand what type of business policy works best for them as well as keeping up with terms and changes within the industry. Being informed on the latest business insurance news can be easy with our online resouce updated daily.

California’s $5 Billion Cannabis Boom Faces Fiery Peril: Insurance Vanishes as Wildfires Close In

Angela Linders
California Cannabis Industry Wildfire Threat

Wildfire Threat Looms Over California Cannabis Industry California’s huge cannabis industry, valued at $5 billion, faces a precarious future as wildfire risks intensify and insurance options dwindle. The industry’s vulnerability is exacerbated by the withdrawal of major insurers and the inadequacy of the state’s FAIR plan to provide necessary coverage for cannabis growers. Rising Risk in Rural Areas Cannabis, a relatively new yet lucrative crop in California, is predominantly cultivated in rural areas, placing it at a significant risk from wildfires. According to recent research by the Department of Environmental…

Read More

Do You Require Commercial Truck Insurance?

Live Insurance News
commercial truck insurance

Large vehicles, such as trucks, used for company operations are expressly covered by commercial truck insurance. Tractor-trailers and other commercial truck kinds like the following are included in this: Trucks that haul trash Delivery vans Mixers for cement Tow vehicles Additional commercial vehicles In general, vehicle insurance with a focus on transportation companies and commercial truck drivers is known as commercial truck insurance. Various insurance may be required, depending on the kind of business you operate, to cover all potential responsibilities both legally and financially. Generally, commercial truck insurance covers…

Read More

Ransomware: To Pay or Not to Pay

David Derigiotis
Ransomware: To Pay or Not to Pay

When one threat actor group is taken down another one appears in its place ready to devastate organizations. The number one cyber threat? Ransomware. By 2031, ransomware will cost victims an annual total of $265 billion. Until recently, the largest ransomware payment was $40 million by CNA Financial to regain control of their systems. Now, Dark Angels—one of the top cyber threat groups to watch—broke the record for the largest ransomware payment by almost double the largest payment at $75 million. With ransomware attacks increasing and becoming more costly, the…

Read More

Maryland’s High-Stakes Race to Rebuild Key Bridge by 2028 Despite Legal Battles

Ester Adams
Francis Scott Key Bridge Crash 2024

Maryland is set to rebuild the iconic Francis Scott Key Bridge within the next four years, aiming for completion by fall 2028. This ambitious project carries an estimated cost ranging between $1.7 billion and $1.9 billion. The rebuild follows the bridge’s collapse on March 26, caused by a collision with the Dali container ship, leading to extensive damages and raising critical questions about maritime insurance and liability. Key Details of the Key Bridge Rebuild Plan David Broughton, spokesperson for the Maryland Department of Transportation, emphasized the significance of the project.…

Read More

Even utilities can’t get wildfire insurance

Nordstrom
wildfire insurance - Image of Electric Utility with fire in background

It’s not just homeowners and small business owners struggling to get coverage due to wildfires Wildfire season has now officially started, and some utilities have found themselves operating without wildfire insurance, which means they’ll be responsible for the full cost of any damages resulting from fires caused by their equipment. Utilities in the West have been struggling to find any coverage at all Power lines have been blamed for a number of fires over the last few years, and this has meant that utilities have faced an increasing struggle to…

Read More