At AdvoCap Insurance Agency, Inc., we are excited to let you know that we now offer Notary Bonds and Notary E&O Insurance. As all of our friends at law firms know, there are many transactions and circumstances that need a notary public. If your firm already has a notary that needs to renew its commission or is considering getting someone at the firm a...

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Authored by Sara Weathers Climate change and the natural disasters that come with it are becoming costly for insurance companies. According to a recent Insurance Journal article, the total insured damages in 2022 cost $120 billion. Insurance is meant to give its customers comfort that they are covered when disasters hit by paying small premiums but when m...

Read More About How Climate Change is Affecting the Insurance Industry

Authored by Sara Weathers A recent Insurance Journal article stated that natural disasters in 2022 caused $313 billion in damages, with only $132 billion covered by insurance. 2022 comes in as the fifth most expensive year for insurers. Around 42% of the damages were covered by insurance, which converts into a protection gap of 58%, currently the lowest g...

Read More About Global Insured Losses in 2022

Authored by Sara Weathers According to the latest cyber report from Beazley, a global insurance firm specializing in cyber security, professional service firms are being increasingly targeted by cyber attacks. One reason firms are being targeted is the amount of data they have on their servers. Even if the data that firms have is old and may not be useful...

Read More About Increased Cyber Risks in 2023

Our office will be closed on Monday, February 20th, in observance of Presidents’ Day. We wanted to share with you some interesting facts about this upcoming holiday. In the 1880s, our nation celebrated our first President’s birthday. George Washington was born on February 22, 1732. In 1968, this holiday was expanded to include celebrating the birthday of...

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Authored by Sara Weathers Insurance Journal recently shared a report from Allianz Global Corporate & Specialty (AGCS) that shows Directors & Officers insurance buyers are seeing more competitive offers from new insurers entering the market. The report also showed that the field has a high risk for more frequent and serious claims in 2023. The repo...

Read More About Risk Factors That Could Affect D & O Insurance Buyers

Introduction Authored by Rebecca Stottlemyer, Body Authored by Jack Compton AdvoCap has a special partnership with SGP Advisors which enables us to bring together a first-class insurance team to advise plaintiff lawyers. Jack Compton has been with SGP Advisors since 2011. He has brought us some valuable information below about the importance of cyber cove...

Read More About Cyber Insurance in 2023

AdvoCap Insurance Agency, Inc. has had a special partnership with Shea Barclay Group for years. We are excited to announce that Shea Barclay Group is now SGP Advisors and wanted to share with you their great news. In a recent announcement to clients, SGP Advisors shared the following: "This year, our company found an opportunity to reinvigorate our brand....

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Authored by Sara Weathers Commercial insurance rates that skyrocketed last year are beginning to fall and stabilize, according to a recent Insurance Journal article. Directors and officers liability insurance is already down 2.5% and rates could fall as much as 7.5%. Cyber insurance rates are not expected to rise after many years of price increases. While...

Read More About What to Expect in 2023 with Commercial Insurance Rates

In observance of the Martin Luther King, Jr. holiday, our office will be closed Monday, January 16, 2023. We hope that you enjoy this time with your friends and family. Click here for more information on the holiday. Please feel free to visit our website and check out all the great things that AdvoCap Insurance Agency, Inc. has to offer. Photo Credit: 123...

Read More About Holiday Hours: Martin Luther King, Jr. Day