Authored by Sara Weathers According to Insurance Journal, a new study from insurer Hiscox has shown that cyber attacks against U.S. businesses are happening more often and costing more money than in previous years. The study showed that 47% of all US businesses have experienced a cyber attack in the past year and the number of businesses reporting these a...

Read More About Cyber Attacks Cause Increase in IT Spending in US

The AdvoCap Insurance Agency, Inc. team is headed to Las Vegas, NV, for Mass Torts Made Perfect seminar (MTMP) to be held October 12-14, 2022, at the Bellagio. We will be joined by our insurance partner Jack Compton with Shea Barclay. You may also run into our friends with Advocate Capital, Inc. Stop by the brand new AdvoCap booth #43 and say hello. While...

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Authored by Sara Weathers According to a recent Insurance Journal article, insured weather-related losses doubled to $80 billion globally from 2011-2020 compared to the prior decade. Even with the amount of flooding up, the amount of flood insurance coverage has remained low. With flooding in Kentucky, Mississippi, and Texas recently, more and more places...

Read More About Why the Climate Crisis Means Your Business Needs Flood Insurance

Authored by Sara Weathers A recent study by the Federal Reserve Bank of New York shows that 60% of inflation between 2019 and 2021 was due to higher demand from consumers, according to Insurance Journal. The other 40% can be attributed to supply chain issues affecting most industries. According to Julian di Giovanni, head of climate-risk studies at the Ne...

Read More About Inflation Mostly Caused by Demand Increase

Authored by Sara Weathers It’s been a quiet hurricane season so far. In fact, according to an article from Insurance Journal, this has been the quietest start to hurricane season in 25 years. However, business and property owners should still have a plan in place for when the first named storm of the season comes. NOAA, the National Oceanic and Atmospheri...

Read More About Preparing for Hurricane Season

Authored by Sara Weathers Having a risk management plan is important for your business in case of an unexpected event. However, having a strong plan can actually help your business grow, along with protecting it from unforeseen circumstances. There has been no shortage of obstacles for businesses in recent years with the pandemic, inflation, supply chain...

Read More About How a Strong Risk Management Plan Benefits Your Business

Authored by Sara Weathers Most people think that they only need to know the value of a property when they are buying and selling. However, as a property and business owner, there are many other benefits to knowing your property’s valuation. Property insurance is a necessity, especially as a business owner. When it comes to purchasing property insurance, i...

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Authored by Sara Weathers Cyber risk is increasing every day and because of that, cyber insurance claims are increasing too. A recent report from Fitch Ratings showed that the number of cyber claims increased by 100% in recent years, which is higher than other business claims, according to Insurance Business Magazine. Andrew Barnett, a cyber security expe...

Read More About Is Your Current Cyber Security Plan Enough?

Authored by Sara Weathers There are three main parts of the supply chain and businesses experience disruptions if any one of them is affected. According to a recent article from Liberty Mutual, all three have been affected in the past few years: production, distribution, and consumption. On top of the pandemic and personnel shortages, businesses have had...

Read More About How to Manage the Business Risks of Supply Chain Disruptions

Authored by Sara Weathers In a recent Insurance Business Magazine article, a new study from Allianz Global Corporate & Specialty revealed the top insurance claims from the last five years. Fires, natural disasters, and lack of maintenance in the workplace are some of the top causes of business insurance claims, according to AGCS. On top of these cause...

Read More About The Current Top Causes for Business Insurance Claims