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Real Estate

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Contractor/Subcontractor Uncertainty? The Solution Is Surety.

If your contracting or subcontracting business has not only survived but thrived during the three years of the COVID-19 pandemic, Surety bonds probably are not a top-of-mind concern for you — at least when it comes to private construction projects. But if you’ve struggled with payment, cash-flow or employment issues…

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The Role of Risk Management in Public Sector Insurance

When it is non-existent or poorly executed, risk management becomes the subject of intense scrutiny, especially when a municipality or public entity is assigned responsibility for an occurrence resulting in widespread damage or singular tragedy. “How did this happen?,” we demand to know. “And who is to blame?” From natural…

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A photo of insurance professionals meeting with construction workers on a job site.

Diligence, Innovation Keys to Construction Insurance Solutions

Step back from all the misery the COVID-19 pandemic has caused, including worker shortages and supply chain disruption. Take a good look at all the insurance challenges a years-long hard market for Property and Casualty coverage has created. Scan the landscape of damage from a multi-year series of catastrophic events…

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D&O Insurance for Private Companies and Nonprofits

When you accept an invitation to join a private organization’s board of directors, you might not realize that your activities as a current or former member could include fending off a lawsuit. Before you accept that invitation, ask whether the board is protected by Directors and Officers Liability Insurance, known…

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Performance-Based Insurance: Loss Control and Commercial Auto

A couple of years ago, a Texas company providing services to support the drilling and production of oil and gas wells had a problem. Its driver-safety record had become so troublesome that the state Department of Transportation had slapped it with the DOT’s poorest rating, and the company’s Commercial Auto…

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Benefits Compliance Update: 2022 Reporting Requirements

As a business owner or human resource professional, you’ve been through two years of pandemic-related regulations, adaptations and frustrations. Over the past couple of months, you’ve managed open enrollment for employee benefits amid a resurgent wave of COVID-19 infections and HR legislation, all while assisting colleagues with their demands and stresses — pandemic-related and otherwise. Now a new…

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Justin Foa: 2022 Forecast

If the past two years have taught us anything, it’s the value of preparing for the unexpected. Those who are able to be flexible and meet changing market conditions have a greater chance of success in times of stress and change. So, with that in mind… What do we see…

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A photo of a Justin Foa with a background of the NYC skyline during sunset.

Justin Foa: 2021 Year-in-Review Snapshot

The past year saw an extraordinarily hard insurance market, both nationally and locally.  On the national level, cyber liability, D&O liability, employment practices liability, property risks and excess liability have seen continued hardening.  Many industry watchers had forecasted that some increases would start to slow down in the second half…

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Artwork showing computer monitors displaying cybersecurity graphics.

Cyber Risk in the Manufacturing Industry: What You Need to Know

Cyber security continues to be of critical concern for the manufacturing industry in particular. According to the NTT Global Threat Intelligence Report for 2021, it is the second-most targeted industry, with only financial institutions seeing a higher frequency of cyber attacks. The same report reveals a staggering 300% increase in…

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A photo of a 2021 calendar with the months of October, November, and December circled and entitled 'Fourth Quarter Forecast'.

Commercial Insurance Market: Fourth Quarter Forecast

As many industry watchers have forecasted, the commercial insurance marketplace is now beginning to moderate. What does that mean? In short, smaller rate increases for most insurance—especially compared to the larger increases of the last couple of years. That isn’t to say that nobody is experiencing large increases. In many…

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Producer Profile: Brian Murphy

For Foa & Son V.P. Brian Murphy, knowing that he is helping his clients protect their business is the most rewarding part of the job. His background, which includes hands-on experience as a construction project manager, gives Brian unique insight into his industry specializations: trade credit insurance and construction/commercial real…

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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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What to Look for When Hiring a Commercial Insurance Broker

 Your current commercial insurance broker might have been the right choice a few years ago when the insurance market was soft, but 2020 is a different story. We’ve entered a hard insurance market, and rate hikes and coverage restrictions are expected to continue across most lines. But, with good advice...
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