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insurance expert

A black and white photo of a building with the sign 'City Hall'.

Covid-19 creates need for municipal insurance audits

By RJ Impastato, A.R.M. -- Nearly 90% of municipalities with populations below 50,000 will experience sharp revenue declines tied to the coronavirus, according to survey data released by the National League of Cities and the United States Conference of Mayors. When searching for budget expenses to trim, your insurance program...
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May 18, 2020
A photo of two masked business women during the Covid-19 pandemic standing at a railing.

Post-Covid-19 Reopening Poses Challenges for Businesses

As the economy in the United States reopens following weeks of widespread stay-at-home orders, don’t expect a quick return to “business as usual.” Reopening requires a lot more than just flipping a switch. More than 73% of U.S. companies have not yet created a return-to-work strategy, according to a survey...
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May 11, 2020
An aerial photograph looking over a car dealership.

Why Auto Dealers Should Make Cybersecurity a Priority

By Greg Reddock -- Cybercrime is increasing in many industries, and the automotive sales industry is no exception. Auto dealers are under constant attack by cybercriminals because of the large quantities of customer data stored on dealership management systems and the hefty sums involved in car buying. In fact, 85%...
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April 28, 2020
A collage of coins, bullion, jewelry and other precious metals over top of hundred dollar bills.

Demand for Precious Metals Creates Opportunities for Thieves

By Michael Pearl -- With theft-in-transit being among the leading causes of insurance claims for loss of coins, bullion, jewelry and other precious metals, what guarantees that a dealer’s shipment of a collection of rare and valuable coins or precious jewelry using a common carrier will arrive intact? Today, because...
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April 7, 2020
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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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March 30, 2020
A photo of Michael Lieberman

A Special Message from Michael Lieberman Regarding COVID-19

“I hope this message finds you well”. Something I have said thousands of times in the past. Never before, have these words meant to much. Our lives have changed, and we all face an incredible challenge. Similar to a CAT 5 hurricane, we heard news of COVID-19 approaching. While some...
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March 23, 2020
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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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February 11, 2020
A photo of a mobile phone with the 2020 calendar displayed.

Rate Hikes and the 2020 Insurance Market

WHAT DO RATE HIKES MEAN FOR THE 2020 INSURANCE MARKET? After more than a decade of flat or decreasing premiums, prices rose across many lines in 2019. As the dust settles, you may be asking yourself what does 2020 look like? The property/casualty insurance market is at a point not...
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February 4, 2020
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A Closer Look at Directors and Officers (D&O) Insurance

If you’ve been on the fence about getting Directors and Officers (D&O) insurance for your private business, now is the time to take a closer look at its many benefits. For publicly traded companies, D&O insurance liability policies are an absolutely essential insurance. Shareholder lawsuits against the directors and officers...
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January 28, 2020
A screen capture of the Foa & Son website's homepage.

Foa & Son, Leading Insurance Brokerage Firm, Launches New Website

Foa & Son Corp. has launched a new website to serve clients and prospects who want to learn more about the firm and their unique abilities. Highlights include their specialty niches and international reach and expertise. Visitors to the site will be able to connect with experts in their particular...
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January 21, 2020
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Avoid Workers Compensation Insurance Traps for Non-USA Companies

Every state in the USA requires that workers injured on the job be covered by Workers’ Compensation insurance, and most USA employers know how to purchase this coverage as part of their normal business practices. However, complications can arise when non-USA companies send workers to the USA and these workers...
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January 14, 2020
A photo of a man in a suit seated at a desk covered with a laptop, a journal of graphs and data, and other office items.

Commercial Insurance Market Forecast for 2020: The Hard Market is Here

It is becoming increasingly clear that a hardening property/casualty insurance market has accelerated and gone global according to Chubb Chairman and CEO Evan Greenberg. With commercial insurance rates set to keep rising in 2020, are you prepared for the hard market? A year ago, we were seeing a slow, gradual...
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December 17, 2019
A photo looking down at an individual's luggage and passport.

How to Insure Your Employees During Business Travel

Employee business travel is an exposure that a business or enterprise of any size can face. Travel experts have noted that over a career of business travel the odds of an employee dying in a terrorist attack were around nine million to one. The odds of that employee falling ill...
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December 10, 2019
A graphic of a hooded figure imposed over a background with binary code and other programming languages.

What if Hackers Demand Ransom? Cyber Insurance Claims

Cyber insurance provides coverage when hackers demand ransom. Is your business covered in case of cyber extortion or a ransomware attack? Cyber extortion and ransomware attacks are on the rise, with even large organizations and entities falling victim. Hackers will gain access to a system, hijack it and take control,...
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December 3, 2019
A photo of a contractor wearing a tool belt with a hammer.

Anti Indemnity Statutes and Contractors

It’s almost impossible these days to find a construction contract that doesn’t include “hold harmless”, “indemnification”, “additional insured”, and/or “waiver of subrogation” provisions somewhere. These are clauses that attempt to hold the subcontractor legally accountable for job-site accidents and injuries. No one would argue that a subcontractor should not be...
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November 19, 2019
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Commercial Umbrella Liability Insurance

Most of our clients buy an umbrella or excess liability policy. With multi-million dollar jury awards becoming increasingly commonplace, it's a sensible thing to do. If you have any business relationships that require you to provide evidence of insurance, like leases or contracts for example, you’ll also see requirements for...
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November 12, 2019
A graphic of a computer mouse icon moving towards the word 'Security' on a computer screen.

Is Your Business Insured in Case of a Cyber War?

Iran recently shot down an unmanned U.S. surveillance drone aircraft flying in international airspace, sparking increased tensions between the U.S. and Iran. Military action was avoided, but the U.S. was reported to have launched a cyber attack on Iranian tech assets in response to the attack. U.S. cybersecurity companies, who...
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November 5, 2019
A photo looking down at a group of professionals, seated at a wood table, shaking hands and using their laptops and mobile devices.

Insuring Key People

You know you need properly written property insurance to insure such physical assets as buildings, machines or equipment, stock, inventory and so forth, to ensure the continued operations and profitability of your business. Aside from tangible physical assets, though, many businesses, especially smaller businesses with fewer employees and/or thinner management...
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October 29, 2019