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Your center for insurance and risk management tips, news and trends.

What Property Managers Need to Know About Insurance

Posted by Parker Beauchamp on May 25, 2016

Real estate professionals have plenty to be bullish about in 2016. On the residential side, median home values rose 4.8% from March 2015, according to Zillow.

“A number of factors are driving this growth,” says Zillow. “And many are positive, including strengthening household formation, continued growth in jobs and wages, and general confidence and optimism in the overall value of homeownership, especially among younger generations.”

The commercial side isn’t bad either. CBRE, a major real estate services firm, predicts “moderate economic growth and low interest rates,” as well as a rise in rents across office, industrial and retail properties.

Property managers fulfill a critical role in this ecosystem, keeping investment properties running smoothly, whether those properties are ones they own or ones they manage on behalf of another entity.

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Topics: Business Insurance, Risk Management

How to Protect Company Data From Ransomware and Malware

Posted by Parker Beauchamp on May 18, 2016

Ninety-seven percent of businesses reported being victims to some type of malware attack in 2014. Many people may be familiar with the term malware—harmful software that can damage a system and its sensitive information—but did you know there are specific types of malware that your business should be extra cautious of, such as ransomware?

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Topics: Business Insurance, Insurance News & Trends

How Drones Are About to Transform Farming

Posted by Parker Beauchamp on May 11, 2016

If the market has its way, your grocery aisle might start listing local food as “drone-to-table.”

That’s because the worldwide market for agricultural drones is projected to grow nearly 750% by 2022, from $494 million to $3.69 billion, says AgProfessional.

According to USA Today, the drone—or unmanned aerial systems (UAS)—industry will spur more than “100,000 jobs… and nearly half a billion in tax revenue to be generated collectively by 2025, much of it from agriculture.” Those are significant implications for our economy and workforce.

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Topics: Business Insurance, Insurance News & Trends

EPLI: What it is and Why Your Business Needs it

Posted by Parker Beauchamp on May 04, 2016

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Employee lawsuits have risen nearly 400% in the last 20 years.

Oftentimes, paying out employee settlements can cause significant financial damage to your company, averaging $217,000 if you lose a court case.

There are, however, ways to protect your company against the mounting costs associated with employee-related lawsuits, such as legal fees and payment of damages. That’s where insurance coverages, such as employment practices liability insurance (EPLI), come into play.

With high-stake lawsuits posing a serious risk to any organization with employees, can your business really afford to not carry the right coverage?

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Topics: Business Insurance

The Cost of Glory: The Risks Athletes Need to Know

Posted by Parker Beauchamp on Apr 29, 2016

Note: A version of this post originally appeared on The Huffington Post. It was also updated on April 29, 2016 to include information regarding the 2016 NFL draft.

Student athletes spend years perfecting their skills on and off the field with hopes that they will be offered the dream of a lifetime: A scholarship to play college football. In other words, it’s the golden ticket they need to take their sports career to the next level, and potentially hit it big — by making “it” (and millions of dollars) playing in the NFL.

However, the haze of fame and popularity that surrounds most A-list players often overshadows an important reality: They must surround themselves with a team of trusted advisors

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Topics: Risk Management