“Inland marine” could win the title for most misleading insurance term. Even if you’re entirely landlocked with no water for miles around, you might still need inland marine insurance. Inland marine insurance protects items that move around in some way, even if no water is involved. Here are the answers to some common questions about inland marine insurance:
The New York State Department of Financial Services has approved a redesign of the CPAP to improve fairness, accuracy, and participation. These updates affect all eligible construction policies with effective dates on or after October 1, 2025.
New York State continues to see positive trends in workers’ compensation. For the tenth year in a row, an aggregate rate decrease is expected. Additionally, the New York State Assessment dropped again in January 2025. With these encouraging trends setting the tone for 2025, let’s take a closer look at the specific updates to workers’ compensation rates and assessments that could impact employers across New York State.
As we move further into 2025, the surety bonding market in New York and Pennsylvania is poised for significant growth and transformation. Driven by economic, legislative, and technological factors, the future of surety bonding in these states presents both opportunities and challenges for contractors, surety companies, and stakeholders.
Subcontractors on a construction project face many risks, from serious injuries to property damage and costly delays. To avoid a big loss, make sure you’re adequately insured. Commercial general liability, workers’ compensation, inland marine and installation floater insurance are just some of the coverages you may need.
The surety bonding market is experiencing significant changes, driven by various economic and legislative factors.
Combining hold harmless and indemnity agreements with insurance provides comprehensive financial security for your organization, with state regulations. Proper handling of claims not only helps in reducing costs but also supports a safer workplace environment.
Surety bonds are often required for public and private projects, serving as a guarantee that contractors will fulfill their obligations. Building your surety capacity involves strengthening financial, operational, and relational factors to increase your bonding limits and instill confidence in surety providers.
Effective management of workers’ compensation claims involves prompt investigation, thorough documentation, timely reporting, and active management.
By taking a proactive approach to cybersecurity and implementing the best practices outlined in this article, you can help protect your organization from a cyber attack and, if one occurs, minimize the impact on your business.
