Delaware Business Insurance Marketplace Update

After 25 years in the business insurance "business", I would say the current marketplace in Delaware is tumultuous. Some companies are raising rates while a few are decreasing rates. Work Comp rates are going up but not as bad as experience mods which are affecting every business in Delaware. Property insurance rates down near the beach are staying consistant but wind deductibles are increasing. Long haul trucking is practically taboo in the standard market as most of these businesses have to go to the specialty markets for coverage. A few major players have pulled out of the school bus coverage market which has created a stir amoung school districts. And finally, large businesses who pay lots of premiums are stepping into the captive arena and starting their own insurance companies. Whew ! there are lots of things going on in business insurance in Delaware. Stay tuned. Until next time be careful out there and Know your risks. K
Blog by G. Kevin Nemith, President of CNC Insurance Associates. Business Insurance, Enterprise Risk, and Small Business Insurance specialist serving, Delaware, Pennsylvania, New Jersey, & Maryland.

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