Times are certainly changing. That might sound obvious, but have you ever really stopped, looked around, and realized just how much times have changed? You don’t have to look far. Take schools, for example – at one time, it was enough to show up with a can-do attitude and a fresh #2 pencil. Nowadays, kids receive laptops/iPads and submit everything via “the cloud.”
Sports are nearly unrecognizable. Sure, the local leagues and recreation centers still exist; however, the kids these days appear to show up with the entirety of Dicks Sporting Goods in a costly bag vs. the 20-year-old hand-me-down gear the league provided for everyone to share back in the day. Oh, and if you don’t play your sport year-round by the age of 8, you’re already behind!
2020 catapulted changing times in the modern workforce. While some companies operate virtually here and there, it’s now the norm across most verticals.
Take Bob Dylan, for example – in 1965, he wrote the Rock-n-Roll classic “The Times, They Are a-Changin’” that provides the title of this very blog. In 1965, no one would have predicted that cyber-attacks would even be a thing, much less that anyone could be a victim of one. Suing your employer for wrongful treatment was more so “biting the hand that feeds you.” OSHA didn’t come around until 1971 and only The Jetsons had ZOOM.
Commercial Insurance is certainly not immune to the changing times. As our title suggests, as an insurance broker, your offering must change with it!
Offering General Liability, Commercial Auto, and Workers Compensation is not enough to fully protect insureds from the ever-growing exposures of 2022.
The team at Conway E&S recommends that the following becomes a standard offering for every insured:
- Cyber Liability – in this day and age, organizations are exposed to cyber threats regardless of business size, operation, or industry.
- Employment Practices Liability – lawsuits against employers have skyrocketed in the last decade and will most likely continue.
- Risk Management/Engineering – the best way to help insureds become better insureds and get the most out of the market is by implementing proper and effective risk management processes.
- Insurance as a Service – providing more than just coverage is more critical than ever. Commercial Insureds benefit most from a partner and consultant that can add value beyond a policy!
Conway E&S is fortunate to work with many fantastic agencies, and it is our goal to do everything we can to help each of our agency partners succeed and provide value to their insureds. With decades of experience and a group of entities that comprise Conway Holdings Group, our Agency Partners can offer the new industry standard and deliver as much value as possible.
Let us know some of the ways you’ve seen the industry changing.