Fall 2018
The Six Insurance Trends to Keep an Eye on in 2019

2018 has been an interesting year ­­— a year that has left the insurance industry scrambling to construct the right coverages for our country’s evolving needs. As agents, there are a number of trends and pending changes that we are keeping our eyes on in 2019. From sexual harassment to forest fires to self-driving cars, here are six areas to be aware of as the New Year quickly approaches.

Employment Practices Liability Insurance (EPLI) - EPLI covers a wide variety of issues that businesses face in today’s world, we’ll cover a few here that you may, or may not know. With the Baby Boomers still in the workforce, age discrimination is still prevalent. Wrongful termination, where employees feel they were dismissed or felt they had no choice but to resign, have also increased in number.
Builders' Risk — Covering Construction Liability

One undeniable fact about the construction industry is that there is always the presence of risk. While contractors do have control over many factors, they simply cannot control them all. Even the most careful companies or observant property owners can find themselves on the losing end of employee carelessness, theft from a job site, or natural disaster.

Why Builders' Risk?

While Workers’ Compensation and liability coverage will provide protection for employee injuries or accidents, it is imperative to have additional coverage to protect any other insurable interests such as building materials, fixtures, and equipment that could be physically damaged during construction. A lender is certainly going to require evidence of this coverage in place prior to the construction loan closing. This is where a Builders’ Risk policy comes into play.
Why is My Auto Insurance Premium Going Up?

We are constantly asked why auto insurance premiums are going up so regularly. Unfortunately, I can tell you from a recent life experience. I was at a swim meet, and another driver was nice enough to “hit and run” the front end of my car.

What would have been a fender-bender 10+ years ago turned into a $5,600 claim due to (a) 2 broken sensors, (b) a cracked front side camera, (c) a 1-piece collapsible bumper that needed to be replaced in whole, and (d) a fog light…which has never been used (didn’t even know I had “fog lights”).

How Workers' Compensation Underwriters are Looking at You

The world of insurance underwriting has changed to keep up with today’s business world. It used to be buyers submitted an insurance application along with 3-5 years of loss history, they received a quote and then a policy was issued if the quote was acceptable.

That is simply not the case anymore. With changes in technology and the internet, insurance underwriting has adapted as well. Your online presence and reputation is now a crucial factor for underwriter consideration. Here are some items for businesses to consider when it comes to Workers Compensation underwriting.
What's Happening at Georgetown Insurance Service, Inc
Have you seen our new column?

The world of insurance is complex, sometimes stressful, but also incredibly rewarding. We wanted to give our customers insight into what we do, who we are, and why we love our jobs. To help fulfill this goal, we created a monthly feature entitled "Life at Georgetown."

Check it out on our blog!

We are proud to be an official local drop off site for the Marine Toys for Tots Foundation. For more information on what and how to donate, please visit our website .
Media Spotlight

Georgetown Insurance Service, Inc. was recently featured in Construction Executive Newsletter and Independent Agent Magazine. Check it out!

Copyright © 2018 Georgetown Insurance Service, Inc. All rights reserved.
Silver Spring Office: 
10010 Colesville Road, Suite A
Silver Spring, MD 20901
(301) 681-9645
Frederick Office:
5300 Westview Drive, Suite 106
Frederick, MD 21703 
(301) 696-8104  
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9990 Fairfax Blvd, Suite 115
Fairfax, VA 22030 
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