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Kapnick Insurance is your trusted independent insurance brokerage throughout the United States and internationally.

Your family, your business and your possessions are all important, but you may not know how to best protect them. We have the experience to navigate your unique risks.
Kapnick News

Kapnick’s 2024 Kick Off

It was with great pleasure that Kapnick Insurance kicked off the year 2024 at MotorCity Casino, to get hyped up for a year already shaping up to be full of promise and progress. The day was filled with reflection, inspiration, and motivation. The Year Behind Us & Year Ahead The day began with our 2023 Year in Review video, which offered attendees an opportunity to look back on 2023 and all we accomplished and celebrated together. This was followed by an informative panel discussion with a few of our esteemed carrier partners, who provided valuable insights into the current market.…
February 1, 2024
Business InsuranceKapnick News

Kapnick Insurance Welcomes New Commercial Insurance Client Executive

Kapnick is proud to announce the appointment of Sean Carriveau as a new commercial risk Client Executive, based in our Ann Arbor office. Sean, an accomplished professional with significant experience, joins Kapnick with a strong background in business management and a commitment to client service. He has a degree from Oakland University . In his new role, Sean will leverage his skills and expertise to provide bespoke commercial risk solutions to clients, ensuring their businesses and lives are not compromised due to unexpected losses. His focus lies in building enduring relationships and delivering tailored insurance solutions that align with their…
December 13, 2023
Employee BenefitsKapnick News

Kapnick Insurance Welcomes New Employee Benefit Client Executive, Geoff Finger

Kapnick is pleased to announce the addition of Geoff Finger to our team as an Employee Benefit Client Executive, based out of the Troy office. Geoff brings with him an impressive track record in the industry, having served clients of all sizes and from diverse sectors. His extensive experience and creativity make him a valuable addition to Kapnick's growing team. Geoff shared his excitement about joining the Kapnick team, saying, "I'm thrilled to be part of Kapnick Insurance. The opportunity to grow professionally in a place where I can truly serve clients is invigorating. What really drew me to Kapnick…
December 13, 2023
Employee BenefitsKapnick News

Kapnick Insurance Expands Reach with Acquisition of Michigan Group Benefits

We are delighted to announce the strategic acquisition of Michigan Group Benefits! This transformative transaction represents a significant milestone in our growth plans, expanding our capabilities and solidifying our position in the group benefits industry. The acquisition will also expand our geographical footprint, as we will retain Michigan Group Benefit’s East Lansing office. (more…)
September 14, 2023
Kapnick News

Kapnick Launches Innovative Apprenticeship Program, Offering Young Talent Job Experience and a Paid College Degree

Kapnick is thrilled to announce the launch of our groundbreaking new apprenticeship program. This program reflects our dedication to fostering young talent in the insurance industry while also investing in the communities where they do business. "Although it may not be on many people's list of dream professions, an insurance career is both rewarding and challenging," said Mike Kapnick, Chief Operating Officer of Kapnick. “We’re excited to create this program as another outlet—alongside our well-established summer internship program—for emerging professionals to be exposed to an industry that values growth, innovation, and work-life balance. And one most might never consider otherwise.”…
Kapnick NewsMarket Forecast

2023 Market Forecast

Market Insights from Kapnick Insurance Over the past couple years, it’s felt like the world is constantly changing and evolving, making it difficult for organizations to keep up. While insurance tends to be steadier than many industries, it’s not without fluctuations. This is where Kapnick comes in – we’re here to help you thrive, not just survive. We have a deep understanding of the industry and what it takes to stay (more…)
February 1, 2023
Kapnick NewsMarket Forecast

2022 Mid-Year Market Update

Market Insights from Kapnick Insurance The business insurance marketplace in 2022 continues to face challenges, though there is good news on the horizon—the rate of increases has slowed across almost all lines and we hope to see rates softening as we move into 2023. The cause of the hard market that businesses continue to face is multi-faceted, including: (more…)
Kapnick News

A Look Inside the History of Kapnick Insurance

Many people have heard of or seen Kapnick Insurance in one way or another, but probably don’t know about our vast history. Take a look inside the history of Kapnick Insurance and how it all got started when Doug, Jim, and Mike sat down with WJR’s Business Biography’s host Jeff Sloan. Kapnick was founded in 1946 by Elmer Kapnick. He started the company out of necessity, (more…)
Kapnick News

Kapnick Insurance 2021 Year in Review

From our 2021 Year in Review: As we welcome the new year, Kapnick Insurance reflects back to 2021 and our 75th year in business with fondness and pride. Founded in 1946 by Elmer Kapnick, our firm was originally focused on personal and small commercial insurance, but has since grown into one of the largest, most respected independent brokers in the nation. (more…)
February 1, 2022
Kapnick NewsMarket Forecast

2022 Market Forecast

Market Insights from Kapnick Insurance The past few years have been challenging for both businesses and the insurance industry. The increased frequency and severity of claims, social inflation, the COVID-19 pandemic, medical inflation, trends in cybercrime, the cost of reinsurance, natural disasters and investment returns have all fundamentally reshaped the insurance market as we know it. (more…)
January 19, 2022
Kapnick NewsMarket Forecast

2021 Mid-Year Market Forecast

The business insurance marketplace in 2021 continues to be hard. Rates are increasing and capacity is decreasing. The cause of the hard market is multi-faceted, but follows a 10-year period of a soft market in which rates decreased and capacity in the marketplace was not an issue. Most believe COVID-19 is still impacting rates, including pricing, (more…)
Kapnick NewsMarket Forecast

2021 Market Forecast

A Letter from Jim Kapnick, CEO I began my introduction to last year’s market forecast with the note that 2019 was a year of both challenges and opportunities. Most would say 2020 was a year of straight challenges. In the US, social upheaval and an election cycle meant uncertainty and stress, while the lingering coronavirus pandemic brought considerable devastation (more…)
Auto ReformPersonal Insurance

The Bare Minimum Could Leave You Bare

We all know that car insurance is important. But sometimes, in an effort to save money, people will buy the bare minimum. Unfortunately, this could end up costing them more in the long run if they're involved in an accident. The following is a excerpt from our article The Bare Minimums Could Leave You Bare on why buying the bare minimum auto insurance is a risky move, and what to focus on instead. What To Do If You Can't Afford Full Coverage Finding a good balance (more…)
February 7, 2023
Auto Reform

MCCA to return surplus funds to Michigan auto policyholders

If you’re a driver in Michigan, you’ve no doubt heard that the Michigan Catastrophic Claims Association (MCCA) has acted upon Governor Whitmer's call to return surplus funds to Michigan auto policyholders and will begin the process of refunding $400 per vehicle to Michigan drivers who were insured as of 11:59 pm on October 31, 2021. Updated 3.22.2022 Governor Gretchen Whitmer has directed (more…)
February 3, 2022
Auto Reform

No-Fault Reform Update: How Benefits Are Prioritized

Keeping up with the most current information surrounding the No-Fault Reform can be challenging. Today we will cover exactly how benefits are prioritized in this update. What is Changing? PIP – Personal Injury Protection (PIP) will be transitioning to tiered levels of coverage. Drivers will have the ability to choose from various tiers that best fit their individual needs. These offerings include: (more…)
Business Insurance

Protect Your Business’s Future with Trade Credit Insurance

In today's unpredictable market, safeguarding your business's financial health is essential. Trade credit insurance represents a pivotal shield, ensuring that your company remains robust against the sometimes-unpredictable tide of trading on credit. Here's why prioritizing this insurance is not just smart but could be imperative for your business’s longevity and prosperity. (more…)
February 26, 2024
Business Insurance

Understanding the New DOL Definition of Independent Contractor

On January 9, 2024, the U.S. Department of Labor issued a final rule to provide a clear definition of an "independent contractor" as outlined in the Fair Labor Standards Act (FLSA). This new rule replaces a previous 2021 rule and introduces a comprehensive six-factor test that focuses on assessing the "economic reality" of the relationship between a potential employer and a worker. The DOL's intent behind this is to enhance clarity and ensure a more accurate determination of worker classification. (more…)
January 23, 2024
Business InsuranceKapnick News

Kapnick Insurance Welcomes New Commercial Insurance Client Executive

Kapnick is proud to announce the appointment of Sean Carriveau as a new commercial risk Client Executive, based in our Ann Arbor office. Sean, an accomplished professional with significant experience, joins Kapnick with a strong background in business management and a commitment to client service. He has a degree from Oakland University . In his new role, Sean will leverage his skills and expertise to provide bespoke commercial risk solutions to clients, ensuring their businesses and lives are not compromised due to unexpected losses. His focus lies in building enduring relationships and delivering tailored insurance solutions that align with their…
December 13, 2023
Business InsuranceFrom the ExpertsInsurance Update

UNDERSTANDING THE RISING COMMERCIAL INSURANCE RATE ENVIRONMENT

In the evolving economic landscape, commercial insurance rates continue to trend upward. As your trusted partner, our focus is on empowering you to understand the reasons behind these increases and offer strategies to help you take control of your destiny. Together, we can roll up our sleeves and put in the work necessary to improve your risk profile through strategic decisions and implementing effective measures that ultimately make you a more appealing risk to carriers. As always, our commitment is to work alongside you, leveraging our expertise and resources to help you beat the market trends. RATE TRENDS According to…
November 22, 2023
Business Insurance

Introducing Kapnick Private Equity Specialists

At Kapnick Insurance, our Private Equity Practice Group consists of seasoned executives and industry veterans who are dedicated to addressing the unique challenges and opportunities that exist within the private equity sector. Led by the accomplished duo of Doug Miller and Melissa Selke, our nine-member team is known for delivering high-level solutions tailored specifically for private equity leaders. Our approach isn't just about marketing; it's about providing expert solutions and tangible value that align with your needs. In today's dynamic mergers and acquisitions climate, our innovative insurance risk capital solutions play a crucial role in bridging the gap between buyers…
October 25, 2023
Business Insurance

The Impact of Nuclear Verdicts on Commercial Insurance

In the complex realm of commercial insurance, understanding potential threats and risks that could affect a business is essential. A significant threat that has emerged in recent years is the phenomenon known as nuclear verdicts. Nuclear verdicts have far-reaching implications for both the insurance industry and businesses. WHAT ARE NUCLEAR VERDICTS? Nuclear verdicts are defined as jury awards where the penalties exceed an astonishing $10 million. In recent years, these types of verdicts have seen a substantial increase, causing a ripple effect throughout the insurance industry. It is not only the rising frequency of these verdicts that is concerning but…
October 23, 2023
Business Insurance

The Crucial Role of Contract Review in Manufacturing: Partnering with Kapnick Experts

In the realm of manufacturing, contracts act as the operational spine, weaving together manufacturers, suppliers, subcontractors, and partners under a common understanding of expectations and responsibilities. A single misstep in contracting can expose a manufacturer to significant risks, highlighting the critical role of contract review and the transformative power of partnering with experts at Kapnick. (more…)
October 17, 2023
Business Insurance

Unveiling the 2023 Non-Profit Benchmark Report

Every non-profit organization, irrespective of its mission, shares a common goal - to make the world a better place. This noble aim brings with it unique and specialized needs. In our ongoing effort to provide industry-specific insights into insurance buying decisions, we're excited to announce the release of our 2023 Non-Profit Benchmark Report. (more…)
Business InsuranceFrom the Experts

Navigating Professional Liability in the Construction Industry

In the evolving landscape of construction, contractors often find themselves providing professional advice, straddling the line between design and construction. This shift has led to an increased exposure to professional liability, necessitating a closer look at Contractor’s Professional Liability Insurance.   General liability insurance covers bodily injury or property damage resulting from negligence, but what about financial damages caused by negligent professional advice? That's where professional liability insurance comes in handy. (more…)
September 12, 2023
Business InsuranceInsuranceInsurance Update

Unlocking Industry Insights: The 2023 Manufacturing Benchmark Report

Navigating the intricate landscape of the manufacturing industry, especially when it comes to risk management, requires a deep understanding and specialized coverage solutions. Here's where Kapnick Insurance shines. As part of our ongoing commitment to provide industry-specific insights, we're excited to share our 2023 Manufacturing Benchmark Report. (more…)
Business InsuranceLegislative UpdatesRisk Solutions

Strengthening Safety and Mitigating Risks: Solutions Amid Michigan’s Overruling of Open and Obvious Defense in Slip and Fall Litigation

In a landmark decision, the Michigan Supreme Court has recently overruled decades of case law regarding the open and obvious defense in slip and fall litigation. This ruling has far-reaching implications for property owners, as it eliminates a commonly used defense strategy. It is crucial for business leaders to understand the implications of this decision and take proactive steps to address the issue. Kapnick can help. (more…)
Business InsuranceRisk Solutions

Implications of Michigan Supreme Court Overruling Open and Obvious

The recent ruling by the Michigan Supreme Court to eliminate the open and obvious defense in premises liability cases has significant implications for property owners. This ruling removes a common defense used to avoid liability, potentially leading to more cases being filed and higher litigation expenses for property owners. To prevent financial losses in premises liability cases, property owners need to take proactive steps and implement effective safety measures. Here's what you need to do: Conduct regular inspections and maintenance checks on all areas of your property, both inside and outside. Proactively identify potential hazards through regular assessments to address…
Business InsuranceInsuranceInsurance Update

Unlock Insights with Our 2023 Construction Benchmark Report

As a business owner, you know that the decisions you make can have significant impacts on your success. That's why we have exciting news to share! Our latest industry-specific benchmark report focuses on the purchasing decisions of insurance buyers in construction, and we've just released our benchmark report for 2023. The construction industry generates $1.3 trillion of economic activity annually and employs almost 8 million people. As we navigate the uncertain economic climate, knowledge is power. In 2021, overall construction spending increased by 7 percent, while residential construction spending decreased this year. Infrastructure spending has seen an uptick-- thanks in…
Business Insurance

Be Ready: Safeguard Your Business From Unexpected Disruptions

Business interruption is a time when a company is unable to operate because of a negative event, like a fire or flood.  These unexpected disruptions are one of the most worrisome business hazards in today's environment of rising unpredictability. These interruptions can be very expensive and even fatal to your organization if you don't plan carefully. Read on to find out how you (more…)
Business InsuranceEmployee Benefits

Experts in Michigan and Beyond

Wherever you’re located, you want on-the-ground, local experts to ensure you have the best access, resources, and insider knowledge. At Kapnick, we provide this. While Kapnick is the largest privately-owned insurance brokerage in Michigan, our reach extends far beyond our beautiful Great Lakes’ State’s borders. And if we don’t have direct, personal experience (more…)
Business Insurance

Construction Benchmark Report Now Available

You have a lot of decisions to make on a regular basis that have big impacts on your business. So we’ve got big news that can help you! As part of our series of industry-specific benchmark reports on the purchasing decisions of insurance buyers, we just published a 2021 Construction Benchmark Report that dives deep into the decisions made by construction company (more…)
February 28, 2022
Business InsuranceFrom the Experts

The Underwriting Process for Cannabis Risks

The underwriting process for cannabis risks is unique to the cannabis industry. Unlike many other industries, underwriting moves quickly. At Kapnick, we pride ourselves on being flexible yet aggressive. In many cases, carriers will quote based on applications as opposed to accord forms, so having a marketing and service team with strong connections to (more…)
December 8, 2021
Business InsuranceFrom the Experts

What exactly is a surety bond for cannabis, anyhow?

A cannabis surety bond can range from $5,000 to $5,000,000 and provides a financial guarantee to a state or municipality that a company will perform according to the laws and regulations governing your license. A surety bond does this in two ways: 1. By requiring companies to be bonded, additional scrutiny of company and leadership’s finances and credit ensures (more…)
November 29, 2021
Coronavirus

Tips and Tricks on Working from Home with Kids

Kids are off school. You are working remotely, possibly for the first time ever. Everyone is staying home to stay safe, and trying to find a new normal. Juggling your responsibilities won’t be easy, but by following some tips and tricks, you can establish some household best practices to make the transition easier for everyone.
Protect your workplace from the CoronavirusCoronavirus

Protect Your Workplace from the Coronavirus

Much is unknown about how the virus that causes Coronavirus Disease 2019 (COVID-19) spreads, but following best practice guidelines for dealing with infectious diseases is the first step toward protecting your workforce. Below are guidelines on how to plan and respond to COVID-19 from the CDC, along with an HR-specific FAQ on how to handle infectious disease outbreaks, and how to create a plan to protect employees who may be exposed to disease at work. While protecting your office, be sure to remain vigilant on compliance and liability concerns. Employers must prevent stigma and unlawful discrimination by taking into account…
Employee Benefits

Elevating employee health: Kapnick Strive can help with preventive care

In a time when our schedules rival rush-hour traffic, taking a moment for a well-visit might seem like a low priority. Yet, these check-ups hold the key to employee well-being and, can ultimately impact a company's success. How do we encourage employees to conquer these challenges and prioritize well-being? Enter Kapnick Strive. Kapnick Strive is a worksite well-being program that bridges the gap between good intentions and action. With robust communication campaigns, onsite screenings, and educational opportunities, Strive is designed to make preventive care top-of-mind for employees. By bringing these resources directly to the workplace, Strive eliminates barriers such as…
February 26, 2024
Employee Benefits

Leveraging Employee Benefits for Mental Health: A Roadmap for Employers

Addressing the mental health and emotional well-being of employees is a crucial aspect of modern corporate culture. Companies are increasingly understanding that happy and mentally fit employees are essential for creating a productive and positive working environment. One way to achieve this is by offering employee benefits designed to support their mental health. These benefits not only help to prevent burnout and reduce stress but can also foster a workforce that is more engaged, resilient, and satisfied. (more…)
January 23, 2024
Employee BenefitsKapnick News

Kapnick Insurance Welcomes New Employee Benefit Client Executive, Geoff Finger

Kapnick is pleased to announce the addition of Geoff Finger to our team as an Employee Benefit Client Executive, based out of the Troy office. Geoff brings with him an impressive track record in the industry, having served clients of all sizes and from diverse sectors. His extensive experience and creativity make him a valuable addition to Kapnick's growing team. Geoff shared his excitement about joining the Kapnick team, saying, "I'm thrilled to be part of Kapnick Insurance. The opportunity to grow professionally in a place where I can truly serve clients is invigorating. What really drew me to Kapnick…
December 13, 2023
Kapnick Lens LogoEmployee Benefits

The Transformative Impact of Claims Reviews with Kapnick Lens

In the intricate maze of employee benefits management, claims reviews are essential. Far from being mere administrative tasks, these reviews serve as strategic tools that enable the seamless management of employee benefit programs. Benefits of Claims Reviews Some of the important benefits that claims reviews provide include: Set the stage for the creation of benchmarks and targets that resonate with both the organization and its employees. Allow for the development of custom benefit designs tailored to these benchmarks and targets. Identification of core administrative services, assessment of vendor performance, and cultivation of productive vendor relationships. Aid in the day-to-day administration…
October 23, 2023
Employee Benefits

Securing the Future: How Insurance and Employee Benefits Can Propel Non-Profits Forward

In the ever-evolving landscape of non-profit organizations, financial uncertainty and safeguarding the health of the organization are paramount. Unforeseen circumstances can strike at any moment, negatively impacting the financial resources, tarnishing the reputation, and increasing the difficulty of fundraising and recruiting staff. At Kapnick, we take a one firm approach to insurance and benefits and can use our holistic approach to help your non-profit address future trends. (more…)
October 17, 2023
Employee Benefits

AI in HR: Balancing Efficiency and Compliance in Employment Decisions

In today's digital age, organizations are increasingly turning to artificial intelligence (AI) to revolutionize their HR processes. Approximately 25% of companies now utilize AI for recruitment, hiring, performance evaluations, and retention determinations, according to the Society for Human Resources Management. While AI offers numerous advantages, such as improved efficiency, objectivity, and decision-making, it also brings forth challenges related to biases, transparency, and ethical concerns. This comprehensive article explores the pros and cons of incorporating AI into employment decision-making, highlights relevant laws and regulations for businesses to consider, and provides invaluable tips on mitigating AI-related risks. (more…)
September 20, 2023
Employee BenefitsKapnick News

Kapnick Insurance Expands Reach with Acquisition of Michigan Group Benefits

We are delighted to announce the strategic acquisition of Michigan Group Benefits! This transformative transaction represents a significant milestone in our growth plans, expanding our capabilities and solidifying our position in the group benefits industry. The acquisition will also expand our geographical footprint, as we will retain Michigan Group Benefit’s East Lansing office. (more…)
September 14, 2023
Employee BenefitsLegislative Updates

Pay or Play Affordability Percentage Will Decrease for 2024

HIGHLIGHTS The IRS has announced the affordability percentage that will apply under the ACA's pay or play rules for plan years beginning in 2024. This percentage (8.39%) is a significant decrease to the affordability threshold. ALEs will need to consider this affordability percentage in developing their health plan contribution strategies for the 2024 plan year. ALEs may need to lower the amount employees have to contribute for 2024 to meet the lowered percentage. On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentage in 2024 for determining the affordability of an employer's plan under the…
Employee Benefits

Navigating Open Enrollment like a Pro: A Guide for Employers

As open enrollment season approaches, employees across the country are preparing to make important decisions about their healthcare coverage. Open enrollment is the designated period when employees can make changes to their existing medical coverage, such as changing plans, adding or dropping dependents, and even adding optional benefits. It is a crucial time for both employers and employees to ensure that they have the right coverage and understand their options. (more…)
Employee Benefits

Boosting Employee Wellness with Financial Planning Assistance

In today's business world, successful companies understand that employee wellness is a key driver of productivity. While physical and mental health are often prioritized, there's another crucial aspect that deserves our attention: financial wellness. Offering financial planning assistance can have a profound positive impact on employees. With access to these resources, employees can alleviate financial stress, enhance focus at work, and boost overall productivity. (more…)
FSA letters hanging on rope with colorful clothespinsEmployee Benefits

The Tax Benefits of FSAs

Are you tired of paying exorbitant medical, dental, vision, or hearing bills with after-tax dollars? Look no further than flexible spending accounts (FSAs)! These accounts are a powerful tool that allow individuals to pay for eligible health care and dependent care expenses with pre-tax dollars. Here's how it works: As an employee, you agree to contribute a portion of your pre-tax salary into an FSA. This money is then automatically (more…)
April 20, 2023
Employee Benefits

DEI: Increasing Awareness Of Unconscious Bias

Unconscious bias happens when people form impressions about other people that are either positive or negative based on stereotypes or preconceived notions about things like race, gender, ethnicity, age, disability, or other characteristics. Unconscious biases are usually ones that people aren't aware of; they result from the brain's tendency to group things together to (more…)
Employee Benefits

Mental Health Matters: How Business Leaders Can Help

Mental health is an issue that affects all of us, but for business leaders it can be especially daunting. In a world where success is measured in terms of profit and productivity, it’s easy to lose sight of the importance of mental health for both you and your teams. As a leader, it’s important to recognize the impact of mental health on overall performance and take (more…)
Employee Benefits

Why DIY COBRA Can Be Costly for You as an Employeer

Do-it-yourself (DIY) COBRA administration can be time consuming and expensive due to the legal ramifications of not following the multiplicity of requirements for each COBRA event. Failure to comply can lead to costly penalties and/or claims responsibility for you as an employer. Due to the complexities of the law and potentially serious consequences for mistakes (more…)
Employee Benefits

Diversity vs. Inclusion: What’s the Difference?

When it comes to business, the terms "diversity" and "inclusion" are often used interchangeably. However, there is a big difference between the two concepts – and it's important for leaders to understand the distinction. Defining Diversity And Inclusion Diversity and inclusion are not just buzzwords, but rather an embodiment of how we strive to make everyone feel safe and accepted. (more…)
February 7, 2023
Employee Benefits

Employee Benefits Education: FMLA Guide

Whether you are unable to work because of your own serious health condition, or because you need to care for your parent, spouse, or child with a serious health condition, the Family Medical Leave Act (FMLA) provides unpaid, job-protected leave for qualified employees. Leave may be taken all at once, or may be taken intermittently as the medical condition requires. Kapnick provides this FMLA guide as a simple (more…)
February 2, 2023
Employee Benefits

Employee Benefits Education: Health Insurance Terminology

The health care system in the United States can be confusing. In order to get the most out of your health care benefits, you need to understand the terms used by insurance companies, the government, health plans and health care providers. As part of Kapnick Benefit Services employee benefits education series, we put together this handy list of health insurance terminology. (more…)
January 20, 2023
Employee BenefitsLegislative Updates

Key 2023 Health Plan Compliance Deadlines

Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. If you are concerned about missing key 2023 health compliance deadlines, we created this compliance overview that explains key 2023 compliance deadlines for employer sponsored group health plans. It also outlines group health plan notices employers must provide each year. (more…)
January 19, 2023
Employee Benefits

DEI: The Value of Using Inclusive Language in the Workplace – 6 simple tips

In today's world, the need for businesses to embrace inclusivity is more important than ever. Research indicates that by changing language and implementing self-awareness strategies, employers can make meaningful progress towards a more diverse and equitable workplace. Creating a welcoming environment goes beyond hiring practices and involves using inclusive language in the workplace that's sensitive (more…)
January 17, 2023
Case StudiesEmployee Benefits

HDHP vs. PPO – A Kapnick Case Study

The following is a case study based on real Kapnick clients about an employee trying to choose between a HDHP or a PPO medical insurance plan. THE PROBLEM An employee whose main healthcare expense is prescription costs were given the choice by their employer between a High Deductible Health Plan (HDHP) and a Preferred Provider Organization (PPO). Despite the fact that their (more…)
Employee Benefits

Health and Wellness Improve Workplace Productivity

One of the most important things for employees in the workplace is their health and wellness. A healthy employee is a productive employee as they are able to focus their time and energy on work, not what might have them feeling under the weather. At Kapnick, we have various tools and resources available to help improve and maintain the health and wellness of clients (more…)
Employee BenefitsFrom the Experts

Maneuvering the Return to the Firm, Post-COVID

Over two years since the Covid-19 pandemic started to change the world, it is still affecting everyday lives – especially in the workplace. Many employees do not want to return to the “normal” that was before the COVID pandemic, preferring a hybrid or fully remote schedule. In a recent Mercer study, the flexibility to work from home went from 17th in 2020 to 2nd in 2022 on the list of what (more…)
July 6, 2022
Employee Benefits

Consolidating Complicated Cannabis Employee Benefits

At Kapnick, we understand there are a variety of ways to structure your organization and employee benefits plan, particularly if you have multiple locations and profit centers. Cannabis organizations in particular can have complicated arrangements. Whatever your unique situation, we can help ensure you have the right benefits structure. Read more about how we saved (more…)
Business InsuranceEmployee Benefits

Experts in Michigan and Beyond

Wherever you’re located, you want on-the-ground, local experts to ensure you have the best access, resources, and insider knowledge. At Kapnick, we provide this. While Kapnick is the largest privately-owned insurance brokerage in Michigan, our reach extends far beyond our beautiful Great Lakes’ State’s borders. And if we don’t have direct, personal experience (more…)
Employee Benefits

Expanding Your HR Team Without Hiring

Enrolling, administering, filing, auditing, correcting, answering questions. Managing your employees’ benefits can be challenging, especially during busy seasons like open enrollment, or if you don’t have a fully staffed HR team. Kapnick can help expand your HR team without hiring additional employees. Kapnick's online benefits platform allows our clients to significantly reduce administration costs, eliminate time-consuming paperwork, and enable a (more…)
Employee BenefitsFrom the Experts

Retain and Recruit Employees Without Breaking the Bank

A full year since the start of the “great resignation” employers are still struggling to retain and recruit, and employees continue to walk away from their employers in record numbers. A Prudential survey conducted toward the end of 2021 found that 46% of workers were actively seeking or considering finding a new job, and labor statistics backed those findings. (more…)
Employee BenefitsFrom the Experts

Expert Insight to Keep Your Cannabis Company Growing

At Kapnick, we understand not all industries, businesses, or individuals have the same challenges or concerns. To that end, we have developed Kapnick’s areas of specialization, where our experts dig into the specifics details of your industry’s unique risks. One of those specialized fields of knowledge is the quickly evolving cannabis industry. As experts in employee (more…)
Case StudiesEmployee Benefits

One Firm Solutions – A Kapnick Case Study

The following is a case study based on a real Kapnick client. THE PROBLEM One of our Employee Benefits clients was having issues with their Business Insurance broker. Not only were they not receiving the kind of care and service they were used to with their Kapnick benefits team, but they felt as if they were paying too much premium for too little coverage. (more…)
Personal Insurance

Protecting Your Investments Against the Sudden Threat of Water Damage

In the ever-changing tides of the property market, one constant threat looms large for homeowners and business proprietors alike—a threat that remains largely underestimated: water damage. While the specter of burglary or fire may capture more headlines, the statistics reveal a startling reality: properties are six times more likely to suffer from water damage than from theft and seven times more than from fire. At Kapnick Insurance, we understand the severity of this issue and are committed to empowering our clients with knowledge and solutions to safeguard their investments. (more…)
February 26, 2024
Personal Insurance

Winter Safety Tips for Homeowners in Michigan

Winter in Michigan can be a picturesque wonderland, but it also brings challenges for homeowners. Ensuring the safety and integrity of your home during this harsh season is paramount. This blog post provides a detailed roadmap on winter safety measures that can help protect your home and loved ones.   Preparing Your Home for Winter Before winter's arrival, some preparatory steps are essential for the safety and efficiency of your home.   Inspect Your Home's Exterior for Damage Damage to your home's exterior can exacerbate when exposed to winter conditions. Therefore, a thorough inspection of the roof, siding and foundation…
November 22, 2023
Personal Insurance

Personal Cyber Insurance: Your Shield in the Digital World

In today's digital age, our lives are interwoven with technology. From smart devices and online transactions to social interactions and remote work, we rely heavily on digital platforms. While this brings convenience, it also introduces new risks. Cybercrimes such as fraud, identity theft, data breaches, and cyberbullying have become increasingly prevalent. At Kapnick, we understand these challenges and are committed to ensuring your peace of mind in the digital sphere, including offer home cyber insurance coverage option to our clients. These solutions are designed to provide comprehensive protection against a wide range of cyber threats. (more…)
September 20, 2023
InsurancePersonal InsuranceRisk SolutionsSpecialty Risk

Navigating the Complex World of D&O Policies with Kapnick: A Case Study

Protecting Your Assets with Kapnick's Unique Approach: A Case Study A private client, invited to join a for-profit company board, faced a dilemma. The company's D&O policy didn't offer enough protection, and the client didn't want to risk personal assets. The company couldn't afford to increase their D&O coverage, and the client's personal policy didn't provide enough cover. The stakes were high - private company D&O claims can cost around $700,000 on average. A solution was needed, and quickly. This is where Kapnick shined. The team at Kapnick Risk Services collaborated with private client experts to craft an independent D&O…
Older latinx couple kayakingPersonal Insurance

Financial Risks for Women in Retirement

Retirement is an important and exciting time for many individuals, but it can also be a source of financial risk. Women are particularly at risk due to factors such as longer life expectancies, higher healthcare costs, and widowhood. By understanding the challenges and having a plan in place, women can ensure that their retirement years are secure, comfortable, and rewarding.  ​​ (more…)
Personal Insurance

Don’t Let Storms Catch You Unprepared

Each year, weather-related disasters affect the lives of hundreds of thousands of people. Fires, floods, earthquakes, and man-made disasters are only a few of the many different forms of emergencies. Basic services like electricity, gas, water, sewage treatment, and telephone service could be interrupted for days, even weeks. You might not have immediate access to local responders, or they might need to direct their attention (more…)
Woman Building Brick Path Home Improvements - GettyImages-1351328558_1200x800Personal Insurance

Remodeling? Review your homeowner’s policy!

As a homeowner, you need to protect your investment, especially after a remodel. The following tips will help you ensure you have the coverage you need—eliminating worry and additional hassles. Review Your Homeowner's Policy Limits Make sure that your home has sufficient coverage if you’ve remodeled, made an addition, or purchased an expensive item for your home. (more…)
Personal Insurance

Insuring Your Collectibles

You've spent years collecting your favorite items. So how do you make sure your collection is protected in case of fire, theft, or damage? Collectibles, such as comic books, baseball cards, whiskey, art, and vintage toys, can be precious investments that require special care when it comes to insurance. If you own any collectibles of significant value or sentimental importance, it's essential to have the right coverage in place to protect them. (more…)
Auto ReformPersonal Insurance

The Bare Minimum Could Leave You Bare

We all know that car insurance is important. But sometimes, in an effort to save money, people will buy the bare minimum. Unfortunately, this could end up costing them more in the long run if they're involved in an accident. The following is a excerpt from our article The Bare Minimums Could Leave You Bare on why buying the bare minimum auto insurance is a risky move, and what to focus on instead. What To Do If You Can't Afford Full Coverage Finding a good balance (more…)
February 7, 2023
Insurance UpdatePersonal Insurance

7 Simple Strategies For A Safe and Secure Home Office

During Home Office Safety and Security Week which occurs in the second full week in January each year, individuals are urged to assess the safety of their home work environments. Take time to learn about home office safety and security strategies, then assess your workspace to pinpoint any security vulnerabilities that could jeopardize you or your data. Many of the best practices for home office safety and security are common (more…)
January 20, 2023
Employee BenefitsLegislative Updates

Pay or Play Affordability Percentage Will Decrease for 2024

HIGHLIGHTS The IRS has announced the affordability percentage that will apply under the ACA's pay or play rules for plan years beginning in 2024. This percentage (8.39%) is a significant decrease to the affordability threshold. ALEs will need to consider this affordability percentage in developing their health plan contribution strategies for the 2024 plan year. ALEs may need to lower the amount employees have to contribute for 2024 to meet the lowered percentage. On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentage in 2024 for determining the affordability of an employer's plan under the…
Business InsuranceLegislative UpdatesRisk Solutions

Strengthening Safety and Mitigating Risks: Solutions Amid Michigan’s Overruling of Open and Obvious Defense in Slip and Fall Litigation

In a landmark decision, the Michigan Supreme Court has recently overruled decades of case law regarding the open and obvious defense in slip and fall litigation. This ruling has far-reaching implications for property owners, as it eliminates a commonly used defense strategy. It is crucial for business leaders to understand the implications of this decision and take proactive steps to address the issue. Kapnick can help. (more…)
Employee BenefitsLegislative Updates

Key 2023 Health Plan Compliance Deadlines

Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. If you are concerned about missing key 2023 health compliance deadlines, we created this compliance overview that explains key 2023 compliance deadlines for employer sponsored group health plans. It also outlines group health plan notices employers must provide each year. (more…)
January 19, 2023
Medicare Part D Disclosures Due to CMSLegislative Updates

Legislative Update – PCORI Fees Alert – June 2022

Quick Facts: The Affordable Care Act (ACA) requires health insurance issuers and employers that sponsor self-funded group health plans to pay Patient-Centered Outcomes Research Institute (PCORI) fees. Employers that sponsor fully insured health plans are not required to pay the fee directly, but employers sponsoring self-funded plans must pay the fee annually on IRS Form 720. (more…)
Medicare Part D Disclosures Due to CMSLegislative Updates

Legislative Update – ARPA EB Changes – March 2021

Quick Facts: Congress passed the $1.9 trillion COVID relief bill, the American Rescue Plan Act of 2021 (ARPA), which President Biden is expected to sign tomorrow. The bill includes significant employee benefits related provisions including a federal subsidy that will cover 100% of the cost of COBRA continuation coverage effective April 1, 2021 through September 30, 2021 (more…)
Medicare Part D Disclosures Due to CMSLegislative Updates

Legislative Update – DOL Releases EBSA Disaster Relief Notice 2021-01 – March 2021

Quick Facts:Last week, the Department of Labor (DOL) issued new guidance regarding notice and disclosure timeframe relief for employee benefit plans and plan participants due to COVID-19. EBSA Disaster Relief Notice 2021-01 (The Joint Notice) clarifies that the deadline for extended timeframes, such as a COBRA election, will be based upon the date each (more…)
Medicare Part D Disclosures Due to CMSLegislative Updates

Legislative Update – IRS Extends ACA Reporting Deadline – October 2020

Quick Facts: In Notice 2020-76, the IRS extended the 2021 deadline for employers and insurers to furnish individual statements on 2020 health coverage and full-time employee status (Forms 1095-B and 1095-C) from February 1 (generally due January 31, but this year it is a Sunday) to March 2, 2021. The notice also extends the good-faith penalty relief to 2020 for incorrect or incomplete reports due in 2021. For more information, including a link to Notice 2020-76, click below: (more…)
October 29, 2020
Medicare Part D Disclosures Due to CMSLegislative Updates

Legislative Update: PCORI Fees Due July 31

Quick Facts: The Affordable Care Act (ACA) requires health insurance issuers and employers that sponsor self‐insured health plans to pay Patient‐Centered Outcomes Research Institute fees (PCORI fees). Though the PCORI fee was scheduled to expire for plan years ending on or after October 1, 2019, it was extended to plan years ending on or before September (more…)
Insurance UpdateMarket Forecast

Navigating 2024: Market Forecast and Emerging Trends with Kapnick Insurance

In the ever-changing market landscape, new opportunities and challenges emerge each year, making it crucial for leaders to have the necessary tools to navigate uncharted territories. With this objective in mind, we crafted the 2024 Market Forecast to provide you with valuable insights. This forecast is not a mere report; instead, it serves as a powerful tool in the hands of visionary leaders, enabling you to mold your organization’s future. Click here to access the full report, or read on for a brief overview of the trends we're expecting in 2024. (more…)
Business InsuranceFrom the ExpertsInsurance Update

UNDERSTANDING THE RISING COMMERCIAL INSURANCE RATE ENVIRONMENT

In the evolving economic landscape, commercial insurance rates continue to trend upward. As your trusted partner, our focus is on empowering you to understand the reasons behind these increases and offer strategies to help you take control of your destiny. Together, we can roll up our sleeves and put in the work necessary to improve your risk profile through strategic decisions and implementing effective measures that ultimately make you a more appealing risk to carriers. As always, our commitment is to work alongside you, leveraging our expertise and resources to help you beat the market trends. RATE TRENDS According to…
November 22, 2023
Business InsuranceInsuranceInsurance Update

Unlocking Industry Insights: The 2023 Manufacturing Benchmark Report

Navigating the intricate landscape of the manufacturing industry, especially when it comes to risk management, requires a deep understanding and specialized coverage solutions. Here's where Kapnick Insurance shines. As part of our ongoing commitment to provide industry-specific insights, we're excited to share our 2023 Manufacturing Benchmark Report. (more…)
Business InsuranceInsuranceInsurance Update

Unlock Insights with Our 2023 Construction Benchmark Report

As a business owner, you know that the decisions you make can have significant impacts on your success. That's why we have exciting news to share! Our latest industry-specific benchmark report focuses on the purchasing decisions of insurance buyers in construction, and we've just released our benchmark report for 2023. The construction industry generates $1.3 trillion of economic activity annually and employs almost 8 million people. As we navigate the uncertain economic climate, knowledge is power. In 2021, overall construction spending increased by 7 percent, while residential construction spending decreased this year. Infrastructure spending has seen an uptick-- thanks in…
Insurance UpdatePersonal Insurance

7 Simple Strategies For A Safe and Secure Home Office

During Home Office Safety and Security Week which occurs in the second full week in January each year, individuals are urged to assess the safety of their home work environments. Take time to learn about home office safety and security strategies, then assess your workspace to pinpoint any security vulnerabilities that could jeopardize you or your data. Many of the best practices for home office safety and security are common (more…)
January 20, 2023
From the ExpertsRisk Solutions

Contingent Liability and Tax Insurance: A Powerful Duo in M&A Deals

As a private equity leader, you're no stranger to some of the practical roadblocks that arise in mergers and acquisitions (M&A). These transactions are fraught with potential risks, not least of which are contingent liabilities and tax issues. These two elements, often intertwined, present unique challenges that require specialized risk management strategies. This is where contingent liability and tax insurance come into play. (more…)
November 21, 2023
Business InsuranceLegislative UpdatesRisk Solutions

Strengthening Safety and Mitigating Risks: Solutions Amid Michigan’s Overruling of Open and Obvious Defense in Slip and Fall Litigation

In a landmark decision, the Michigan Supreme Court has recently overruled decades of case law regarding the open and obvious defense in slip and fall litigation. This ruling has far-reaching implications for property owners, as it eliminates a commonly used defense strategy. It is crucial for business leaders to understand the implications of this decision and take proactive steps to address the issue. Kapnick can help. (more…)
Business InsuranceRisk Solutions

Implications of Michigan Supreme Court Overruling Open and Obvious

The recent ruling by the Michigan Supreme Court to eliminate the open and obvious defense in premises liability cases has significant implications for property owners. This ruling removes a common defense used to avoid liability, potentially leading to more cases being filed and higher litigation expenses for property owners. To prevent financial losses in premises liability cases, property owners need to take proactive steps and implement effective safety measures. Here's what you need to do: Conduct regular inspections and maintenance checks on all areas of your property, both inside and outside. Proactively identify potential hazards through regular assessments to address…
InsurancePersonal InsuranceRisk SolutionsSpecialty Risk

Navigating the Complex World of D&O Policies with Kapnick: A Case Study

Protecting Your Assets with Kapnick's Unique Approach: A Case Study A private client, invited to join a for-profit company board, faced a dilemma. The company's D&O policy didn't offer enough protection, and the client didn't want to risk personal assets. The company couldn't afford to increase their D&O coverage, and the client's personal policy didn't provide enough cover. The stakes were high - private company D&O claims can cost around $700,000 on average. A solution was needed, and quickly. This is where Kapnick shined. The team at Kapnick Risk Services collaborated with private client experts to craft an independent D&O…
Risk Solutions

Hurricane Preparation & Recovery Services

Now is the time to review your disaster recovery plans and procedures for hurricanes and other natural disasters. At Kapnick, we have tools to help, including emergency plan worksheets, checklists, and more. Storm's brewing. Be prepared. When disaster hits, many businesses find themselves under-prepared. (more…)
InsurancePersonal InsuranceRisk SolutionsSpecialty Risk

Navigating the Complex World of D&O Policies with Kapnick: A Case Study

Protecting Your Assets with Kapnick's Unique Approach: A Case Study A private client, invited to join a for-profit company board, faced a dilemma. The company's D&O policy didn't offer enough protection, and the client didn't want to risk personal assets. The company couldn't afford to increase their D&O coverage, and the client's personal policy didn't provide enough cover. The stakes were high - private company D&O claims can cost around $700,000 on average. A solution was needed, and quickly. This is where Kapnick shined. The team at Kapnick Risk Services collaborated with private client experts to craft an independent D&O…
Specialty Risk

KSR Summary: PPP Insurance Summary

Background: In connection with the COVID-19 epidemic, the U.S. Congress passed the CARES Act in order to provide financial support and relief to businesses and individual citizens. As part of the CARES Act, the Paycheck Protection Program (‘PPP’) was put in place to provide potentially forgivable loans to small businesses (under 500 employees) who were struggling financially due to the economic uncertainty of the pandemic. The PPP loans were administered by local, regional and national banks and the program is overseen by the Small Business Administration (‘SBA’). The Risk: Applicants for PPP loans needed to demonstrate that the loan request…
Insurance UpdateMarket Forecast

Navigating 2024: Market Forecast and Emerging Trends with Kapnick Insurance

In the ever-changing market landscape, new opportunities and challenges emerge each year, making it crucial for leaders to have the necessary tools to navigate uncharted territories. With this objective in mind, we crafted the 2024 Market Forecast to provide you with valuable insights. This forecast is not a mere report; instead, it serves as a powerful tool in the hands of visionary leaders, enabling you to mold your organization’s future. Click here to access the full report, or read on for a brief overview of the trends we're expecting in 2024. (more…)
Kapnick NewsMarket Forecast

2023 Market Forecast

Market Insights from Kapnick Insurance Over the past couple years, it’s felt like the world is constantly changing and evolving, making it difficult for organizations to keep up. While insurance tends to be steadier than many industries, it’s not without fluctuations. This is where Kapnick comes in – we’re here to help you thrive, not just survive. We have a deep understanding of the industry and what it takes to stay (more…)
February 1, 2023
Kapnick NewsMarket Forecast

2022 Mid-Year Market Update

Market Insights from Kapnick Insurance The business insurance marketplace in 2022 continues to face challenges, though there is good news on the horizon—the rate of increases has slowed across almost all lines and we hope to see rates softening as we move into 2023. The cause of the hard market that businesses continue to face is multi-faceted, including: (more…)
Kapnick NewsMarket Forecast

2022 Market Forecast

Market Insights from Kapnick Insurance The past few years have been challenging for both businesses and the insurance industry. The increased frequency and severity of claims, social inflation, the COVID-19 pandemic, medical inflation, trends in cybercrime, the cost of reinsurance, natural disasters and investment returns have all fundamentally reshaped the insurance market as we know it. (more…)
January 19, 2022
Kapnick NewsMarket Forecast

2021 Mid-Year Market Forecast

The business insurance marketplace in 2021 continues to be hard. Rates are increasing and capacity is decreasing. The cause of the hard market is multi-faceted, but follows a 10-year period of a soft market in which rates decreased and capacity in the marketplace was not an issue. Most believe COVID-19 is still impacting rates, including pricing, (more…)
Kapnick NewsMarket Forecast

2021 Market Forecast

A Letter from Jim Kapnick, CEO I began my introduction to last year’s market forecast with the note that 2019 was a year of both challenges and opportunities. Most would say 2020 was a year of straight challenges. In the US, social upheaval and an election cycle meant uncertainty and stress, while the lingering coronavirus pandemic brought considerable devastation (more…)
Case StudiesEmployee Benefits

HDHP vs. PPO – A Kapnick Case Study

The following is a case study based on real Kapnick clients about an employee trying to choose between a HDHP or a PPO medical insurance plan. THE PROBLEM An employee whose main healthcare expense is prescription costs were given the choice by their employer between a High Deductible Health Plan (HDHP) and a Preferred Provider Organization (PPO). Despite the fact that their (more…)
Case StudiesEmployee Benefits

One Firm Solutions – A Kapnick Case Study

The following is a case study based on a real Kapnick client. THE PROBLEM One of our Employee Benefits clients was having issues with their Business Insurance broker. Not only were they not receiving the kind of care and service they were used to with their Kapnick benefits team, but they felt as if they were paying too much premium for too little coverage. (more…)
Claim Stories

Claim Stories: Fire From Overloaded Outlet

Accidents can happen at home and at work, even while doing mundane tasks, but taking steps to ensure you’re following the proper guidelines and safety measures is the first step toward preventing loss. Here we have one of our claim stories in which a fire from an overloaded outlet caused major building damage. (more…)
Business InsuranceFrom the ExpertsInsurance Update

UNDERSTANDING THE RISING COMMERCIAL INSURANCE RATE ENVIRONMENT

In the evolving economic landscape, commercial insurance rates continue to trend upward. As your trusted partner, our focus is on empowering you to understand the reasons behind these increases and offer strategies to help you take control of your destiny. Together, we can roll up our sleeves and put in the work necessary to improve your risk profile through strategic decisions and implementing effective measures that ultimately make you a more appealing risk to carriers. As always, our commitment is to work alongside you, leveraging our expertise and resources to help you beat the market trends. RATE TRENDS According to…
November 22, 2023
From the ExpertsRisk Solutions

Contingent Liability and Tax Insurance: A Powerful Duo in M&A Deals

As a private equity leader, you're no stranger to some of the practical roadblocks that arise in mergers and acquisitions (M&A). These transactions are fraught with potential risks, not least of which are contingent liabilities and tax issues. These two elements, often intertwined, present unique challenges that require specialized risk management strategies. This is where contingent liability and tax insurance come into play. (more…)
November 21, 2023
Business InsuranceFrom the Experts

Navigating Professional Liability in the Construction Industry

In the evolving landscape of construction, contractors often find themselves providing professional advice, straddling the line between design and construction. This shift has led to an increased exposure to professional liability, necessitating a closer look at Contractor’s Professional Liability Insurance.   General liability insurance covers bodily injury or property damage resulting from negligence, but what about financial damages caused by negligent professional advice? That's where professional liability insurance comes in handy. (more…)
September 12, 2023
Employee BenefitsFrom the Experts

Maneuvering the Return to the Firm, Post-COVID

Over two years since the Covid-19 pandemic started to change the world, it is still affecting everyday lives – especially in the workplace. Many employees do not want to return to the “normal” that was before the COVID pandemic, preferring a hybrid or fully remote schedule. In a recent Mercer study, the flexibility to work from home went from 17th in 2020 to 2nd in 2022 on the list of what (more…)
July 6, 2022
Employee BenefitsFrom the Experts

Retain and Recruit Employees Without Breaking the Bank

A full year since the start of the “great resignation” employers are still struggling to retain and recruit, and employees continue to walk away from their employers in record numbers. A Prudential survey conducted toward the end of 2021 found that 46% of workers were actively seeking or considering finding a new job, and labor statistics backed those findings. (more…)
Employee BenefitsFrom the Experts

Expert Insight to Keep Your Cannabis Company Growing

At Kapnick, we understand not all industries, businesses, or individuals have the same challenges or concerns. To that end, we have developed Kapnick’s areas of specialization, where our experts dig into the specifics details of your industry’s unique risks. One of those specialized fields of knowledge is the quickly evolving cannabis industry. As experts in employee (more…)
Business InsuranceFrom the Experts

The Underwriting Process for Cannabis Risks

The underwriting process for cannabis risks is unique to the cannabis industry. Unlike many other industries, underwriting moves quickly. At Kapnick, we pride ourselves on being flexible yet aggressive. In many cases, carriers will quote based on applications as opposed to accord forms, so having a marketing and service team with strong connections to (more…)
December 8, 2021
Business InsuranceFrom the Experts

What exactly is a surety bond for cannabis, anyhow?

A cannabis surety bond can range from $5,000 to $5,000,000 and provides a financial guarantee to a state or municipality that a company will perform according to the laws and regulations governing your license. A surety bond does this in two ways: 1. By requiring companies to be bonded, additional scrutiny of company and leadership’s finances and credit ensures (more…)
November 29, 2021