Risk & Business Magazine JGS Insurance Magazine Fall 2019 - Page 3

Welcome! LETTER FROM THE PRESIDENT W elcome to the fall issue of JGS Insurance’s Risk and Business Magazine. It’s hard to believe that summer came and went in the blink of an eye! At least this year we seemed to have had less rain on weekends and hopefully you were able to get out and enjoy the outdoors. Last month in the August 5th issue of Insurance Journal, the National Property Casualty Magazine, JGS was once again recognized as a Top 100 Independent Property/Casualty Insurance Agency in the Country! This is our third year in a row to be recognized as a Top 100 (No.86). A heartfelt thank you to all of our team members as well as our incredibly loyal customer base. We continue to be focused on organic growth with our consultative approach to risk management with our customers. We’ve had a number of meetings with our Insurance Carrier Partners recently and we are beginning to see a slight increase in rates in certain market segments. Property rates are starting to see increases of approximately 5% on standard risks, with up to 10% increases on coastal properties. Commercial Automobile is seeing the largest increases so far of 10-15%. This segment continues to perform poorly from a loss experience in addition to increased costs of repairs to more technology present in vehicles. A dented bumper used to cost a few hundred dollars to replace, now the costs can be in excess of $4,000 due to cameras and sensors built into them. Specialized Insurance. Unmatched Expertise. Next month JGS will be celebrating our 100 year anniversary! We have come a long way since Izzy Jacobson and Morris Goldfarb got together and started what is now JGS Insurance. We have recently welcomed our 100th team member, have offices in Holmdel and Florida, and employees in Connecticut, Pennsylvania, Maryland, and North Carolina! We partner with our clients to understand their unique needs. With over 100 years of experience in workers’ compensation and risk management, we do everything with a singular focus: bringing tangible value to your business. We look forward to continued change, expansion and dedication to serving our clientele. Thanks for your contribution in our success! + pmacompanies.com Vinnie Hager, President JGS Insurance est. 1919 JGSINSURANCE.COM 3