August 21, 2017
Main Streets are Mean Streets, and Malls are Meandering with Lower Market Share These Days.
Professional commercial realtors see expeditious planning and execution as key to avoiding blight and preserving property values.
A June report from Credit Suisse estimates that between 20% and 25% of the nation’s shopping malls will close in the next five years as shoppers’ habits continue to shift from in-store to online buying. Traditional mall anchors such as Macy’s, J.C. Penney, and Sears have announced widespread store closings in recent months, and a number of niche clothiers like American Apparel and BCBG Max Azria have filed for bankruptcy. The report estimates that around 8,640 stores will close by the end of the year. These problems will be particularly acute in retail-intensive areas like shopping streets and malls, the report states.
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In This Issue...
Main Streets are Mean Streets, and Malls are Meandering with Lower Market Share These Days. Professional commercial realtors see expeditious planning and execution as key to avoiding blight and preserving property values. A June report from Credit Suisse estimates that between 20% and 25% of the nation’s shopping malls will close in the next five […]
While I really dislike overly self-referential articles and TV guests and hosts—like Geraldo Rivera on FOX and Joe Scarborough on MSNBC—I will start this column on a personal note: I drive one of the few—maybe the only—Porsche Cayennes in the USA with a manual transmission, or what was called a “stick” back when I learned […]
Protective Safeguard Endorsement: Who’s it Protecting; NY Court Holds Crime Policy Covers Spoofing Loss of Funds; Short Takes: Loss Control for Brokers & Agents; Class Action Data Breach Lawsuits; $795 an Hour
By Jerry Trupin, CPCU A good crop of interesting cases this month. Which is great, because I’ve retired as of 7/1/17. I hope to continue following insurance and may contribute articles to the Insurance Advocate from time to time, but this will be my last regular column. I started in the insurance business by […]
Employee benefits are an integral component of any size business, from the mom and pop dry cleaner to the multinational corporation. Employers are not always required to offer benefits to their employees. Those that do, however, are subject to federal regulations. The Employee Retirement Income Security Act of 1974, more commonly known as ERISA, sets […]
The insurance industry has gone crazy! What was once a conservative, well organized method for protecting people, their belongings and their business has exploded. A marketplace full of direct to consumer coverage, peer to peer insurance, marketing based on buying preference and 24/7 customer service using chatbots is reality. Technological support for the insurance process […]
By Finley T. Harckham Every day, class actions are commenced on behalf of consumers against manufacturers, retailers, financial institutions, and service providers. Some companies assume that such cases are not covered by their insurance because class actions must be crafted to address issues common to all of the plaintiffs, and therefore tend not to seek […]
ALBANY, N.Y.—The New York Insurance Scholarship Foundation, Inc. (NYISF) awarded its 2017–2018 scholarship to Jean Emile Leconte II, a senior at St. John’s University studying risk management and insurance from Queens, N.Y. “The New York Insurance Scholarship Foundation is pleased to recognize a student as accomplished as Jean,” Ellen Melchionni, president of NYISF said. “His […]
Trenton, N.J.—The Professional Insurance Agents of New Jersey has announced that Samantha Lanzano, daughter of Rebecca Lanzano, client account manager at Kape Insurance Agency in South Plainfield, N.J., has been named the first annual PIANJ John Laux Memorial Scholarship winner. The $5,000 award is bestowed to the child or grandchild of a PIANJ member agency […]
Following our July focus on WC issues, here we have an alternate viewpoint on opioid use: current insurance models continue to push for opioid and NSAID drug treatment for pain management, despite the spreading opioid abuse epidemic. Successful alternative medicine clinic owner JinLi Wang points to treatments for chronic pain including chiropractic spinal manipulative therapy, […]
By Stephen M. Soble Note: This is the first in a series of regular columns on topical issues relating to cybersecurity for the insurance industry, from Stephen M. Soble, a cybersecurity thought leader. His article, “Cyber Risk Beyond Compliance” was the cover story of our June 15 issue, and it has received wide acclaim. We […]