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Hailstorm Risks Intensify, Driving Homeowners Insurance Shifts
Inside This Article: Hailstorms are a growing threat in the U.S. and Canada, causing more frequent and severe losses for homeowners. One record-breaking hailstorm in Calgary generated 130,000 claims and nearly $2.8 billion in losses. Property damage caused by hail can be covered by Homeowners Insurance, but separate wind and hail deductibles typically apply. Percentage-based deductibles and roof settlement
Cosmetic Treatment Gone Wrong: The Rising Risks in Medspas
Inside This Article: A woman reportedly suffered multiple infections after receiving injections of a filler at a medical spa in Philadelphia. More medical spas in the U.S. and Canada are offering increasingly complex procedures, potentially heightening the risk of a malpractice claim. When a medspa is sued, the facility’s Professional Liability Insurance can cover legal defense and indemnity payments.
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Inside This Article: Heavy rains were likely to blame for a third-floor balcony collapse in Los Angeles involving four individuals and a dog. Balcony collapses are rare but can also happen when structural integrity is compromised due to age, poor construction or overloading. Such incidents at housing complexes can cause catastrophic injuries, potentially leading to lawsuits and significant repair…
INSIDE THIS ARTICLE: A $125,000 Bobcat skid steer was stolen from a plumbing and general construction business in Detroit leaving a “heartbreaking” loss for the small business. Construction thefts are on the rise and may be more likely to occur when equipment is left unattended at jobsites overnight. Insurance policies that can help construction companies recover from theft include…
INSIDE THIS ARTICLE: A couple sued a restaurant chain in Texas, claiming injury and mental anguish after a glass window shattered into their booth. Failure to properly maintain the 50-plus-year-old windows factored into $4 million in damages awarded by jury. Increasing litigiousness highlights risks of inadequate Commercial General Liability (CGL) Insurance for businesses. Ramifications of such suits can include…
Inside This Article: A rare cold snap in Florida caused extensive plumbing damage, with many homeowners facing costly repairs due to frozen pipes and burst water lines. Each year, around 250,000 homes in the U.S. experience damage from frozen pipes, and a single burst pipe can lead to over $5,000 in repair costs. Due to Florida’s challenging insurance market,…
Inside This Article: Cargo theft surged 27% between 2023 and 2024—which regions were hit hardest. The high-value and everyday goods criminals are targeting in record numbers. The rise of strategic cargo theft—how criminals use fake identities and deception to steal entire shipments. Why Motor Truck Cargo Insurance is more critical than ever for shippers and carriers. Smarter security strategies…
An assisted living facility in Shrewsbury, Massachusetts, is facing a lawsuit from the estate of a resident over concerns about the quality of care she received before her tragic passing. The wrongful death lawsuit, filed on January 3, alleges that the woman fell in her bedroom at The Residence at Orchard Grove and was left on the floor for at…
Other Recent Intel
Discover key insights into California\'s challenging Homeowners Insurance market. In this clip from the Burns & Wilcox Residential Property Webinar, Ian Hanson, Associate Vice President, Underwriting Director, Personal Insurance, Burns & Wilcox, San Francisco, CA, breaks down market shifts, wildfire impacts, and how brokers can navigate the growing need for E&S solutions. Watch now > https://vimeo.com/1069249409/5487ba7d09?ts=0&share=copy What more Residential Property…
Convective storms are causing major shifts in the homeowners insurance market. In this clip from the Burns & Wilcox Residential Property Webinar, Kate Wright, Associate Vice President, Senior Regional Practice Group Leader, Personal Insurance, Burns & Wilcox, Indianapolis, IN, discusses the increasing impact of severe weather, rising insurance costs, and the movement toward E&S solutions for hard-to-place risks. Watch now…
The more details shared, the better the solution. In this clip from the Burns & Wilcox Residential Property Webinar, Berri Willis, Associate Vice President, Managing Director, Burns & Wilcox, Morehead City, NC, explains how providing key client information—such as price sensitivity and priorities—enables brokers to secure the most competitive coverage for hard-to-place homes. Watch now > https://vimeo.com/1069244579/9f93056f09?ts=0&share=copy Want more insights…
The recent wildfires and extreme weather trends are reshaping the Residential Property risk landscape, making it challenging to secure coverage. Understanding today’s evolving market is key to providing the best solutions for your clients. Watch our expert-led webinar, E&S Solutions for Residential Property Risks, now available on demand. Gain valuable insights on: Strategies for securing coverage in high-risk areas How…
Key Takeaways: The U.S. Hospitality Insurance market remains hard, with Liquor Liability coverage tightening across most states. Social media marketing can significantly impact a business\'s insurability. Liquor sales exceeding 50% of revenue make coverage harder to obtain, reinforcing the need for diversified income streams. Liquor Liability insurance is not a one-size-fits-all policy and must be customized to each business\'s…
The E&S market continues to expand, approaching $111 billion in premiums, with changing rates, evolving capacity, and new opportunities for brokers. See below to explore key trends for 2025, including CAT pricing adjustments and strategies for the London market.
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