Intel

As medical spas continue to grow in the U.S. and Canada, one type of service appears to be in high demand: weight loss treatments. With well-known drugs like Ozempic and Wegovy in short supply in many areas, some medspas have been filling the gap by offering semaglutide injections to their customers. Recent reports highlight medspas in Iowa, Missouri and other…

Across industries, companies face the risk of professional errors leading to serious losses and costly lawsuits. To learn more about the types of Professional Liability Insurance available to address these risks, we spoke with Andy Wood, Vice President, Professional Liability, Burns & Wilcox, Chicago, Illinois. What are some of the greatest risks today when it comes to Professional Liability? A.W.:…

The term “equilibrium” is increasingly being used within insurance circles to describe certain sectors moving toward a state of balance in terms of rates versus supply, terms and conditions. It suggests a growing opinion among industry leaders that Property and Casualty (P&C) is largely in a healthy place. This is true even after a decade-long period characterized by costly CAT…

A woman who was assaulted in her apartment after a stranger broke in through the unit\'s back sliding door is suing the housing complex for over $1 million, claiming the attack could have been prevented if the broken back door lock had been fixed when she and her roommate first reported it. The Austin, Texas, woman filed the lawsuit against…

Following several years of double-digit rate increases and restrictive adjustments to Terms and Conditions (T&C), the Property Insurance sector has reached a point of relative stability. Rates are largely modest as insurers secure the required premium, now applying rates against a proper exposure basis—Insurance to Value (ITV). With few exceptions of traditional CAT-prone perils in specific geographies, most carriers are…

The practice of telemedicine—healing at a distance—dates back over a century and has come a long way since. In 2023, the telehealth industry market value was estimated at $194 billion and is projected to rise to nearly $870 billion by 2030, according to the February 2021 Telehealth Market Research Report by Market Research Future. It comes as no surprise that…

When an error is made by a real estate agent, accountant, consultant or other professional, the financial loss incurred by their client can be substantial. To learn how Errors & Omissions (E&O) Insurance can help protect professionals, we spoke with Erica​​​​ Rangel, Manager, Professional Liability, Burns & Wilcox, Chicago, Illinois. What are some of the greatest risks today as it…

The engineer allegedly responsible for a partial building collapse in the Bronx in December has had their license suspended for two years by the city of New York and faces a $10,000 fine, according to reports. No one was injured but dozens of families lost their homes after the collapse of the seven-story apartment building, part of which was under…

Experts are sounding the alarm over the risk of infections and other negative outcomes that patients could face after receiving treatments at medical spas, or med spas, which have boomed in popularity in recent years. According to a recent NBC News report, physicians are seeing more adverse reactions linked to the facilities and there are growing concerns over the clinics…

Many of the primary factors that influenced the status of the Property & Casualty (P&C) market in 2023 are likely to remain in 2024. We continue to operate in a comparatively hard environment marked by rising but moderating rates on some lines of business, where it is often necessary to layer available capacity that includes carefully worded terms and conditions…

Increasing demand for aging services and a boom in medispas are among the changes currently happening in the ever-evolving healthcare industry. To learn more about industry risks and Healthcare Insurance solutions, we spoke with Lily Chetosky, Broker, Professional Liability, Burns & Wilcox, Chicago, Illinois. What are some of the greatest risks in healthcare today? L.C.: There are a lot of…