Intel

A man in Twin Falls, Idaho, suffered debilitating injuries from a terrible accident earlier this year after jumping and attempting tricks on a trampoline with his son at a friend\'s backyard barbecue, KMVT reported in November. “The incident is a heartbreaking story,” said Jeremy Bright, Underwriter, Personal Insurance, Burns & Wilcox, Atlanta, Georgia. “In the insurance…

The volatility of storm losses year after year has resulted in many homeowners struggling to find coverage for their property risks—particularly CAT risks. Today’s standard Homeowners’ Insurance policy does not cover every potential peril, which can leave personal property exposed to risks like wildfires, earthquakes, and floods. The Excess and Surplus (E&S) market, with its flexibility and tailored solutions, remains…

The Residential Property market has experienced severe volatility over the past several years, including pronounced rate increases and capacity limitations in California and other western states impacted by wildfires. As weather-related catastrophic (CAT) events and wildfires have become more frequent, many insurance carriers have adjusted their risk appetite. An increase in claims activity has forced carriers to limit capacity, resulting…

A pair of ruby slippers worn by Judy Garland in The Wizard of Oz recently became the most valuable movie memorabilia ever sold at auction, fetching $32.5 million in the Heritage Auctions sale that closed Dec. 7. The iconic shoes were sold alongside the hat worn by the Wicked Witch in the 1939 film; the hat sold for $2.9 million,…

In the recent Burns & Wilcox Residential Property webinar, special guest Virginia Mathurin, Director, Property Underwriting, Personal Lines, Markel Specialty, explored the nationwide growth of E&S insurance, driven by admitted carriers retreating from risks due to inflation, rising reconstruction costs, and increased weather events. https://vimeo.com/1036876499/e653e69341?share=copy

Albert Reed, Manager, Personal Insurance, Senior Underwriter, Personal Insurance, San Francisco, CA, shared insights in the Burns & Wilcox Residential Property webinar about the significant growth in E&S and the role of DIC policies in addressing coverage limitations from admitted carriers in California. https://vimeo.com/1036899006/a8463b5d5c?share=copy

During the recent Burns & Wilcox Residential Property webinar, Heather Posner, Vice President, National Product Leader, Private Client, Burns & Wilcox, Cleveland, OH, highlighted the growing need for solutions like flood, earthquake, and deductible buybacks to address gaps in protection. https://vimeo.com/1036886620/925a4bdd7e?share=copy  

The E&S market is transforming, and Residential Property risks are finding a new home in the non-admitted space. Watch the recording of “The E&S Evolution: Solutions for Residential Properties” to gain expert insights into the trends reshaping the industry. Learn strategies to: Secure tailored solutions Navigate challenges Elevate your client service Panelists: Heather Posner, Vice President, National Product Leader, Private…

The insurance market faces a dynamic future, with a steady shift toward non-admitted markets, unpredictable CAT events and Liability concerns poised to reshape the landscape. Click below for quick insights into Personal, Commercial and Professional Insurance.

The owner of an Airbnb in Ithaca, New York, is suing Cornell University and the vacation rental platform in a lawsuit that claims a group of international students who rented her home caused $200,000 in severe and \"bizarre\" damages during their eight-day stay. In the lawsuit, the owner alleges that the exchange students — reportedly “hand-picked” for a summer program…

Last quarter, we indicated the Property & Casualty (P&C) market had reached a relative level of equilibrium not seen in several years. We defined this as an environment where rates and capacity were relatively stable, and carriers could be profitable. The gradual and consistent shift in business from the admitted to the Excess & Surplus (E&S) market is a transformation…