Intel

KEY TAKEAWAYS: The January wildfires in southern California affected areas not typically prone to such risks, making the situation particularly alarming for insurers and residents alike. Despite challenges, the Excess & Surplus (E&S) market is expected to continue growing, although at a slower pace when compared to recent years. As we move into 2025, small businesses may see modest…

A Florida homeowner is suing real estate brokerage eXp Realty and several of its executives, alleging the company allowed an agent to act as contractors on properties they represent, violating company policy. Filed in federal court in Miami, the lawsuit accuses eXp of fraud, conspiracy, and negligence, claiming over $700,000 in damages. According to HousingWire, eXp has called the claims…

Amid a soft but stable market, Andy Wood, Vice President, National Professional Liability Practice Leader, Burns & Wilcox, Chicago, IL, shares insights from the Eye on 2025 P&C Webinar on balancing growth, underwriting discipline, and why price isn’t the only factor in Professional Liability insurance. https://vimeo.com/1047143462/e6da62e385?share=copy For additional E&S intel, watch the full webinar recording here.

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.

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…

Building a book of business in the Cyber Insurance sector takes time. Still, demand and capacity give brokers and agents opportunities to become subject matter experts and trusted advisors for their clients. Discover top tips on how to be successful in the Cyber Insurance market below.

As cyberattacks continue to cause significant financial losses for businesses of all sizes, Cyber & Privacy Liability Insurance is increasingly vital. To learn more, we spoke with Kenneth​​​​ Labelle, Senior Broker, Professional Liability, Burns & Wilcox Brokerage, Chicago, Illinois. What are some of the greatest cybersecurity risks faced by companies today? K.L.: Extortion events have been the most devastating events…

A hospital in Pennsylvania recently agreed to pay $65 million to settle a class-action lawsuit over a 2023 cyberattack that exposed the personal data of approximately 135,000 individuals, including sensitive photos of more than 600 patients. Patients and employees affected will receive between $50 to $70,000 each; patients whose photos were leaked online will receive the larger amounts, Insurance Journal…

While demand for Cyber Insurance continues to grow, the current soft market is expected to continue into at least 2025. With new entrants on the carrier side and consistent but manageable demand from the market, downward pressure on rates remains. This market softness has evolved over the last two years after an initial increase in cyber events during COVID-19 and…

AI is expediting the evolution of social engineering, making cybercriminals more challenging to detect. Michael Drummond explains other ways AI is accelerating Cyber risks. https://vimeo.com/1001680204/611e34d2fc?share=copy

Cyber Insurance claims handling is constantly evolving – but as Kenneth Labelle, Senior Broker, Professional Liability, Burns & Wilcox Brokerage, Chicago, IL, explains, the \"human element\" makes a big difference. https://vimeo.com/1002081522/f96b609c7f?share=copy

Pre- and post-mitigation risk management is a key differentiator for Cyber Insurance markets. Learn more and get additional insights into enhanced coverage offerings from Derek Kilmer, Associate Managing Director, Broker, Professional Liability, Burns & Wilcox, Detroit/Farmington Hills, MI. https://vimeo.com/1002078816/bd7c725091?share=copy