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Property & Casualty Report: Q2 2022 Market Overview & Q3 Forecast

Property & Casualty Report: Q2 2022 Market Overview & Q3 Forecast

Macroeconomic trends, namely inflation and rising interest rates, are having a profound effect on the Property & Casualty (P&C) market as we head into the second half of 2022. Inflation impacts everything—from rapidly changing property values to challenges with mid-year reinsurance renewals. These are truly generational inflationary pressures that most professionals within the industry have never personally experienced. Even with…

Trending Intel: June 2022

Trending Intel: June 2022

Below we highlight the top 5 trending intel topics in June 2022. 1. Flood Insurance Flood Modeling & Insurance Perspectives The U.S. Flood insurance market is being completely revamped with the launch of the National Flood Insurance Program’s (NFIP) risk rating 2.0, which applies risk modeling technology to evaluate exposure. Simultaneously the…

Hot Dog Filler, ‘Mysterious’ Red Liquid Spill Onto Highway in Recent Trucking Accidents

Hot Dog Filler, ‘Mysterious’ Red Liquid Spill Onto Highway in Recent Trucking Accidents

About 15,000 pounds of hot dog filler spilled onto the highway near Pittsburgh, Pennsylvania, May 20 when the driver of a semitractor-trailer lost control of the vehicle and crashed onto the shoulder. The tractor-trailer hit several trees and overturned, leaving the driver and a passenger with minor injuries and a portion of Interstate 70 covered in the pink slime. According…

Property & Casualty Report: Q4 2021 Market Overview & Q1 2022 Forecast

Property & Casualty Report: Q4 2021 Market Overview & Q1 2022 Forecast

The last two years have been among the most uncertain the world has ever experienced by any standard. The Excess and Surplus (E&S) Lines insurance marketplace has stepped up to meet the challenge experiencing strong growth and perseverance in the face of a global pandemic, extraordinary natural catastrophes, increasing cyber-attacks, excessive jury verdicts, supply chain disruptions, political unrest, labor shortages…

Rising Risks: Amazon Responds to Supply Chain Problems and Shipping Deadlines

Rising Risks: Amazon Responds to Supply Chain Problems and Shipping Deadlines

The supply chain crisis is overwhelming companies on a global scale, causing industry giants like Amazon to turn to high-risk delivery methods like chartered ships and long-haul planes. And while that gives companies more control over the path of their own deliveries, it also opens them up to new forms of liability in the already volatile transportation industry. A recent…

Property & Casualty 2021 Q3 Market Overview & Q4 Forecast

Property & Casualty 2021 Q3 Market Overview & Q4 Forecast

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group We are pleased to share our third quarter Property & Casualty Market Overview and Forecast, prepared immediately following industry conferences and meetings that are clear bellwethers of what to anticipate. September, as we know, is Reinsurance Month which sets the stage for pivotal year-end negotiations of January 1…

Officials Investigate Tour Bus Crash That Hospitalized 50-Plus Passengers

Officials Investigate Tour Bus Crash That Hospitalized 50-Plus Passengers

Officials are continuing to investigate an Aug. 14 tour bus accident that sent dozens of passengers to the hospital. The bus was headed from Poughkeepsie to Niagara Falls and was carrying 57 adults and children when it ran off the highway and rolled over near Weedsport, New York, landing on its side. A total of 24 ambulances responded to the…

Transportation Insurance Market Overview

Transportation Insurance Market Overview

The Transportation Insurance industry remains entrenched in a decade-long hard market in the commercial auto segment while carriers remain as diligent as ever in their risk selection procedures. The segment experienced $4 billion in losses in 2019, and while that expectation is that losses were lower in 2020 because of the pandemic, it hasn’t slowed the long-term trend. Simultaneously, rates…

Property & Casualty 2021 Q2 Market Overview & Q3 Forecast

Property & Casualty 2021 Q2 Market Overview & Q3 Forecast

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group As the world begins to emerge from the COVID-19 pandemic, it is abundantly clear, the “new normal” will reshape all of our organizations. One of our many goals is to keep you updated on the rapidly evolving insurance marketplace where adjustments have arguably never been more fluid.…

Trucking Industry Imperiled by Spike in ‘Nuclear Verdicts’

Trucking Industry Imperiled by Spike in ‘Nuclear Verdicts’

Jury awards that exceed $10 million, also known as “nuclear verdicts,” are on the rise in the trucking industry and could make it more difficult for transportation companies to stay in business, CNBC recently reported. According to a 2020 report from the American Transportation Research Institute, the average U.S. trucking industry lawsuit verdict increased 967% between 2010 to 2018, soaring…

Property & Casualty 2021 Q1 Market Overview & Q2 Forecast

Property & Casualty 2021 Q1 Market Overview & Q2 Forecast

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group Following the release of our Burns & Wilcox Property & Casualty Market Overview and Forecast: Eye on 2021 report last quarter the already challenged Commercial and Personal insurance marketplace was greeted with yet another extraordinary event—Winter Storm Uri (February 13-17). The widespread impact resulted in over 170…

Driving through the Transportation Market: Challenges and Conditions

Driving through the Transportation Market: Challenges and Conditions

Watch as our experts as they explore the challenges within the Transportation market and what’s driving current market conditions. During this webinar, we discuss: The pandemic’s impact and how the industry is recovering The use of data and technology solutions Changing risk appetites https://vimeo.com/540672001/1c3eb82e39

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