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.

A Florida homeowner is blaming their homeowners association (HOA) for hurricane damage, claiming that a dry retention pond located behind the home worsened flooding during the storm, creating a “lake” in the homeowner’s backyard. The owner claims the pond was overgrown and poorly maintained and inquired about whether the HOA could be held liable for the storm damage, The Cool…

Companies today face a multitude of workplace-related liabilities. Employment practices, financial decisions and even cybersecurity threats can expose them to potential risks. To learn more about Management Liability and the types of policies available to protect against these threats, we spoke with David Andreas, Senior Broker, Professional Liability, Burns & Wilcox, San Francisco, California. What are the greatest risks in…

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 Indianapolis Public Transportation Corporation recently filed a lawsuit against Dallas-based architectural firm AECOM over construction plans that it claims were \"inadequate, inaccurate and defective.\" According to Fox59 News, the lawsuit alleges the architect responsible for the Julia M. Carson Transit Center in downtown Indianapolis did not properly account for the project’s archaeological work, only setting aside five days for…

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…

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 global Microsoft outage that grounded flights, canceled nonessential surgeries and halted operations for countless businesses could exceed $1 billion in insured losses, according to reports. The technology outage, which began July 19 after a faulty software update by CrowdStrike shut down 8.5 million Windows computers around the world, left many large and small companies unable to function — and…

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…

The former chief financial officer of the Detroit Riverfront Conservancy is being accused of embezzling $40 million from the nonprofit organization over a period of more than 11 years. William Smith was recently charged with bank and wire fraud after allegedly stealing millions of dollars and spending it on airline tickets, hotels, luxury goods, real estate and more. He has…