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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

Ask the Expert Q&A: Transportation Insurance

Ask the Expert Q&A: Transportation Insurance

A shortage of qualified, experienced drivers is contributing to increased risks in the transportation industry. To learn more about the state of the industry and its implications for Transportation Insurance, we spoke with John Woods, Vice President, National Practice Group Leader, Transportation, Burns & Wilcox, Scottsdale, Arizona. How does the shortage of drivers impact transportation risks? The continuing shortage of…

Hurricane-Force Winds Flip 45 Semi-Trucks in 20 Minutes

Hurricane-Force Winds Flip 45 Semi-Trucks in 20 Minutes

In a span of just 20 minutes on September 8, wind gusts of nearly 100 miles per hour flipped 45 semi-trucks on some Northern Utah highways. Four drivers were hospitalized with injuries and one semi-truck driver suffered a fatal head injury when the wind blew open his cargo door during a delivery and knocked him to the ground. Authorities said…

Market Overview: Transportation Insurance

Market Overview: Transportation Insurance

By: John McGlynn, Director of Transportation, Burns & Wilcox Canada Canada and the United States have the largest two-way trade relationship in the world. According to Statistics Canada, nearly 2.4 million commercial vehicles traveled between Canada and the U.S. in December 2019 alone, highlighting the cause and effect nature of the commercial trucking relationship between the two countries. Unfortunately, in…

Rolling With These Challenging Times

Rolling With These Challenging Times

Presented by: John Woods, Vice President, National Practice Group Leader, Transportation, Burns & Wilcox This webinar discusses: Industry conditions over the last decade that led to a restrictive market and narrowing underwriting criteria, and the overall impact on pricing Impact of the pandemic on the transportation industry Long-term outlook for navigating beyond the current crisis [embed]https://vimeo.com/416492869/3677dccea0[/embed]  

Overturned Tanker Truck Spills 5,000 Gallons of Hazardous Material, Prompts Evacuation

Overturned Tanker Truck Spills 5,000 Gallons of Hazardous Material, Prompts Evacuation

Several homes were evacuated on February 3 after a semi-truck tanker overturned near Williamsburg, Kentucky and leaked 5,000 gallons of highly flammable butyl acrylate onto the railroad tracks below. Several agencies responded to the incident, including a hazmat crew to clean up the strong-smelling irritant. While officials reported the risks of the chemical spill spreading beyond the site were low,…

Highway a Sweet Mess after 40,000 Pounds of Liquid Chocolate Spills from Tanker

Highway a Sweet Mess after 40,000 Pounds of Liquid Chocolate Spills from Tanker

Though the resulting aroma was sweet, the rollover accident that caused a tanker truck to spill 40,000 pounds of hot, liquid chocolate on an Arizona freeway was anything but. There were no injuries or other vehicles involved in the accident, but the insurance impact is likely significant. The accident appeared to have been caused by a structural failure as a…

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