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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…

Back-to-back Alligator Attacks at Florida Establishments Cause Alarm

Back-to-back Alligator Attacks at Florida Establishments Cause Alarm

An 80-year-old Florida woman tragically died July 15 after falling into a pond and being “grabbed” by two alligators, according to reports. The incident occurred at the Boca Royale Golf and Country Club in Englewood, Florida, where the woman reportedly fell into a pond located along the course and struggled to stay afloat before the alligators attacked. [lgc_column grid=\"50\" tablet_grid=\"50\"…

Trending Intel: July 2022

Trending Intel: July 2022

Below we highlight the top 5 trending intel topics in July 2022.   1. Property & Casualty Overview & Outlook Commercial Property, Cyber Liability and Coastal Properties Watch as our experts discuss the Property & Casualty market as we begin the third quarter of 2022. This panel discussion included insights into…

P&C Market Outlook: Q3 2022

P&C Market Outlook: Q3 2022

In this webinar, our panel of experts provide insights into the following areas: Commercial Property, Cyber Liability, and Coastal Properties. Featuring: Anella Niewenhous, AVP, Regional Practice Group Leader, Personal Insurance, Burns & Wilcox, Morehead City, NC Ryan Ascenzo, Senior Broker, Professional Liability, Burns & Wilcox Brokerage, New York, NY Jody Oster, Senior Broker, Property, Burns & Wilcox Brokerage, Chicago, IL…

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…

Self-Serve and Swim-Up Pool Bars Make a Splash this Summer

Self-Serve and Swim-Up Pool Bars Make a Splash this Summer

Hotels, resorts and water parks in Michigan could soon be serving guests at “swim-up” pool bars thanks to new bills recently signed into law by Governor Gretchen Whitmer. The legislation, approved June 14, applies to establishments that already have a liquor license and requires them to have lifeguards on duty and adhere to specific guidelines on drink containers, building materials,…

Multiple Accidents Bring Boston Construction Projects to a Halt

Multiple Accidents Bring Boston Construction Projects to a Halt

Two separate construction accidents in Boston recently caused a stoppage on projects by the region’s largest construction company. According to reports, Suffolk Construction halted work at multiple job sites on May 6 in order to “reinforce safety awareness” after multiple workers were hurt when a former power plant under construction collapsed May 4, followed by an accident at another job…

State of the Construction Insurance Market

State of the Construction Insurance Market

During this webinar, Burns & Wilcox Brokerage experts met for a discussion on the state of the construction market, including commentary on primary, excess and NY construction markets. We also discussed current challenges and available specialty solutions, as well as what is needed for a quality submission. https://vimeo.com/714499485/39061997cf

Cannabis Lounges Bring New Risks to Fast-Moving Industry

Cannabis Lounges Bring New Risks to Fast-Moving Industry

In a growing number of communities around the U.S., new cannabis lounges are offering a social setting where guests can openly use marijuana products. Colorado and New Mexico both saw their first cannabis lounges open in April, Michigan’s first marijuana lounge is set to open this summer, and officials in Nevada are currently discussing how the recently-approved class of businesses…

Property & Casualty Report: Q1 2022 Market Overview & Q2 Forecast

Property & Casualty Report: Q1 2022 Market Overview & Q2 Forecast

As we enter the long-awaited season of Spring which conjures up thoughts of new beginnings, I draw parallels to the Excess & Surplus (E&S) Insurance industry. Several years of disciplined underwriting, including increased rates, adjusted limit deployment, and careful tweaking of policy language, coupled with a tamping of COVID-19 restrictions is resulting in this renewed sense of optimism. Carriers are…

$80 Million Country Club Fire May Have Started With Construction Work

$80 Million Country Club Fire May Have Started With Construction Work

A fire that destroyed much of a historic country club in Bloomfield Hills, Michigan, may have been started by construction work involving a propane torch, new video footage suggests. The Feb. 17 blaze at Oakland Hills Country Club caused an estimated $80 million in damage to the clubhouse and was a near “total loss,” according to reports. Video recovered from…

Return to ‘Normal’ St. Patrick’s Day Crowds Could Mean Greater Risk for Bars

Return to ‘Normal’ St. Patrick’s Day Crowds Could Mean Greater Risk for Bars

After two years of cancellations and uncertainty, crowds are expected to be back in full force for St. Patrick\'s Day 2022 in many areas of the U.S. and Canada. Large groups gathered in the streets and in bars for parades last weekend in cities like San Francisco, California, Chicago, Illinois, and Newport, Rhode Island. Establishments are preparing for big crowds…

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