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P&C Report: 2024 Forecast

P&C Report: 2024 Forecast

Many of the primary factors that influenced the status of the Property & Casualty (P&C) market in 2023 are likely to remain in 2024. We continue to operate in a comparatively hard environment marked by rising but moderating rates on some lines of business, where it is often necessary to layer available capacity that includes carefully worded terms and conditions…

Builders, Homeowners Strained as Construction Costs Continue to Rise

Builders, Homeowners Strained as Construction Costs Continue to Rise

Home building costs are continuing to rise in the U.S. and Canada. In San Jose, California, construction costs have reached record highs as builders deal with increased costs and high interest rates, Newsweek recently reported. Many would-be homeowners are priced out of the market, while some home builders have turned to designing smaller houses so more buyers can afford them.…

70 Million ‘Liquid Roller’ Candy Products Recalled Over Choking Hazards

70 Million ‘Liquid Roller’ Candy Products Recalled Over Choking Hazards

More than 70 million candy products that contain rolling liquid dispensers were recently recalled due to the risk of choking. The two products separately recalled — 145,800 Cocco Candy Rolling Candy dispensers and 70 million of the Candy Dynamics Slime Licker Sour Rolling Liquid Candy — contain a roller ball mechanism that dispenses liquid. According to the U.S. Consumer Product…

Ask the Expert Q&A: Hospitality Insurance

Ask the Expert Q&A: Hospitality Insurance

From altercations between patrons to overserving alcohol, bars and restaurants face a number of risks that could lead to costly liability claims. To learn more about the risks and insurance solutions in the hospitality industry, Crain’s Content Studio spoke with Connor Farquharson, Manager, Commercial Insurance, Burns & Wilcox, Dallas/Ft. Worth, Texas. What are some of the greatest risks in the…

Man Sues Olive Garden Claiming Injury, Anguish After Finding Rodent Part in Soup

Man Sues Olive Garden Claiming Injury, Anguish After Finding Rodent Part in Soup

A man is taking legal action against the popular restaurant chain Olive Garden after alleging that he found a rat\'s foot in a spoonful of his minestrone soup during a March visit to the eatery’s Warren, Michigan, location. According to the lawsuit, the foot injured the inside of the diner’s mouth and caused him to get physically ill. [lgc_column grid=\"50\"…

Baby Monitors, Dehumidifiers Recalled Over Burn Risks from Overheating Batteries

Baby Monitors, Dehumidifiers Recalled Over Burn Risks from Overheating Batteries

Philips Avent recently recalled nearly 13,000 baby monitors after receiving reports of the devices overheating, causing seven minor injuries. The affected Digital Video Baby Monitors, which were manufactured between March 2016 and December 2019 and sold for between $120 and $200, could have an issue with their rechargeable lithium-ion batteries. The batteries reportedly could overheat when…

Crane Accident Causes Injuries, Strikes Nearby Building

Crane Accident Causes Injuries, Strikes Nearby Building

A construction crane accident in New York City tragically injured 11 individuals and shut down traffic July 26 after the crane burst into flames 45 stories above ground. The top portion of the crane, which was lifting 16 tons of concrete at the time as it worked on a 54-story building in Midtown Manhattan, struck a neighboring building as it…

THC-laden Doritos, Oreos, Other Lookalike Snacks Called ‘Reckless and Illegal’

THC-laden Doritos, Oreos, Other Lookalike Snacks Called ‘Reckless and Illegal’

Federal regulators in the U.S. are demanding that several cannabis companies stop making THC-containing products that mimic common children’s snacks like Doritos, Nerds candy, and Oreos. Making cannabis edibles that kids could mistake for normal food items is \"reckless and illegal,\" Samuel Levine, a Federal Trade Commission director, said in a July 5 statement announcing the cease-and-desist letters that were…

Risk of Injuries Forces Recall of 2.2 Million Peloton Bikes

Risk of Injuries Forces Recall of 2.2 Million Peloton Bikes

Peloton is recalling nearly 2.2 million exercise bikes after receiving 35 reports of seat posts unexpectedly breaking during use, the company announced on May 11. The voluntary recall can be remedied with a free updated seat post that users can self-install. Customers are asked to immediately stop using their affected bikes until the update is completed. [lgc_column grid=\"50\" tablet_grid=\"50\" mobile_grid=\"100\"…

Ask the Expert Q&A: Construction Insurance

Ask the Expert Q&A: Construction Insurance

As cranes and scaffolding dominate skylines in major cities across the U.S., it is clear that the construction industry is bustling in many areas. To learn how Construction Insurance helps protect construction companies, Crain’s Content Studio spoke with Nicholas Freeman, Associate Managing Director, Broker, Casualty, Burns & Wilcox Brokerage, North Dallas, Texas. What are the greatest risks in the construction…

Contractors Professional Liability Market Overview

Contractors Professional Liability Market Overview

The state of the professional liability market for contractors includes both challenges and opportunities. While the market is generally stable, there has been a recent increase in the severity of claims which has increased the costs of settling them. Today claims regularly take one year or longer to finalize. Added pressure is placed on the market in the form of…

The Increasing Professional Liability Exposures of Contractors

The Increasing Professional Liability Exposures of Contractors

From large general contractors to small specialty contractors, the construction landscape is changing. During this webinar, we gathered to discuss how these changes in design-build and specialty areas can increase your clients\' exposures, along with tips on how to mitigate these risks. https://vimeo.com/811031674/e202360f8c

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