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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…

Eye on Q4: Environmental Insurance Overview

Eye on Q4: Environmental Insurance Overview

https://vimeo.com/631076560/be8614acd6

Eye on Q4: Specialty Insurance Overview

Eye on Q4: Specialty Insurance Overview

During this webinar, our experts provide outlook into the fourth quarter of 2021, with specific insights into Brokerage Property, Environmental, and Commercial Insurance. Hosted by Paul Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group. https://vimeo.com/625777766/615b9b2381

Hurricane Ida Linked to Over 2,000 Water Pollution Reports

Hurricane Ida Linked to Over 2,000 Water Pollution Reports

An 11-mile-long oil slick in the Gulf of Mexico is one of more than 2,000 reports of water pollution being investigated by authorities in Louisiana after Hurricane Ida tore through the state on Aug. 29. The ruptured pipeline is located just south of oil and gas hub Port Fourchon, where the Category 4 storm caused significant damage and forced the…

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.…

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…

Piney Point Wastewater Cleanup Near Tampa Bay Could Cost $200 Million

Piney Point Wastewater Cleanup Near Tampa Bay Could Cost $200 Million

Wastewater disposal, site cleanup and complete closure of a former phosphate mining facility in Manatee County, Florida could cost up to $200 million, said Florida state officials this week as they debated the allocation of funding to begin the cleanup process. Piney Point, which opened as a fertilizer plant in 1966 and was abandoned in 2001, has been a source…

Clearing the Air on Environmental Risk

Clearing the Air on Environmental Risk

Environmental losses, site pollution risks and Environmental Insurance solutions were among the topics addressed in a webinar hosted by Burns & Wilcox. Environmental losses that are not covered by insurance are thought to amount to about $1 billion per year. This is largely because many business owners do not believe they have an environmental exposure; those in sectors that do…

General Contractor Fined $25,000 for Sewage Spill

General Contractor Fined $25,000 for Sewage Spill

The Hawaii Department of Health issued a Notice and Finding of Violation and Order on January 7 against a contractor responsible for a sewage spill that sent 28,000 gallons of untreated domestic sewage into Reed’s Bay, just off the coast of the Big Island. The leak occurred on November 30, when workers for Maui-based Goodfellow Bros., LLC, a general contractor…

Ask the Expert Q&A: Environmental Insurance

Ask the Expert Q&A: Environmental Insurance

Mold contamination, storage tank leaks and other environmental hazards can cost hundreds of thousands of dollars to resolve, yet approximately 90 percent of all environmental losses are not covered by insurance. To learn more about mitigating environmental risks, we spoke with Gina Jones, Vice President, Director, Environmental Programs, Burns & Wilcox. What businesses are at risk for environmental losses? G.J.:…

Hurricane Laura Slams Energy Industry Reeling from Pandemic

Hurricane Laura Slams Energy Industry Reeling from Pandemic

Oil and gas production in the Gulf of Mexico was slowed significantly beginning on August 23, as a pair of tropical storms approached U.S. shores and forced the shutdown and evacuation of nearly 300 offshore platforms. Hurricane Laura, one of the most powerful storms to ever hit the U.S., made landfall on August 27, devastating the city of Lake Charles,…

Property Owner Settles Tenant Lawsuit for $3.5 Million

Property Owner Settles Tenant Lawsuit for $3.5 Million

The former owner and manager of two apartment complexes in Washington, D.C. will pay $3.5 million to settle a tenant lawsuit alleging rat and bed bug infestations, sewage leaks, mold contamination and other hazards. The lawsuit, brought by the district’s attorney general in October 2018, also claimed the buildings’ hundreds of tenants were subjected to persistent violence, including multiple homicides…

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