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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\"…

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…

Property & Casualty Report: Q1/Q2 2023

Property & Casualty Report: Q1/Q2 2023

We have seen few changes in the Property & Casualty (P&C) marketplace from Q1 through Q2 of 2023, however, the broader picture is becoming clearer now that 2022 year-end financial filings are available. According to ALIRT Insurance Research, the discrepancy between Personal and Commercial Lines Composite underwriting is historically wide. Namely, the Personal Lines Composite combined ratio of 109 percent…

P&C Market Outlook: Q2 2023

P&C Market Outlook: Q2 2023

During this webinar, our experts provide an outlook into Q2 2023 highlighting Personal Insurance, Commercial Property and Commercial Casualty. We discussed the challenges, emerging markets, and tips for brokers and agents. https://vimeo.com/817407980/9b90680b35

Alert to Dog Owners: Bite Claims Getting More Expensive

Alert to Dog Owners: Bite Claims Getting More Expensive

While the number of dog bite claims has dipped, the cost of dog bite claims has been growing significantly, new data from the Insurance Information Institute shows. Last year, the number of claims decreased 2.2%, but claim costs grew 32% to a per-claim average of $64,555, Property Casualty 360 recently reported. These claims totaled $1.3 billion in 2022, representing a…

90% of Small Businesses Lack Confidence in Being Adequately Insured, Survey Finds

90% of Small Businesses Lack Confidence in Being Adequately Insured, Survey Finds

A recent survey by NEXT Insurance identified that U.S. small business owners tend to lack preparedness and knowledge when it comes to insurance coverage. Among the 500 small business owners surveyed, 96% failed to achieve a grade of 70% or higher on an insurance knowledge test, and only a third of respondents consulted with an insurance…

Ask the Expert Q&A: Errors & Omissions Insurance

Ask the Expert Q&A: Errors & Omissions Insurance

When a business or professional’s services unintentionally lead to a third party’s financial loss, Errors & Omissions (E&O) Insurance can provide important coverage to help limit the impact. To learn more about this type of insurance and why it is important for businesses and professionals, we spoke with Steele Hutto, Senior Broker, Professional Liability, Burns & Wilcox Brokerage. Who should…

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

North Texas DWI Lawsuit Highlights Need for Server Training, Liquor Liability Coverage

North Texas DWI Lawsuit Highlights Need for Server Training, Liquor Liability Coverage

Relatives of the victim of a tragic DWI accident in North Texas are seeking more than $1 million from a restaurant and its employees, claiming that the staff was not properly trained and the establishment lacked proper policies to serve alcohol. Especially with St. Patrick’s Day celebrations around the corner ‑ and many bars, restaurants, and…

Concrete Slab Falls from Apartment Building Construction Site, Injuring Pedestrian

Concrete Slab Falls from Apartment Building Construction Site, Injuring Pedestrian

A 30-year-old woman was sent to the hospital and listed in critical condition after a concrete slab from an apartment building facade broke off and struck her in the head while she walked down the sidewalk in Philadelphia, Pennsylvania, in early February. Contractors were reportedly working on the building when the concrete slab and debris fell from about two stories…

Iowa Lawmakers Consider Liability Protection for Truckers Involved in Serious Crashes

Iowa Lawmakers Consider Liability Protection for Truckers Involved in Serious Crashes

A bill that would limit liability for trucking companies involved in serious accidents was recently advanced by the Iowa House of Representatives. Under House Study Bill 114, a trucking company facing a civil lawsuit over an accident that caused injury or death would not pay more than $1 million in noneconomic damages, Iowa Capital Dispatch reported. The bill would also…

Woman Sues Charter, Captain After Tragic Boating Accident on Lake Michigan

Woman Sues Charter, Captain After Tragic Boating Accident on Lake Michigan

A mother of two who was severely injured after a tragic boating accident on Lake Michigan has filed a lawsuit against the boat rental company, its owner and the boat\'s captain. According to a recent report in the Chicago Sun-Times, Lana Batochir was floating on a raft with her friends at Chicago\'s popular \"Playpen\" boating area on Aug. 13, 2022,…

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