Intel

Residents of an apartment complex in Atlanta, Georgia, that was severely damaged in a three-alarm fire on Nov. 10 have filed a class-action lawsuit against the building owners, claiming the owners failed to maintain the property’s fire suppression system and allowed access to the roof, where the fire began. The devastating blaze that destroyed most of the Reserve at LaVista…

Despite the continued “flight toward profitability” for most carriers, moderation in both rate and capacity is occurring in many insurance sectors. Most rates are rising, but the level of increases is slowing. Capacity is generally available but often requires creativity. On the Casualty side, some classes remain stressed while carriers are competing for business in others. These and other trends…

During this webinar, our experts gathered for an outlook into Q4, including high-level market overviews and insights. https://vimeo.com/873830823/a60f420cfa?share=copy

The title of this quarter’s overview and forecast could easily be: “Profitability Matters.” That is especially true in the Property space for both Personal and Commercial policies. The industry faces daily challenges from CAT storms and events, making every state subject to immediate loss from hurricanes, wildfires, and convective storms—defined as severe local storms associated with wind, thunder, lightning, heavy…

The historic Union Printers Home building in Colorado Springs, Colorado, sustained more than $250,000 in damages after thieves stripped the property of copper wiring and tubing on July 6. According to reports, a maintenance worker notified police of the theft in progress and two of the suspects were arrested as they left the building. The next day, additional suspects returned…

During this webinar, our experts gathered for an outlook into Q3, including high-level market overviews and insights. https://vimeo.com/845283560/f772266f72?share=copy

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…

A new report from the U.S. Geological Survey (USGS) indicates that the economic toll of earthquakes has reached an estimated $14.7 billion in total annualized building damages and associated losses. That figure is double previous estimates and accounts for higher property values, building improvements and other factors, Property Casualty 360 recently reported. Released April 18 in…

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

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…

Multiple fans were injured and carried out on stretchers after slipping and falling at SoFi Stadium in Los Angeles, California, during an NCAA championship football game on Jan. 2, according to reports. Heavy rainfall reportedly caused extremely slippery floors at the stadium, which has a hovering roof that is open on three sides, allowing sideways-blowing rain to enter. In a…

2022 was a year that few in the Property and Casualty (P&C) sector could have predicted. Instead of stability, the market remained largely volatile, especially in the Property sector and the reinsurance marketplace. Many carriers suffered through unprofitable years thanks to Hurricane Ian, inflation, and an adverse property insurance environment primarily in Florida and Gulf coast states. Above all, losses…