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Latest Floods Devastate Eastern Kentucky, Deluge Vegas Casinos

Latest Floods Devastate Eastern Kentucky, Deluge Vegas Casinos

At least 37 individuals were tragically killed and hundreds more remained missing as of Aug. 1 after heavy rains brought devastating floods to multiple communities in eastern Kentucky. At a news conference July 30, officials said the death toll spanned five counties and included at least four children, representing \"unfathomable\" losses in what could reportedly be one of the worst…

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…

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…

Airbnb Restarts ‘Anti-Party Crackdown’ Amid Busy Season for Home, Pool Rentals

Airbnb Restarts ‘Anti-Party Crackdown’ Amid Busy Season for Home, Pool Rentals

Strict “anti-party” measures were recently rolled out by Airbnb in an effort to reduce unauthorized parties at vacation rental homes during the summer holidays. The efforts include restrictions on one- and two-night reservations and having guests affirm that they understand the party ban and could face legal action if they do not comply, CNN reported. First…

Market Overview: Flood Modeling and Insurance Perspectives

Market Overview: Flood Modeling and 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 market is challenged by double-digit inflationary percentage increases, and the adverse impact of climate change leading to warmer ocean temperatures and more severe catastrophic storms. Against this backdrop…

Warhol Painting Sells for Record-Setting $195M Amid Growing Interest in High-Value Art

Warhol Painting Sells for Record-Setting $195M Amid Growing Interest in High-Value Art

A famous portrait of Marilyn Monroe painted in 1964 by Andy Warhol recently sold at auction for over $195 million, setting records for the most expensive piece of 20th century art ever sold and the highest amount paid for a piece of American artwork. The May 9 sale of the vibrant silkscreen, titled \"Shot Sage Blue Marilyn,\" also made history…

Flood Watch: Insurance Perspectives & Modeling

Flood Watch: Insurance Perspectives & Modeling

In this webinar, Guy Morrow joined Mathew Stollery from Argo Syndicate 1200, Lloyd’s, and Burns & Wilcox experts Brad Turner and Sarah Chandonnet to discuss the current and future state of the Flood Insurance Market. Morrow’s firm, KatRisk, is a leader in global catastrophe modeling. Together the panelists discussed flood risk modeling and predictions, NFIP’s Risk Rating 2.0, private flood solutions and tips for brokers and…

Two Outer Banks Homes Collapse Into Ocean on Same Day

Two Outer Banks Homes Collapse Into Ocean on Same Day

Two unoccupied homes in the Outer Banks collapsed into the ocean on May 10, with dramatic video footage showing one of the houses get rapidly swept away after the wooden stilts holding it up broke apart. The other home collapsed only hours earlier, spreading debris across a wide path and leading officials to close area beaches due to the risk…

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…

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