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P&C Market Outlook: Q4 2023 Thursday, October 23 at 1:30 PM ET Please join us for an outlook into Q4, including high-level market overviews and insights. Featured Experts: Anella Niewenhous, Associate Vice President, Regional Practice Group Leader, Personal Insurance, Burns & Wilcox, Morehead City, NC Scott Lane, Associate Managing Director, Broker, Property, Burns & Wilcox Brokerage, Atlanta, GA Jordan Muckway,…

During this webinar, our special guest experts explore the current challenges and provide tips for brokers and agents on how to be successful in finding solutions for Private Client insureds. Featuring: • Heather Posner, Associate Vice President, National Product Leader, Private Client, Burns & Wilcox, Cleveland, OH • Sarah Chandonnet, Director, Private Client, Burns & Wilcox, Detroit/Farmington Hills, MI •…

Inflation in the U.S. has fallen from 9% to 3% over the past 12 months, with Americans seeing some relief on the cost of things like gas, groceries and airfare, according to the Associated Press. That leaves inflation still \"significantly above\" the Federal Reserve\'s target of 2%, officials said in recent days, and multiple rate hikes may be needed to…

A homeowner in Connecticut is facing a dog bite claim that will not be covered by insurance after his agent allegedly failed to disclose the dog on his Homeowners Insurance application. Antonio Laires, who is being sued over an incident in which his dog reportedly bit a woman on her face, claims he did not realize that his pet was…

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

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…

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…