Intel

A bottle of the “world’s most valuable” whisky will go up for auction at Sotheby’s on Nov. 18 and is estimated to sell for between $910,000 and $1.5 million, according to reports. The Macallan Valerio Adami 1926 is one of just 40 bottles filled in 1986 after the liquor aged for six decades in sherry casks, making it the oldest…

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…

The last few years have been challenging for the Property & Casualty (P&C) industry and the first half of 2023 was no different. After the first three months, the Insurance Information Institute had already predicted that 2023 would be unprofitable for carriers in P&C. Overall performance through the first six months has been as bad as the industry has seen…

More than 1.2 million homes in California are at a moderate or high risk of wildfire damage, representing a reconstruction cost value of more than $760 billion, according to a new report on wildfire risk in the U.S. It is just one of the findings from property analytics firm CoreLogic’s 2023 Wildfire Risk Report, which details wildfire threats, reconstruction costs,…

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

An unprecedented rainfall flooded parts of South Florida, grounding flights for two days at Fort Lauderdale-Hollywood International Airport while its tarmac looked “like a lake” and causing a seaport deluge that led to disruptive gas shortages. In the weeks since, officials are continuing to assess the damage and reflecting on the region’s readiness for other similar disasters. [lgc_column grid=\"50\" tablet_grid=\"50\"…

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…