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Peloton Recalls 54,000 Bike Pedals after Breakage, Injury Reports
Peloton recently announced that it is recalling the pedals on 27,000 indoor stationary bikes after receiving reports of 16 injuries and 120 pedal breakages. A statement from the high-end spin bike maker said the recall applies to PR70P pedals placed on bikes sold between July 2013 and May 2016 and recommends discontinuing use of affected bikes until new pedals are
Gas Line Explosion, Two-Crane Accident Underscore Construction Perils
An October 7 construction site accident in Montgomery, Ohio triggered a gas line explosion that sent flames and smoke into the sky for hours and forced the evacuation of nearby buildings. A John R. Jurgensen Company construction truck reportedly backed over the gas line and struck a utility pole, igniting the blast and shaking the surrounding area. Thankfully, there were
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Ocean Cargo Insurance Webinar Thursday, November 5, 2020 at 1:30 PM ET Please join us for a discussion on Ocean Cargo coverage with special guests, Mark Engel, Managing Director, RB Jones Marine, and John Gambino, Underwriting Manager, Cargo, RB Jones, and Patrick Barco, Manager Ocean Marine of Burns & Wilcox Canada. Hosted by Jodie Kaufman Davis, Corporate Senior Vice President, Managing…
The demand for Cyber & Privacy Insurance products has exploded in 2020 based on both natural market growth associated with ever-increasing threats to online systems and the COVID-19 impact that has accelerated the working from home trend, video communications and the need for other high-tech systems to support business and personal needs. Ransomware, social engineering and other digital attacks have…
The Glass Fire, one of 23 major wildfires burning across California, has destroyed or damaged at least 17 wineries in Napa Valley. More than 215 other wineries are under mandatory evacuation orders. As of October 5, the wildfire had also destroyed 550 homes and more than 66,800 acres. The small vineyard at Behrens Family Winery in St. Helena suffered extensive…
In 2018 alone, Internet-enabled theft, fraud and exploitation caused $2.7 billion in financial losses in the U.S. and more than 900 complaints sent to the FBI’s Internet Crime Complaint Center each day, on average. To learn more about cybersecurity risks and how to defend against them, we spoke with David Derigiotis, Corporate Senior Vice President, National Professional Liability Practice Leader,…
Over the last year, the Homeowners & Dwellings insurance market has experienced an increase in claims, specifically for historic and catastrophic events. Consider: The national Oceanic Atmospheric Administration’s Climate Prediction Center indicated in early August that the Atlantic hurricane season is on pace to become one of the worst in recorded history. As of September 2, there was already an…
Last week, the personal data of employees and students in a Las Vegas public school district with about 320,000 students was made public after the district refused to pay a hacker’s ransom. The released documents contained Clark County Public School District personnel and student records, Social Security numbers, addresses, grades and other private information stolen in an August 27 ransomware…
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Special Guest: Hank Watkins, Lloyd\'s Regional Director & President, Americas Hosted by: Paul Smith, Vice President, Carrier Relations, H.W. Kaufman Group During this webinar, we discussed: An overview of Lloyd\'s in the United States The future of the market Technology\'s role in improving processes and agent experiences https://vimeo.com/468713280/a60c13daa4
Presented by: Margaret Karnick, Senior Underwriter, Professional Liability, Burns & Wilcox, and Karl Olson Vice President, Professional and Management Liability Practice Leader, Burns & Wilcox Brokerage Hosted by: David Derigiotis, Corporate Senior Vice President, National Professional, Liability Practice Leader, Burns & Wilcox This webinar discusses: The hardening insurance market for Senior Living Facilities How an underwriter evaluates facilities risks today…
Colorado, Illinois and Ohio set new records for monthly marijuana sales in July and August, underscoring the resilience of the cannabis industry amid the COVID-19 recession. In July, recreational and medical marijuana stores in Colorado generated a combined $226.4 million in revenue, up 13.8 percent from June, and Ohio saw a record $21 million in medical marijuana sales. In August,…
Presented by: Barry Whitton, Managing Director, Burns & Wilcox Brokerage, Amber Carver, Vice President, Associate Managing Director, Burns & Wilcox, and Tyson Peel, Vice President and Director, Property & Casualty, Burns & Wilcox Canada Hosted by: Chris Zoidis, Executive Vice President, H.W. Kaufman Group During this webinar, we discussed: The market overview from both a property and liability perspective The changing dynamics…
In a span of just 20 minutes on September 8, wind gusts of nearly 100 miles per hour flipped 45 semi-trucks on some Northern Utah highways. Four drivers were hospitalized with injuries and one semi-truck driver suffered a fatal head injury when the wind blew open his cargo door during a delivery and knocked him to the ground. Authorities said…
The Management Liability market continues to undergo significant transformations as products within the Directors and Officers Liability (D&O), Employment Practice Liabilities (EPL) and Fiduciary Liability (FL) areas are experiencing changes in coverage, limits and premiums that are impacting the broader market. The ongoing growth in settlements for many claims, particularly in such areas as harassment, discrimination, corporate mismanagement and regulatory…
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