Intel

Following several years of double-digit rate increases and restrictive adjustments to Terms and Conditions (T&C), the Property Insurance sector has reached a point of relative stability. Rates are largely modest as insurers secure the required premium, now applying rates against a proper exposure basis—Insurance to Value (ITV). With few exceptions of traditional CAT-prone perils in specific geographies, most carriers are…

More companies in the U.S. and Canada are incorporating the use of biometric data into their operations, raising unease for some consumers, and prompting a number of class-action lawsuits over information that may be collected improperly. Airports are among the latest industries to join the trend, with CBC News recently reporting on airlines like Air Canada and various airports implementing…

The engineer allegedly responsible for a partial building collapse in the Bronx in December has had their license suspended for two years by the city of New York and faces a $10,000 fine, according to reports. No one was injured but dozens of families lost their homes after the collapse of the seven-story apartment building, part of which was under…

Business travelers using unsecured networks and personal devices while away from the office could be putting their companies at greater risk for cybercrime, new data suggests. According to a World Travel Protection survey, just 36% of American companies require two-factor authentication on employees’ devices, 32% use antivirus software, and 30% have their employees use a virtual private network, or VPN,…

Many of the primary factors that influenced the status of the Property & Casualty (P&C) market in 2023 are likely to remain in 2024. We continue to operate in a comparatively hard environment marked by rising but moderating rates on some lines of business, where it is often necessary to layer available capacity that includes carefully worded terms and conditions…

Family members\' names, birth years, relationship labels, shared DNA information and more were recently exposed in a data breach against genetic testing company 23andMe in an attack that impacted 6.9 million individuals. While the biotech firm explained in an announcement that less than 0.1% of user accounts were accessed in the October breach, this gave hackers access to about 5.5…

Organizations face a multitude of risks at any given time, yet the top cause of stress for business leaders, for the third time in four years, remained cyber risks. Given mounting concerns, the demand for risk mitigation efforts and Cyber & Privacy Insurance policies have drastically increased. While security tools and training have become much more advanced in their effectiveness,…

The risk of a cyberattack is a leading concern for a majority of business owners, yet many have not taken some of the key steps needed to prevent or respond to a cyber incident, according to a new survey of business leaders. The Travelers Risk Index, an annual report that studied more than 1,200 business decision-makers, found that cyber risks…

The owner of a 116-year-old building that partially collapsed earlier this year is taking legal action against the engineering company that allegedly failed to recognize that the building was unsafe, according to reports. The apartment building in Davenport, Iowa, partially collapsed on May 28, tragically killing three men and injuring several others, including one woman who needed a leg amputation…

During this webinar, our experts gathered for a discussion on the current state of the Cyber Liability market. Our panel explored cybersecurity controls, discussed claims examples, and provided tips for brokers and agents.   https://vimeo.com/864574556/afa5fa8144?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…

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