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Property & Casualty Market Overview & Forecast: Eye on 2021

Property & Casualty Market Overview & Forecast: Eye on 2021

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group As reported in our earlier quarterly overviews, 2020 was unparalleled from any vantage point. Beyond the onset of a global pandemic early in the year, rates were already rising, capacity was being deployed much more acutely, and terms & conditions were being underwritten more vigorously as the…

Over 762,000 Pounds of Hot Pockets Recalled for Possible Glass, Plastic Contamination

Over 762,000 Pounds of Hot Pockets Recalled for Possible Glass, Plastic Contamination

Nestlé Prepared Foods recalled approximately 762,615 pounds of Hot Pockets this month due to concerns they possibly contain glass and hard plastic. The recall, announced by the U.S. Department of Agriculture\'s Food Safety and Inspection Service on January 15, followed four consumer complaints about extraneous materials inside the microwaveable filled pastry. One complaint reportedly involved an oral injury. The recall…

Eye on 2021: Casualty Insurance Overview

Eye on 2021: Casualty Insurance Overview

While 2020 presented its challenges, the Casualty Insurance marketplace was changing long before. In 2021, Marc Adler, Burns & Wilcox Brokerage, expects the market to continue to evolve, with Excess, Habitational and Hospitality industries leading the way with the most radical changes. Watch the full Eye on 2021: Specialty Insurance webinar here. https://vimeo.com/503591536/76d488c20b

Mammoth Sinkhole Forces Hospital to Relocate COVID Patients

Mammoth Sinkhole Forces Hospital to Relocate COVID Patients

A mammoth sinkhole opened up in the visitors’ parking lot at Hospital of the Sea in Naples, Italy on January 8, consuming three cars and forcing the temporary closure of a nearby residence for recovering COVID-19 patients. Though the sinkhole measured a whopping 66 feet deep and 21,527 square feet across, no injuries were reported and six patients were relocated…

General Contractor Fined $25,000 for Sewage Spill

General Contractor Fined $25,000 for Sewage Spill

The Hawaii Department of Health issued a Notice and Finding of Violation and Order on January 7 against a contractor responsible for a sewage spill that sent 28,000 gallons of untreated domestic sewage into Reed’s Bay, just off the coast of the Big Island. The leak occurred on November 30, when workers for Maui-based Goodfellow Bros., LLC, a general contractor…

Eye on 2021: Specialty Insurance Overview

Eye on 2021: Specialty Insurance Overview

This webinar includes a high-level overview of market conditions and expert insight on: Personal Insurance Professional Liability Commercial Insurance Casualty Brokerage Property Brokerage Carrier Perspective Featuring: Blaise D’Antoni, Executive Vice President, Burns & Wilcox, David Derigiotis, Corporate Senior Vice President, National Professional Liability Practice Leader, Burns & Wilcox, Bill Gatewood, Corporate Senior Vice President, National Personal Insurance Practice Leader, Burns…

Property & Casualty Market Overview: Q3 2020

Property & Casualty Market Overview: Q3 2020

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group The Property & Casualty (P&C) insurance marketplace continued its momentum from the first half of 2020 into the third quarter showing no signs of retreat. The Burns & Wilcox Q2 2020 Property & Casualty Market Overview was packed with information on overall market conditions, new capacity, consolidation,…

Kroger Announces COVID-19 Antibody Rapid Testing Program

Kroger Announces COVID-19 Antibody Rapid Testing Program

Kroger Health recently announced that it will offer rapid COVID-19 antibody testing at all of its pharmacy and clinic locations by the end of November. The Kroger Company grocery store chain will charge $25 for the test, which can detect previous coronavirus infection and typically generates results in about 15 minutes. The COVID-19 antibody test is reported to be available…

Peloton Recalls 54,000 Bike Pedals after Breakage, Injury Reports

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…

17 Wineries Scorched, Hundreds Threatened by Raging Napa Valley Wildfire

17 Wineries Scorched, Hundreds Threatened by Raging Napa Valley Wildfire

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…

Marijuana Sales Soar, Three States Set Monthly Records

Marijuana Sales Soar, Three States Set Monthly Records

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,…

Hurricane Laura Slams Energy Industry Reeling from Pandemic

Hurricane Laura Slams Energy Industry Reeling from Pandemic

Oil and gas production in the Gulf of Mexico was slowed significantly beginning on August 23, as a pair of tropical storms approached U.S. shores and forced the shutdown and evacuation of nearly 300 offshore platforms. Hurricane Laura, one of the most powerful storms to ever hit the U.S., made landfall on August 27, devastating the city of Lake Charles,…

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