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140-MPH Tornado Strikes Before Warning, Exposing Costly Coverage Gaps
Inside This Article: An EF3 tornado with estimated 140-mile-per-hour winds reached Wisconsin communities before a tornado warning could be issued and caused extensive damage to buildings and utilities, news outlets reported. Severe storms accounted for eight of the 12 billion-dollar weather and climate disasters recorded in the U.S. during the first half of 2026, according to Climate Central. Today’s Homeowners Insurance policies increasingly
Claude AI Models Breach 3 Organizations During Testing
Inside This Article: Claude AI models recently gained unauthorized access to three outside organizations’ systems during cybersecurity evaluations, according to Anthropic. Anthropic uncovered the incidents during a review of 141,006 evaluation runs and said two affected organizations had not detected the breach before being notified. Cyber & Privacy Liability Insurance and Technology Errors & Omissions (E&O) Insurance may respond to losses involving
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The volatility of storm losses year after year has resulted in many homeowners struggling to find coverage for their property risks—particularly CAT risks. Today’s standard Homeowners’ Insurance policy does not cover every potential peril, which can leave personal property exposed to risks like wildfires, earthquakes, and floods.  The Excess and Surplus (E&S) market, with its flexibility and tailored solutions, remains…
The Residential Property market has experienced severe volatility over the past several years, including pronounced rate increases and capacity limitations in California and other western states impacted by wildfires.  As weather-related catastrophic (CAT) events and wildfires have become more frequent, many insurance carriers have adjusted their risk appetite. An increase in claims activity has forced carriers to limit capacity, resulting…
A pair of ruby slippers worn by Judy Garland in The Wizard of Oz recently became the most valuable movie memorabilia ever sold at auction, fetching $32.5 million in the Heritage Auctions sale that closed Dec. 7. The iconic shoes were sold alongside the hat worn by the Wicked Witch in the 1939 film; the hat sold for $2.9 million,…
In the recent Burns & Wilcox Residential Property webinar, special guest Virginia Mathurin, Director, Property Underwriting, Personal Lines, Markel Specialty, explored the nationwide growth of E&S insurance, driven by admitted carriers retreating from risks due to inflation, rising reconstruction costs, and increased weather events. https://vimeo.com/1036876499/e653e69341?share=copy
Albert Reed, Manager, Personal Insurance, Senior Underwriter, Personal Insurance, San Francisco, CA, shared insights in the Burns & Wilcox Residential Property webinar about the significant growth in E&S and the role of DIC policies in addressing coverage limitations from admitted carriers in California. https://vimeo.com/1036899006/a8463b5d5c?share=copy
During the recent Burns & Wilcox Residential Property webinar, Heather Posner, Vice President, National Product Leader, Private Client, Burns & Wilcox, Cleveland, OH, highlighted the growing need for solutions like flood, earthquake, and deductible buybacks to address gaps in protection. https://vimeo.com/1036886620/925a4bdd7e?share=copy
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