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Stolen Skeleton Unearths Halloween Insurance Risks
Inside This Article: A Halloween lawn decoration depicting a skeleton riding a rooster was recently stolen from a homeowner’s yard in Henderson, Kentucky. Beyond the risk of theft, seasonal decorations can also pose fire hazards, with home fires involving decorations causing about $17 million per year in property damage between 2019 and 2023. Homeowners Insurance can cover theft, fire
$16M Verdict Follows Mechanical Bull Injury at Bar
Inside This Article: A couple was recently awarded $16 million after suing a Kansas City bar where the man allegedly fell from a mechanical bull. Before the trial, the couple sought $8 million to settle the case, while the defendants offered $2.2 million, according to Missouri Lawyers Media. Commercial General Liability (CGL) Insurance can cover customer injury claims; however,
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A recent study examined 1.2 million on-the-job injury reports to determine which populations are most vulnerable to Workers’ Compensation Insurance claims, Property Casualty 360 reported this month. Brand-new hires were responsible for 34% of all claims assessed; among small businesses, first-year workers made up around 43% of claims, the publication reported. First-year workers have long been associated with a higher…
During this webinar, Our experts discuss the current state of the Flood Insurance Market for both residential and commercial properties. They also review flood modeling, parametric coverage, tips on how brokers and agents can approach the challenges within this space, and more. https://vimeo.com/825984690/7c3272a447?share=copy
The state of the professional liability market for contractors includes both challenges and opportunities. While the market is generally stable, there has been a recent increase in the severity of claims which has increased the costs of settling them. Today claims regularly take one year or longer to finalize. Added pressure is placed on the market in the form of…
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\"…
A bill that would give cannabis businesses access to financial services was recently reintroduced in the U.S. House of Representatives and Senate. The Secure and Fair Enforcement (SAFE) Banking Act, which has bipartisan support, was passed in the House multiple times and could be voted on in the Senate this year, CNBC reported April 27. Federal…
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…
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