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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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As labor shortages continue across the U.S., multiple industries are feeling the impact. Recent news reports describe hospitals in Virginia cross-training employees amid a shortage of nurses and other staff, hotel workers in Idaho switching between front desk work and housekeeping duties, and Texas schools starting the new term without enough teachers or bus drivers. The ongoing lack of workers…
As the energy industry continues to rebound after a challenging year, Crain’s Content Studio recently spoke with Cree Teel, Vice President, Broker, Burns & Wilcox Brokerage, Dallas, Texas, to learn more about Energy Insurance. What are the greatest risks in the energy industry today? C.T.: In my opinion, the greatest risk is the price of oil. When prices dip below…
The Commercial Property Insurance market in the U.S. and Canada is continuing to experience tightening of capacity and rising premiums, although rates are not increasing at the rate of Summer/Fall 2020, according to a group of industry experts with Burns & Wilcox. This means brokers need to provide all the documents necessary for renewal or new policies to ensure they…
At least 108 active wildfires were burning in the U.S. as of Aug. 10, involving over 2.4 million acres of land in 15 states. The Bootleg Fire in Southern Oregon has burned more than 400,000 acres since it was ignited by lightning on July 6 and although it was 98% contained as of Aug. 10, officials said it was nowhere…
Wildfires are a growing risk for homeowners in many areas. To learn more about how homeowners can protect themselves and their property, Crain’s Content Studio spoke with Pamela Alphabet, Regional Practice Group Leader, Personal Insurance, Burns & Wilcox, Scottsdale, Arizona. How serious is the wildfire threat for homeowners today? P.A.: Each year, the risk continues to increase. By far, the…
The Transportation Insurance industry remains entrenched in a decade-long hard market in the commercial auto segment while carriers remain as diligent as ever in their risk selection procedures. The segment experienced $4 billion in losses in 2019, and while that expectation is that losses were lower in 2020 because of the pandemic, it hasn’t slowed the long-term trend. Simultaneously, rates…
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