Burns and Wilcox News

Tag: commercial

Commercial Marine Insurance: Comparing Cruise Ships to Local Ferries

The cruise ship industry sees nearly $38 billion in revenue annually around the world, with more than $15 billion invested into new cruise ships. Ferries, cruise ships, and other passenger vessels are a much different exposure than cargo ships that carry dry cargo, not people. Accidents and catastrophic mechanical failures with passenger vessels often result in…

3 Best Practices When Working with Cross-Border Clients

Several high-profile incidents over the last few years have kept the spotlight on how businesses are (or aren’t) managing their environmental risks. With continued public pressure on politicians and regulators to hold industry professionals accountable for their actions, the growth of environmental insurance is expected to continue and the number of businesses seeking out strategies…

Extreme Entertainment – Extreme Risk!

Millennials are quickly becoming one of the most prominent generations in the workplace. Focused on findings jobs that provide “meaning” and a stimulating company culture, they are constantly looking for workplace environments where they can bond with colleagues and impact the lives of others. Smart companies know that in order to keep this generation engaged they…

Risk Below the Surface

Transporting materials is a complex process involving numerous parties with competing interests and responsibilities. Global in scope, modern supply chains are fraught with risk as freight forwarders work with cargo carriers to ensure products are transported safely and efficiently from point A to point B, crossing borders and great distances by land, air and sea….

Protection Beyond the Helmet and Pads

Specialized insurance, classified as Accident and Health Sports Coverage, is available for the thousands of organizations and individuals that make up the sports industry. The most common type of coverage, Personal Accident, includes Accidental Death and Dismemberment, Permanent Total Disability (such as a career-ending injury), Accidental Medical Expenses, Temporary Total Disability (a form of income…

Policies Must Keep Pace with Investments

Alternative investment categories continue to be popular among high-net-worth investors who are already well-diversified in their traditional financial portfolios and are now seeking long term appreciation for tangible assets. As a result, interest in jewelry and fine art collection has grown steadily in recent years and savvy collectors have been able to realize greater returns…

Evolving Insurance Requirements Spread Risk Among Contractors

Large construction projects are extraordinarily complex and require intense collaboration between all parties including designers, engineers, contractors and subcontractors. It is essential that these professionals are on the same page from day one and take full advantage of the opportunity to incorporate new and emerging technologies, materials and features that can enhance the design aesthetic…

Understanding Contractors’ Mobile Plant and Equipment Coverage

What type of client is most interested in seeking this coverage? What questions should brokers and agents ask their clients to understand when this coverage is required? What additional benefits does this product offer to the client? Robert Hubbard, a Director with Lochain Patrick, explains the nuances associated with Contractors’ Mobile Plant & Equipment coverage.

Perpetual Responsibility and the Risk of Unique Claims

Major infrastructure developments around the country have helped bring the construction and building industries back to life following the economic downturn. According to recent figures from the U.S. Census Bureau’s Value of Construction Put in Place Survey, more than $900 billion was invested in construction work across the country. As investment in building and construction…