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Michael Jordan’s Rookie Sneakers Estimated to Sell for $1 Million or More
One of the first pairs of sneakers Michael Jordan wore as a professional basketball player could become the most valuable pair ever sold at auction, CNBC recently reported. The red-and-white Nike Air Ships, which Jordan wore in 1984 during his rookie season, are being offered by Sotheby’s and opened for advanced bidding on Oct. 8. The signed sneakers are estimated
Pedal Pubs Prompt Concerns After Falls and Injuries
A recent video that shows a man stumbling off a Tennessee pedal pub and falling into a moving car has added to growing concerns over the safety of open-air bike bars and other so-called “transportainment” vehicles where alcohol is served. In the video, a man is seen sitting in the backseat of a parked Nashville Pedal Tavern vehicle before falling
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Everything you need to know about Parametric Insurance Thursday, November 11, 2021 at 1:30 PM EST Parametric Insurance is reaching a new level of popularity with clients. A form of risk transfer, it’s different from traditional property coverage, in that it issues a set payment upon the occurrence of a triggering event, such as a hurricane or wildfire. To help…
The U.S. government is working with the private sector to bolster the country’s cybersecurity, the White House recently announced. During a meeting on Aug. 25, President Joe Biden called on companies to “raise the bar on cybersecurity” and outlined a number of initiatives to address the growing threat of cybercrime, including plans for the National Institute of Standards and Technology…
A real estate agent and realty company are being sued for their handling of a $4.6 million home sale in Sarasota, Florida. According to a report in the Sarasota Herald-Tribune, a man who wanted to buy the Bird Key neighborhood property but whose offer was not chosen is accusing real estate agent Roger Pettingell and Coldwell Banker Realty of manipulating…
An 11-mile-long oil slick in the Gulf of Mexico is one of more than 2,000 reports of water pollution being investigated by authorities in Louisiana after Hurricane Ida tore through the state on Aug. 29. The ruptured pipeline is located just south of oil and gas hub Port Fourchon, where the Category 4 storm caused significant damage and forced the…
At least 22 individuals were killed and many more remained missing after a flash flood ravaged the rural town of Waverly, Tennessee on Aug. 21. The sudden torrent of rain — estimated at 17 inches, likely setting a state record — swept away vehicles, tore homes off their foundations and crumbled roads and bridges. By Aug. 23, officials were reportedly…
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…
Other Recent Intel
In this webinar, our experts joined for a discussion on Restaurants and Bars, including: state of the industry, current insurance market conditions, tips for brokers and agents, and specialty solutions. https://vimeo.com/605080138/4da76097ec
Our experts met for a discussion on Commercial Property, including the current trends impacting the property market across the U.S. and Canada. https://vimeo.com/580897816/ad93c6b121
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…
Legal cannabis sales in the U.S. could exceed $30 billion by 2022, marijuana analytics company Headset recently projected in an updated long-term forecast. It is an increase in estimated sales from the Seattle-based firm’s previous report, released in April, that showed the U.S. market reaching $28 billion in yearly sales by 2022. The change reflects new recreational or medical marijuana…
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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