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Storm Damage Costs Could Be Highest in Texas, U.S. History

Storm Damage Costs Could Be Highest in Texas, U.S. History

The winter storm that knocked out power for millions amid frigid temperatures and spawned a rash of water-related disasters is expected to be the costliest weather event in Texas history. More than a week after the storm began on February 11, a third of Texas residents continued to experience power service disruptions, millions lacked ready access to safe water, and…

Bitter Cold, Heavy Snow Slam Homeowners, Businesses Across U.S.

Bitter Cold, Heavy Snow Slam Homeowners, Businesses Across U.S.

Collapsed roofs, caved-in foundations and broken windows are evidence of the destruction caused by bitterly cold temperatures and powerful winter storms that have hammered the U.S. and parts of Canada1 in recent weeks. As of February 17, 2.7 million Texans are still without power from a severe storm system spanning 25 states that began on February 13. The storm has…

Tom Brady Rookie Card Fetches a Record $555,988 at Auction

Tom Brady Rookie Card Fetches a Record $555,988 at Auction

An autographed Tom Brady rookie card was purchased at auction on eBay for $555,988 January 25, one day after the NFL’s Tampa Bay Buccaneers quarterback helped his team secure a spot in Super Bowl LV. The rare 2000 card was rated PSA Gem Mint 10—virtually perfect—condition1 and depicts Brady the year he was drafted by the New England Patriots. It…

Property & Casualty Market Overview & Forecast: Eye on 2021

Property & Casualty Market Overview & Forecast: Eye on 2021

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group As reported in our earlier quarterly overviews, 2020 was unparalleled from any vantage point. Beyond the onset of a global pandemic early in the year, rates were already rising, capacity was being deployed much more acutely, and terms & conditions were being underwritten more vigorously as the…

Over 762,000 Pounds of Hot Pockets Recalled for Possible Glass, Plastic Contamination

Over 762,000 Pounds of Hot Pockets Recalled for Possible Glass, Plastic Contamination

Nestlé Prepared Foods recalled approximately 762,615 pounds of Hot Pockets this month due to concerns they possibly contain glass and hard plastic. The recall, announced by the U.S. Department of Agriculture\'s Food Safety and Inspection Service on January 15, followed four consumer complaints about extraneous materials inside the microwaveable filled pastry. One complaint reportedly involved an oral injury. The recall…

Mammoth Sinkhole Forces Hospital to Relocate COVID Patients

Mammoth Sinkhole Forces Hospital to Relocate COVID Patients

A mammoth sinkhole opened up in the visitors’ parking lot at Hospital of the Sea in Naples, Italy on January 8, consuming three cars and forcing the temporary closure of a nearby residence for recovering COVID-19 patients. Though the sinkhole measured a whopping 66 feet deep and 21,527 square feet across, no injuries were reported and six patients were relocated…

General Contractor Fined $25,000 for Sewage Spill

General Contractor Fined $25,000 for Sewage Spill

The Hawaii Department of Health issued a Notice and Finding of Violation and Order on January 7 against a contractor responsible for a sewage spill that sent 28,000 gallons of untreated domestic sewage into Reed’s Bay, just off the coast of the Big Island. The leak occurred on November 30, when workers for Maui-based Goodfellow Bros., LLC, a general contractor…

Nashville Bombing Prompts Insurance Concerns, Confusion

Nashville Bombing Prompts Insurance Concerns, Confusion

At least 45 businesses were da­­maged in the Christmas Day bombing in Nashville, Tennessee that decimated a block of downtown buildings. Local police and the Federal Bureau of Investigation (FBI) are still investigating why a 63-year-old Nashville area information technology consultant set off the explosion in his RV, killing himself and causing widespread destruction. The bomb was detonated near an…

2020 Insurance Timeline : A Perilous Year for Businesses, Individuals

2020 Insurance Timeline : A Perilous Year for Businesses, Individuals

By Crain’s Content Studio The coronavirus pandemic has rendered 2020 one of the most tumultuous years in modern history. A record-breaking hurricane season, civil unrest, digital insecurities and more have added to the risks faced by businesses and individuals over the past 12 months. Take a look back at some of 2020’s most significant headlines from the U.S. and Canada…

New Outdoor Dining Structures Could Put Restaurants at Risk

New Outdoor Dining Structures Could Put Restaurants at Risk

A brewery in Michigan recently opened several “craft beer shanties” where customers can be served outside while indoor dining is temporarily restricted statewide. The owner of Brass Ring Brewing in Alger Heights reportedly modeled the enclosed wooden structures after ice fishing shanties and said they can be reserved in 90-minute blocks by groups of four, as long as the guests…

Property & Casualty Market Overview: Q3 2020

Property & Casualty Market Overview: Q3 2020

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group The Property & Casualty (P&C) insurance marketplace continued its momentum from the first half of 2020 into the third quarter showing no signs of retreat. The Burns & Wilcox Q2 2020 Property & Casualty Market Overview was packed with information on overall market conditions, new capacity, consolidation,…

5 Tips for a Safer Holiday Season, Online and At Home

5 Tips for a Safer Holiday Season, Online and At Home

Cybersecurity experts are warning consumers about a new scam that capitalizes on the pandemic forcing many seasonal gift shops and pop-up markets to go virtual this year. In a scam alert issued on November 13, the Better Business Bureau said cybercriminals are using copycat shopping event sites and social media pages to charge admission and steal credit card data. In…

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