Intel

Inside This Article: Nuclear verdicts, or those exceeding $10 million, reached a 15-year high in 2023, a recent study indicates. Thermonuclear verdicts, or jury awards of $100 million or more, are also on the rise, especially in the Transportation sector. Litigation costs continue to rise, exposing businesses to losses that can exceed standard insurance policy limits. Many companies need…

Inside This Article: A Southern California store and warehouse were recently targeted by thieves in separate incidents that involved $37,000 worth of Labubu dolls. Businesses that hold high-value or collectible inventory may be at higher risk for theft. The incidents highlight the importance of theft coverage under Commercial Property Insurance — a protection that is not included in all policies. …

Key Takeaways: Property & Casualty (P&C) market conditions are stabilizing, with increased competition and moderating rates—though CAT-prone regions remain volatile. Excess & Surplus (E&S) carriers remain vital for distressed sectors like Habitational, Hospitality, and Liquor Liability, even as admitted carriers return to select segments. Severe weather is reshaping risk, as seen in recent Texas flooding and California wildfires earlier…

Inside this article: A semi-truck carrying an estimated 70,000 pounds of beehives overturned in Whatcom County, Washington, releasing around 14 million bees into the surrounding area. More than two dozen beekeepers rushed to assist with the recovery of 300 hive boxes from the overturned truck. The incident demonstrates the unique risks associated with transporting livestock, which is often excluded…

Key Takeaways: Rates are beginning to stabilize or even decline in some non-CAT areas. Market capacity remains healthy, particularly in non-admitted spaces, although often through layered placements, which are becoming more common. Carriers are increasing reliance on exclusions and higher deductibles to manage risk. Wildfire and convective storm risks are driving significant change in both Personal and Commercial Insurance.…

Inside This Article: Cargo theft surged 27% between 2023 and 2024—which regions were hit hardest.  The high-value and everyday goods criminals are targeting in record numbers. The rise of strategic cargo theft—how criminals use fake identities and deception to steal entire shipments. Why Motor Truck Cargo Insurance is more critical than ever for shippers and carriers. Smarter security strategies…

OVERVIEW California Wildfires While this report highlights the growth in E&S policies and other trends in the Property & Casualty (P&C) sector as we enter 2025, we must first address the devastating wildfires in southern California, which have significantly impacted the industry and local communities. Current estimates suggest these wildfires have caused $25…

A transportation company based in Illinois is being sued for $5.3 million following a devastating accident in which one of its freight trucks reportedly rear-ended a party bus, resulting in the tragic loss of three passengers and injuries to 20 others. In the lawsuit, Triton Logistics, its owner, the driver, and several related companies are accused of negligence and acting…

The trucking industry is navigating a complex landscape, from jurisdictional challenges to rising operational costs. In our latest webinar, experts from our Transportation Practice Group explored the most pressing issues facing Transportation Insurance today. Watch now to gain valuable insights into coverage, pricing, and claims, along with practical tips for brokers and agents to stay ahead of industry changes and…

Last quarter, we indicated the Property & Casualty (P&C) market had reached a relative level of equilibrium not seen in several years. We defined this as an environment where rates and capacity were relatively stable, and carriers could be profitable. The gradual and consistent shift in business from the admitted to the Excess & Surplus (E&S) market is a transformation…

A boat fire spread through a marina on the Mohawk River in Alplaus, New York, after a docked pontoon boat ignited, Authorities are still investigating the cause of the Aug. 13 blaze, which destroyed several boats at the Mohawk Valley marina and damaged other vessels, News10 reported. “It is certainly an unfortunate situation,” said Michael Dearness Associate Manager, Ocean Marine,…

The term “equilibrium” is increasingly being used within insurance circles to describe certain sectors moving toward a state of balance in terms of rates versus supply, terms and conditions. It suggests a growing opinion among industry leaders that Property and Casualty (P&C) is largely in a healthy place. This is true even after a decade-long period characterized by costly CAT…