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Eye on Q3: Specialty Insurance Overview Thursday, July 17 at 1:30 PM ET Please join us for an outlook into the third quarter of 2021, with specific insights into Personal Property, Casualty, Commercial Property, and Construction. Featured Experts: Rich Gobler, Corporate Senior Vice President, Managing Director, Burns & Wilcox, San Francisco, CA Adrian Smith, Managing Director, Broker, Casualty, Burns &…

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group Following the release of our Burns & Wilcox Property & Casualty Market Overview and Forecast: Eye on 2021 report last quarter the already challenged Commercial and Personal insurance marketplace was greeted with yet another extraordinary event—Winter Storm Uri (February 13-17). The widespread impact resulted in over 170…

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…

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…

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…

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…

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…

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,…

As parents across the U.S. and Canada grapple with their children’s return to school amid a pandemic, “learning pods” have emerged as a potential solution to meeting kids’ academic and social needs while minimizing contact with large groups. Two mothers in Delaware County, Ohio recently launched Web Student Services, LLC, a learning pod startup that pairs certified teachers with limited…

This year has brought unprecedented challenges as the world copes with the COVID-19 pandemic; however, 2020 has also been a record-breaking year for extreme weather events: devastating wildfires, an especially active hurricane season, blackout-inducing heatwaves, a historic spate of tornadoes, a “firenado” and a 500-year flood. The U.S. recently hit its 10th billion-dollar weather disaster of the year earlier than ever before and the hurricane season is on pace to…

The former owner and manager of two apartment complexes in Washington, D.C. will pay $3.5 million to settle a tenant lawsuit alleging rat and bed bug infestations, sewage leaks, mold contamination and other hazards. The lawsuit, brought by the district’s attorney general in October 2018, also claimed the buildings’ hundreds of tenants were subjected to persistent violence, including multiple homicides…

Businesses around the world are experiencing the effects of the largest economic downturn since the 1940s. Some economists show the U.S. as having exited or nearly recovered from the recession that began in February, and Canada is showing signs of recovering from its deepest recession on record. Nevertheless, businesses continue to face numerous risks while shut down or operating at…