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Property & Casualty Report: Q4 2021 Market Overview & Q1 2022 Forecast

Property & Casualty Report: Q4 2021 Market Overview & Q1 2022 Forecast

The last two years have been among the most uncertain the world has ever experienced by any standard. The Excess and Surplus (E&S) Lines insurance marketplace has stepped up to meet the challenge experiencing strong growth and perseverance in the face of a global pandemic, extraordinary natural catastrophes, increasing cyber-attacks, excessive jury verdicts, supply chain disruptions, political unrest, labor shortages…

QVC, Amazon Warehouse Disasters Underscore Risks at Large Facilities

QVC, Amazon Warehouse Disasters Underscore Risks at Large Facilities

A massive fire at a QVC warehouse in Rocky Mount, North Carolina, on Dec. 19 destroyed 75% of the 1.5 million-square-foot facility and killed one worker, according to news reports. The five-alarm blaze rendered the site inoperable and has reportedly prompted the company, a major employer in the area, to plan to lay off all of its more than 1,900…

6 New Year’s Resolutions to Reduce Your Risks in 2022

6 New Year’s Resolutions to Reduce Your Risks in 2022

Have you made your New Year’s resolutions? About 44% of adults surveyed in a recent Medifast poll said they planned to set a resolution for 2022, compared to 50% in 2021. Top resolutions for the new year include financial health, holistic health and wellness, and focusing on self-care or body positivity, the survey found. While not everyone will make a…

Laptop Charging on Bed Ignites Apartment Fire in Northwest Austin

Laptop Charging on Bed Ignites Apartment Fire in Northwest Austin

A bedroom fire at an apartment complex in northwest Austin, Texas, on Nov. 4 was reportedly caused by a laptop left charging on a bed. The blaze, which displaced one resident but caused no injuries, was extinguished by a sprinkler system and caused an estimated $8,000 in property damage, CBS Austin reported. Just days later in the same city, a…

Property & Casualty 2021 Q3 Market Overview & Q4 Forecast

Property & Casualty 2021 Q3 Market Overview & Q4 Forecast

By Paul G. Smith, Corporate Senior Vice President, Carrier Relations, H.W. Kaufman Group We are pleased to share our third quarter Property & Casualty Market Overview and Forecast, prepared immediately following industry conferences and meetings that are clear bellwethers of what to anticipate. September, as we know, is Reinsurance Month which sets the stage for pivotal year-end negotiations of January 1…

Navigating the Commercial Property Market

Navigating the Commercial Property Market

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

Commercial Property Insurance Market Overview

Commercial Property Insurance Market Overview

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…

Ask the Expert Q&A: Commercial Property Insurance

Ask the Expert Q&A: Commercial Property Insurance

Fire, water intrusion, and on-site accidents are among the common perils threatening commercial properties on a regular basis. To learn more about Commercial Property Insurance, Crain’s Content Studio spoke with Tyson Peel, Vice President and Director, Property & Casualty, Burns & Wilcox Canada, Toronto, Ontario. What are the greatest risks for commercial property owners today? T.P.: Fire damage, water damage,…

Restaurant Labor Shortages Strain Recovery Efforts, Escalate Risks

Restaurant Labor Shortages Strain Recovery Efforts, Escalate Risks

Despite moderately increased sales and rising consumer confidence in the safety of dining out, restaurants in the U.S. and Canada are still facing a major hurdle in their efforts to reopen: they do not have enough workers. Restaurants employed 1.5 million fewer workers in May of this year compared to pre-pandemic levels, TIME magazine recently reported, and one survey found…

Property & Casualty 2021 Q1 Market Overview & Q2 Forecast

Property & Casualty 2021 Q1 Market Overview & Q2 Forecast

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…

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…

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…

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