Intel

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 Architecture firm Cooper Carry is being sued by the owner of a Hilton hotel project for delays that reportedly led to $26 million in additional costs. When facing litigation, architects may incur significant defense costs and rectification expenses, in addition to reputational damage. Lawsuits against design professionals can be covered by Architects & Engineers Professional Liability…

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…

The Indianapolis Public Transportation Corporation recently filed a lawsuit against Dallas-based architectural firm AECOM over construction plans that it claims were \"inadequate, inaccurate and defective.\" According to Fox59 News, the lawsuit alleges the architect responsible for the Julia M. Carson Transit Center in downtown Indianapolis did not properly account for the project’s archaeological work, only setting aside five days for…

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 hospital in Pennsylvania recently agreed to pay $65 million to settle a class-action lawsuit over a 2023 cyberattack that exposed the personal data of approximately 135,000 individuals, including sensitive photos of more than 600 patients. Patients and employees affected will receive between $50 to $70,000 each; patients whose photos were leaked online will receive the larger amounts, Insurance Journal…

The global Microsoft outage that grounded flights, canceled nonessential surgeries and halted operations for countless businesses could exceed $1 billion in insured losses, according to reports. The technology outage, which began July 19 after a faulty software update by CrowdStrike shut down 8.5 million Windows computers around the world, left many large and small companies unable to function — and…

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…

More than five years after the death of Grumpy Cat, the internet-famous cat known for its disgruntled-looking expression, the company that owns its image and likeness continues to confront alleged trademark violations from other entities using the pet’s face for profit. According to a recent report from Courthouse News Service, Grumpy Cat Limited has filed more than 50 trademark lawsuits…

A woman who was assaulted in her apartment after a stranger broke in through the unit\'s back sliding door is suing the housing complex for over $1 million, claiming the attack could have been prevented if the broken back door lock had been fixed when she and her roommate first reported it. The Austin, Texas, woman filed the lawsuit against…

More companies in the U.S. and Canada are incorporating the use of biometric data into their operations, raising unease for some consumers, and prompting a number of class-action lawsuits over information that may be collected improperly. Airports are among the latest industries to join the trend, with CBC News recently reporting on airlines like Air Canada and various airports implementing…

The engineer allegedly responsible for a partial building collapse in the Bronx in December has had their license suspended for two years by the city of New York and faces a $10,000 fine, according to reports. No one was injured but dozens of families lost their homes after the collapse of the seven-story apartment building, part of which was under…