Intel

Inside This Article: Cleanup crews responding to an underground storage tank leak in Woodstock, Ontario, have now recovered approximately 180,000 liters of diesel, exceeding earlier estimates. In addition to businesses that were impacted by the leak, area residents have expressed concerns about groundwater safety and potentially reduced property values. The disaster underscores the importance of Environmental Insurance policies such as…

Inside This Article: Hazmat crews responded to a chemical spill in a Virginia Commonwealth University laboratory. The June 24 incident led to an evacuation of Oliver Hall. Accidental chemical releases are a serious safety concern at universities and other institutions, potentially causing injuries to the public. Pollution Legal Liability (PLL) Insurance can help cover cleanup costs, regulatory fines, and…

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: Moderna is suing a construction firm for $10 million because of alleged defective work resulting in extensive water leaks, mold and structural damage. The lawsuit claims construction firm The Gutierrez Co. failed in the “design and construction” of the building’s core and shell, causing multiple issues. Non-weather-related water damage is a common issue for commercial properties,…

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: Recently released government emails show the massive scale of a December leak from a gas station’s underground storage tank, with an estimated 100,000 liters of diesel fuel released into the environment. Groundwater contamination impacted surrounding properties including a Tim Hortons cafe, where customers said they could smell fuel in the bathrooms and even taste it in…

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…

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…

While we are experiencing more stabilization, some hard sectors remain as carriers continue to revise their appetites. Watch our P&C webinar for insights into the current state of the market, what is expected for the rest of the year and what 2025 may hold. Highlights include: The increasing role of dynamic pricing in Personal Insurance Why some admitted carriers are…

Whatcom County road in Lynden, Washington, was stained bright red the evening of July 10 when about 100 trays of raspberries from Enfield Farms spilled from a truck. An entire lane was blocked for nearly two hours while locals jumped in to help with the cleanup. Not only did state troopers cite the truck driver for…

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…

When a fish tanker truck carrying more than 102,000 live salmon overturned on a sharp corner in northeast Oregon recently, a majority of the smolts — about 77,000 — made it into the adjacent Lookingglass Creek, according to reports. The truck had been transporting the fish from a hatchery for release in the Imnaha River, but rolled onto its side…