Double victory for Team Burns & Wilcox with Jimmy Walker tied in second FARMINGTON HILLS, MICH. (May 16, 2018) – Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager, congratulates Webb Simpson on winning the 2018 Players Championship at TPC Sawgrass in Florida, and Jimmy Walker on his second-place finish Sunday. The…
DETROIT (February 27, 2018) – Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager, today announced its official sponsorship of Justin Abdelkader, alternate captain and left wing of the 11-time Stanley Cup Champion Detroit Red Wings. “Justin Abdelkader’s leadership on and off the ice match the distinctive, competitive qualities of the more…
The cruise ship industry sees nearly $38 billion in revenue annually around the world, with more than $15 billion invested into new cruise ships. Ferries, cruise ships, and other passenger vessels are a much different exposure than cargo ships that carry dry cargo, not people. Accidents and catastrophic mechanical failures with passenger vessels often result…
Farmington Hills, Mich. (July 19, 2017) – Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager, officially announced today that it will extend and expand their golf sponsorship deal with 2012 U.S. Open winner Webb Simpson. Simpson’s expanded sponsorship with Burns & Wilcox will kick off this week during The 146th Open at Royal…
Farmington Hills, Mich. (January 31, 2017) – H.W. Kaufman Financial Group and Burns & Wilcox Canada announced today they have acquired the high-value homeowner’s insurance practice from Quebec-based XN Financial Services, Inc. (XN). XN is a subsidiary of The Henner Group, one of France’s leading insurance specialists offering solutions for individuals and companies. XN is…
Farmington Hills, Mich. (December 1, 2015) – Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager, today announced its official sponsorship of American professional golfer Jimmy Walker, effective January 1, 2016. Walker, who is currently on the PGA Tour and is ranked 22nd in the world, has a long track record of…
E&S expertise and relationships are key to accessing opportunities in the busy rental property market. The recession’s effects continue to linger in the homeowners market, even as the overall economy slowly but surely rebounds. The percentage of homeowners in the U.S. has fallen to 65 percent, down from 69 percent in 2006.
To adequately insure one’s condo apartment, it is important to review the condo association’s bylaws and proprietary lease to find out which structural parts of the condo units are covered by the association and which are not, the Insurance Information Institute advises.
The personal marine market is flourishing. As the general economy continues to improve, insureds are making more purchases in discretionary areas, including boats. “We’ve seen an uptick in the boat market and the price of boats is starting to go back up again,” says Bill Gatewood, corporate vice president and director of personal insurance for Burns &…
The nautical know-how you need to make marine a lucrative part of your business. With spring upon us, the thoughts of many who live in America’s colder climes turn to the water, and in particular, to boating. In 2013, some 88.5 million of the 242 million adults living in the United States — about 37 percent…
As winter transitions into spring, your boating clients will be itching to get back on the water for days full of fishing, swimming and water sports. Help them make the most of the season by ensuring they have the right coverages in place. Whether your insureds own a small, personal watercraft, or a yacht or…
The challenges facing homeowners in areas of high risk for wildfires. For many homeowners in the western part of the country, the threat of wildfire is an ever present risk. Heat, drought, lightning and wind create the perfect conditions to spark a blaze that can threaten homes, destroy property and in extreme cases, consume tens of thousands of acres.
Even the savviest insurance professional can face challenges when dealing with their client’s hard-to-place risks. The housing market is no exception and many brokers are finding that homes are falling outside of the standard insurance market appetite due to a number of unique exposures. As a result, these homes are qualified as hard-to-place and brokers are…
It is no secret that horse racing is an elite business, attracting some of the wealthiest families in the world into its circle of owners. Each has a significant amount of money and livelihood invested in their respective horses. It is for this reason that a handful of insurance companies have stepped in to insure the…
At last month’s Kentucky Derby, 18 horses competed for a $2 million guaranteed purse, with an estimated $50 million in wagers being placed. But those values are dwarfed by the amount of insurance out on the track. To put it into perspective, Ken Rice, Underwriting Director at Atain Insurance Companies, approximates the insured value. “Assuming a…
Agents and brokers are risk managers, and we must spend ample time gaining a full understanding of all our clients’ needs—it’s the best way to build a large, stable book of loyal customers, and it’s simply good customer service. The “15 minutes” phenomenon threatens the quality of the coverage we provide and creates a large…
With the market supporting only minimal rate increases, agents are looking to grow revenue by capitalizing on strong carrier appetite and opportunity in new market segments. If it can be said that a critical step on the road to success is adjusting one’s own expectations, Dan Wolfgram, executive vice president in Personal lines, marketing and…
A volatile economy, coupled with technology advancements and the sustained success of e-commerce and social media, has caused a dramatic shift in the landscape of wealth in the U.S.. Within this new landscape, affluent clients are no longer a niche group of people with a net worth of more than $50m. This shift has a…
Finding coverage to protect high-net-worth clients from damaging household hiring mistakes Sometimes all it takes is one good reference for a high net worth household to hire an employee who, it turns out, is not only less than qualified for the work, but also a potential threat to the family, its wealth and wellbeing. But…
Writing a cross-border property can be a complicated matter if a broker lacks the knowledge, experience, and available markets to service it. The broker might try to convince a Canadian insurer to take on the American residence; they might approach the surplus lines market; or they might seek out a U.S. insurance agent in the…
Receive the latest industry news from Insurance Market Source
