Burns and Wilcox News

Tag: commercial

Commercial Marine Insurance: Comparing Cruise Ships to Local Ferries

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…

Protection Beyond the Helmet and Pads

Specialized insurance, classified as Accident and Health Sports Coverage, is available for the thousands of organizations and individuals that make up the sports industry. The most common type of coverage, Personal Accident, includes Accidental Death and Dismemberment, Permanent Total Disability (such as a career-ending injury), Accidental Medical Expenses, Temporary Total Disability (a form of income…

Surplus Growth: E&S in 2015

Despite the challenges of a softening market and potentially shrinking profit margins, the excess and surplus lines market is expected to continue its impressive growth this year- with a key role for producers. The emergent excess and supplies lines industry again outpaced growth in the standard property/casualty insurance market in 2013, bringing in an 8.4%…

Excess and surplus lines market stabilizes on growing economy, rising demand

SAN DIEGO — Excess and surplus lines insurers are enjoying a respite in a turbulent marketplace as a growing economy and rising demand for their services balance the market’s increased competitiveness. Several E&S insurer executives say this year’s market is showing increased price stability. One stabilizing factor has been the retreat of standard lines insurers…

Policies Must Keep Pace with Investments

Alternative investment categories continue to be popular among high-net-worth investors who are already well-diversified in their traditional financial portfolios and are now seeking long term appreciation for tangible assets. As a result, interest in jewelry and fine art collection has grown steadily in recent years and savvy collectors have been able to realize greater returns…

Extreme Entertainment – Extreme Risk!

Millennials are quickly becoming one of the most prominent generations in the workplace. Focused on findings jobs that provide “meaning” and a stimulating company culture, they are constantly looking for workplace environments where they can bond with colleagues and impact the lives of others. Smart companies know that in order to keep this generation engaged they…

Harbormaster dismissed from lawsuit over teen’s electrocution death at Traverse City marina

The Michigan Court of Appeals has dismissed a Traverse City harbormaster from a lawsuit over an 18-year-old’s electrocution and drowning death at a city marina. The lawsuit accused Barry Smith, the harbormaster, as well as the city, the marina, Robert Cole, the former department of public services director, and engineering and electric companies of negligence.

Risk Below the Surface

Transporting materials is a complex process involving numerous parties with competing interests and responsibilities. Global in scope, modern supply chains are fraught with risk as freight forwarders work with cargo carriers to ensure products are transported safely and efficiently from point A to point B, crossing borders and great distances by land, air and sea….