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Market Insights

Adopting New Liability Risk-Mitigation Approach to Stem Mega Verdicts

Our litigious environment has been exacerbated over the last several years due to several factors including the rise of nuclear liability verdicts that run into the tens and even hundreds of millions of dollars. Contributing to these mega verdicts is anti-business sentiment and corporate mistrust by jurors. Juries feel more sympathetic toward injured plaintiffs and…

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Why Participate In/Host Webinars

Before COVID was part of our vernacular and impacting our everyday lives, including the move to remote work, learning, conferences, and events, webinars already played a pivotal role in the insurance industry. Now, in a world still struggling to combat coronavirus, they have become even more relevant.

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COVID Construction Spike Leads to Lumber Shortages

In March of 2020, American lumber mills curtailed operations, citing both employee health and safety concerns and an expected plunge in demand. As months-long quarantines kept Americans locked in their homes, however, home improvement projects and renovations skyrocketed. The failure of lumber producers to foresee this increased demand for construction supplies has led to widespread…

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In the Weeds on the State of Cannabis

Marijuana laws are changing at a rapid pace across the country. Since 2012, 15 states and Washington, DC have legalized marijuana for adults over the age of 21. In total, 43 states have legalized medicinal or recreational use of marijuana. New Jersey, Arizona, Montana, and South Dakota in their November elections are the most recent…

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2021 Insurance Market Insights: Part 2

In our previous article, we provided an overview of the hard insurance market cycle and what to expect in 2021. Here we will dive deeper into how COVID-19 is influencing the hard market in certain coverage lines.

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2021 Insurance Market Insights: Part 1

There has been a flurry of industry data released over the last month with all indicators pointing to an ongoing hard insurance market across all lines for all-sized businesses as insurers continue to address profitability issues as a result of rate inadequacy and increasing losses. Even Workers’ Compensation insurance, which has remained flat while other…

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The Future: Usage-Based Premiums and Smart Homes

Usage-based technology has been utilized for some time with auto insurance to track mileage and driving behaviors. You drive fewer than a certain number of miles and safely (no speeding, distracted driving, etc.), you get the benefit of premium discounts. Usage-based insurance (UBI) in this case is typically powered by in-vehicle telecommunication devices (telematics)—technology using…

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Pandemic Adds to Potential D&O Risks

A recent report by Fitch Ratings indicates that among the insurance lines most impacted by potential COVID-19 losses are Directors and Officers (D&O) Liability, Employment Practices Liability (EPL), and Errors and Omissions (E&O) where allegations of negligence tied to poor loss prevention or preparation for a pandemic are possible.

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Insurance Branding: Tips for Brokers

Building a brand is a powerful way to gain an edge over your competition. Your brand helps to establish why people should do business with or pay attention to you over someone else in your industry. And creating a successful brand doesn’t happen overnight. Extensive advertising and expansive marketing budgets are the norms among major…

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How Climate Change Impacts Severe Weather and Role of Insurers

Although it’s hard to pinpoint whether climate change intensified a particular weather event, the trajectory is clear — we’re experiencing hotter heat waves, drier droughts, and bigger storm surges – with scientists detecting a strong link between the planet’s warming and its changing weather patterns. With record-setting temperatures year after year, it’s likely that global…

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