Latest Liability Headlines
All the headlines from our Liability Topic Page, ordered by recency.
Extreme Weather, Cyber Risks Top Concerns When Insuring Farms
Feb 19 2024 // As risks from extreme weather, technology glitches and cyberattacks rise, so does the need for agricultural insurance that can cover a rapidly diversifying and evolving industry. “With the interest rates, production...
Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Feb 15 2024 // Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a...
Continued Growth for Surplus Lines in 2023 as Premiums Up 14.6%
Feb 14 2024 // The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines office release by the Wholesale & Specialty Insurance Association...
Citing Immunity Law, Judge Tosses Body Parts Theft Claims Against Harvard
Feb 13 2024 // A Massachusetts Superior Court judge has dismissed negligence, infliction of emotional distress and other claims against Harvard and the operators of its medical school’s anatomical gift program by relatives of...
SiriusPoint Enters Strategic Partnership With MGU Ryan Specialty Nordics
Feb 13 2024 // SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Stockholm-based managing general underwriter Ryan Specialty Nordics AB, have announced a new strategic trading partnership. SiriusPoint will support...
Prime Insurance Avoids $60M Judgment in Liposuction Death Case in Georgia
Feb 12 2024 // Prime Insurance Co. is not liable for $60 million in damages after two patients died following liposuction at a Georgia clinic, thanks in part to the clear wording of the insurance policy and timely action by the insurer,...
Texas Got Early Warnings About Costly Grid Policy, Records Show
Feb 7 2024 // Texas grid officials received repeated warnings last summer that their efforts to shore up the state’s increasingly strained electric grid risked driving up power prices, records show. Concerns first arose just days...
Markets/Coverages: Upland Starts Pro Liability E&O, Excess Cyber
Feb 7 2024 // Upland Capital Group said it has introduced two new liability products to its portfolio: Professional Liability Errors and Omissions as well as Excess Cyber Liability. The professional liability team is led by Kate Walas,...
People Moves: Burns & Wilcox Names Wood Head of Professional Liability Practice; Ryan Specialty Promotes Jankovic to Chief Audit and SOX Officer
Feb 6 2024 // Burns & Wilcox Names Wood Head of Professional Liability Practice Burns & Wilcox, headquartered in Farmington Hills, Mich., hired Andy Wood as vice president and practice group leader, professional liability. Most...
Hard Market Prices Continue
Feb 5 2024 // While not news to independent agents, commercial lines renewal rates rose again in the fourth quarter of 2023 — another sign that the hard market is here to stay — at least through 2024. According to the Ivans...
South Carolina Liquor Liability Market ‘Extremely Unprofitable,’ DOI Report Says
Feb 5 2024 // A report from the South Carolina Department of Insurance confirms what insurers and bars and restaurants have said for the past few years: Liquor liability coverage in the state is “extremely unprofitable” for...
Weekly Q4 2023 Earnings Wrap: The Hartford, The Hanover, Markel, and Selective
Feb 2 2024 // The Hartford said fourth quarter net income available to common stockholders increased 30% to $766 million. The insurer ended the year with net income up 38% to about $2.5 billion. Commercial lines record fourth quarter...
COVID Liability Immunity Includes Slips and Falls at Hospital – Alabama High Court
Jan 29 2024 // When the COVID-19 virus spread across the country three years ago, dozens of state legislatures approved statutes that granted health care providers immunity from legal actions brought by people who claimed to have been...
Specialty Market ‘Particularly Attractive’; Reason to Pause Elsewhere: Berkley CEO
Jan 25 2024 // W.R. Berkley CEO W. Robert Berkley, Jr. said he’s still got eyes on the specialty market, but maintains a cautious, more disciplined outlook on some lines of business, such as professional liability—especially...
Risk Strategies Acquires Medical Liability Agency in Virginia
Jan 25 2024 // National specialty insurance brokerage Risk Strategies announced it has acquired Professional Risk Associates, Inc. (PRA), a Virginia-based specialty healthcare insurance agency focused on medical professional...
Markets/Coverages: MGA Sands Point Risk Launches With Transaction Liability Practice
Jan 24 2024 // Sands Point Risk, a new managing general agent to be led by the founder of transaction risk solutions at DUAL, has been launched to serve the transaction liability insurance (TLI) sector. Dennis Kearns, who founded the...
Compared to Prior Quarter, All Commercial Lines Saw Renewal Rate Up in Q4: Ivans
Jan 24 2024 // Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last...
Markets/Coverages: CFC Launches Embedded Transaction Liability Insurance Product
Jan 23 2024 // Specialty insurance provider CFC has launched what it is calling the first ever transaction liability insurance product to be embedded into online M&A platforms in the USA. CFC is initially making its Seller Protect...
Markets/Coverages: Liberty Mutual Launches New Management Liability Package
Jan 22 2024 // Liberty Mutual recently announced ProShield, a packaged solution providing private companies and non-profits streamlined access to directors & officers, employment practices liability, fiduciary, and crime...
Illinois Supreme Court Applies ‘RTFP!’ Principle to Faulty Workmanship Claims
Jan 22 2024 // As reported by attorney Randy Maniloff in his Coverage Opinions newsletter, the Illinois Supreme Court has finally addressed coverage for construction defects, joining what is probably a slight majority of legal...
