After holding relatively steady for nearly a decade, the number of business liability policy claims cases jumped 28% in 2023, according to a litigation report from Lex Machina. The report found that 3,596 business liability cases covering third-party claims regarding …
Demand for technology-related products such as computer chips, semiconductors, electric vehicle batteries and embedded software is rapidly increasing in today’s tech-driven society, which is in turn increasing demand — and opportunities — for manufacturers. But as manufacturers strive to meet …
Uber can require that a passenger seriously injured in a crash involving an Uber driver go to arbitration over his $63 million damages claim without a trial, the highest court in Massachusetts recently ruled, overturning a lower court. The Massachusetts …
How are insurers viewing the solar and renewable energy markets? While large risks likely have no problem, smaller to middle risks may face difficulty. “I certainly think there’s a gap in the smaller risk area,” said Loren Henry, vice president, …
A new Rhode Island law prohibits auto insurers from charging policyholders more solely because they have been widowed. The new law bans insurers from treating widows or widowers any differently than married people in terms of classification or rates beginning …
From increased wildfires to flooding to wind and hail and hurricanes, the risks and resulting losses from climate change grow each year. While 2023 was the hottest year on record, 2024 is shaping up to beat that placeholder. According to …
There’s a lack of “green” design specialization but that’s OK, says Kevin Collins, A&E Professional Liability Practice Leader, at Victor. “It’s pretty easy to get coverage for firms that are involved in green design,” Collins said. “It’s easy to place …
The strategic application of data analytics has become a cornerstone of success in the insurance industry. Data analytics and predictive modeling offer insurance entities a powerful means to identify profitable market segments, optimize pricing strategies, and refine marketing efforts. Here …
Most of our agency clients tell us they have a hard time finding producers. They want to know where to look and how to bring them in. It is not an easy task to find someone, especially a producer from …
Rising interest rates have clipped the bloom from the rose in terms of sky-high sales multiples for many agency sales transactions. Despite continued strong demand for acquisitions, buyers are simply constrained by prime rates above 8%. Unfortunately, after two decades …
