There is no one answer to the overall insurance industry’s place within its cyclical path. Each product line needs to be looked at individually, according to Robert Berkley, CEO of W.R. Berkley Corp. “Once upon a time, most P/C product …
New York’s highest court reversed a $4.5 million judgment against an insurer that denied a fire damage claim by the owner of a vacant commercial building because the owner had not installed an automatic sprinkler system required by the policy. …
The US Supreme Court decided Monday that it will not hear an appeal of a decision that denied coverage for losses caused by COVID-19 shutdown orders, effectively closing the last door for such claims in the federal court system. The …
A new report estimates that U.S. businesses could spend about $13.5 billion in 2022 to repair or replace flood-damaged commercial buildings. The same report finds that businesses could lose more than 3.1 million days of operation from flooding next year. …
San Francisco-based Foresight Risk & Insurance Services is offering new commercial property insurance lines coverages including inland marine, contractors equipment and builders’ risk, which will be offered as a complement to workers’ compensation. Foresight describes itself as a disruptive commercial …
Some commercial property owners whose businesses were torched by rioters are learning that they don’t have enough insurance to clear away the debris. The StarTribune newspaper reported that many property owners in the Minneapolis-St. Paul area purchased policies that limit …
The Insurance Council of Texas has reported several insurance bills of interest are moving in the Texas Legislature as the end of the session draws closer. SB 590/HB 1411, which addresses amendments, cancellations and renewal provisions in commercial property insurance …
Multiple fire crews are responding to a blaze that has badly damaged businesses in Guthrie, north of Oklahoma City. Firefighters battled to contain a structure fire Saturday afternoon after officials say it consumed two businesses that sold flowers and musical …
I am very much like other people in that I like to take time off during the holiday season. It’s a time for me to rest, relax, refresh, and reflect. OK. Who am I kidding? You know what happens during …
Exclusions. Insurance policies are full of them. I’ve been reading some policy forms lately. Some to study, others because they’re interesting to me. It’s kind of a sick hobby, I’ll admit, but it’s not hurting anyone and I’m not asking …
