The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business owners policy property coverage limits will also …
Because its application question about how many apartments were in a New York building was considered ambiguous, an insurer has lost its bid to deny a commercial property insurance claim and rescind the policy. The Second Circuit Court of Appeals …
Commercial property insurance, with double-digit first quarter price increases, led other lines of businesses tracked by WTW’s Commercial Lines Pricing Survey (CLIPS). CLIPS found the aggregate price change for U.S. commercial insurance was up 5.6% for the first three months …
In recent weeks, executives of brokers and carriers have been delivering mixed messages about conditions in the commercial insurance market. “The long curve, the larger trend, is bending in a positive direction for buyers.” John Drummond, head of Broking, North …
The owner of a Philadelphia building that caught fire and collapsed last summer, killing a city firefighter and injuring five other people, has been indicted along with another man on charges they set the blaze, federal prosecutors announced Wednesday. Al-Ashraf …
California Insurance Commissioner Ricardo Lara and the California FAIR Plan Association agreed to more than double its existing commercial coverage limits to $20 million for businesses unable to find coverage in the normal insurance marketplace. Lara and the FAIR Plan …
WEST READING, Pa. (AP) – All seven bodies have been recovered from the site of a powerful explosion at a chocolate factory in a small town in eastern Pennsylvania, officials said. West Reading Mayor Samantha Kaag said in a statement …
“Stabilization” and “moderation” continued to be the operative words for premium increases in the commercial property/casualty market, but many clients remain concerned about future hikes, according to the newest survey from The Council of Insurance Agents & Brokers. Overall, premiums …
A Samsung Electronics Co. semiconductor plant in Texas sued its insurer over $400 million in damage claims tied to a power blackout during a deadly winter storm in 2021. The federal lawsuit filed Monday against Factory Mutual Insurance Co. said …
Insurance brokerage USI is forecasting that half of 32 commercial insurance product lines analyzed will experience softer pricing in the first half of 2023—including a predicted “buyer’s market” for directors and officers liability with some caveats. Comparing USI’s forecasts for …
