Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium increase across all account sizes was was 8.1% in Q3 …
An ambiguous “extra expense” provision in a commercial property insurance policy requires the insurer to pay for new equipment that a grocery store and delicatessen needed for a new location after its former home burned down, the Nebraska Supreme Court …
A hotel was among several businesses damaged as a fire swept through part of the downtown of a northern Oakland County, Michigan, village. Dozens of firefighters from area departments battled the blaze which started about 4 p.m. Tuesday in Holly, …
A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business – except for cyber. The cyber insurance market “continued to correct” during the first half 2022, …
The power was still off in Texas last month when rating agencies began predicting that the weather-related catastrophe would cause unprecedented losses for insurance companies. On February 19, rating agency A.M. Best forecast that insurance companies “could suffer record first-quarter …
Springtime storms caused significant damage to buildings in a central Texas city, and forecasters say more stormy weather is expected later in the week for parts of the southern U.S. There were no immediate reports of injuries from Monday night’s …
It’s likely that insured losses in Texas from Winter Storm Uri, which overwhelmed the state in mid-February, will climb into the $10 billion to $20 billion range, according to catastrophe modelers and insurance industry market analysts. Losses from Uri may …
The massive winter storm that barreled through the mid-section of the United States and across the South in mid-February, hitting Texas particularly hard, will generate billions in insured losses, according to commentary by Moody’s Investors Services. The storm, which has …
Temporary extra fencing has been erected around the White House, plywood affixed to storefronts in Manhattan and the National Guard put on notice in Portland, Oregon, as U.S. cities braced for possible unrest on election day. “We don’t see specific …
This time last year, shoppers on Chicago’s Magnificent Mile were waiting for Louis Vuitton to debut its whimsical holiday window decorations. Now those same windows are hidden behind a wall of wood panels painted bright orange. While still open for …
