26 Feb

Posted at 19:41h in Property & Casualty White Papers by . .

February 2021's winter storm could be the costliest insurance event in TX history header While no firm number on insured losses has been released for the brutal weather system that has left dozens dead and millions without power or water, it is likely to cause billions in auto, property and homeowners claims, with one reported estimate at $18 billion.

Winter storms typically cause an average of $1.5 billion in property damage, according to the American Property Casualty Insurance Association (APCIA). That’s the average for ordinary years, but the subzero temperatures and precipitation striking much of the United States falls well outside the standard winter weather for some areas.

05 Feb

Posted at 22:08h in Property & Casualty White Papers by . .

Organizations trust their senior leaders to make important decisions and act with stakeholders’ (e.g., shareholders, customers and employees) best interests in mind.

However, in today’s climate of increased corporate accountability, protecting your senior leadership team from directors and officers (D&O) liability exposures can be a significant challenge—making D&O coverage a crucial aspect of your organization’s risk management program.    

05 Feb

Posted at 21:55h in Property & Casualty White Papers by . .

Coverage insights header image When underwriters evaluate a commercial building, they generally examine four specific characteristics— construction, occupancy, protection and exposure (COPE).

It’s not uncommon for insureds to overlook how the underlying construction of their buildings impacts their insurance. However, when it comes to property coverage, the construction class is critical and can affect rates and the overall insurability of the structure.      

07 Jan

Posted at 23:54h in Property & Casualty White Papers by . .
Coverage insights header image

These days, floods, earthquakes and similar catastrophes are common threats to a business’s property.

In fact, according to the Insurance Information Institute, natural disasters cause billions of dollars in property losses in the United States each year.

While commercial property insurance is an essential component of a business’s risk management portfolio, it can exclude coverage for floods and earthquakes. To address potential gaps in coverage, many businesses secure difference-in-conditions (DIC) insurance. This Coverage Insights provides an overview of DIC insurance, including what it is and what types of businesses can benefit from such a policy.