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Construction Site Fire Damages Four Buildings In Seattle

Construction Site Fire Damages Four Buildings In Seattle

Crews worked to put out a three-alarm fire that heavily damaged four buildings in Seattle’s north Beacon Hill neighborhood early Thursday. Seattle fire said the fire alarm center received a call about a fire at a new construction site at 5:42 a.m.
August 21, 2020 Excess & Surplus Lines Property Washington

Rural Missouri Bridge Collapses Under Overweight Semi

Rural Missouri Bridge Collapses Under Overweight Semi

A bridge near Westphalia collapsed Monday after a semi-trailer attempted to cross. The Pentecostal Bridge, which takes County Road 611 across the Maries River, had a 5-ton weight limit, Osage County Sheriff Micahel Bonham said.
August 18, 2020 Excess & Surplus Lines Missouri

Looming Cyber Risk: Biometric Data And Class Action Lawsuits

Looming Cyber Risk: Biometric Data And Class Action Lawsuits

It’s one storm after another for the cyber insurance market. Five years ago, the biggest concern for cyber insurers was the protection and security of payment card industry (PCI) data.
August 17, 2020 Excess & Surplus Lines Litigation

Report: US Has The Highest Average Cost For Data Breaches

Report: US Has The Highest Average Cost For Data Breaches

More than 8.5 billion records were compromised in data breaches in the span of one year ending April 2020, and the average cost of a mega-sized data breach was $3.86 million, a new report by IBM has found.
July 31, 2020 Excess & Surplus Lines Technology

Train Derailment Causes Fire And Partial Bridge Collapse Near Tempe

Train Derailment Causes Fire And Partial Bridge Collapse Near Tempe

A train fire and derailment caused a partial collapse of a railroad bridge over Tempe Town Lake. The incident occurred around 6 a.m. Wednesday on the south side of the lake near Mill Avenue.
July 29, 2020 Excess & Surplus Lines Arizona

3 Dead After Small Plane Crashes In Utah Backyard

3 Dead After Small Plane Crashes In Utah Backyard

A small plane crashed in a suburban Salt Lake City neighborhood, killing at least three people, police said. The crash happened Saturday afternoon when a Piper PA-32 aircraft carrying six people crashed into a backyard in the city of West Jordan, Federal Aviation Administration spokesman Allen Kenitzer said.
July 27, 2020 Excess & Surplus Lines Utah

Why E-sports Could Be Insurance’s Next Big Opportunity

Why E-sports Could Be Insurance’s Next Big Opportunity

Opportunities for insurance in the e-sports space has grown to a point where it can’t be ignored, says an industry observer. Video gaming is at an all-time high during the COVID-19 pandemic, according to information collected by data and measurement firm Neilsen.
July 16, 2020 Excess & Surplus Lines

Hacking Attacks On Hospitals For Patient Data Increase During Pandemic

Hacking Attacks On Hospitals For Patient Data Increase During Pandemic

On the day before the July 4 holiday weekend, Mount Auburn Hospital’s information technology team identified some unusual activity. Alarmed, they quickly took steps to disconnect the Cambridge hospital’s computer system from the internet.
July 15, 2020 Excess & Surplus Lines Fraud Technology

Harvey Weinstein Accusers Fear Insurers Could Be Shielded From Big Payouts

Harvey Weinstein Accusers Fear Insurers Could Be Shielded From Big Payouts

Several women who claim they were sexually abused by disgraced film producer Harvey Weinstein are pleading with a US judge to reject an $18.9 million settlement with the former entertainment mogul, fearing that the deal would prevent the defendants’ insurers from making bigger payouts.
July 14, 2020 Excess & Surplus Lines Liability Litigation New York

Tanker Rolls Into Salt Lake City Backyard, Spills Oil

Tanker Rolls Into Salt Lake City Backyard, Spills Oil

It will take several days to clean up a big mess left behind by a runaway tanker that ended up in a resident’s backyard. But Salt Lake fire officials say they are very grateful no one was injured in the Wednesday morning incident.
July 10, 2020 Excess & Surplus Lines Utah

Two Small Planes Crash And Sink In Idaho Lake

Two Small Planes Crash And Sink In Idaho Lake

The Kootenai County Sheriff’s Office confirmed two people died in a plane collision over Lake Coeur d’Alene on Sunday afternoon, and as many as eight people may have been onboard the two aircraft.
July 6, 2020 Excess & Surplus Lines Idaho

Straight-Line Winds In Texas Derail 86 Railcars

Straight-Line Winds In Texas Derail 86 Railcars

A severe thunderstorm that blasted through west Texas on Tuesday was so powerful that it caused dozens of freight train cars to derail, according to officials.
July 2, 2020 Excess & Surplus Lines Texas

SpaceX Is Ushering In The Era Of Space Commercialization As Insurers Prepare For Takeoff

SpaceX Is Ushering In The Era Of Space Commercialization As Insurers Prepare For Takeoff

The scenes from May 30 looked like they had been plucked out of the 1960s. News networks alternated between covering nationwide protests over the death of George Floyd, a black man who was allegedly killed by a police officer while in custody, and SpaceX’s first crewed launch to the international space station.
June 30, 2020 Excess & Surplus Lines Liability Workers' Compensation

Intact Expects To Pay Out $80M+ For Commercial COVID Claims

Intact Expects To Pay Out $80M+ For Commercial COVID Claims

Intact Financial Corp. is likely to pay out more than $80 million for commercial claims arising directly from the COVID-19 pandemic, but has only seen a small fraction of that so far, CEO Charles Brindamour said Wednesday.
June 15, 2020 Excess & Surplus Lines Liability

New Cyber Threat Takes Top Spot As Number One Cause Of Loss

New Cyber Threat Takes Top Spot As Number One Cause Of Loss

The key selling point for cyber insurance has evolved over recent years as cyberattacks have become more prominent. Several years ago, cyber insurance was important because of data breach concerns and protecting organizations’ liability if private data was exposed. Today, the focus is on the potentially huge losses stemming from cybercrime.
June 11, 2020 Excess & Surplus Lines Technology
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