Cannabis Insurance Claims Dominated By ’Inside’ Theft Jobs
Theft remains by far the biggest concern for both marijuana and hemp businesses in the United States. The nature of the product and its popularity on the black market make it a prime target for petty and organized crime.
March 25, 2020
Excess & Surplus Lines
Beazley: Ransomware Claims More Than Doubled In The Last Year
Ransomware attacks on a prominent insurer’s client base rose by more than 100% last year, driven by new attacks on healthcare, professional services and financial institutions, according to new figures released Monday.
March 23, 2020
Excess & Surplus Lines
Travel Insurance Probably Won’t Save You From Coronavirus Cancellations
The novel coronavirus outbreak has crippled the travel industry worldwide. Cruises are canceled, major airports are empty and hotel bookings are bottoming out. But is all of the disruption and money lost by travelers covered by trip insurance? Probably not, experts say, even in the wake of a worldwide pandemic.
March 13, 2020
Excess & Surplus Lines
Liability
Don’t Burst The Bubble: Underwriting Family Fun Centers
A family fun center is like a bubble of joy. You cross the threshold with your family and friends, and you’re transported into entertainment heaven.
March 12, 2020
Excess & Surplus Lines
Liability
Couple Stuck On Princess Cruise Ship Files $1 Million Lawsuit
A Florida couple stuck on a coronavirus-plagued cruise ship is suing Princess Cruise Lines. Ronald and Eva Weissberger are seeking more than $1 million in damages, according to the lawsuit filed Monday in the United States District Court for the Central District of California in Los Angeles.
March 11, 2020
Excess & Surplus Lines
Litigation
California
Understanding Local Pricing Is Crucial For Cannabis Claims
Cannabis businesses face a wide array of risks and obstacles. Arguably one of the main exposures to impact the industry so far is theft. As the medical and recreational cannabis markets continue to expand into new states, theft claims involving cannabis-related stock and/or raw materials are also on the rise.
March 10, 2020
Education & Training
Excess & Surplus Lines
Excess, Surplus Market Seeing More Insurance Submissions
The excess and surplus lines market is seeing a strong flow of insurance submissions as standard markets cut back on coverage, said attendees at the Wholesale & Specialty Insurance Association’s underwriting summit earlier this week.
March 5, 2020
Excess & Surplus Lines
Act Of God Versus Emerging Risk: Texas Trial Highlights Climate Liability For Factories
Opening arguments ended Monday in Texas in the highest profile criminal case ever brought against a company and its employees for allegedly failing to adequately prepare for the effects of climate change. The company, Arkema, owns a chemical plant outside Houston that flooded when Hurricane Harvey dumped more than 5 feet of rain on the area in 2017.
March 4, 2020
Excess & Surplus Lines
Liability
Litigation
Texas
Pileups Involving At Least 100 Vehicles Shut Down Wyoming Interstate
At least three people died in a wreck involving 80-100 vehicles Sunday on Interstate 80, while a second crash on I-80 involving at least 30-40 vehicles occurred around the same time, just four miles away.
March 2, 2020
Auto
Excess & Surplus Lines
Liability
Subrogation
Wyoming
Massive Fire Tears Through Luxury Apartment Complex Under Construction In Savannah, Georgia
More than three hours after a massive fire engulfed a large construction site in downtown Savannah, Georgia, crews were still battling the blaze.
February 27, 2020
Excess & Surplus Lines
Liability
Property
Subrogation
Georgia
Personal Injury Lawsuits Filed By Victims Of 2019 Grand Forks Balcony Collapse
When a balcony at a Grand Forks apartment building collapsed in June, it sent five people plummeting four stories to the sidewalk below. Now, four of those people have filed a personal injury lawsuit against the building’s owners as well as multiple contractor and architectural companies.
February 24, 2020
Excess & Surplus Lines
Liability
Litigation
North Dakota
Trucking Insurance: Navigating The Collision Course
Trucking generates more than $700 billion in annual revenue in the United States and is responsible for transporting nearly 70% of the nation’s freight annually. For many years, trucking was the lifeblood of US trade, but the glory days have come to an end.
February 19, 2020
Excess & Surplus Lines
Litigation
Man Wrecks Luxury Cars In Theft Attempt At Ferrari Salt Lake City Dealership
Salt Lake City police arrested a man Wednesday after he allegedly broke into a luxury car dealership and crashed several cars before attempting to steal a Bentley loaded with stolen goods.
February 14, 2020
Auto
Excess & Surplus Lines
Utah
Rockslide Causes Fiery Train Crash In Kentucky
A rockslide caused a CSX train to go off the rails in Eastern Kentucky, causing a fire and sending at least one engine and multiple cars into the Big Sandy River. The southbound train had 96 loaded ethanol cars and two loaded rock cars when it derailed in Draffin, Kentucky, about 7:05 a.m., CSX said.
February 13, 2020
Excess & Surplus Lines
Kentucky
Lakefront Mansion Destroyed By Fire So Massive, Smoke Was On Weather Radar
Fire continued burning Thursday morning more than 12 hours after a multimillion-dollar home under construction became engulfed in flames on Lake Minnetonka’s northeastern shore, authorities said.
February 13, 2020
Excess & Surplus Lines
Property
Minnesota
