Intel

Following several years of double-digit rate increases and restrictive adjustments to Terms and Conditions (T&C), the Property Insurance sector has reached a point of relative stability. Rates are largely modest as insurers secure the required premium, now applying rates against a proper exposure basis—Insurance to Value (ITV). With few exceptions of traditional CAT-prone perils in specific geographies, most carriers are…

Many of the primary factors that influenced the status of the Property & Casualty (P&C) market in 2023 are likely to remain in 2024. We continue to operate in a comparatively hard environment marked by rising but moderating rates on some lines of business, where it is often necessary to layer available capacity that includes carefully worded terms and conditions…

A 30-year-old woman was sent to the hospital and listed in critical condition after a concrete slab from an apartment building facade broke off and struck her in the head while she walked down the sidewalk in Philadelphia, Pennsylvania, in early February. Contractors were reportedly working on the building when the concrete slab and debris fell from about two stories…

A fire that destroyed much of a historic country club in Bloomfield Hills, Michigan, may have been started by construction work involving a propane torch, new video footage suggests. The Feb. 17 blaze at Oakland Hills Country Club caused an estimated $80 million in damage to the clubhouse and was a near “total loss,” according to reports. Video recovered from…

Two workers narrowly avoided serious injuries after being thrown from horizontal metal beams at a construction site on the Boston University campus May 14. The accident happened when a steel column fell to the side, causing the adjacent beams to topple “like dominoes” and partially collapse the steel frame of what is slated to become a 13-story data sciences building…

COVID-19’s impact on the Canadian construction industry has been substantial; to learn more about current challenges facing construction companies and how Construction Insurance can help address them, we spoke with Steven Hrab, Director, Construction, Burns & Wilcox, Toronto, Ontario. What are the greatest risks facing companies in Canada’s construction industry? S.H.: Global lockdowns are currently the greatest challenge facing the…