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"Commercial Property"
Millions of homes and condominiums across the country are in high danger zones for environmental hazards.
According to the Environmental Hazards Housing Risk Index, produced by ATTOM Data Solutions, 17.3 million single family homes and condos with a combined estimated market value of $4.9 trillion are in zip codes with high or very high risk for at least one of four environmental hazards: Superfunds, brownfields, polluters or poor air quality. Continue reading
A combination of consumer demand and industry interest could create a wave of smart home technology and IoT disruption for home insurers in the near future Continue reading
Effective January 1, 2017, OSHA has revised its requirements for recording and submitting workplace injury records and illnesses. The OSHA Final Rule on Electronic Tracking of Workplace Injuries and Illnesses revisions require that some recorded information is submitted to OSHA electronically. Continue reading
Business interruption is a top global corporate risk for the fifth year in a row. But worries about Brexit and incoming U.S. President Donald Trump also made the list of companies’ 2017 fears and uncertainties in a new Allianz report.
About 37 percent of respondents rated business interruption as their biggest risk worry, essentially even with 2016, the latest annual Allianz Risk Barometer noted. This year’s report – Allianz’s sixth annual – was based on a survey of 1,237 risk experts from 55 countries. Continue reading
The marketplace for commercial insurance will continue to favor insurance buyers in 2017, particularly those with strategic risk management and risk transfer strategies, according to Willis Towers Watson’s 2017 Marketplace Realities report.
The report points to strong marketplace capacity as a key driver in market conditions and contends that this ample capacity will likely allow insurers to absorb any natural catastrophe losses in 2016, including those from Hurricane Matthew and the Atlantic hurricane season. Continue reading
ATLANTA — Cyber liability insurance is offered by most big-name insurers, but it remains, and will continue to remain for the foreseeable future, largely an excess and surplus lines product.
The changing nature of the coverage and the size of the risks involved make it a natural for the nonadmitted market, experts say. However, admitted insurers have made inroads into the cyber liability insurance sector and will likely grow their share, they say.
David J. Bresnahan, Boston-based executive vice president of Berkshire Hathaway Specialty Insurance Co., said he estimates that some 90% of cyber insurance business is in the nonadmitted market. Continue reading
A new study from the University of Iowa College of Public Health has found that traffic accidents involving farm vehicles in the Midwest would decrease by more than 50 percent if state policies required more lighting and reflection on those vehicles.
The study by the college’s Great Plains Center for Agricultural Health (GPCAH) compared rates of farm equipment–related crashes in nine Midwestern states in the context of the states’ policies on lighting and marking vehicles. Those states report an average of more than 1,100 farm vehicle-related crashes each year, often causing severe or fatal injuries. Continue reading
Among all the safety problems an employee can encounter, fire can be the most frightening. Every year office fires cause millions of dollars in damage and result in hundreds of employee injuries. Yet many employees do not realize how their own actions can contribute to the risk of fire. Continue reading
