Hiscox, the leading small business insurer, found that 75% of small businesses in the US are underinsured, and over 70% do not understand what business insurance covers.
Tag: general liability insurance
Commercial Renewal Rates Up Month Over Month
The third quarter results of 2023 showed premium renewal rate change for all major commercial lines of business, except Workers’ Compensation, are up year over year. Q3 experienced an increase in average premium renewal rate change across all major commercial lines.
Hard Market Rates Continue with Average Premium Renewal Rates Up for Most Major Commercial Lines
Year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced increasing average premium renewal rates, while premium renewal rates decreased for Workers’ Compensation.
Average Commercial Lines Renewal Rates Up Y-O-Y
IVAN’s first quarter results of 2023 showed premium renewal rate change for all major commercial lines of business except Workers’ Compensation are up year over year.
Low-Income Residents Face Higher Risk of Deadly Fires Like Bronx High-Rise Apartment Blaze
The deadly fire in a Bronx apartment building was the second such tragedy in low-income housing in the United States this month, highlighting the persistent link between poverty and residential fire deaths. “This is not to say that poverty invariably leads to fires,” said Birgitte Messerschmidt, research director at the National Fire Protection Association. “However,… Continue reading Low-Income Residents Face Higher Risk of Deadly Fires Like Bronx High-Rise Apartment Blaze
Month-Over-Month Average Renewal Premium Rates for Some Lines Are Up
IVANS® today announced the October 2021 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business, except Workers’ Compensation, experienced an increase in average premium renewal rate. Month over month, premium renewal rates rose for lines of business including Business Owner’s Policy (BOP), Commercial Property,… Continue reading Month-Over-Month Average Renewal Premium Rates for Some Lines Are Up
WaterColor Announces New Liability Capacity in New York
WaterColor Management (WCM), a nationwide MGU, introduces its nationwide Water Industry Property & Casualty Program. All US states & Canadian provinces are eligible. In New York, Labor Law insurance coverage is included on request. The program is designed for water & wastewater treatment companies; groundwater drilling; septic, sewer & greasetrap operations; and water filtration, softening… Continue reading WaterColor Announces New Liability Capacity in New York
Travelers Introduces IndustryEdge® Program for Professional Services
The Travelers Companies, Inc. today announced the launch of IndustryEdge for Professional Services. This tailored business insurance solution offers coverages including general liability, property, commercial auto, workers compensation, professional liability and cyber to help customers mitigate industry-specific risks such as data breaches, theft and lawsuits. IndustryEdge for Professional Services is specially designed to meet the… Continue reading Travelers Introduces IndustryEdge® Program for Professional Services
Hiscox Launches First Variable Consortium for ‘Hard to Place’ General Liability Risks
Hiscox, the specialist global insurer, together with RKH Reinsurance Brokers, have launched a new variable consortium with a maximum line of over $20 million for a wide range of challenging general liability risks such as wildfire, trucking and construction. A market first, the variable consortium enables Hiscox to bind capacity on behalf of their follow… Continue reading Hiscox Launches First Variable Consortium for ‘Hard to Place’ General Liability Risks
Chipotle to Pay $25 Million Fine in Federal Food-Safety Case
Chipotle Mexican Grill has agreed to pay a record $25 million fine to resolve criminal charges involving food-safety violations, the Justice Department said. The charges related to “adulterated food that sickened more than 1,100 people across the United States from 2015 to 2018,” the department said in a release. The fine is the largest “ever… Continue reading Chipotle to Pay $25 Million Fine in Federal Food-Safety Case