Articles

Insurers Caught Up in Civil Rights Settlements Against Law Enforcement

Municipalities, their insurers and risk pools should be heeding the current public re-examination of police and prosecutorial actions taking place across the country, according to an insurance policyholder attorney who works on civil rights cases. Attorney Alexander Brown sees the Black Lives Matter movement, actions by reform-minded prosecutors, increasing legal actions and calls for police refor...

Reconstructing the Construction Market for the COVID-19 World

The construction industry may emerge from the pandemic strong or relatively unscathed compared to other segments of the economy. But it also faces its share of challenges in managing exposures, delays, added costs and shutdowns in this COVID-19 world. Construction clients have been making adjustments, but the new safety protocols have added cost and new exposures, according to Danette Beck, nation...

Experts: Whether Public or Private, Flood Insurance Is a Must

Tropical Storm Imelda hit the Texas Gulf Coast on Sept. 17, 2019, as a fairly low-level tropical storm but that doesn't mean it was an inexpensive one in terms of property damage, especially with regard to flooding. Imelda drenched Southeast Texas for three days, saturating some areas with as much as 43 inches of rain. The National Flood Insurance Program (NFIP) paid out around $738 million on 11,...

What the Construction Market Could Look Like in a Post-Pandemic World

The construction industry is one segment of the economy that could emerge from the pandemic stronger. That's good news for construction insurance experts. But moving forward comes with a few challenges as contractors adjust to jobsites in a COVID-19 world. Danette Beck, national construction practice leader at Valhalla, N.Y.-based USI Insurance Services, says her construction clients are tackling...

AM Best: Coronavirus Could Further Stress an Already-Stressed D&O Insurance Market

Players should expect the directors and officers insurance market to "undergo radical changes" based on 2019 results and the "unprecedented turbulence" created by the COVID-19 pandemic, according to an A.M. Best report. A.M. Best expects that the efforts to address rising litigation and the market hardening that have been going on for a few years to continue for some time, with increases likely to...