Category: Property & Casualty

Lessons from the pandemic for event cancellation coverages

The Coachella Music Festival in California and Glastonbury Festival in the U.K. were canceled out of precautions related to the ongoing global pandemic. And then, the Tokyo Summer Olympics saw significant disruption,…

The final frontier: Risk management for space innovations

Last year, as we on Earth grappled with the effects of a global pandemic, there was no pause in the number of satellites being launched into space. Indeed, the volume of launches…

Drought, Heat in Western US Foretell Severe Wildfire Losses for 2021

With record-breaking heat and drought conditions sweeping the western United States, the 2021 wildfire season will likely produce another devastating year of wildfire losses, according to a recent report from A.M. Best….

Business Income + Cyber Insurance: Cautionary Tales and Lessons Learned

How much revenue could your company afford to lose if one of your key vendor’s system goes down? How much revenue could your company afford to lose if your own systems failed? One month of…

Promoting a Culture of Worksite Safety

Summer months bring warm weather, travel plans, and a spike in serious injuries and fatalities, particularly in the trades, according to Dag Yemenu, executive vice president, products, at ISN Software Corp., an online…

Aliens and Insurance

Did you know — the International Academy of Astronautics (IAA) Institute has a detailed plan for how to announce an event of extraterrestrial discovery. In 1989, the IAA adopted the Declaration of…

COVID-19 Insurance Coverage Cases are Hitting Courts

There are now 120 cases on appeal, in both state and federal courts, that allege insurance companies wrongfully denied coverage for pandemic-related business interruption claims. Lawyers are awaiting rulings from the Ohio…

Storming the Capitol: Insurance’s role in covering invasions past and present

History provides a great opportunity to learn from past mistakes to avoid repeating them today. Consider this semi-fictitious account of another invasion of the Capitol. Benjamin Franklin organized the oldest property insurance company…

Commercial Insurance Prices Hit Highest Average Increase Since 2003

U.S. commercial insurance price increases hit their highest level since 2003 in the fourth quarter of 2020, with the average across all lines up over 10%, according to Willis Towers Watson’s Commercial…

Businesses Struggling in Pandemic Sue Insurers, With Mixed Results

This article is being republished as part of the WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (December 30, 2020). Chef Matthew Kelly is one…