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Rapid Growth of TPLF Impacts Insurance Affordability

Rapid Growth of TPLF Impacts Insurance Affordability

Over the last decade, third-party litigation funding (TPLF) has evolved into a $17 billion industry worldwide, and 52% of that money is being spent in the U.S., making TPLF a key contributor to social inflation, hiking up jury awards and claim settlements that may have a significant impact on insurance prices and coverage availability.

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2022 State of the Insurance Market

2022 State of the Insurance Market

When faced with the promise of a new year, many people look ahead – leveraging lessons from the prior year to chart a path forward, overcome obstacles, and reach for a new goal. The best in the insurance industry often do the same thing as they examine market conditions and strive to meet client needs in an ever-evolving landscape.

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Claims Advocacy Team Gets Carrier to Rescind Denial of Defense for Slip-and-Fall

Claims Advocacy Team Gets Carrier to Rescind Denial of Defense for Slip-and-Fall

When an insurance carrier denied coverage and defense to a condo association just two weeks before a status hearing in a slip-and-fall case, the retail agent turned to CRC Group’s Claims Advocacy Team for help. Despite the time constraints, CRC was able to review the claim, advocate for coverage, and convince the carrier to rescind its denial—all in time for the Insured to receive a defense at the hearing.

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2021 Excess Casualty Market Remains Firm

2021 Excess Casualty Market Remains Firm

Following a soft market cycle characterized by marked underpricing, an excess casualty market that was hardening at the start of 2021 is now firm. Underwriters continue to look for rate increases and cut capacity as large claims climb the tower.

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New York Construction Market Steady Post-Pandemic

New York Construction Market Steady Post-Pandemic

When the coronavirus struck in early 2020, construction projects all around NYC were halted throughout April and May as officials scrambled to outline pandemic restrictions. Unfortunately, with strict lockdowns and safety guidelines required to slow the spread, the construction market in New York contracted by 3.8%, resulting in $9.8 billion in lost construction over the course of the year.

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Excess & Umbrella REDY® Index Q1 2024
Excess & Umbrella REDY® Index Q1 2024
FTC Rule Banning Noncompetes: What You Need to Know
FTC Rule Banning Noncompetes: What You Need to Know
2024 Excess Trucking State of the Market
2024 Excess Trucking State of the Market
Challenging Construction Projects Demand Insurance Specialist Expertise
Challenging Construction Projects Demand Insurance Specialist Expertise
Earthquake Market Stabilizes After Year of Volatility
Earthquake Market Stabilizes After Year of Volatility
Unique Labor Law Makes Insuring New York Construction Projects Challenging
Unique Labor Law Makes Insuring New York Construction Projects Challenging
Navigating the Minefield of Insuring Healthcare Staffing Agencies
Navigating the Minefield of Insuring Healthcare Staffing Agencies
Property REDY® Index Q1 2024
Property REDY® Index Q1 2024
Errors & Omissions REDY® Index Q1 2024
Errors & Omissions REDY® Index Q1 2024
Private D&O REDY® Index Q1 2024
Private D&O REDY® Index Q1 2024
Cyber REDY® Index Q1 2024
Cyber REDY® Index Q1 2024
Healthcare State of the Market at a Glance
Healthcare State of the Market at a Glance