News - Tools & Intel | CRC Group
Liquor Liability Market Challenging for Many in 2023

Liquor Liability Market Challenging for Many in 2023

You might assume owning a bar would be all fun and games, but bars, concert venues, and other businesses in various locations across the U.S. are finding that’s not the case. Many have been forced to close their doors as the cost of liquor liability coverage rises. The price of liability insurance, including liquor liability, has been rising steadily across the country. A recent Council of Insurance Agents & Brokers survey found that in the fourth quarter of 2021 alone, medium-size businesses saw an average insurance premium increase of 10.6%; small businesses saw an average 6.3% percent rise with increases attributed to economic inflation, social inflation of jury awards, and other factors (source 2). The liquor liability market likely would have hit rocky ground sooner, but the pandemic slowed most businesses down and court cases ground to a halt. Now that courtrooms have returned to normal operations, drunk driving lawsuits are hitting with increased frequency and severity, which drives up insurance costs.

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2021 State of the Market at a Glance - Casualty, Construction, ExecPro, Personal Lines, Property

2021 State of the Market at a Glance - Casualty, Construction, ExecPro, Personal Lines, Property

Will premiums increase? Are terms and conditions changing? What lines of business have limited markets? Which lines of business have excess capacity? Here’s what clients can expect in the marketplace for 2021 in a quick and easy to read reference guide.

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Rough Road Ahead in Excess Casualty

Rough Road Ahead in Excess Casualty

The excess casualty market faces a rough road ahead. After a difficult 2020, the market is likely to remain hard at least through 2021 and possibly into the following year. Carriers continue to reduce limits and increase premiums as they grapple with the aftereffects of underpricing in the soft market. Much of the hardening is being driven by losses in auto, and also where social inflation is leading to more so-called ‘nuclear’ verdicts. Along with auto fleets, construction, real estate, habitational and hotels stand among the more difficult markets.

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Hospitality Industry Struggles to Find Mold Coverage

Hospitality Industry Struggles to Find Mold Coverage

Mold has been a part of our environment for millions of years, and there are more than 100,000 mold species naturally occurring on Earth.

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How Event Organizers Insure Against the Unexpected

How Event Organizers Insure Against the Unexpected

Concerts. Festivals. Fairs. Sporting events. Live theater. Corporate events. Whether it is indoors or outdoors, we love to be entertained and inspired. We thrive on learning from experts and hearing from speakers we admire. And this is why the events industry is enormous. In the United States, business meetings, conferences, tradeshows and the like provided over 5.9 million jobs.

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Excess & Umbrella REDY® Index January 2024
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Cyber REDY® Index January 2024
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Private D&O REDY® Index January 2024
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Errors & Omissions REDY® Index January 2024
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Property REDY® Index January 2024
Disability Insurance: Protection When Illness or Injury Strikes
Disability Insurance: Protection When Illness or Injury Strikes