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As Reputational Risks Grow, So Will Solutions

As Reputational Risks Grow, So Will Solutions

A good reputation is valuable but also fragile. As Berkshire Hathaway Inc. Chairman Warren Buffett said, “It takes 20 years to build a reputation, and five minutes to ruin it.” In the headlines every day are incidents that damage the public’s perception of an organization, from social media controversies, to executive misconduct to regulatory violations. Fortunately, a new generation of insurance products is emerging to provide protection for reputational risks.

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PFAS: The Next Asbestos?

PFAS: The Next Asbestos?

Chemicals commonly used in fire-fighting foams and a wide range of household items, from non-stick cookware to stain-resistant carpet, are turning up more often as exclusions on insurance policies. That’s due to a growing wave of litigation over water contamination and rising concerns among insurers that the chemicals per-and polyfluoroalkyl substances, or PFAS, could expose them to the same kind of expensive, unanticipated claims as asbestos did a generation ago. While property owners may see more scrutiny over PFAS, environmental insurance can still provide effective risk transfer in many cases.

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Changing Property Market Poses Challenges for 2020

Changing Property Market Poses Challenges for 2020

The property market continues to change amid decreased capacity and increased caution among carriers. There is little capacity left among many Lloyds syndicates, and domestic markets are more selective overall—particularly on tougher classes of business. While the first quarter of 2020 may bring some relief on capacity, insureds should expect increased rates, higher deductibles and greater scrutiny from underwriters. Valuations are particularly important along with better data on construction, especially for roofs. In this transitioning market, experienced brokers show their worth in finding the best solutions for clients.

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Significant Challenges Facing the Construction Insurance Marketplace

Significant Challenges Facing the Construction Insurance Marketplace

The construction industry has seen significant growth over the last several years. However, emerging trends such as large rate increases and reductions in excess capacity are posing challenges for construction insureds as the insurance market hardens. An increase in high-value claim payments and settlements, labor shortages, and more careful deployment of underwriting capacity are all factors adding difficulty to the state of the market across the country.

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To Improve Data Breach Response, Follow These Steps

To Improve Data Breach Response, Follow These Steps

The value of insurance and risk management often comes into sharp focus when a loss occurs. This is especially true of cyber risks such as data breaches.

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Why Consider Personal Umbrella Insurance?
Why Consider Personal Umbrella Insurance?
Why Law Firms Can Be Challenging for Cyber Insurers
Why Law Firms Can Be Challenging for Cyber Insurers
Food Product Recalls Create Costly Ripple Effects
Food Product Recalls Create Costly Ripple Effects
Risks & Insurance Implications for Companies Leveraging AI
Risks & Insurance Implications for Companies Leveraging AI
Errors & Omissions REDY® Index Q2 2024
Errors & Omissions REDY® Index Q2 2024
Private D&O REDY® Index Q2 2024
Private D&O REDY® Index Q2 2024
Excess & Umbrella REDY® Index Q2 2024
Excess & Umbrella REDY® Index Q2 2024
Property REDY® Index Q2 2024
Property REDY® Index Q2 2024
Cyber REDY® Index Q2 2024
Cyber REDY® Index Q2 2024
Property Submission Best Practices for Small & Middle Market Accounts
Property Submission Best Practices for Small & Middle Market Accounts
New Texas Data Law Creates Requirements and Risks
New Texas Data Law Creates Requirements and Risks
Trucking Industry Getting Squeezed by Claims
Trucking Industry Getting Squeezed by Claims