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.

As the U.S. embarks on a nationwide infrastructure upgrade, a challenging casualty insurance market may make for a bumpy road. Millions of miles of roads as well as thousands of bridges and dams need repair across the country. A massive federal program aimed at addressing those needs is getting underway even as contractors face shortages of skilled labor and tight material supplies following the pandemic-related supply chain logjams. Social inflation is also generating other roadblocks as liability verdicts soar into the tens of millions of dollars. In the current legal environment, insurers have been pulling back on casualty coverage for public works projects, particularly those involving streets and roads, to limit their own exposure. As placements become more complex, experienced wholesale brokers with strong market relationships can be an invaluable ally for meeting insureds’ casualty insurance needs.

The trucking industry has experienced a volatile cycle over the past few years, and it continues to grapple with the COVID pandemic's economic fallout and driver shortages. In 2022, the trucking sector saw a shortage of just over 78,000 drivers, down only slightly from 2021’s shortage of 81,000 drivers (source 1). Controlling losses remains a big challenge for the trucking industry, especially as the need for drivers grows. According to the American Trucking Association, the trucking industry is likely to see a record deficit of 160,000 drivers by 2030 (source 5).

The 2020 E. coli outbreak linked to romaine lettuce sickened more than 160 people, with more than half requiring hospitalization. Fifteen people developed hemolytic uremic syndrome (HUS), a form of kidney failure (source 1). This outbreak was preceded by a similar 2018 outbreak that affected 32 people across 11 states (source 2). Unfortunately, the FDA couldn’t track down the source of either outbreak.

On February 3, 2023, a train derailed in East Palestine, Ohio. Thirty-eight of the cars left the track, including 11 that were carrying hazardous materials. In the aftermath of the derailment, the EPA has declared that the water and air in East Palestine are safe, but questions remain about environmental liability.