Latest Liability Headlines
All the headlines from our Liability Topic Page, ordered by recency.
Hard Market Prices Continue
Feb 5 2024 // While not news to independent agents, commercial lines renewal rates rose again in the fourth quarter of 2023 — another sign that the hard market is here to stay — at least through 2024. According to the Ivans...
South Carolina Liquor Liability Market ‘Extremely Unprofitable,’ DOI Report Says
Feb 5 2024 // A report from the South Carolina Department of Insurance confirms what insurers and bars and restaurants have said for the past few years: Liquor liability coverage in the state is “extremely unprofitable” for...
Weekly Q4 2023 Earnings Wrap: The Hartford, The Hanover, Markel, and Selective
Feb 2 2024 // The Hartford said fourth quarter net income available to common stockholders increased 30% to $766 million. The insurer ended the year with net income up 38% to about $2.5 billion. Commercial lines record fourth quarter...
COVID Liability Immunity Includes Slips and Falls at Hospital – Alabama High Court
Jan 29 2024 // When the COVID-19 virus spread across the country three years ago, dozens of state legislatures approved statutes that granted health care providers immunity from legal actions brought by people who claimed to have been...
Specialty Market ‘Particularly Attractive’; Reason to Pause Elsewhere: Berkley CEO
Jan 25 2024 // W.R. Berkley CEO W. Robert Berkley, Jr. said he’s still got eyes on the specialty market, but maintains a cautious, more disciplined outlook on some lines of business, such as professional liability—especially...
Risk Strategies Acquires Medical Liability Agency in Virginia
Jan 25 2024 // National specialty insurance brokerage Risk Strategies announced it has acquired Professional Risk Associates, Inc. (PRA), a Virginia-based specialty healthcare insurance agency focused on medical professional...
Markets/Coverages: MGA Sands Point Risk Launches With Transaction Liability Practice
Jan 24 2024 // Sands Point Risk, a new managing general agent to be led by the founder of transaction risk solutions at DUAL, has been launched to serve the transaction liability insurance (TLI) sector. Dennis Kearns, who founded the...
Compared to Prior Quarter, All Commercial Lines Saw Renewal Rate Up in Q4: Ivans
Jan 24 2024 // Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last...
Markets/Coverages: CFC Launches Embedded Transaction Liability Insurance Product
Jan 23 2024 // Specialty insurance provider CFC has launched what it is calling the first ever transaction liability insurance product to be embedded into online M&A platforms in the USA. CFC is initially making its Seller Protect...
Markets/Coverages: Liberty Mutual Launches New Management Liability Package
Jan 22 2024 // Liberty Mutual recently announced ProShield, a packaged solution providing private companies and non-profits streamlined access to directors & officers, employment practices liability, fiduciary, and crime...
Illinois Supreme Court Applies ‘RTFP!’ Principle to Faulty Workmanship Claims
Jan 22 2024 // As reported by attorney Randy Maniloff in his Coverage Opinions newsletter, the Illinois Supreme Court has finally addressed coverage for construction defects, joining what is probably a slight majority of legal...
People Moves: Atain Names Dassow VP, Head of Primary Liability; WSIA Names New Secretary and Director Following Maner’s Retirement
Jan 19 2024 // Atain Names Dassow VP, Head of Primary Liability Atain Insurance Companies, headquartered in Farmington Hills, Mich., hired Tom Dassow as vice president and head of primary liability, leading Atain’s newly formed...
People Moves: Liberty Specialty Markets Appoints Bolaños as CUO, Moreno as President US, LatAm; HDI Global Names Tarantino MD of Singapore Branch as Silton Retires
Jan 19 2024 // This edition of International People Moves details appointments at Liberty Specialty Markets and HDI Global. A summary of these new hires follows here. Liberty Specialty Markets Names Bolaños as CUO, Moreno as President...
Alera Group Buys Med Mal Insurer CLS Healthcare Liability
Jan 19 2024 // Alera Group, an insurance and financial services firm in the U.S., announced the acquisition of CLS Healthcare Liability Specialists. Based in North Palm Beach, Florida, CLS provides malpractice coverage for physicians,...
Connecticut Sees Growth in Captive Insurers for Fourth Straight Year
Jan 18 2024 // Commissioner Andrew Mais of the Connecticut Insurance Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive...
Markets/Coverages: Canopius Launches Investment Mgmt Cover for Asset Managers
Jan 18 2024 // Canopius Group, the global specialty re/insurer, has launched a new investment management product for asset managers. The product has been developed to respond to shifts in the risk landscape in the highly regulated asset...
People Moves: Skyward Specialty Forms Media Liability Team
Jan 17 2024 // Skyward Specialty Insurance Group, Inc., headquartered in Houston, Texas, made two new hires as it expands into the media liability market, focusing on multimedia, film and ad agencies. Regina Williams joins Skyward...
Allstate Doesn’t Owe for Diminished Value; Farm Bureau Barred from Subro, Courts Say
Jan 17 2024 // Two court rulings in Southeastern states have underscored insurers’ responsibilities under uninsured motorist laws. In a Mississippi class-action lawsuit, the U.S. 5th Circuit Court of Appeals found that Allstate...
Texas Power Grid Operator Issues Conservation Request as Winter Storm Engulfs State
Jan 16 2024 // The Texas power grid operator asked residents to conserve power a second time this week as a blast of cold weather plummeted temperatures well below freezing for much of the state. This new conservation request is from 6...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
Jan 16 2024 // A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate...
