Property and Casualty
May 28, 2025
Severe Convective Storm Losses for 2025 Already Exceed $20 Billion
Insured losses from the severe convective storms (SCS) that occurred between May 14–17, 2025, are estimated to range from $4 billion to $7 billion. According to recent estimates from reinsurance brokers, these storms are likely to rank among the costliest SCS events in U.S. history. “Two large severe weather outbreaks on May 14-17 and May...
May 27, 2025
Business Continuity Planning Benefits
Unexpected disasters can impact organizations, their operations and stakeholders. Natural catastrophes, cyberattacks, public health crises and supply chain incidents can all have serious consequences. These and other events can damage commercial property and digital assets, disrupt critical business functions and cause operational downtime. They can also result in illnesses or injuries, emotional harm, and financial...
May 8, 2025
OSHA Extends Outdoor and Indoor Heat-related Hazards National Emphasis Program
OSHA issued a notice in January that it would extend the effective date of its Outdoor and Indoor Heat-related Hazards National Emphasis Program (NEP) until April 8, 2026. Originally, this NEP was set to expire on April 8, 2025. OSHA states its review of this NEP shows success in identifying and targeting industries with employee...
May 6, 2025
Hurricane Preparedness Week 2025: Protecting Your Commercial Property from Storm-Related Risks
As we observe Hurricane Preparedness Week 2025, it’s a critical time for property managers and commercial real estate stakeholders to reassess their readiness for hurricane season. The increased intensity and unpredictability of recent storms have heightened the urgency to develop comprehensive risk management strategies that safeguard people, property, and profits. The Growing Threat of Hurricanes to...
March 27, 2025
Unusually Active Hurricane Season in Store for the Atlantic: AccuWeather
Another above-average hurricane season will threaten the Atlantic this year, with as many as six storms affecting the US, AccuWeather Inc. said. Between 13 and 18 storms will at least reach tropical storm strength, and seven to 10 of those are expected to become hurricanes with winds of at least 74 miles (119 kilometers) per...
March 25, 2025
Contractual Risk Transfer for Landlords
Risk management is an essential aspect of property leasing, and one method that landlords can utilize to reduce potential losses is contractual risk transfer. This legally binding strategy assigns responsibilities for liabilities and related costs to the party who may be best positioned to control the risk. Together with other risk management strategies (e.g., risk...
March 6, 2025
Report Reveals a Rise in Cargo Theft
A new report released by multinational data analytics company Verisk revealed that a record-setting 3,625 cargo theft incidents occurred across North America in 2024, reaching nearly $455 million in valued losses. This article summarizes key findings from the report and highlights recent cargo theft incidents. Key Findings The Verisk report confirmed that cargo theft frequency...
January 28, 2025
Earthquake Awareness Month
February is Earthquake Awareness Month. It is a good time to make sure your property is protected against the impact of earthquakes. Even though earthquakes are seen as more common on the West Coast, earthquakes have occurred in 39 states. Consider implementing the following safety measures to protect your property from the impacts of an...
January 3, 2025
U.S. Commercial Property Pricing Is Turning a Corner Heading Into 2025
With years of double-digit rate increases now in the past for many buyers, the U.S. commercial property market has improved and shows signs of stability even amid obstacles, according to a new report from the Insurance Information Institute (III). Growth in the U.S. commercial property market has been primarily rate-driven for the last several years,...