Property and Casualty

CMR Risk & Insurance Services Inc. > Blog > Property and Casualty
August 1, 2022

Construction Safety Professionals Struggle to Prevent Fall Hazards

Earlier this month, the Occupational Safety and Health Administration announced a new initiative to conduct surprise safety inspections for fall hazards. A day later, the agency announced $32,113 in fines for a Florida construction company where a 19-year-old worker died after falling from a clubhouse roof. The fines were far from unusual, but the juxtaposition...

July 27, 2022

For an Edge on Office Leasing, Get Health Conscious

A research note out of Marcus & Millichap on the office market claims there are “bifurcated fundamentals.” Central business district (CBD) offices are seeing faster climbing vacancy rates than those in suburbs, so preliminary second quarter data suggests. What’s causing the unhealthy disparity? Concerns about health. “This is in part due to the increased emphasis...

July 21, 2022

Water Damage: As Disruptive as Major Fires, Explosions

Water-related events can be particularly devastating in buildings with extensive damageable interior finishes such as carpeting, drywall and furniture — all which are significantly more vulnerable to water damage than buildings without these finishes. While many companies have risk management programs that address various types of incidents and crises, most are not aware of the water damage...

July 14, 2022

Managing Safety With Tablets and Smartphones at the Jobsite

With construction workers able to access the digital tools they need from a hand-held device that connects to the Internet, workers are more likely to use the device while moving or trying to complete multiple tasks, posing a safety risk for everyone. How we work has changed drastically over the last few years. Employees can...

July 13, 2022

2022 Midyear Market Outlook: Commercial Property Insurance

The commercial property insurance market has hardened in recent years, with consistent rate increases since the third quarter of 2017. These rate increases were evident in the beginning of 2022, with first-quarter rates rising by an average of 7.6%, according to industry data. Similar pricing trends occurred in the reinsurance markets during the same period...

July 12, 2022

The Hybrid Workplace is Here to Stay

One of the largest changes brought about by the COVID-19 pandemic to the workplace was the popularization of remote work. Industries that previously operated solely from offices realized almost overnight that they could operate without everyone under a single roof. With the pandemic on the wane and restrictions being eased, many workers have expressed interest...

July 8, 2022

How to Stay Cool in the Summer Heat

All heat-related deaths and illnesses are preventable. Yet, an average of 658 people die each year as a result of exposure to extreme heat. The summer before last, the National Center for Atmospheric Research (NCAR) did an in-depth study on heat exposure. It revealed that more than one-quarter of the U.S. population suffered from symptoms such as nausea,...

July 7, 2022

Who Needs Earthquake Coverage and Why

Natural disasters are events that create fear. When you add the flavor of how these events are reported, the fear is ratcheted up significantly, especially when you’re not accustomed to a particular event. For someone who grew up in an area where snowstorms were common, in an era before the Weather Channel decided to name...

June 30, 2022

Business Owners: Consider These Steps to Ward Off Wildfire Damage

The record heat in 2021 was damaging, particularly in the West and Pacific Northwest. As droughts became more frequent, it increased the likelihood and severity of wildfires, putting property at risk of extensive damage. While it was clear wildfires could cause significant losses, the wildfire season seemed to be getting longer. In fact, in December...

June 28, 2022

Builder’s Risk – Construction Projects Rush to Plug Cover Gap

Supply chain challenges and inflationary pressures have left contractors and developers with soaring insurance costs amid a scramble to extend cover for delayed projects. The cost of some materials has surged since the onset of the coronavirus pandemic, while an underwriting expert told Insurance Business that supply chain delays have meant policyholders may require an extension of...