FOCUS ON ENVIRONMENTAL AND POLLUTION INSURANCE New exposures increase risks By Lori Widmer When it comes to the construction industry, pollution and environmental risks are part of doing business. Yet despite the industry’s leanings toward more green construction, new environmental exposures are emerging, creating expensive, potentially long-tail claims headaches for the industry. Such is the case in Hartford, Michigan, where elevated levels of both per- and polyfluoroalkyl substances (PFAS) have
Specialty Lines
Specialty Lines Markets PROFESSIONAL LIABILITY A hard market comes around softly By Joseph S. Harrington, CPCU Observers agree that the market for professional liability insurance is hardening. Beyond that, there is little agreement about how hard it will get, or what “hardening” really means in a practical sense. After a prolonged soft market, is it just wishful thinking? “I see the market hardening to some degree,” says Bruce Swicker, vice
THE EVOLUTION OF CONTRACTORS PROFESSIONAL LIABILITY INSURANCE Does a carrier’s claims philosophy really matter? By Raymond F.H. Bustamante Have advances in contractors professional liability (CPrL) insurance policies created differentiation in the efficiency of claim resolution? In my mind, the answer is a resounding “yes.” According to FMI, a leading management consulting, investment banking and research company serving the construction industry, design-build as a project delivery method is anticipated to grow
Risk Managers’ Forum By Reed Rhoden, CIC, CRIS CANNABIS INSURANCE: EVALUATING RISKS AND REWARDS It’s a new industry, so we need all the market intel we can get Cannabis insurance for growers, manufacturers, and dispensaries is one of the most dynamic emerging areas in the insurance marketplace. The rush to legalize marijuana at the state level is affecting every line of insurance. Offering coverage for cannabis operations can provide a
THE FUTURE OF RISK Emergence and adaptation of technology drive changes in the industry By Dave Willis, CPIA Much is taking place in terms of the future of risk. That’s the scenario David Sherwood laid out in a session he led at the Target Markets Program Administrators Association mid-year meeting in Baltimore earlier this year. “There’s a lot of change going on,” he added, encouraging industry professionals who attended the
