In a recent win for policyholders, the Supreme Court of Colorado handed down a pair of decisions that extended the notice-prejudice rule to first-party property policies. Colorado law now requires an insurer to demonstrate...more
Yemeni-based Houthi forces have attacked more than two dozen vessels transiting the Red Sea since the October 7, 2023, start of the current Israel-Hamas conflict, leading to a surge in marine war insurance premiums. Houthi...more
As discussed in a previous post, cyber insurance demand and premiums have significantly increased in recent years. Fitch Ratings forecasts that cyber-related premiums could balloon to $22.5 billion by 2025...more
Earlier in 2022, CBRE forecasted a 14.1% year-over-year increase in construction costs by year-end 2022, as labor and material costs continue to rise, despite the expectation that overall cost inflation for materials would...more
12/30/2022
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Commercial Property Owners ,
Construction Industry ,
Construction Project ,
FEMA ,
Inflation Adjustments ,
Insurance Industry ,
Labor Shortage ,
Natural Disasters ,
Real Estate Development ,
Real Estate Market
The frequency and severity of cyber incidents, particularly ransomware attacks targeting businesses and critical infrastructure organizations, have been on the increase and are unlikely to subside anytime soon. Higher claim...more
Over the past few years, ransomware attacks have increased in frequency and demand size. And, increasingly, those attacks have targeted businesses and critical infrastructure organizations from across the globe. This trend is...more
The widespread denial of coverage under first-party property insurance policies for business interruption losses resulting from the COVID-19 pandemic has been extensively reported, but so far less attention has been paid to...more