Intel

Last quarter, we indicated the Property & Casualty (P&C) market had reached a relative level of equilibrium not seen in several years. We defined this as an environment where rates and capacity were relatively stable, and carriers could be profitable. The gradual and consistent shift in business from the admitted to the Excess & Surplus (E&S) market is a transformation…

As medical spas continue to grow in the U.S. and Canada, one type of service appears to be in high demand: weight loss treatments. With well-known drugs like Ozempic and Wegovy in short supply in many areas, some medspas have been filling the gap by offering semaglutide injections to their customers. Recent reports highlight medspas in Iowa, Missouri and other…

The term “equilibrium” is increasingly being used within insurance circles to describe certain sectors moving toward a state of balance in terms of rates versus supply, terms and conditions. It suggests a growing opinion among industry leaders that Property and Casualty (P&C) is largely in a healthy place. This is true even after a decade-long period characterized by costly CAT…

Following several years of double-digit rate increases and restrictive adjustments to Terms and Conditions (T&C), the Property Insurance sector has reached a point of relative stability. Rates are largely modest as insurers secure the required premium, now applying rates against a proper exposure basis—Insurance to Value (ITV). With few exceptions of traditional CAT-prone perils in specific geographies, most carriers are…

Experts are sounding the alarm over the risk of infections and other negative outcomes that patients could face after receiving treatments at medical spas, or med spas, which have boomed in popularity in recent years. According to a recent NBC News report, physicians are seeing more adverse reactions linked to the facilities and there are growing concerns over the clinics…

The title of this quarter’s overview and forecast could easily be: “Profitability Matters.” That is especially true in the Property space for both Personal and Commercial policies. The industry faces daily challenges from CAT storms and events, making every state subject to immediate loss from hurricanes, wildfires, and convective storms—defined as severe local storms associated with wind, thunder, lightning, heavy…

More than six years after a data breach that disclosed 2.81 million patients’ protected health information, Banner Health has agreed to pay $1.25 million to the U.S. government to settle potential violations of the Health Insurance Portability and Accountability Act (HIPAA), Campus Safety Magazine recently reported. The Arizona-based healthcare system also agreed to implement changes to better protect patient information.…

A new report based on a survey of health care providers found that an alarming number of physicians have used alcohol or controlled substances while on the job. The survey, conducted by All Points North, revealed that 1 in 7 physicians admitted to consuming alcohol or using other controlled substances at work during the last three months, with more than…

Nursing homes in some areas would be required to test staff and visitors for COVID-19 on a weekly basis under planned rules from the Trump administration. The testing requirement, announced July 22 as part of a set of initiatives aimed at further protecting nursing home residents from coronavirus, would apply to all nursing homes in states with a 5 percent…

A shortage of acute care doctors and nurses to care for patients suffering from COVID-19 has forced many medical professionals to assume new roles and responsibilities. They are working long hours treating an unprecedented volume of gravely ill patients, often in unfamiliar settings and with insufficient personal protective gear. Many are forced to make life-and-death decisions due to shortages of…

With new models of care evolving and new entrants into the market, there have been many changes in the healthcare environment since the passage of the Patient Protection and Affordable Care Act. Brad Rosgen, a healthcare practice leader at Farmington Hills, Mich.-based Burns & Wilcox, provides three risk management tips for healthcare organizations in the new environment.

Toronto, ON [March 10, 2014] – In support of Fraud Prevention Month, Burns & Wilcox Canada is encouraging Canadian organizations to re-examine the steps they take to protect themselves from fraud. According to the Shred-it 2013 Information Security Tracker survey, each year, the average organization loses an estimated 5 per cent of its revenues to fraud. Of those organizations, 49…