A catalytic converter is a device found in vehicles’ exhaust systems that converts environmentally hazardous exhaust into less harmful gasses. Though catalytic converters have been installed in every new vehicle since 1975, theft of these devices has skyrocketed in recent years due to the highly valuable precious metals they contain.

Home insurance loss costs and frequency across all perils fell in 2021 from the year prior, but severity increased by 7%, according to the 2022 LexisNexis U.S. Home Trends Report. LexisNexis noted that insurance professionals should not be deceived by the one-year dip. The report, which analyzes data spanning seven years, shows a steady increase over time.

Ransomware and business email compromise (BEC) caused the most cyber insurance claims over the past five years, accounting for 44% of about 7,000 claims examined in NetDiligence’s 2022 Cyber Claims Study. The percentage of claims attributed to these two causes of loss rose to 50% for claims reported in 2020 and 2021.

Just 19% of households in the Florida communities hardest hit by Hurricane Ian had flood insurance policies through the National Flood Insurance Program (NFIP), according to federal data. The Category 4 hurricane made landfall on Florida’s Gulf coast on Sept. 28, with wind speeds of up to 155 mph and a storm surge of at least 12 feet.

In the aftermath of Hurricane Ian, the Federal Emergency Management Agency (FEMA) is working to help residents and families throughout much of Florida, North Carolina and South Carolina recover from the storm. Government officials have allocated over $190 million in federal disaster assistance to help the more than 127,000 households damaged by Hurricane Ian.

Despite having cause for optimism in 2021, the U.S. commercial auto insurance market shows signs of falling behind again in 2022 as losses increase, according to a new segment report from AM Best. The sector had its best year in a decade in 2021, with a combined ratio under 100, a small net underwriting loss and strong premium growth, the company noted.

OSHA announced its preliminary list of the top 10 most frequently cited workplace safety standards for fiscal year 2022. Since OSHA’s fiscal year doesn’t end until Sept. 30—and this list was published prior to this date—the final results won’t be announced until the beginning of 2023. However, this preliminary list indicates the most violated safety standards for fiscal year 2022.

Although it can be a difficult topic to broach, it’s important to talk to your teenager about drug and alcohol use. By establishing open communication in your household, you can help your child make wise decisions when confronted with these temptations.

Almost every organization faces commercial liability exposures. A commercial liability loss exposure is a condition or situation that presents the possibility of an organization becoming legally and financially responsible for injury, harm or damage to another party.

The fallout from Hurricane Ian includes insured losses anywhere from $28 billion to $63 billion and lasting effects on insurance, infrastructure and real estate, according to estimates and commentary from catastrophe modeling firms.

Concrete is a common material utilized across many construction sites, particularly as it pertains to foundation work. With this in mind, concrete hazards are a key concern within the sector. Such hazards may include respiratory issues caused by concrete dust, slips and falls on wet concrete, skin and eye irritation due to concrete spills or splashes, and struck-by injuries stemming from shifting or tipping concrete slabs—many of which can weigh greater than 800 pounds.

Major snow events can impact the integrity of a structure, making it imperative for commercial property owners to understand their building’s characteristics and structural system prior to the start of the snow season. Having familiarity with the building structure can help owners determine if any changes occurred during a major snow event and if repairs are necessary.

Business interruptions can occur after an anticipated or unanticipated event that delays or disrupts a business’s normal operations. Natural disasters, fires, cyberattacks or the loss of a critical supplier can halt operations for an extended period of time, leading to a cash-flow imbalance that could force a business to close for good.

As an employer, safety is your responsibility, and it’s important to identify workplace hazards and instill safe employee habits to ensure corrections remain permanent. One way to accomplish this is through behavioral observation, as it can help identify unsafe acts and conditions within a workplace, giving employers insight into potentially dangerous work habits.

As Hurricane Ian approaches the western coast of Florida, forecasts warn of a potentially life-threatening storm surge, destructive winds, heavy rain, flooding and possible tornadoes. Weather experts expect Ian to make landfall between Tampa Bay and Cape Coral late Wednesday, Sept. 28, into the early morning hours of Thursday, Sept. 29.

This past year has seen growing inflation concerns, impacting individuals and industries across the board. The commercial insurance market is no exception to these concerns. Similar to other goods and services, inflation can also elevate the cost of insurance. In the scope of workers’ compensation coverage, inflation issues have become increasingly evident through various sector trends—including labor shifts, rising wages, higher medical expenses and rate adequacy challenges.

The second quarter of 2022 marked the 19th consecutive quarter of commercial price increases, with brokers reporting continued easing in the market and average price increases of 6.1% across all lines of business, according to The Council of Insurance Agents & Brokers’ (CIAB) latest quarterly survey.

While repetitive motion injuries (RMIs) are common among athletes, these injuries can occur in the workplace. Also known as repetitive stress injuries or cumulative trauma disorders, RMIs impact a broad range of occupations, including jobs that require heavy lifting and stationary office roles. RMIs occur when continuous physical stress from daily tasks damages nerves, tendons or muscles quicker than the body can heal from such stress.

Hailstorms can be swift and destructive, damaging buildings, outdoor equipment and vehicles in a matter of minutes. For commercial property owners, such damage can result in destroyed property, costly repairs, business disruptions and lost revenue. This article discusses the risks hail poses to commercial properties and preventive measures to protect buildings from hail damage.

Three separate downpours across three states from July 25th to August 1st destroyed homes and businesses, killed crops and left at least 39 people dead. Each of these downpours was a one-in-a-thousand historic rainfall event, prompting climate experts to warn that the frequency and intensity of these storms are increasing.