In today's unstable economic conditions, construction insureds will want to partner with stable carriers who are strengthening their rates.
It's not your imagination. Weather has become more volatile in recent years, and the frequency and severity of convective storms has been on the rise.
Deep expertise and a savvy underwriting approach are the keys to success in the products liability space. In the hyper-specialized world of products liability underwriting, top underwriters know they need to develop a deep understanding of their clients' exposures.
Ashley Moffatt, SVP Brokerage, Primary Casualty for Nationwide E&S, said their ultimate goal is to be a top 10 carrier with their key distribution partners. "Some initiatives that I'm particularly excited about include investing in third-party tools and technology to enhance our data-driven decisions, as well as building out new product offerings to promote profitable growth opportunities," she said.
Catastrophic events are on the rise. Since 1980, 338 weather and climate disasters have each resulted in a billion-dollar-plus loss, adding up to a staggering $2.295 trillion. With no end to this concerning trend in sight, insurers are taking various approaches to riding out the proverbial storm.
Remodeling contractors specialize in making significant improvements, alterations or additions to the interiors or exteriors of existing buildings. As part of the larger construction sector, remodeling contractors can be impacted by the knock-on effects of macro-industry trends.
Although the experts diverge on how long it will take for inflation to reach the desired level, they do agree on one point: above-average inflation is not going anywhere anytime soon. This will affect manufacturers still contending with the impact of the pandemic and the related supply-chain slog.
The issue of inflation isn't just impacting what you pay at the pump and in the grocery store. Its effects are far-reaching, and that includes property, construction materials and all points in between. Factor in ongoing supply chain issues that emerged in full force during the pandemic along with a tight labor market, and it's no wonder that industries far and wide are feeling pinched.
Among the most common and damaging of natural hazards are thunderstorms, also referred to as severe convective storms. Lightning, tornadoes, straight-line winds, hail and torrential rain from these weather events result in substantial property damage.
Nationwide's E&S Brokerage team is leaning in on technical investments in order to give wholesale brokers the quick, accurate responses they need to place tough risks.
David Nelson, Executive Vice President, E&S Wholesale for Nationwide, E&S and Specialty, said that surplus lines insurers can respond to the market needs of agents and brokers much more quickly than the standard market.
Forever chemicals, or PFAS, are big news today. According to a Bloomberg Law analysis, more than 6,400 PFAS related lawsuits were filed in federal courts between July 2005 and March 2022.
Home prices surged nearly 20% in 2021 — the highest calendar-year increase on record — putting a hold on house buying aspirations for many Americans. A new study from Nationwide found homeowners are making investments to be comfortable in their current homes instead of selling and buying new.
Customers expect manufacturers, suppliers and other parties in the retail chain to deliver safe and reliable products. However, at any point in the production and distribution process, exposures related to design flaws, manufacturing defects, inadequate warnings and unclear instructions can all create product liability.
In addition to our record results and solid financial strength ratings, we also continue to be recognized by a wide variety of organizations for our philanthropy, volunteerism and as a great place to work.
Artisan contractors are essential to a variety of residential and commercial construction projects. Between increased project demand, employee and material shortages and technology advancements, there are a range of trends impacting artisan contractors.
The risk of extreme wildfires isn't going away anytime soon. Hotter summers and other extreme weather coupled with lingering drought have created the ideal environment for intense, large-scale wildfire events over a longer season, in the U.S. and around the world.
John Lopes, Executive Vice President, Programs & Alternative Ventures for Nationwide E&S/S, said that during his long career he's only seen a handful of new products that have scaled to a mainstream program. Check out the full interview.
COVID-19 caused a dramatic shift in the workplace. Many employees were laid off. Others transitioned to remote work. A look at the most frequent types of employment losses to arise from COVID-19 and the return to work.
