Go to WSRB
Go to BuildingMetrix
CREATE AN ACCOUNT
LOG IN

About the Company 

Who we are and how we help property insurers and agents throughout the U.S.

CEO Perspective

Engaging thought leadership on key insurance industry issues from our CEO 

Meet the Team

Get to know the team of property insurance experts at WSRB, our parent company 

InsuranceEDGE

Keep up with changes in the P&C industry with our weekly newsletter. 

Help Center

Get step-by-step how-to articles on all BuildingMetrix data products. 

BuildingMetrix Blog

Learn about key insurance trends and how data helps you navigate them. 

PropertyEDGE

Discover our map-based application with the data you need all in one place.  

 

May 27, 2021 Edition

 
Headlines
 
 
 
Only 25% of companies are evaluating or modeling the longer-term impact of emerging risks on their business. Most businesses focus instead on perils posing imminent threats, creating the potential for a cascade of harmful impacts on their customers. 
 
 
As bad as last year’s record-shattering fire season was, the U.S. West starts this year’s in even worse shape. The vegetation is primed to ignite, especially in the Southwest where dead juniper trees are full of flammable needles. “It’s like having gasoline out there,” said one forest manager.
 
 

 

Business
 
 
 
Neither COVID-19 nor legislation enacted because of it has seriously harmed the creditworthiness of the property-and-casualty insurance sector, says a new report. Businesses have filed about 1,700 business-interruption claims because of COVID-19 shutdowns, but those cases are largely being decided in favor of insurers.
 
The global microchip shortage, scarcity of rental cars and increasing building material prices are all leading to higher prices for auto and home insurance. The question for insurers is whether premium increases will be big enough, especially because it's unclear when, and if, people will return to their pre-pandemic habits.  
 
 
Commercial insurance prices rose by an average of 10% across all size accounts, an increase that was lower than the increases from the previous two quarters. But, troubled lines like cyber and umbrella saw much higher price hikes.
 
Contractors, especially those performing vegetation management or transmission and distribution line work, have seen rapidly accelerating insurance rates or a lack of available coverage, forcing some of them to decline work, brokers say.
 
 

 

Education
 
 
 
Low pay, competition from fire departments and exhaustion from longer, more devastating fire seasons have hurt the U.S. Forest Service's ability to hire and retain firefighters.
 
 
Learn the special risks legal marijuana growers, processors and retailers present to property insurers and find out how to locate and minimize these risks.
 
 
Social media offers businesses a low-cost way to market themselves, but experts warn that if it’s not properly managed or insured, social media can lead to unexpected high costs. 
 
 
Consumer Reports and the Insurance Institute for Highway Safety have identified cars, SUVs and minivans that balance accident avoidance, crash protection, performance and reliability.
 
 

 

Environment
 
 
 
The water crisis along the California-Oregon border went from dire to catastrophic this week as federal regulators shut off irrigation water to farmers from a critical reservoir and said they would not send extra water to dying salmon downstream or to a half-dozen wildlife refuges that harbor millions of migrating birds each year.
 
 

 

Innovation
 
 
 
Technological advancements help wildfire forecasters, incident commanders and land managers as they race to join the battle that rages across the West every summer.
 
Who's at fault when a self-driving car hits another car or a pedestrian? The industry says it needs a clear answer before it can test and then sell autonomous vehicles.
 
 

About InsuranceEDGE

 

 

Curated weekly by BuildingMetrix experts,  InsuranceEDGE helps you work smarter. You don't want to miss an issue. Get InsuranceEDGE delivered to your inbox every Thursday. BuildingMetrix is a WSRB company. 
 
 
 

 

 Share this edition of InsuranceEDGE
 
 
 
 

About InsuranceEDGE

Get this week’s essential stories from the world of property insurance, curated by WSRB’s industry veterans. Never miss an issue.

IE-earthquake