During the coronavirus pandemic, it is imperative that independent agents stay engaged with their clients and provide guidance on changes and developments in the professional liability market. COVID-19 sprung many changes on businesses, some good, some bad—but either way, keeping clients up to date on market conditions, risk trends and risk management options is more…
Cannabidiol (CBD) sales in the U.S. will surpass $20 billion by 2024. The biggest emerging trend in product liability insurance, the CBD market has unique challenges.
Insurers have had their work cut out for them over the past couple of years, especially liability insurers. Recent developments are steering a significant shift to a hard product liability market.
Munich Re’s Battery Performance Warranty Cover product is one of the first coverages in the world to make battery performance insurable.
As product recalls become more frequent and extensive, manufacturers of all sizes are taking notice. While The Hanover has offered product withdrawal coverage for many years, a recent product expansion adds liability and additional expenses.
Food recalls per year in the U.S. have almost doubled since 2002, and 2015 marked a record year for auto recalls, according to recent studies—but what’s driving the trend?
Discontinued products that remain in the stream of commerce can still cause injury or damage. And unless your clients still have a product liability policy in place when the injury or damage actually occurs, they won’t have coverage.
Like most commercial lines, the product liability insurance market is competitive this year. But it’s not just soft pricing changing the game. Here are four facts about product liability that may surprise you and your commercial clients.
