Hurricane Sandy was the most recent example of the devastating havoc Mother Nature can wreak on coastal communities. But that isn’t stopping people from moving along the shore and building from taking place. In fact, recent estimates from the National Oceanic and Atmospheric Administration (NOAA) and the U.S. Census Bureau shows that our already-crowded coast will see population grow [...]
Towers Watson, a global professional services company, recently released its latest Commercial Lines Insurance Pricing Survey (CLIPS), indicating that insurance prices rose by almost 7% in aggregate during the fourth quarter of 2012. This marks the eighth consecutive quarter of price increases and the fourth showing increases across every line surveyed. Workers Compensation and Employment [...]
We’ve been talking a lot about Sandy and the residual effects of the hurricane that hit the Northeast last October. And in the coming months we’ll continue to do so as different issues continue to arise, putting insurance in the spotlight as businesses and residents learn about what is and isn’t covered during the claim process. One of the [...]
After years of delaying capital expenditures, hotel companies are now taking the opportunity to renovate their properties. In fact in 2012, we saw more hotels renovating lobbies, restaurants, bars and fitness centers, and this trend will continue into 2013. Also, with the volume and scope of renovations increasing, large and small contractors that provide products and services [...]
Superstorm Sandy’s impact will be far-reaching for months and years ahead, as the hardest-hitting areas in New Jersey, New York, and Connecticut grapple with cleanup and rebuilding. What’s more, many issues have reared their heads in the wake of Sandy – from business interruption issues, supply chain disruptions, and flood coverage disputes to building code regulations and [...]
Travel and hospitality is the world’s largest industry, with the World Travel and Tourism Council predicting revenues in excess of $15 trillion by 2017. Over 50% of all travel reservations are now made online, including hotel reservations, with data collected and stored that may include: names, addresses, personal email addresses, and of course, financial data [...]
The total cost of Superstorm Sandy’s damage on the East Coast are still unknown, with estimates of in excess of $50 billion in economic losses, and between $20-$25 billion in insured losses, according disaster-modeling company Risk Management Solutions. The human suffering and devastation, of course, is immeasurable with the death toll at about 160 and [...]
