Insurance Market Source Summer 2025

INSURANCE MARKET SOURCE | SUMMER 2025 Q U A R T E R LY I N S I G H T S F O R B R O K E R S A N D A G E N T S

NEWS YOU CAN USE

WEBINAR: CONSTRUCTION INSURANCE

E&S Strategies for a Growing Market The construction industry continues to thrive in 2025, despite elevated interest rates, evolving tariff policies, and broader market uncertainties.

In this webinar hosted by Denis Brady, President, Burns & Wilcox, Brokerage Division, San Francisco, California, our experts explored key E&S strategies and coverage considerations, focusing on: Owner’s Interest Policies, Swimming Pool Contractors, and Artisan and General Contractors.

EXPERT INSIGHTS

"When you have an Owner's Interest Policy, and you combine a robust contract with the owner and the General Contractor, the right additional insured forms and a well-written Commercial General Liability policy for the General Contractor, the owner is completely protected."

— David Gross, Managing Director, Broker, Casualty, Burns & Wilcox, Brokerage Division, North Dallas, Texas

“There are plenty of contractors out there who have a true pollution exposure. This should be addressed with a standalone Pollution Environmental policy, as their exposure is greater than what might be covered under the General Liability policy that may be offering a small Pollution sublimit."

— Amber Carver, Vice President, Associate Managing Director, Underwriter, Burns & Wilcox, Salt Lake City, Utah

“When a risk comes to me, it is usually due to claims activity or a new venture. However, some operations are pretty much always in the Excess & Surplus market such as tree trimmers, directional boring contractors, and roofers.

— Grant Burger, Underwriter, Commercial Insurance, Kansas City, Kansas

VIEW RELATED RESOURCES

$4.5M Ice Cream Sandwich Recall Prompts Lawsuit Against Insurance Broker Crave Better Foods, the maker of Chipwich ice cream sandwiches, is suing its insurance broker for allegedly failing to secure coverage that could have helped offset $4.5 million in losses during a 2024 listeria-related recall.

“Insurance agents need to protect themselves in the event of something like this. Most agents know that they cannot really operate and do serious business until they have their own E&O Insurance policy in place.”

— Marcos Abel Baeza, Senior Broker, Professional Liability, Burns & Wilcox, Dallas/Ft. Worth, Texas

FEATURED SOLUTIONS Errors & Omissions

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Cyber/Privacy/Technology/Media Manufacturing & Distribution

Personal Liability Insurance

$4.2 Million Verdict Reflects Rise in Dog Bite Claims A jury recently awarded $4.2 million to an 82-yearold woman who suffered significant injuries when she was attacked by a neighbor’s dog.

The cost of dog biterelated injury claims increased 18.3% in 2024.

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“It is up to the homeowner to read their policy and understand any exclusions, and it is up to the broker to educate them about that as well.”

— Anella Bengel, Associate Vice President, Consolidation, Regional Practice Leader, Burns & Wilcox, Morehead City, North Carolina

WEATHERING THE RISK: 2025 CAT SEASON From coastlines to canyons, 2025 is expected to be another high-risk year for catastrophic (CAT) weather events.

An above-average Atlantic hurricane season is forecasted, and wildfire threats are intensifying across the U.S. and Canada.

As a result, property owners and insurance professionals must take action now.

Preparation, mitigation, and awareness of what is—and is not—covered are more critical than ever.

FEATURED INTEL 2025 Wildfire Season Outlook 2025 Hurricane Season Outlook

EXPERT TIPS

"Do not wait until it is hot outside. You want to stay on top of your wildfire mitigation efforts throughout the year.”

— Sylvia Ornelas, Associate Vice President, Director, Personal Insurance, Burns & Wilcox, Woodland Hills, California

“A huge part of being prepared for hurricane season is making sure you understand your insurance policy and how it will be utilized when you have a loss.”

— Berri Willis, Vice President, North Carolina & South Carolina, Managing Director, Burns & Wilcox, Morehead City, North Carolina

"Make sure you are carrying an insurance limit that would properly account for the cost of reconstruction if there was a loss.”

— John Heaner, Associate Vice President, Regional Director, Commercial Insurance, Burns & Wilcox, Tampa, Florida

FLOOD INSURANCE What are the most pressing challenges regarding Flood Insurance today?

Our biggest issue is education in what a Flood Insurance policy covers. We spend a lot of time educating brokers, which is part of the value we bring as flood experts. From the homeowner’s side, there is an education gap on when they should buy coverage.

Just because you are not in a flood zone does not mean your house cannot flood.

— Jacob Martin Manager, Flood Burns & Wilcox Charlotte, North Carolina

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HABITATIONAL INSURANCE Why is more of this business shifting to Excess & Surplus (E&S) lines?

Standard markets are not renewing certain risk exposures like aging properties and certain geographic areas such as convective wind locations and wildfire exposures. We are seeing a shift in the market and that brings more opportunities to Burns & Wilcox to partner with retail agents and provide solutions in the E&S marketplace.

— Teresa Cowper Broker, Property Burns & Wilcox Brokerage Division Atlanta, Georgia

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Cheesecake Factory Fire Spreads Through Vents, 100+ Firefighters Respond A fire erupted in the kitchen of a Cheesecake Factory in Seattle, Washington, quickly spreading to the building’s ventilation system.

More than 100 firefighters responded to the fire, which investigators said was caused by a fryer.

“The smoke and water damage from having to put the fire out can be even more expensive than the damage from the fire itself."

— Michael Dunne, Senior Underwriter, Commercial Insurance, Burns & Wilcox, Dallas/Ft. Worth, Texas

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Fan Fall at Ballpark Raises Liability Questions Tied to Alcohol Use A tragic fall at a Major League Baseball stadium is drawing attention to the complex liability issues that can arise when alcohol is involved at large public venues.

“If a venue is found negligent, payouts can be substantial, especially if the injuries are serious and that individual’s life will never be the same. It could be a multi-million-dollar lawsuit if the venue is found liable, so that is where Excess Liability Insurance really comes into play.”

— Derek Federwisch, Underwriter, Commercial Insurance, Burns & Wilcox, Houston, TX

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Want more intel?

Visit burnsandwilcox.com for expert insights and to learn more about our specialty solutions for risks of all sizes.