Tag: Business Insurance

  • Department of Transportation Audit

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    Business Issue A McGriff client received notice of an unexpected Department of Transportation (DOT) audit with only three days to prepare. Very concerned, they contacted their McGriff representative who brought in a consultant with the McGriff Risk Services team. In order to better understand the client’s business, the risk control consultant reviewed their Central Analysis…

  • Private School

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    Business Issue A formal inquiry and request for information was sent by the Justice Department to a school insured through McGriff. The inquiry notice was based on the Sherman Antitrust Act, a federal law that prohibits contracts, combinations, or conspiracies “in the restraint of trade or commerce”. The Justice Department alleged the private school had…

  • Education Practice

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    Business Issue Our client sustained a large property loss when a sprinkler pipe broke and flooded their school. They contacted their McGriff Risk Services claim consultant to discuss the situation. Because the building was leased and still within the one year “guarantee” provided by the building owner, the consultant advised the client the building owner…

  • Dairy Farm

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    Business Issue As a result of a severe storm with heavy rain and high winds, a McGriff client in the dairy farm business sustained property damage to four buildings and some business equipment. The damaged equipment was used to plant corn and water the crops. It was the beginning of the planting season for our…

  • Condominium Association

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    Business Issue A tropical storm caused an interruption of power to a client’s fire pump system which was permanently installed in a pump house on the premises. When the power came back on, the surge caused the pump to run excessively and catch fire. The client immediately replaced the system to keep their property owners…

  • Energy Client: Transformer Asset Management

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    Business Issue A McGriff Energy client had suffered a number of transformer property losses, with about $10 million in gross claims over a 4-year period. Aged units combined with a lack of maintenance and testing management programs were partly to blame. The participating insurance panel was no longer comfortable with the account risk quality and…

  • McGriff Market Update: Q2 2025

    McGriff Market Update: Q2 2025

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    Summary With the exception of Commercial Auto and Umbrella, all other insurance lines showed lower premium increases in Q1 2025 than in the last quarter of 2024, signaling softened market conditions, according to the most recent report from The Council of Insurance Agents & Brokers (CIAB). Read the Market Update (PDF)

  • Weathering the Storm 2025

    Weathering the Storm 2025

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    Summary 2024 brought another active year for weather and climate disasters in the United States. There were 27 confirmed disaster events exceeding $1 billion according to NOAA’s National Centers for Environmental Information (NCEI). These disasters caused at least 568 direct or indirect fatalities, which is the eighth highest for billion-dollar disasters over the last 45…

  • Large Verdicts and Settlements

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    Summary The insurance market continues to be challenging, with persistent rate increases and rising claims costs. Third-party litigation funding, anti-corporate bias, and nuclear verdicts are exacerbating claims severity in the industry. Read this detailed summary of key verdicts from 2020-2025. Read the Summary (PDF)

  • McGriff Market Update: Q4 2024

    McGriff Market Update: Q4 2024

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    Summary The overall Property and Casualty insurance market continued to stabilize throughout 2024, with most rate increases continuing to decelerate year over year. This includes the Commercial Property market, even post Helene/Milton, as insured losses continue to accumulate. The Umbrella market is an outlier, with higher rate and premium increases and reduced capacity for the…