Thu.Jan 16, 2025

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FBI Warned Agents It Believes Phone Logs Hacked Last Year

Insurance Journal

FBI leaders have warned that they believe hackers who broke into AT&T Inc.

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Badger Bazookas Merlin!

Property Insurance Coverage Law

I lost an entire appraisal debate in the first few minutes against Good ole Steve Badger. Simply knocked out. Badger got up early in the morning and read yesterdays post,Participate In Your DemocracyEven If You Are Called a Bazooka. He must be taking some type of mind-enhancing drug because his creativity has never been keener. … The post Badger Bazookas Merlin!

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A Los Angeles Actuary on Lessons From the Palisades Fire

Insurance Journal

I watched as the skies over my home in Los Angeles turned an apocalyptic orange on January 7, 2025, as wildfires raged across the state.

Insurance 330
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How to Protect Your Construction Company from a Cyberattack

Central Insurance

In todays rapidly evolving digital landscape, the construction industry faces increasing exposure to cyber risks. Data breaches, ransomware attacks, and phishing scams have become common threats, highlighting the importance of cyber insurance with resolution services for construction companies. These risks can have severe consequences, including financial losses, reputational damage, and operational disruption.

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Streamline Insurance Claims Management By Analyzing Legal Trends

Insurance professionals use Trellis to streamline claims management by analyzing legal trends, predicting outcomes, and strategizing effectively to serve clients better. Adjusters can evaluate claim validity, estimate settlement amounts, and identify potential litigation risks. Trellis' extensive State Trial Court Data can be leveraged to identify opposing/outside counsel and top mediators for insurance matters, evaluate the risk of new claims by viewing similar claim litigation history, and mor

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Actuary Group Forecasts Climate Change to Have Massive GDP Hit Without Policy Action

Insurance Journal

Here’s stark warning in a new report from a group of actuaries: the global economy could face a 50% loss in GDP between 2070 and 2090.

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Bayer Faces Billions in Payouts for Decades-Old Toxic Mess

Insurance Journal

Bayer AG’s Monsanto unit stopped making toxic PCBs a half century ago, but the legal fallout lingers even as many of the building materials made with the chemicals are no longer used in US homes, schools and factories.

Building 279
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Shuaa Capital lines up $300m for OSV business

Splash: Finance and Insurance

UAE-based asset management and investment banking firm Shuaa Capital has secured a financial boost for its marine offshore support vessel (OSV) segment.

Marine 106
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Perdue Farms to Pay $4 Million For Letting Children Work Hazardous Jobs

Insurance Journal

Perdue Farms will pay $4 million in restitution after it employed children in hazardous occupations at a Virginia plant and let them work past 7 p.m. during the regular school week, the U.S. Department of Labor announced Wednesday.

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Top 5 Metrics Every Insurance Agent Should Track in a CRM for Smarter Decision-Making

InsuredMine

Using a CRM effectively can help your insurance agency operate more efficiently and make informed decisions. By focusing on key metrics such as sales performance and taking a positive customer feedback, you can gain valuable insights into your agency’s effectiveness. By using some of CRM features, you can simplify your agencys processes which can drive to better results.

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Will California’s FAIR Plan Have Enough Cash for Its Wildfire Claims?

Insurance Journal

There has been some question about whether California’s insurer of last resort the FAIR Plan has enough cash on hand to pay for its share of wildfire claims.

Claim 264
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Follow these 6 steps for your next business insurance renewal.

Frankenmuth Insurance

Renewing your business insurance is a chance to ensure your coverage keeps up with your evolving needs. As your business grows, so can your risks, making it essential to review, reassess, and possibly adjust your insurance policy each year. Were breaking down the key steps in the business insurance renewal process so you can feel confident youre covered, protected, and getting the best value for your policy.

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Cyber Insurance Market to Expand as Risks Evolve: Gallagher

Insurance Journal

While 2024 brought record-breaking data-breach costs and evolving cyber risk, all signs point to stable rates and ample capacity in 2025.

Cyber 264
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Blog Post: CA9 Upholds $23M Award Against GEO: Nwauzor v. The GEO Group, Inc.

LexisNexis

Nwauzor v. The GEO Group, Inc. "In 2017, a class of detainees and Washington State each sued GEO in federal court for violations of Washingtons Minimum Wage Act (MWA). The district court consolidated the actions. A jury awarded $17,287,063.05 in back pay damages to the detainee class. After a bench trial, the court awarded $5,950,340.00 in unjust enrichment to Washington State and enjoined GEO from employing detainees without paying Washingtons minimum wage.

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Moody’s Says LA Fire May Pose Risk to Southern California Edison

Insurance Journal

The Eaton Fire in central Los Angeles County poses a potential credit risk to power provider Southern California Edison, which operates electrical lines in the area where the destructive blaze first started, Moody’s Ratings said in a report on Thursday.

Risk 264
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Discover New Sales Opportunities in Senior Insurance Markets

Word & Brown

According to the California Department of Health Care Services (DHCS), California had 6.5 million Medicare beneficiaries in 2021. More than two-thirds (68.1%) were ages 65-79; 11.3% were under age 65; and more than one-fifth (20.6%) were ages 80 or older. KFF, formerly the Kaiser Family Foundation, says that number had grown to 6,889,905 Medicare beneficiaries in the Golden State by 2024.

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Too High? Too Low? BMS Analyzes Early Wildfire Insured Loss Estimates

Insurance Journal

Industry analysts’ early estimates of insurance industry losses for the January 2025 California wildfires have already grown from $8 billion to $40 billion-pluswith many noting that it’s too early for precision in the numbers.

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Reinsurers little exposed to LA fires after retreat from disaster risks

Elmore

Firms intended to backstop frontline insurers raised rates and increased recovery thresholds after losses on prior blazes The post Reinsurers little exposed to LA fires after retreat from disaster risks appeared first on Elmore Insurance Brokers.

Risk 52
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Minnesota Staffing Firm to Pay $300K for Discriminatory Hiring Practices

Insurance Journal

TKO Construction Services, a Minnesota-based staffing company that provides temporary employees for commercial, residential, restoration, heavy industrial and energy construction companies, will pay $300,000 and provide other equitable relief to settle a discrimination lawsuit filed by the U.S.

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Natixis and Generali poised to announce asset management tie-up

Elmore

Fifty-fifty joint venture would bring together 2 of the biggest European investment groups The post Natixis and Generali poised to announce asset management tie-up appeared first on Elmore Insurance Brokers.

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Insurance Council of Provides Expert Tips for Winter Weather

Insurance Journal

With freezing temperatures projected to hit Texas in the coming days, the Insurance Council of Texas is offering instruction on how residents can prepare for and handle winter weather, ensuring their homes and vehicles are ready.

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Blog Post: E-billing Solutions Deliver Data to Manage Legal Spend

LexisNexis

The haves and have-nots will always feel the difference when the topic is e-billing solutions in corporate legal operations. This digital transformation in managing outside counsel billing and invoicing provides critical efficiencies for the law department. Those without e-billing solutions will likely suffer through manual review and processing of vendor payments.

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Jack Daniel’s Parent Firm to Cut Workforce, Close Barrel Plant in Kentucky

Insurance Journal

LOUISVILLE, Ky. (AP) Spirits giant Brown-Forman Corp. said Tuesday it’s reducing its global workforce by about 12% and closing its hometown barrel-making plant in Louisville.

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Understanding Commercial Flood Insurance in the United Kingdom

Property Insurance Centre

Understanding Commercial Flood Insurance in the United Kingdom Flooding has become an increasingly significant risk for businesses across the United Kingdom as climate change intensifies weather extremes. From the catastrophic floods in Carlisle in 2005 to the more recent deluge in London in 2021, businesses in flood-prone areas have faced disruption, financial losses, and complex insurance claims.

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Extreme Ocean Heat Breaks Records in 2024, Creating 2 Mysteries to Solve

Insurance Journal

This past year, 2024, was the warmest ever measured for the global ocean, following a record-breaking 2023. In fact, every decade since 1984, when satellite recordkeeping of ocean temperatures started, has been warmer than the previous one.

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Top financial watchdog warns climate change set to trigger market panics

Elmore

Basel-based FSB says damage caused by floods, droughts and fires threatens broader pullback in lending The post Top financial watchdog warns climate change set to trigger market panics appeared first on Elmore Insurance Brokers.

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Damages Upheld for Man Whose Ex-Girlfriend Shared Nude Photo Without Permission

Insurance Journal

A Massachusetts man who sued his ex-girlfriend over her sharing an unflattering nude photo of him and accessing his personal online accounts without permission has had his $10,280 court award upheld.

Damage 246
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Blog Post: New Lexis+ AI Mobile App Puts Power of Legal AI In Hands of Lawyers on the Go

LexisNexis

By: Tiffany Lloyd , Product Manager The days of lawyers toiling away in law libraries overnight, furiously researching case law and drafting documents in the office, have been replaced by the freedom to work from anywhere. The incorporation of mobile applications into legal workflows has revolutionized the way that lawyers work, offering a degree of flexibility and efficiency that previous generations of hard-charging attorneys could have never imagined.

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King Risk Adds to SW Florida Presence with Bruce Hendry Agency

Insurance Journal

King Risk Partners, a major U.S. brokerage and insurance agency based in Gainesville, Florida, has acquired Bruce Hendry Insurance in Immokalee, Florida, southeast of Fort Myers.

Risk 246
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Blog Post: DED for Certain HK Residents Extended, Expanded (Advance Copy)

LexisNexis

This document is scheduled to be published in the Federal Register on 01/17/2025 "The United States supports the human rights and fundamental freedoms of the residents of Hong Kong. The People's Republic of China (PRC) has continued to significantly erode those rights and freedoms. I am therefore directing an extension and expansion of the deferral of removal of certain Hong Kong residents, regardless of country of birth, who are present in the United States.

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Extreme Cold From NY to Texas Threatens to Topple Records

Insurance Journal

A blast of extreme cold is poised to descend on the central US this weekend before spreading to New York and the rest of the East Coast, testing power grids and threatening to break temperature records.

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Blog Post: What’s New in Practical Guidance – December 2024 Updates

LexisNexis

In December 2024, Practical Guidance introduced a range of new content and updates across various legal practice areas, enhancing the resources available to legal professionals. This month's updates span Bankruptcy, Business Entities, Civil Litigation, Construction, Employee Benefits, Federal Government, Labor & Employment, Real Estate, Tax, and Trusts & Estates.

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Holmes Murphy Expands In Des Moines With Second Location

Insurance Journal

Holmes Murphy announced its expansion into a second location in the Des Moines metro area. The company officially signed a lease for space in the Arcadia building located at 7000 Vista Drive in West Des Moines.

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Blog Post: Expert: Laken Riley Act Could Shift Power From Congress to Courts

LexisNexis

Nicole Narea, Vox, Jan. 16, 2025 "One of the first bills that could be sent to President Donald Trump after he is inaugurated Monday would vastly expand immigration detention and make it easier for states to influence immigration policy. And it has already passed one house of Congress with support from a significant number of Democrats. The federal government will never have enough money or manpower to deport every undocumented noncitizen, said Stephen Yale-Loehr , an immigration law profes

Policy 45