Tue.May 06, 2025

article thumbnail

NFIP Escapes Payment with Form Over Substance Rules: The Need for Reform of the National Flood Insurance Program

Property Insurance Coverage Law

A recent appellate decision in Woodland Villas Condominiums v. Wright National Flood Insurance Company 1 highlights a harsh reality for policyholders seeking to recover under the National Flood Insurance Program (NFIP).Strict compliance with federal procedural requirements, especially the federal proof of loss requirement, can override substantive claims for damages, even when there is no real … The post NFIP Escapes Payment with Form Over Substance Rules: The Need for Reform of the Nation

article thumbnail

Florida Condo Bill Gives Owners Some Slack But Brings Big New Insurance Concerns

Insurance Journal

Florida lawmakers late last week gave final approval to a long-debated condominium bill, one designed to give condo owners a little relief on the high cost of bringing structures up to code.

Insurance 270
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Hidden Costs of a Bad Hire: Why Employers Can’t Afford to Ignore Hiring Risks

AMAXX

Hiring new employees is often viewed as a fast-paced race to fill open roles. Production deadlines are looming, teams are understaffed, and the pressure to get someone in the door often outweighs the discipline of a thorough vetting process. But when it comes to the workers compensation system, a rushed or poorly evaluated hire can be far more costly than leaving a role vacant for a few extra weeks.

article thumbnail

Berkshire Shareholders Reject Diversity, AI Proposals

Insurance Journal

Berkshire Hathaway shareholders on May 3 rejected a resolution requiring the company to report on risks from its subsidiaries’ race-based initiatives, one of seven proposals tied to diversity, artificial intelligence and other issues that were voted down.

Risk 252
article thumbnail

Leverage Trellis Court Data To Identify More Investment Opportunities

Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.

article thumbnail

From Integrity Tests to Physical Exams: A 6-Step Hiring System to Reduce Workers’ Comp Claims

AMAXX

Hiring is more than finding the right resume or filling a seatits the first and most important line of defense in preventing workplace injuries and reducing workers comp costs. Employers struggling with first-year injuries, high turnover, or repeat claims often have something in common: a reactive hiring process. Theyre moving fast, skipping steps, and taking on avoidable risk.

More Trending

article thumbnail

Port operations in Bandar Abbas still badly affected

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Port operations in Bandar Abbas still badly affected appeared first on Insurance Marine News.

Marine 101
article thumbnail

Smoke Shop Ordered to Pay $4.9 Million for ‘Persistent Illegal Cannabis Sales’

Insurance Journal

Connecticut Attorney General William Tong has secured a $4.93 million judgment against Planet Zaza of East Haven and its owner, Mohamed Alraishani, following “persistent illegal cannabis sales in spite of a court order and repeated law enforcement visits.

238
238
article thumbnail

NGO claims that Malta will not let drone-hit vessel into port

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post NGO claims that Malta will not let drone-hit vessel into port appeared first on Insurance Marine News.

Claim 96
article thumbnail

Hurricane Forecasts Are Better Than Ever But NOAA Cuts Could Change That

Insurance Journal

(THE CONVERSATION) The National Hurricane Center‘s forecasts in 2024 were its most accurate on record, from its one-day forecasts, as tropical cyclones neared the coast, to its forecasts five days into the future, when storms were only beginning to come …

237
237
article thumbnail

Take the Hassle Out of Claims Management

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

article thumbnail

Venezuela loses 20% of oil exports after Chevron shipments are cancelled

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Venezuela loses 20% of oil exports after Chevron shipments are cancelled appeared first on Insurance Marine News.

Marine 76
article thumbnail

People Moves: Aon Promotes Lyons to Bermuda CEO of Reinsurance; BHSI Appoints Munden to Lead New UK Programs Business

Insurance Journal

Aon Promotes Lyons to Bermuda CEO of Reinsurance Insurance broker Aon plc announced that Amanda Lyons had been appointed CEO of Aon Reinsurance Solutions Ltd. in Bermuda, effective July 1. The appointment is subject to regulatory and immigration approvals.

article thumbnail

From First-Day to Fully Trained: The Overlooked Power of Onboarding in Injury Prevention

AMAXX

Most companies understand onboarding as a box to checkhand the employee manual to a new hire, give them a tour, and hope they learn quickly by doing. But whats often missed is that onboarding is one of the most critical safety tools in a companys injury prevention strategy. Injury rates dont spike after years on the jobthey surge within the first few days and weeks of employment.

Injury 59
article thumbnail

Copper Cable Theft in Spain Delays Thousands of High-Speed Rail Passengers

Insurance Journal

Thousands of rail passengers in Spain were hit with delays after copper cables used in the signaling system of a high-speed line traveling south from Madrid to Seville were stolen at five locations, authorities said Monday.

Theft 221
article thumbnail

Doubling Down on Insurance Marketing: Build Your Brand When Others Pull Back

Neilson Marketing Services

When budgets tighten, marketing is sometimes one of the first things on the chopping block. It feels logical cut the non-essentials to save money. If youre in insurance, however, and youre thinking about pulling back on your insurance marketing , think again. Now is exactly the time when you need to lean in. People are re-evaluating everything: what they spend, how they protect their families, and which businesses they trust including their insurance providers.

article thumbnail

DoorDash Is Latest Tech Firm to Commit Millions to New York City Elections

Insurance Journal

DoorDash Inc. is committing $5 million to back political candidates in New York City and state-level races in New Jersey this year, becoming the latest technology company to disclose its lobbying efforts ahead of local elections in the tristate area.

219
219
article thumbnail

Blog Post: Will Other States Follow Arkansas in Allowing Parents to Sue Social Media Companies?

LexisNexis

On April 21 Arkansas Gov. Sarah Huckabee Sanders (R) signed into law a bill giving parents the right to sue social media companies for harms caused by their content. The measure, SB 612 , establishes a private right of action for parents to sue social media companies that knowingly or willfully contribute to harmful behaviors by minors through the content they publish.

article thumbnail

People Moves: Encova Insurance Names Lingala EVP and CIO

Insurance Journal

Encova Insurance, headquartered in Columbus, Ohio, hired Ramu Lingala as the successor to Tony Laska, executive vice president and chief information officer. Laska announced his plans for retirement at the end of 2025 last year. Lingala joined Encova in February.

Insurance 214
article thumbnail

How to Change Home Insurance with Escrow: A Step-by-Step Guide

TGS

TGS Insurance Blog Sajeduil- stock.adobe.com Changing your home insurance when your mortgage includes an escrow account can seem daunting, but it doesnt have to be. At TGS Insurance, were here to simplify the process for you. This guide will walk you through how to change home insurance with escrow, ensuring a smooth transition without disrupting your mortgage payments.

article thumbnail

US Seeks Forced Sale of Google Ad Technology Products

Insurance Journal

Alphabet Inc.’s Google should be forced to sell off two of its businesses that help websites buy, sell and serve online advertising after a judge found the company illegally monopolized those markets, the Justice Department said.

214
214
article thumbnail

Blog Post: Why A Contract Playbook Is A Good CLM Tool

LexisNexis

Before we dive into the what and why of contract playbooks in the legal department, its important to explore contract lifecycle management , what that is, and why it is important to the legal team in a corporate enterprise environment. What Is Contract Lifecycle Management In the legal department, contract lifecycle management software integrates with enterprise legal management software.

Risk 52
article thumbnail

Renewal Rates Continue Upward YOY for Most Commercial Lines: Ivans Index

Insurance Journal

Premium renewal rates increased year-over-year for all major commercial lines, except workers’ compensation, according to first quarter 2025 results of the Ivans Index. Compared to fourth quarter 2024, all lines experienced a decrease in average premium renewal rates except umbrella.

article thumbnail

Additional progress in salvage of MSC Baltic III

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Additional progress in salvage of MSC Baltic III appeared first on Insurance Marine News.

Marine 66
article thumbnail

Business Moves: Gallagher Acquires Turkish Re/Insurance Broker Aspera

Insurance Journal

Gallagher announced it has acquired Turkey-based Aspera Sigorta ve Reasrans Brokerlii A.. (Aspera). Terms of the transaction were not disclosed. Established in 2022, Aspera is a boutique insurance and reinsurance broker specializing in industrial property, power & energy, plus construction.

Broker 194
article thumbnail

Maersk Sana will have to wait a few days for salvage tug

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Maersk Sana will have to wait a few days for salvage tug appeared first on Insurance Marine News.

Marine 66
article thumbnail

Burger King Must Face Lawsuit Over Whopper Ads

Insurance Journal

Burger King must face a lawsuit claiming it misleads customers with advertisements that make its Whopper sandwich and other products appear larger than they are. In a decision on Monday, U.S.

Claim 191
article thumbnail

Smaller shipowners in danger: Geneva Dry risk workshop

Splash: Finance and Insurance

It was a standing room during a specialist workshop at the opening day of the second edition of Geneva Dry that saw panellists turn their attention to various aspects of risk management for dry bulk shipowners and operators.

Risk 60
article thumbnail

NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years

Insurance Journal

A net 30,000 New Yorkers fled the city for Florida’s Palm Beach and Miami-Dade counties in the five years through 2022, taking with them a combined $9.2 billion in income, a new report shows.

article thumbnail

Explore the New PSM Marketing Hub Catalog

PSM Brokerage

The Secret Sauce to Standing Out as an Agent? We've Got It. Lets be realmarketing your insurance business can feel like trying to build IKEA furniture without instructions. You know what it should look like, but getting there? Thats another story. Thats where the PSM Marketing Hub steps in. We just dropped our brand-new Marketing Hub Catalog , and its packed with the kind of stuff that makes agents look like marketing proseven if theyve never opened Canva in their life.

Agents 52
article thumbnail

Lemonade Posts Q1 Loss on Wildfires, Spending; Auto Product Positioned to Grow

Insurance Journal

Insurtech Lemonade reported a first quarter 2025 net loss of about $62.4 million compared to a loss of $47.3 million a year ago during the same time.

article thumbnail

Mastering Inland Marine Insurance: A Broker’s Guide

Distinguished

Imagine a contractor arriving at a job site only to find their $250,000 excavator stolen overnight. Or a trucking company facing a total loss after a rollover accident destroys both the vehicle and its cargo. Without inland marine coverage, these businesses would face significant financial losses that standard property insurance doesnt cover. Despite its name, inland marine insurance has nothing to do with boats.

article thumbnail

Business Moves: Earnix Agrees to Acquire Insurtech and AI Specialist Zelros

Insurance Journal

Earnix, the software-as-a-service (SaaS) specialist, announced it has signed a definitive agreement to acquire Zelros, the Paris-based insurtech and developer of artificial intelligence solutions. Financial details of the deal were not disclosed.

179
179
article thumbnail

Syndicate Results 2024 No. 24 Munich Re 1840

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Syndicate Results 2024 No. 24 Munich Re 1840 appeared first on Insurance Marine News.

Marine 52