Sat.Sep 21, 2024 - Fri.Sep 27, 2024

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Why US Home Insurance Rates Are Rising Fast – Climate Change Plays a Big Role

Insurance Journal

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country.

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CBS 60 Minutes to Run Story Regarding Altered Insurance Estimates Resulting in Fraudulent Underpayments to Policyholders

Property Insurance Coverage Law

The American Policyholders Association (APA) has reported that CBS 60 Minutes is running a story this Sunday evening about altered estimates by claims managers, which result in underpayments to policyholders. The APA notice states that “a disturbing scandal” uncovered by Merlin Law Group attorney Steven Bush and the APA resulted in whistleblowers reporting on insurance … The post CBS 60 Minutes to Run Story Regarding Altered Insurance Estimates Resulting in Fraudulent Underpayments to Poli

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4 Ways to Build and Maintain Relationships with Clients

Solstice Insurance Broker

Options, options, options. Whether it’s having over 30 different brands of toothpaste to choose from, or hundreds of cable channels, consumers have choices. This also applies to employer groups. They have a lot of options when it comes to choosing which broker they partner with; so, why should they choose you? The key is knowing how to successfully build and maintain relationships with clients , where they know that their needs are your priority.

Building 230
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Indonesian-flagged cargo vessels collide

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Indonesian-flagged cargo vessels collide appeared first on Insurance Marine News.

Marine 105
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State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P

Insurance Journal

State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis.

Insured 312
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Michigan Takes a Stand: New Bulletin Prohibits Depreciation of Labor Costs in Property Insurance Claims

Property Insurance Coverage Law

In a significant move to protect policyholders, the Michigan Department of Insurance and Financial Services (DIFS) issued a groundbreaking bulletin that explicitly prohibits insurers from depreciating labor costs when calculating actual cash value (ACV) in homeowner insurance claims. 1 This decision aligns Michigan with a growing number of states taking action to ensure fair claim … The post Michigan Takes a Stand: New Bulletin Prohibits Depreciation of Labor Costs in Property Insurance Cl

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Unlocking The Full Potential of Broker Commission | Solstice

Solstice Insurance Broker

In the highly competitive field of health insurance sales, agents are constantly seeking ways to enhance their commissions. Distinguishing your business from the competition is essential.

Broker 147

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Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index

Insurance Journal

For the fourth time in six years, cyber risk ranked highest as a concern for business leaders. In fact, this year cyber as a top concern reached an all time high, according to the 2024 Travelers Risk Index.

Cyber 282
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Is the Address Correct on the Property Insurance Policy?

Property Insurance Coverage Law

In my basic course about property insurance coverage to public adjusters, and as a standard issue regarding case intake at Merlin Law Group, I first emphasize to always make certain the named insureds and clients have a right to bring the claims. There is a practical aspect of this—you want to represent people and businesses … The post Is the Address Correct on the Property Insurance Policy?

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The Enemy Within – Insider Threat Awareness

Cowbell

National Insider Threat Awareness Month (NITAM) is observed every September and is a collaboration between U.S. federal agencies and industry organizations to educate and emphasize the importance of detecting, deterring, and reporting insider threats. The goal is to raise awareness of the risks posed by ‘insiders,’ and provide strategies, tools, and resources to identify and mitigate these threats.

Cyber 104
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FBI boards another Synergy containership in Baltimore

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post FBI boards another Synergy containership in Baltimore appeared first on Insurance Marine News.

Marine 105
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Tallahassee, Atlanta Dodge a Bullet, But Thousands of Claims Are Expected

Insurance Journal

Hundreds of claims adjusters were set to move out across Florida, Georgia and western parts of the Carolinas Friday morning as Hurricane Helene brought high storm surge and 140 mph winds to a region that has faced three hurricanes in …

Claim 272
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Florida’s Insurance Company Fraud Investigations: A Crisis of Public Trust (With a Side of Absurdity)

Property Insurance Coverage Law

As an attorney who has dedicated my career to representing policyholders, I’ve witnessed firsthand the challenges faced by Florida homeowners, businesses, condominium associations, and even government entities in the wake of natural disasters. However, recent developments in Florida’s handling of insurance company fraud allegations have raised serious concerns about the efficacy of our regulatory bodies … The post Florida’s Insurance Company Fraud Investigations: A Crisis

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Why Does it Benefit Me to Have the Same Home Insurance Agency as My Condo or Townhome HOA?

Wren Insurance Agency

If you live in a condo, townhome, or HOA community, it's likely your association has a variety of insurance coverages on the community to protect you, your neighbors and guests on the complex's common grounds like the pool, clubhouse, gym and walkways. What you may not know is that it may benefit you to have the insurance agency for your home as your community association.

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Denmark sets restrictions for ammonium nitrate vessel’s transit

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Denmark sets restrictions for ammonium nitrate vessel’s transit appeared first on Insurance Marine News.

Marine 105
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FBI Disrupts Vast Chinese Hacking Operation That Infected Consumer Devices

Insurance Journal

The FBI has disrupted a group of hackers working at the direction of the Chinese government who targeted universities, government agencies and other organizations, Director Chris Wray said last week.

Cyber 281
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Timely Payment of an Appraisal Award Does Not Mean the Claim Was Handled in Good Faith

Property Insurance Coverage Law

Timely payment of an appraisal award should not be a “Get Out of Jail Free Card” for an insurer guilty of bad faith claims conduct. A federal court in Louisiana recently denied most of an insurer’s motion for summary judgment in a bad faith case arising from a disputed winter storm damage claim. 1 The … The post Timely Payment of an Appraisal Award Does Not Mean the Claim Was Handled in Good Faith appeared first on Property Insurance Coverage Law Blog.

Claim 176
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Icon Energy lines up acquisition firepower 

Splash: Finance and Insurance

Nasdaq-listed Greek bulker outfit Icon Energy has built up financial firepower for future vessel acquisitions as it takes delivery of its first-bought kamsarmax since its IPO earlier this year. The Ismini Panagiotidi-led company said it has about $75m ready for potential fleet expansion as part of a $91.

Insured 98
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Brokers launch port disruption insurance

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Brokers launch port disruption insurance appeared first on Insurance Marine News.

Broker 105
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New York City Weighs Slashing Cab Insurance 75% to $50,000 to Aid Drivers

Insurance Journal

The New York City Council will introduce legislation this week that would drastically reduce the amount of insurance coverage taxi and ride-share vehicles are required to maintain, looking to contain potential fallout from the insolvency of the city’s largest taxi …

Insurance 262
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Insurance Company Prevails in Hail Damage Claim Dispute—Policyholders Need to Hire Experts Right Away and Provide Access to Information

Property Insurance Coverage Law

A recent federal court ruling in Missouri highlights the critical importance of admissible expert testimony in property insurance disputes. In a case involving alleged hail damage to a commercial building, the court granted summary judgment in favor of the insurer, Charter Oak Fire Insurance Company, after excluding the policyholder’s expert witness. 1 The policyholder, BLIV, … The post Insurance Company Prevails in Hail Damage Claim Dispute—Policyholders Need to Hire Experts Right A

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Better Medicare Alliance Report: State of Medicare Advantage 2024

PSM Brokerage

State of Medicare Advantage 2024 Better Medicare Alliance | Report Download The Medicare Advantage program is expanding and becoming increasingly diverse, serving as an affordable healthcare option for many Medicare-eligible seniors in America. This growth is driven by the program's ability to offer comprehensive coverage, including additional benefits such as vision, dental, and wellness programs, which are not typically covered under traditional Medicare.

Agents 85
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New approach reported off Yemeni coast

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post New approach reported off Yemeni coast appeared first on Insurance Marine News.

Marine 105
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AI Being Used to Scam Small Business Owners, Says Nationwide Survey

Insurance Journal

Just when employees have learned to ignore scammy texts and emails from the boss, along comes the next generation of impersonation using artificial intelligence. Cybercriminals increasingly use generative AI, including voice calls and video, to scam businesses.

Cyber 262
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The Deadline to Properly Submit a Hurricane Ian Claim Is September 28 – Double Check Claim Submissions

Property Insurance Coverage Law

Claims deadlines and submittals are no longer easy for Florida policyholders. Thanks to many recent legislative changes, which many Florida’s politicians wholeheartedly supported, Florida policyholders now have intricate claims requirements that can spell doom for them and allow insurance companies loopholes to avoid paying otherwise valid claims. It’s hard to keep up with all the changes to … The post The Deadline to Properly Submit a Hurricane Ian Claim Is September 28 – Double Che

Claim 156
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Delta Corp revives US listing plans

Splash: Finance and Insurance

Mudit Paliwal-led Delta Corp Holdings has rekindled ambitions for a NASDAQ listing via a merger deal with US distributor of vaping products Kaival Brands.

Insured 90
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OSHA fines Ohio shipyard: cites several violations in March 2024 fire

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post OSHA fines Ohio shipyard: cites several violations in March 2024 fire appeared first on Insurance Marine News.

Marine 103
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Columbia Insurance to Transfer Personal Auto, Umbrella Books to Safeco

Insurance Journal

Safeco Insurance, a Boston-based Liberty Mutual Insurance company, said it has entered into a book transfer agreement with Columbia Insurance Group, a Central and Midwest regional carrier.

Insurance 262
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4 factors impacting car insurance rates right now.

Frankenmuth Insurance

Like many products and services these days, car insurance rates have also been on the rise. Wondering what’s driving the rates and what you can do? To help you understand the current landscape, we’re breaking down four of the main factors affecting car insurance rates today. Read on to find out what they are. Factor #1: Higher vehicle repair and replacement costs.

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Blog Post: USCIS Affirmative Asylum Case Backlog: 1,252,235 Cases

LexisNexis

In pending litigation in federal district court in Alexandria, Virginia, USCIS Asylum Division Chief John L. Lafferty provided this sworn declaration dated July 26, 2024.

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VLCCs and suezmaxes move over to products carrying

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post VLCCs and suezmaxes move over to products carrying appeared first on Insurance Marine News.

Marine 102
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Zillow Listings Will Now Highlight Climate Risks, Insurance Info

Insurance Journal

For-sale listings on Zillow will now feature detailed climate risk information for five key categories — flood, wildfire, wind, heat and air quality — along with insurance recommendations, according to the online real estate company.

Risk 258
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How Employers Can Advance the 2024 National Strategy for Suicide Prevention

CDC: Workers Compensation

Suicide is a serious public health threat. In 2022 in the United States, nearly 50,000 adults died by suicide, 13.2 million adults seriously considered suicide, 3.8 million planned a suicide attempt, and 1.6 million attempted suicide.[1] In that same year, 267 adults died by suicide while at work in the United States.[2] That is one person dying in the workplace by suicide every workday in a year.

Risk 95
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The Next Gen Agent’s Super Suit: Insurance Distribution Management

Majesco

As long as there have been superheroes, there have been super suits. The suit’s original purpose was to distinguish the superhero from the average person on the street and to give them a brand of their own. When the superhero showed up, everyone knew, “Here’s our hero.” But even if the super suit began as a symbol, it quickly evolved (as writers grew more creative) into a tool with its own powers.

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Huge fire on luxury yacht causes California oil spill

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Huge fire on luxury yacht causes California oil spill appeared first on Insurance Marine News.

Marine 99
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Shippers Scramble for Workarounds Ahead of Threatened Port Strike

Insurance Journal

U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct.

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Blog Post: California: Shipley’s Ship Has Sailed, But on 7/2/2024, LC 5909 Came to the Rescue

LexisNexis

By Hon. Colleen Casey, Former Commissioner, California Workers’ Compensation Appeals Board Just when you thought the right of “due process” was on the brink of destruction, the legislature amended Labor Code section 5909 to ensure it survives, at least in the realm of a true and complete judicial review for ALL “Petitions for Reconsideration and Removal, (hereinafter “Petitions for Recon.”).