Sat.Aug 31, 2024 - Fri.Sep 06, 2024

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Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses

Insurance Journal

New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition.

Insurance 288
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Man Sets Ex-Wife and House on Fire—Insurer Denies Innocent Co-Insured Recovery

Property Insurance Coverage Law

In doubles tennis, business, and life, choosing the best partner is a key lesson because it usually predicts future success. Brenda Welch made a tragic choice. Brenda Welch and David Morgan married in 2006. Welch owned a home in Lynnwood, Washington, where the couple lived throughout their marriage. The home was subject to a mortgage … The post Man Sets Ex-Wife and House on Fire—Insurer Denies Innocent Co-Insured Recovery appeared first on Property Insurance Coverage Law Blog.

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Top Ladder Safety Practices for Home and Work

Central Insurance

Optimize safety when using a ladder at your home or business with these ladder safety tips from the loss control experts at Central. The post Top Ladder Safety Practices for Home and Work appeared first on Central Insurance Blog.

Insured 130
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Insurance Conferences: A Guide for Agents and Industry Professionals

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Attending insurance conferences is a strategic move for any professional in the insurance industry, whether you are an established agent or new to the field. These industry events are more than just opportunities to learn—they are essential for staying ahead in a competitive market, fostering partnerships, and gaining insights into the future of insurance.

Agents 130
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How One Florida Engineer Charged Others With Fraudulent Insurance Reports, Testimony

Insurance Journal

He’s been called “eccentric,” a “do-gooder,” a “troublemaker” and a whistleblower. And he may be the best friend the Florida property insurance industry has.

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Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement

Property Insurance Coverage Law

I can only imagine that the owner of Opera Block Properties was a student of weather when ordering drain backup coverage—the day before drains backed up. This post highlights an agent’s binding authority under Michigan law and discusses important insurance principles concerning the “completed-loss” and “loss-in-progress” doctrines.

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Hopes that salvage of Sounion will begin soon

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Hopes that salvage of Sounion will begin soon appeared first on Insurance Marine News.

Marine 109

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Canada’s Insurance Sector Faces Deluge of Climate-Related Catastrophe Claims

Insurance Journal

Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustment delays, according to insurance …

Claim 278
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Don’t Depreciate Labor! A Case Appropriate for Labor Day

Property Insurance Coverage Law

Labor Day is the traditional end of summer. I often try to write a special blog for our various holidays. A favorite is Labor Day on the Jersey Shore and the Ocean Sand Exclusion. Given the history of the American labor movement and the importance of organized labor to strike, last year’s post, Is Milk … The post Don’t Depreciate Labor! A Case Appropriate for Labor Day appeared first on Property Insurance Coverage Law Blog.

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Iconic tall ship demasted after being struck by containership in Fremantle

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Iconic tall ship demasted after being struck by containership in Fremantle appeared first on Insurance Marine News.

Marine 111
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When is the Right Time to Get Flood Insurance?

Wren Insurance Agency

As a Floridian, you may know that - regardless of the flood zone your home is in - it's always a good idea to have flood insurance in place, especially once you realize that your regular homeowners insurance doesn't cover most rising water events. Overflow of inland or tidal waters, heavy runoff from significant rainfall, collapse or destabilization of land along a body of water due to erosion, or unexpected wave activity can all cause flooding events in your home that aren't covered by your typ

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New York Regulator Orders Taxi Insurer to Weigh Sale After Losses

Insurance Journal

New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial improprieties and accounting problems, warning that the consequences …

Insurance 267
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What Are the Duties of An Insurance Agent to the Policyholder—A Michigan Case Example

Property Insurance Coverage Law

The duties of an insurance agent to the policyholder will differ depending on state law. Yesterday’s post about a Michigan coverage case, Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement, noted that there was also an issue with insurance agent negligence. This will be the second post in … The post What Are the Duties of An Insurance Agent to the Policyholder—A Michigan Case Example appeared first on Property Insurance Coverage La

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Houthis claim attack on container ship

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Houthis claim attack on container ship appeared first on Insurance Marine News.

Claim 111
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WEBINAR SERIES | Wellness in the Workplace – How to Create an Effective and Compliant Wellness Program

Relation

You will want to take advantage of Relation’s upcoming compliance webinar – Wellness in the workplace. Join our VP of Compliance, Matthew LoPorto, and our Wellness Program Manager, Jeanne McDaniel, as they team up to discuss how to create a thriving Wellness Program that not only encourages engagement with health and wellness benefits but also cultivates a […] The post WEBINAR SERIES | Wellness in the Workplace – How to Create an Effective and Compliant Wellness Program a

Insured 98
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New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown

Insurance Journal

In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co.

Risk 311
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Insurance Appraisals and Umpire Appointments Texas Style

Property Insurance Coverage Law

The appointment of umpires by judges is something that I have been following. When I teach appraisal classes or debate appraisal issues with Steve Badger, I often state that the selection of an umpire is most crucial to parties wishing to have a fair outcome. As stated in Judge Cites Merlin Law Group in Appointment … The post Insurance Appraisals and Umpire Appointments Texas Style appeared first on Property Insurance Coverage Law Blog.

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Collision near Danube-Sulina Canal Involving cargo vessel and tanker

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Collision near Danube-Sulina Canal Involving cargo vessel and tanker appeared first on Insurance Marine News.

Marine 101
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What is the best Health Insurance Plan in Illinois?

Smart Insurance Agents

Best Health Insurance Plans in Illinois: There are many different insurance carriers in Illinois that offer On and Off exchange health insurance plans. On Exchange plans are offered via Healthcare.gov , while Off-Exchange plans can be purchased directly from the insurance company. Check Illinois Health Plans page to learn more or work with a health insurance agent to get help enrolling.

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Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives

Insurance Journal

As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations.

Risk 259
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What Does Replacement Cost Insurance Pay If There Has Not Been Repair or Replacement?

Property Insurance Coverage Law

Insurance companies that wrongly deny or underpay property insurance claims are finding a golden financial opportunity that provides an incentive for them to wrongfully underpay and deny claims—they escape the payment of the replacement cost valuation they promised to their policyholders. While this result can be stopped by common law allowing for bad faith actions … The post What Does Replacement Cost Insurance Pay If There Has Not Been Repair or Replacement?

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Salvors say it is unsafe to tow the Sounion

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Salvors say it is unsafe to tow the Sounion appeared first on Insurance Marine News.

Marine 98
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Don’t Let Your Clients Ignore These Cyber Threat Headlines

ProWriters

Cyber threats continue to challenge individuals, countries, and companies in today’s digitally interconnected world. Whether they are familiar but no less dangerous risks like ransomware attacks or denial-of-service (DoS) attacks, or whether they take such still-emerging forms as cryptojacking or AI-powered phishing campaigns , cyber security threats require constant vigilance and proactive protective measures, especially given current events.

Cyber 98
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Landlords Face a $1.5 Trillion Commercial Real Estate Maturity Wall

Insurance Journal

Landlords for offices, apartment complexes and other commercial real estate have $1.5 trillion of debt due by the end of next year, and about a quarter of that borrowing could be hard to refinance, according to Jones Lang LaSalle Inc.

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Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage

Property Insurance Coverage Law

Trade credit insurance is a risk management tool that protects businesses against losses from unpaid invoices or accounts receivable. It covers a company’s trade receivables in case a customer fails to pay due to insolvency, bankruptcy, default, or other reasons specified in the policy. The primary use of trade credit insurance is to safeguard a … The post Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage appear

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Indian Coast Guard helicopter lost at sea during tanker evacuation

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Indian Coast Guard helicopter lost at sea during tanker evacuation appeared first on Insurance Marine News.

Marine 98
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Tips for Managing Personal Protective Equipment in Your Stockpile: Respirator Selection and Purchase

CDC: Workers Compensation

Happy Respiratory Protection Week 2024! Another year provides another opportunity to highlight resources to support informed workplace respiratory protection practices. NIOSH has been at the forefront of this effort for decades, testing and approving respirators used in U.S. occupational settings while also striving to provide the science necessary to inform complex respiratory protection decisions.

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Global Non-Life Reinsurer’s Profits to Peak in 2024: Fitch Ratings

Insurance Journal

Fitch Ratings published midyear underwriting results for 19 non-life reinsurers, finding that the group’s average first-half 2024 combined ratio was 84.2, and forecasting continued profits for the rest of 2024 and 2025 also.

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11 tips to teach children about emergency preparedness.

Frankenmuth Insurance

In the event of an emergency, would your child know what to do? It’s a crucial question to consider, because when kids are empowered to face emergencies with courage and competence, they’re significantly safer and better equipped to handle unexpected situations. To ensure your child is ready for any emergency, we’re outlining practical steps and tips that cover a wide range of scenarios.

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Cargo ship loaded with ammonium nitrate ordered out of Tromsø, heads to Vannoy

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Cargo ship loaded with ammonium nitrate ordered out of Tromsø, heads to Vannoy appeared first on Insurance Marine News.

Marine 98
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Navigating Difficult Return to Work Scenarios: Strategies and Best Practices

AMAXX

Return to Work (RTW) programs are essential components of an effective workers’ compensation system. They help injured employees transition back into the workforce, ensuring their well-being while minimizing the financial impact on employers. However, not all RTW scenarios are straightforward. Some situations present unique challenges that require careful handling to achieve the best outcomes for both the employee and the employer.

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Los Angeles to Pay $38M For Failing to Make Affordable Housing Accessible

Insurance Journal

The city of Los Angeles will pay $38.2 million to settle a 2017 lawsuit after “falsely” stating on federal documents that its multifamily affordable housing units built with federal funds were accessible for people with disabilities.

Claim 257
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How big a problem is the mounting global debt?

Splash: Finance and Insurance

Pierre Aury assesses the state of the world economy with some startling stats. We saw last month that it was unlikely that the historically high level of unrealised losses sitting in the balance sheets of banks could trigger a 2008 style crisis.

Insured 84
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Another container ship loses vessels overboard off South Africa

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Another container ship loses vessels overboard off South Africa appeared first on Insurance Marine News.

Marine 95
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Blog Post: The Importance of Immigrant Labor to the US Economy

LexisNexis

Kevin Appleby, CMS, Sept. 2, 2024 "As US citizens and residents celebrate Labor Day, it is important to recognize the contributions immigrants—both legal and undocumented—make to the national economy. Legal immigrants work in a variety of occupations, from skilled scientists and engineers to health-care and home care workers. Over eight million undocumented immigrants also provide important labor to our economy in many fields, such as agriculture, construction, and service.

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Michigan’s Conifer Holdings Sells Insurance Agency Operations

Insurance Journal

Conifer Holdings announced that it completed the sale of its insurance agency operations for consideration equal to $45 million (subject to transaction expenses and customary purchase price adjustments), plus possible additional earn-out payments of up to $25 million based on …

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Poseidon Principles expands to assess ESG standards in shipping

Splash: Finance and Insurance

The Poseidon Principles is set to expand beyond its original climate origins to encompass many other environmental, social, and governance (ESG) aspects. The Poseidon Principles Association, known for integrating climate considerations into financial lending and pioneering the assessment and disclosure of climate alignment in ship finance portfolios, has decided to create the Future Principles Committee.

Insured 82