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Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh

Insurance Journal

Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …

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Manufacturers Hit by Soaring Property Insurance Costs

Insurance Journal

James Kirsh expects the cost of the property and casualty insurance for his family-owned foundry in Wisconsin that makes cast iron parts for tractors and other equipment to at least double when it’s up for renewal this fall. He’s been …

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Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh

Insurance Journal

Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024 marking the second consecutive quarterly decrease following seven years of rising rates, according to the Global Insurance Market Index published …

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Pirates Invade Tampa! Is an Invasion Covered Under a Commercial Insurance Policy?

Property Insurance Coverage Law

Is an Invasion Covered Under a Commercial Insurance Policy? appeared first on Property Insurance Coverage Law Blog. where I gave a short explanation of the day: Tampas Mayor refused to hand over the keys to the city on Tuesday to … The post Pirates Invade Tampa!

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Despite IRS Scrutiny, Micro-Captives Growing Like Weeds in Hard Florida Market

Insurance Journal

Despite continued uncertainty over the future of federal tax rules on micro-captive insurance companies, the instruments seem to be increasingly popular for small businesses, especially in Florida, where rates for traditional commercial insurance have soared in recent years. SRA 831(b) …

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

Property Insurance Coverage Law

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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Parametric Hurricane Insurance

Property Insurance Coverage Law

As the traditional insurance market continues to harden, policyholders are increasingly exploring parametric hurricane insurance as a complement and sometimes a substitute to their existing property insurance coverage. What Is Parametric Hurricane Insurance?