Mon.Feb 10, 2025

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China Frees Possible $27 Billion From Insurers to Buy Gold

Insurance Journal

A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak.

Insurance 285
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Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. That sum insured had not been reviewed for many years and as a result of 100% average, as it was on that policy, the client received only 6.9% of their loss.

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Owner and Town in Standoff as Erosion Slowly Takes Luxury House On Cape Cod Bay

Insurance Journal

The waters of Cape Cod Bay are coming for the big brown house perched on the edge of a sandy bluff in Wellfleet high above the beach. It’s just a matter of when.

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Bad Faith Insurance Practices Shielded By “Get Out of Jail Free” Late Payments

Property Insurance Coverage Law

Imagine a world where breaking the rules carries no real consequences. Thats the reality policyholders face when insurance companies delay or wrongfully deny claims, only to make a late payment after an appraisal and walk away without any real accountability. Last weeks decision in Mirelez v. State Farm Lloyds 1is yet another example of Texas … The post Bad Faith Insurance Practices Shielded By “Get Out of Jail Free” Late Payments appeared first on Property Insurance Coverage L

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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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UBS Whistleblower Verdict Thrown Out Despite Supreme Court Win

Insurance Journal

A former UBS bond strategist who persuaded the U.S.

Damage 246

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Police Scramble to Learn Who Stole 100,000 Eggs Worth $40K From Farm Trailer

Insurance Journal

Police are trying to crack a whodunit over the heist of 100,000 eggs from the back of a trailer in Antrim Township, Pennsylvania.

Theft 241
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5 Ways to Show Appreciation to Your Insurance Clients

Solstice Insurance Broker

Valentines Day is just one of many opportunities to show gratitude to those you care about. As an insurance broker, you have a special opportunity to let your clients know how much their loyalty and business mean to you. By showing appreciation, you not only strengthen your current relationships but also attract new ones. Here are some friendly and effective ways to make your clients feel valued.

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Apple Ordered by UK to Build Backdoor to Access User Data

Insurance Journal

The UK government has ordered Apple Inc. to build a backdoor to give it access to global user data, in a move that could spark one of the biggest privacy fights in the iPhone maker’s history.

Building 238
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What Northeast Contractors Should Consider When Picking Builders Insurance

Central Insurance

Learn the essentials of builders insurance! Discover how to protect your projects, lower costs, and minimize risk. The post What Northeast Contractors Should Consider When Picking Builders Insurance appeared first on Central Insurance Blog.

Insurance 130
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Lyft to Launch Mobileye Robotaxis in Dallas as Soon as 2026

Insurance Journal

Lyft Inc. will launch driverless rides with technology vendor and Intel Corp. spinoff Mobileye Global Inc. in Dallas as soon as 2026, building on a partnership that was first announced last November.

Building 237
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Captains of ships damaging seabed infrastructure should be sanctioned, Polish minister says

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Captains of ships damaging seabed infrastructure should be sanctioned, Polish minister says appeared first on Insurance Marine News.

Damage 97
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Bringing Positive Vibes Back to Personal Lines Insurance

Insurance Journal

Nationwide’s Casey Kempton has a vision to bring positive vibes back to engagements between personal lines insurers and their customersand it starts with understanding the “mental models” that homeowners and drivers reference to understand insurance.

Insurance 233
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One Baltic anchor-drag incident may have also hit a Russian telecom cable

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post One Baltic anchor-drag incident may have also hit a Russian telecom cable appeared first on Insurance Marine News.

Marine 82
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Tornadoes Kill 2, Injure 3 in East Tennessee, With Flooding in WV, Kentucky

Insurance Journal

WARTBURG, Tenn. (AP) Two tornadoes moved through eastern Tennessee, leaving a mother and daughter dead and injuring three other people, officials said Friday.

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South Africa passes marine pollution law

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post South Africa passes marine pollution law appeared first on Insurance Marine News.

Marine 76
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First Chicago Insurance Group’s Credit Ratings Upgraded to Positive Outlook by AM Best

Insurance Journal

AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of “bb” (Fair) of First Chicago Insurance Company …

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Workplace Injury Response Lessons from the Super Bowl LIX Champion Eagles

AMAXX

The Philadelphia Eagles dominant Super Bowl victory over the Kansas City Chiefs wasnt just about skillit was about preparation, execution, and leadership under pressure. The Eagles used their discipline and teamwork to dismantle Kansas Citys offensive line. Their executionwithout even sending a blitzdemonstrated that the right system, when applied effectively, yields game-changing results.

Injury 66
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22 States Sue Over New York Fund to Pay for Climate Change Damage

Insurance Journal

Twenty-two states sued New York on Thursday, contending that a new law forcing a small group of major energy producers to pay $75 billion into a fund to cover climate change damage is unconstitutional.

Damage 217
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Insurers concerned at US actions re NOAA

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Insurers concerned at US actions re NOAA appeared first on Insurance Marine News.

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Smart Choice Agency Network Reports Record Growth in 2024

Insurance Journal

Smart Choice, a North Carolina-based firm that works with independent agencies, reported record growth, with more than 1,450 agencies joining the network in 2024.

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Crew evacuates suezmax in Ust-Luga after explosions in engine room

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Crew evacuates suezmax in Ust-Luga after explosions in engine room appeared first on Insurance Marine News.

Marine 66
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Farmers Turn to Airbnb, Corn Mazes to Outlast Agricultural Downturn

Insurance Journal

A dead-end dirt road cutting through rural Wisconsin leads to a pasture dotted with shaggy-coated Highland cattle, fluffy Icelandic sheep and a vintage Airstream trailer that farmer Brit Thompson turned into an Airbnb to capitalize on an explosion of urbanites …

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Bulk carrier grounds in Russia’s far east

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Bulk carrier grounds in Russias far east appeared first on Insurance Marine News.

Marine 66
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Registration for Next Round of LA Fortify Homes Program Grants Opens Feb. 12

Insurance Journal

The Louisiana Department of Insurance announced that registration for the next round of Louisiana Fortify Homes Program (LFHP) grants will open at 8 a.m. on Wednesday, February 12. Registration will close at 5 p.m. on Sunday, February 16.

Insurance 200
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NABIP Austin - February 20th Membership Happy Hour

PSM Brokerage

Join Us for NABIP Happy Hour Unwind and network with us at NABIP Happy Hour, proudly sponsored by PSM Brokerage! Enjoy great drinks, great company, and great conversations as we connect with industry professionals in a relaxed setting. Whether you're looking to expand your network, share insights, or just enjoy a well-deserved break , this is the perfect opportunity!

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China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

Insurance Journal

China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers.

Insurance 204
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Blog Post: CounselLink+ Leverages Power Of AI in Contract Lifecycle Management For In-House Counsel

LexisNexis

By LexisNexis® CounselLink® One of the biggest headaches that in-house counsel grapple with is how to effectively manage their organizations vast universe of contracts from complex commercial transactions to routine vendor agreements. Contract lifecycle management (CLM) tools have eased this pain a bit in recent years, but artificial intelligence has the potential to provide insight into contract portfolios like never before.

Risk 52
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Update on Reagan Airport Crash: Helicopter Traffic, Night Goggles, Altitude Tracker

Insurance Journal

The Army was one of 28 government agencies authorized to fly helicopters near Ronald Reagan National Airport before its Black Hawk helicopter collided with an American Airlines passenger jet last week, killing 67.

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Watch Webinar: The Future of Digital Placing: Enabling Faster, Enhanced Underwriting

Zywave

In the rapidly evolving world of digital insurance, underwriting can feel like a juggling actespecially when risk data is spread across multiple eTrade platforms, broker portals, and digital partners. The challenge? Finding a way to effectively aggregate, standardize, and access that data, all while maintaining streamlined workflows. Thats where WCLs enabled Placing solution comes in.

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CFPB Disarray Puts Future Fintech, Bank Oversight Into Question

Insurance Journal

Less than two months ago, the Consumer Financial Protection Bureau was pumping out lawsuits against some of the world’s biggest firms, suing JPMorgan Chase & Co., Bank of America Corp. and Walmart Inc. within a single week.

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Insuring Collectibles in New York

Distinguished

New York stands as a global hub for art, culture, and collectibles, making it a prime location for collectors of all kinds. From fine art and sports memorabilia to luxury handbags and coins , the state is home to diverse collections that reflect its residents eclectic tastes and interests. As such, Collectibles insurance plays a pivotal role in safeguarding these valuable assets.

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What’s Tying Up $4B Settlement for Hawaii Wildfire Victims

Insurance Journal

Hawaii’s Supreme Court heard arguments last week over insurance issues that are tying up a potential $4 billion settlement over Maui’s catastrophic 2023 wildfire, the deadliest in the U.S. in more than a century.

Insurance 165
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What Perils Are Covered by Commercial Property Insurance?

Property Insurance Centre

What Perils Are Covered by Commercial Property Insurance? Commercial property insurance is essential for businesses to protect their assets from unforeseen events. Whether you own an office building, a retail store, a warehouse, or a manufacturing facility, this type of coverage safeguards your physical assets, ensuring financial stability in the face of damage or loss.