Insurance Journal
JULY 14, 2024
A new report asserts the impact of business email compromise incidents on U.S. companies is likely underestimated and misunderstood—and it shows that multifactor authentication and cybersecurity awareness programs may be the top two risk management controls to prevent BEC attacks.
Insurance Journal
JULY 14, 2024
Here’s a troubling phrase hurricane forecasters hate but often hear: “It’s just a Category 1. Nothing to worry about.” Or even worse: “Tropical storm? Just some wind and rain.
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Insurance Journal
JULY 14, 2024
A lawsuit was filed Thursday against Hershey, Walgreens and several others in the case of a Massachusetts teen who died after he participated in a spicy tortilla chip challenge that was widely promoted on social media.
Insurance Journal
JULY 14, 2024
A commercial truck driver who was acquitted in the 2019 deaths of seven motorcyclists won’t be eligible to get his license back for another two years, New Hampshire safety officials said.
Insurance Journal
JULY 14, 2024
ATLANTA (AP) — A federal judge on Friday sentenced former Georgia Insurance Commissioner John Oxendine to serve three-and-a-half years in prison after Oxendine pleaded guilty to conspiracy to commit health care fraud, plus three years supervised release after his sentence …
Insurance Journal
JULY 14, 2024
By Chad Hemenway Independent agents placed more than 62% of all property/casualty insurance written in the U.S., according to the Independent Insurance Agents & Brokers of America (the Big “I”).
Insurance Journal
JULY 14, 2024
By Andrew DeMillo Arkansas sued two pharmacy benefit managers that oversee coverage for insurers, employers and other large clients, accusing them of fueling the opioid crisis in the state. Attorney General Tim Griffin filed the lawsuit against Express Scripts Inc.
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Insurance Journal
JULY 14, 2024
The dilemma in today’s labor market is real. In 2023, the U.S. labor market had 9.5 million unfilled jobs. Yet there were just 6.5 million unemployed workers, according to the U.S. Chamber of Commerce.
Insurance Journal
JULY 14, 2024
The board of governors for Florida’s state-created Citizens Property Insurance Corp. voted unanimously in June to raise personal lines rates by an average of 14% statewide – near the maximum allowed under the insurer’s glide path – starting next year.
Insurance Journal
JULY 14, 2024
Farmers Insurance officials said in June that they have spoken with employees after receiving an anonymous letter, apparently from a group of in-house adjusters, accusing the insurer of understaffing and overworking claims professionals.
Insurance Journal
JULY 14, 2024
Projected changes to California workers’ comp claims frequency and severity due to industry mix of employment are negligible through 2026, while employment in most industries fully recovered from the initial pandemic related changes by the end of 2022, a new …
Insurance Journal
JULY 14, 2024
By Susanne Sclafane Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. property/casualty insurers posted a net combined ratio of 94 — the best since first-quarter 2007.
Insurance Journal
JULY 14, 2024
It’s no secret — independent insurance agencies are struggling to find qualified job candidates. And young talent may be even harder to find.
Insurance Journal
JULY 14, 2024
A California workplace safety oversight board adopted a new standard for indoor workplaces to enact safety measures when the temperature reaches 87°F.
Insurance Journal
JULY 14, 2024
National Specialist insurer Hiscox appointed Mary Boyd CEO of its U.S. business unit to succeed Kevin Kerridge, who is stepping down after 30 years in the business. Boyd had been CEO of Plymouth Rock Assurance’s independent agency business since 2018.
Insurance Journal
JULY 14, 2024
As an insurance organization you understand risk management better than most businesses.
Insurance Journal
JULY 14, 2024
My previous two columns (May and June 2024) addressed issues with hail and windstorm claims regarding the discovery and reporting of damage, actual cash value versus replacement cost valuation and 180-day reporting conditions, percentage deductibles, special cosmetic damage limitations, and …
Insurance Journal
JULY 14, 2024
This post is part of a series sponsored by PCF Insurance Services.
Insurance Journal
JULY 14, 2024
National PCF Insurance Services, The Brady Agency, Ignitist, Roseberry Insurance Agency, Sinnot Agency Broker PCF Insurance Services continued its recent buying spree with the purchase of four insurance businesses in North Carolina, Pennsylvania, Mississippi and Iowa.
Insurance Journal
JULY 14, 2024
Home Insurance Costs “I never even talked about insurance, really up until the last year and a half. … Now, it’s a significant impact for the borrower as they qualify for the loan.
Insurance Journal
JULY 14, 2024
By Ezra Amacher A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 …
Insurance Journal
JULY 14, 2024
By Jahna Jacobson Inflation is cooling, employment growth is normalizing and the workers’ compensation outlook is good, according to a national economist specializing in workers’ compensation.
Insurance Journal
JULY 14, 2024
By Allen Laman With temperatures pushing above 90 degrees in parts of the Midwest and Northeast United States, many American workers are clocking in during what AccuWeather described as an “intense heat wave that is impacting more than 135 million …
Insurance Journal
JULY 14, 2024
By Chad Hemenway According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a “stable” outlook despite a stall in premium growth.
Insurance Journal
JULY 14, 2024
By Ed White The city of Detroit has agreed to pay $300,000 to a man who was wrongly accused of shoplifting and also change how police use facial recognition technology to solve crimes.
Insurance Journal
JULY 14, 2024
Massachusetts businesses will see an average 14.6% reduction in workers’ compensation rates–a cut that is almost twice the size of what the insurance industry’s rating bureau proposed in its filing. The lower rates go into effect on July 1, 2024.
Insurance Journal
JULY 14, 2024
A federal appeals court has declined to intervene in state regulatory proceedings in Maryland involving allegations of redlining by Erie Insurance, despite Erie’s complaints that the regulator has already shown bias against it and is likely to do so again.
Insurance Journal
JULY 14, 2024
PLAINFIELD, Vt.
Insurance Journal
JULY 14, 2024
The commercial auto insurance segment maintained its place as a weaker-performing U.S. property/casualty insurance product line in 2023.
Insurance Journal
JULY 14, 2024
By L.S.
Insurance Journal
JULY 14, 2024
By Ezra Amacher Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent fire, explosion and release of toxic chemicals.
Insurance Journal
JULY 14, 2024
A plan by a politically conservative group to dismantle the National Flood Insurance Program, if Donald Trump is elected president, has been met with approval from a private flood insurer but sharp skepticism from economists and insurance agents who say …
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