Tue.Aug 20, 2024

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Beryl-Battered Grenada Becomes 1st Country to Use Government Bond Hurricane Clause

Insurance Journal

Grenada has become the first country in the world to use a so-called hurricane clause in a government bond – a special feature that allows authorities to postpone debt payments in the wake of a major natural disaster.

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Is It Proper or Ethical to Race to Get an Umpire Appointed Without Informing the Other Party?

Property Insurance Coverage Law

The Golden Rule is often a good gauge of propriety and ethics. If good ole insurance defense attorney Steve Badger called me and said, “Chip, guess what? I saved you a bunch of time, effort and cost. I sent an email to a judge, and he appointed the umpire to our client’s insurance appraisal,” most … The post Is It Proper or Ethical to Race to Get an Umpire Appointed Without Informing the Other Party?

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Upstate Jury Says Harley-Davidson Must Pay $287 Million for Fatal ‘Trike’ Accident

Insurance Journal

An upstate New York jury has awarded more than $287 million in punitive damages and other compensation to a man and the estate of his deceased girlfriend following a fatal accident involving their Harley-Davidson “trike” motorcycle.

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Florida Property Insurance Rates and Premiums Are Going Up Even More: All United States Property Insurance Premiums Are Rising

Property Insurance Coverage Law

Citizens Property Insurance rates are going up. An article in the Miami Times, Citizens Looks to Hike Insurance Rates 14%, explains one reason why the rates are rising even more: The insurer of last resort in Florida isn’t meant to be competitive. But if it were, its average premium for regular homeowner’s insurance would have to … The post Florida Property Insurance Rates and Premiums Are Going Up Even More: All United States Property Insurance Premiums Are Rising appeared fir

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Texas Grid Faces Biggest Test of Summer With Extreme Heat

Insurance Journal

Texas is facing its biggest test of the summer this week to keep the power on — and air conditioners running — as temperatures hit triple digits and push electricity consumption to all-time highs.

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Cowbell Welcomes Jeff Ritchie and Dan Johnson

Cowbell

Today, at Cowbell we announced the appointments of two new hires to drive strategic growth. Jeff Ritchie has been appointed Senior Director of Digital Distribution and Dan Johnson has joined the firm as a Senior Business Analyst. In his role, Ritchie will be responsible for digital partnerships as well as expanding digital product offerings and capabilities.

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BrokerageBuilder Info Sheet

Zywave

Boost your bottom line and simplify your agency operations. Streamline account management and effortlessly handle complex commission tracking with BrokerageBuilder.

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US Firms Warn Against ‘Unprecedented’ Hong Kong Cyber Rules

Insurance Journal

US firms have warned that parts of a proposed cyber law could grant the Hong Kong government unusual access to their computer systems, highlighting the latest challenge to Western tech giants in the city.

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How Car Insurance Apps/Plug-Ins Can Affect Your Rates

Wren Insurance Agency

Today nearly a dozen different car insurance carriers offer a "safe driving" program for customers that elect to participate. These optional programs typically include either a plug-in telematics device that you temporarily install in your car, or a mobile phone app that you download. These programs record your driving habits from as little as 30 days to the full length of your policy and feed that driving information to the carrier about things like miles driven, average speed, acceleration and

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Specialist Risk Group Acquires UK-Based Anthony James Insurance Brokers

Insurance Journal

Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of Anthony James Insurance Brokers, subject to regulatory approval. Financial details of the transaction were not disclosed.

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August is National Immunization Awareness Month

R&R Insurance

As we celebrate National Immunization Awareness Month in August, it is crucial to recognize the significant impact of vaccines in preventing diseases among adults aged fifty and older. The Adult Vaccine Access Coalition reveals that the United States allocates a staggering twenty-six and a half billion dollars annually towards combating four vaccine-preventable illnesses: Influenza (flu), Pneumococcal disease, Pertussis (Whooping Cough), and Shingles.

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Morgan Stanley’s and Hiscox’s Bloomer Among Those Missing After Yacht Sinks

Insurance Journal

Morgan Stanley International chairman Jonathan Bloomer is among those confirmed missing by Italian authorities along with British tech entrepreneur Mike Lynch after the luxury yacht they were on board sank off the coast of Sicily early Monday.

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Protect Your Finances: The Truth About Small Insurance Claims

Shield Insurance Agency

Shield Insurance Blog | Small Insurance Claims | Contact Our Sales Team! Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. Many policyholders may be tempted to file a claim for every little incident in the belief that their insurance policy will cover all damages.

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CIAB: Clear Evidence of Softening Commercial P/C Market Conditions in Q2

Insurance Journal

Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according to The Council of Insurance Agents & Brokers (CIAB) quarterly survey.

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miEdge Configuration Options Info Sheet

Zywave

There are many reasons why miEdge is Your Ultimate Unfair Advantage. One of those is flexibility. There are plenty of ways to gather the industry-leading data, insights, and advanced filtering capabilities unique to miEdge. So, no matter your workflow requirements or tech stack configuration, miEdge can provide a boost.

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Markets/Coverages: Marsh Launches $50 Million Port Blockage Insurance Facility

Insurance Journal

Marsh, the insurance broker and Marsh McLennan subsidiary, announced the launch of a first of its kind $50 million port blockage insurance facility, covering shipping ports and terminals around the world.

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Jonathan Bloomer: missing City executive who played cameo role in Autonomy trial

Elmore

Former Prudential chief executive was on board sunken yacht with Mike Lynch The post Jonathan Bloomer: missing City executive who played cameo role in Autonomy trial appeared first on Elmore Insurance Brokers.

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The Era of Runaway Heat Records Is Here

Insurance Journal

Las Vegas set a heat record of 117 degrees Fahrenheit (47.2C) in 1942, and for 82 years no weather system could budge it. Thermometers registered the same temperature four more times, all since 2005, without setting a new high.

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Blog Post: Legal Intake For Corporate Law Departments

LexisNexis

In your corporate legal department, what is the legal intake process for receiving work from business stakeholders throughout the company? Perhaps you have a tried-and-true methodology that works extremely well, or, you’re testing the waters with a legal intake process that feels clunky and inefficient. Regardless, every corporate legal department needs an efficient way to manage inbound requests from all business units, assess whether the legal work requires assignment to the legal team, and de

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Update: Taiwan’s CTBC Financial Plans to Buy Rival Shin Kong

Insurance Journal

Taiwan’s CTBC Financial Holding Co. said it plans to buy smaller rival Shin Kong Financial Holding Co., a move that could form the island’s largest financial conglomerate.

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Blog Post: Immigration Reform in 2025: What Is Possible? - Free Webinar

LexisNexis

Cornell Law School Wednesday, November 20, 2024, 1pm EST "Immigration will be a key issue in 2025. Everyone agrees that we have a broken immigration system, but people disagree on the solutions. Congress is paralyzed. Presidents try executive actions but are sued. Federal courts seem to be the final arbiters of immigration policy these days. In the meantime, employers face labor shortages.

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Storms Threaten Mediterranean From Sicily to Ionian Sea Islands

Insurance Journal

Thunderstorms are forecast across the Mediterranean from Corfu to Sicily, where a luxury yacht sank off the coast on Monday after being struck by a waterspout, a form of tornado.

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Blog Post: The Cost of Immigration Enforcement and Border Security

LexisNexis

AIC, Aug. 14, 2024 "Since the creation of the Department of Homeland Security (DHS) in 2003, the federal government has spent an estimated $409 billion on the agencies that carry out immigration enforcement, and tens of billions more on border barriers and other immigration enforcement-related infrastructure projects. As Congress continues to increase enforcement-related funding to new record highs, it is important to review how much money has already been spent on these initiatives, and wh

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Medicare Recovery Actions Can’t be Made by Uninjured Parties, Appeals Court Says

Insurance Journal

Litigation that seeks to win Medicare reimbursements from insurance companies has become a huge business over the last decade, making one Miami lawyer a billionaire and causing expensive, ongoing legal headaches for property-casualty insurers.

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Blog Post: A Visionary in the Borderlands

LexisNexis

Melissa del Bosque, The Border Chronicle, Aug. 20, 2024 "While he lived, Eduardo "Eddie" Canales saved countless lives in the remote South Texas ranchlands. A statewide center in Texas to identify missing migrants would be a fitting legacy." Eduardo “Eddie” Canales next to a water station he maintained in Brooks County, Texas in 2016.

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The Next Challenge for the US Charging Network: Congestion

Insurance Journal

In Fernley, Nevada, east of Reno, there are 16 cords that rapidly charge electric vehicles — not bad for a city of just 24,000 people. This weekend, that ratio will be upended.

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Blog Post: OFLC Releases Public Disclosure Data and Selected Program Statistics for Q3 of Fiscal Year 2024

LexisNexis

OFLC, Aug. 15, 2024 "The Office of Foreign Labor Certification (OFLC) has released a comprehensive set of public disclosure data (through the third quarter of fiscal year 2024) drawn from employer applications requesting prevailing wage determinations and labor certifications for the PERM, LCA (H-1B, H-1B1, E-3), H-2A, H-2B, CW-1, and Prevailing Wage programs.

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USAA President, CEO Peacock Retiring in 2025

Insurance Journal

USAA announced that its chief executive officer and president, Wayne Peacock will retire during the first half of 2025, after 36 years at the company—serving the last five as CEO.

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Blog Post: Salute to ERISA. 50 Years and Counting!

LexisNexis

Few people today recall the 1963 failure of automaker Studebaker and the resulting loss of workers’ pensions. It started the buzz about the state of pension law in the United States with many issues to be resolved. For example, before ERISA, employers could adopt plans in which short breaks in service resulted in a loss of accumulated vesting service.

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Ryan Specialty to Acquire Assets of MGU Greenhill From Alera

Insurance Journal

Ryan Specialty said it has signed a definitive agreement to acquire certain assets of Greenhill Underwriting Insurance Services from Alera Group, Inc. Terms of the deal were not disclosed.

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Blog Post: Help on the Way! Review our New Crisis Response and Business Continuity Resource Kit

LexisNexis

Do you need to help employers manage their immediate crisis response across a range of key risks, including ensuring that the business continues to run during an emergency or crisis? Start with our Crisis Response and Business Continuity Resource Kit , which summarizes and links to relevant Practical Guidance content. Read now » Related Content Business Continuity and Emergency Planning Review guidance on business continuity plans, also known as disaster recovery plans.

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Baltimore’s Opioid Litigation Settlement With Cardinal Health Brings Total to $242.5 Million

Insurance Journal

The city of Baltimore has reached a $152.5 million settlement with Cardinal Health to resolve the city’s claims against the opioid distributor related to its role in the opioid epidemic. Baltimore Mayor Brandon M.

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Blog Post: Five Business-Building Strategies for Introverted Attorneys

LexisNexis

Three of the most important words in a lawyer's lexicon are "book of business." And contrary to a common belief, there is no set personality type for a rainmaker. Even if you’d rather avoid the golf course, it is still possible to build a large book of business. Check out our expert’s practice note on building your presence as a thought leader, marketing your practice, and networking without draining your social battery.

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Australian Insurer IAG Says Rise in Claims, Third-Party Costs to Push Up Premiums

Insurance Journal

Insurance Australia Group said on Wednesday it expects premiums to keep rising because of a huge jump in loss claims and third-party costs for home and automobile repairs, sending its shares more than 3% lower.

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