Fri.Dec 20, 2024

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Liberty Mutual Weighs Sale of Thailand, Vietnam Assets

Insurance Journal

Liberty Mutual Holding Co. is considering a sale of its businesses in Thailand and Vietnam as the US insurer seeks to streamline its operations, according to people familiar with the matter.

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National Flood Proofs of Loss for Hurricanes Helene and Milton Extended to 180 Days

Property Insurance Coverage Law

When it comes to Santas Naughty or Nice list, Jeff Jackson is trying very hard to raise his status to nice. Jackson is the most senior executive of the National Flood Insurance Program (NFIP.) Jackson extended the deadline for policyholders to file their Hurricane Helene or Milton flood proofs of loss to 180 days. The … The post National Flood Proofs of Loss for Hurricanes Helene and Milton Extended to 180 Days appeared first on Property Insurance Coverage Law Blog.

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Tesla Recalls Nearly 700,000 Vehicles in Over Tire Pressure Monitoring Issue

Insurance Journal

Tesla said on Friday it was recalling 694,304 vehicles in the United States over an issue with the tire pressure monitoring system (TPMS).

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What Building Insurance Do I Need for My Business?

Central Insurance

Are you sure your business is adequately insured? From building coverage to asset protection, we're breaking down the essentials every small business owner needs to know. The post What Building Insurance Do I Need for My Business? appeared first on Central Insurance Blog.

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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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Global Warming Can’t Be Ignored, Montana’s Top Court Says, Upholding Landmark Climate Case

Insurance Journal

Montana’s Supreme Court upheld a landmark climate ruling that said the state was violating residents’ constitutional right to a clean environment by permitting oil, gas and coal projects without regard for global warming.

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Swiss Re’s Business Unit CEOs Share Views on Key Risk Themes of 2025

Insurance Journal

Social inflation will continue to be a top concern for insurers and reinsurers in 2025 with US liability claims increasing by 57% during the past decade and nuclear verdicts rising in frequency, said Swiss Re, pointing to jury awards above …

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How Much Does It Cost to Become an Insurance Agent?

PSM Brokerage

Becoming an insurance agent is an exciting career path that offers flexibility, financial growth, and the opportunity to help people secure their health and financial well-being. For those planning to specialize in health insurance, Medicare products, and ancillary offerings like dental and vision insurance, the possibilities are even greater. However, getting started requires understanding the steps and costs involved.

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Safeco to Stop Writing New Condo and Renter Policies in California

Insurance Journal

It appears another insurance carrier is turning sour on wildfire-prone California. Safeco, a Liberty subsidiary, is preparing to stop writing new condo and rental policies in California at the beginning of next year.

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Executive Protection: A Critical Component of Safeguarding Your People and Organization

Cowbell

Although executive protection is not a new concept, it is increasingly becoming one of the responsibilities associated with CISOs and their teams, who are expected to protect key employees from third-party threat actors. So what exactly does executive protection entail? At the highest level, it is a comprehensive security solution designed to address physical and cyber threats against executives, VIPs and other high-value individuals.

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G-7 Considers Options to Harden Price Cap on Russian Oil

Insurance Journal

Group of Seven nations are exploring ways to toughen the price cap on Russian oil as they seek to better target Moscow’s ability to fund its war against Ukraine, according to people familiar with the matter.

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Insurance Management Systems: CRM vs AMS Comparison

North American Software Associates

In insurance agency management, picking the right system is key to running efficiently. While Customer Relationship Management (CRM) systems might seem useful for basic contact management, modern agencies require Agency Management Systems (AMS) to operate effectively.

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People Moves: Chubb’s Westchester Announces New Head of Programs, COO

Insurance Journal

Westchester, a Chubb Company and Chubb’s excess and surplus lines division, named Nick Gatt, previously chief operating officer (COO) for Westchester Programs, as head of Westchester Programs. Gatt will oversee strategy, underwriting and profitability.

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Navigating Life Insurance for Seniors: Why It’s Never Too Late to Secure Your Future

P&L Financial Services

Life insurance often feels like a topic best tackled earlier in life, but its far from being too late for seniors to secure a meaningful policy. As an insurance agent, understanding the needs and concerns of senior clients can open the door to building trust and creating solutions tailored to their unique situations. Heres how to guide seniors through this important decision and help them feel empowered about their financial future.

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Singapore’s bolttech, Valued at $2.1 Billion, Raises More Than $100 Million

Insurance Journal

Singapore-headquartered insurance technology firm bolttech has raised more than $100 million in its latest funding round, led by Dragon Fund of Mitsubishi UFJ Financial Group and fintech direct lender Liquidity Group, it said on Friday.

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How Insurance Referral Partnerships Can Benefit Your Business

Protect Commercial Insurance

Introduction Building strong relationships is more important than ever. One effective way to grow your enterprise and enhance customer satisfaction is by establishing insurance referral partnerships. These partnerships involve collaborating with other professionals or businesses to refer clients to one another. Not only do they expand your customer base but they also bolster your reputation and create a network of valuable contacts.

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Self-Proclaimed Bitcoin Inventor Found in Contempt of Court After Lawsuit Loss

Insurance Journal

A computer scientist who falsely claims to be the inventor of Bitcoin was handed a suspended prison termafter being found in contemptof court by a London judge after a stinging lawsuit loss.

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Marine round-up : 20th December 2024

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Marine round-up : 20th December 2024 appeared first on Insurance Marine News.

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Palm Beach Revolt Forces Sylvester Stallone to Abandon Mansion Sea Barrier

Insurance Journal

In his movies, Sylvester Stallone has taken on drug cartels, Soviet troops and boxer Apollo Creed. But in real life, he had to beat a retreat against the Palm Beach Town Council.

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Vineyard resumes blade installation

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Vineyard resumes blade installation appeared first on Insurance Marine News.

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Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption

Insurance Journal

Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec.

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Ferry runs aground in Las Palmas after allision

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Ferry runs aground in Las Palmas after allision appeared first on Insurance Marine News.

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Chicago Restaurant Owners to Pay $125K in Overtime Back Wages

Insurance Journal

The U.S. Department of Labor obtained a consent judgment and order in the U.S. District Court for the Northern District of Illinois on Dec. 2, 2024, that requires D’Nuez Corp.

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Many dead as Indian Navy vessel collides with ferry

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Many dead as Indian Navy vessel collides with ferry appeared first on Insurance Marine News.

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Grubhub to Pay $25M in Deceptive Business Settlement With Illinois AG and FTC

Insurance Journal

SPRINGFIELD, Ill. (AP) Grubhub Inc., an online food ordering and delivery platform, will pay $25 million to settle a dispute over alleged deceptive business practices with the Illinois attorney general and the Federal Trade Commission, officials said Tuesday.

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Somali pirates ask $10m for release of Chinese fishing boat: report

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Somali pirates ask $10m for release of Chinese fishing boat: report appeared first on Insurance Marine News.

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Cleveland Clinic Plans New Hospital, Larger Outpatient Center in South Florida

Insurance Journal

The Cleveland Clinic, a health care system with hospitals and clinics around the world, said it plans to build a 150-bed hospital in the Palm Beach area and will quadruple the size of an outpatient clinic there.

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Yi Peng 3 could have made an earlier anchor drag, say investigative reporters

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Yi Peng 3 could have made an earlier anchor drag, say investigative reporters appeared first on Insurance Marine News.

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Group Calls New Jersey’s Toxic Waste Dump Settlement ‘Woefully Inadequate’

Insurance Journal

Years of toxic waste dumping in a Jersey Shore community where childhood cancer rates rose caused at least $1 billion in damage to natural resources, according to an environmental group trying to overturn a settlement between New Jersey and the …

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Third tanker in Kerch Strait disaster is identified

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Third tanker in Kerch Strait disaster is identified appeared first on Insurance Marine News.

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2024: Year in Review

American Agents Alliance

To bring 2024 to a close, the American Agents Alliance would like to take a moment to reflect on the many accomplishments and achievements throughout the year. This has been an accomplished year, thanks to the collaborative effort and encouragement from our members and strategic partners. Heres a look at a few of the highlights: Advocating for Independent Agents One of our primary focuses this year was advocating on behalf of independent agents.

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Emergency lock rescues on Moselle moving faster than expected

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Emergency lock rescues on Moselle moving faster than expected appeared first on Insurance Marine News.

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Blog Post: Big Rise in MI’s Minimum Wage

LexisNexis

MIs Minimum Wage Rising Most Next Year Twenty-three states minimum wages are increasing in 2025, typically by about 3%. But Michigans minimum wage will rise 21% by the end of February, as a result of a ruling by the states Supreme Court last summer ending a long battle over a pair of ballot measures approved in 2018. The increase will take the states minimum wage from $10.33 per hour to $15 per hour.

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Safeguarding Your Hiring Process: Identifying and Preventing Employment Fraud

Cowbell

Remote work is driving an increase in employment fraud complexity and frequency. Businesses are increasingly targeted by sophisticated schemes designed to exploit hiring processes and the consequences can be significant. Before we dive into employment fraud trends, lets cover the most common types of employment fraud used to exploit businesses. Employment fraud can be categorized into three primary types: Misrepresentation: (Low Risk) Employees or contractors lying on their resumes, fabricating

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