Fri.Jul 26, 2024

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California Commissioner Announces FAIR Plan Modernization Deal

Insurance Journal

California Insurance Commissioner Ricardo Lara said on Friday that he and the California Fair Plan have agreed to establishing a new high value commercial coverage option with limits up to $20 million per building and other steps that he said …

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Tips for New Agents to Generate & Embrace Feedback

Word & Brown

When you’re just starting out in your insurance sales career, you may not realize how important soliciting and embracing customer and prospect feedback can be in helping you improve your skills, boost your future sales, and build a more successful business. Asking for and receiving feedback can provide you with insights you might otherwise be unable to secure.

Agents 52
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California Wildfire Continues to Spread Rapidly to 164K Acres

Insurance Journal

A massive wildfire in Northern California has destroyed an undetermined number of buildings and is threatening thousands or properties, prompting thousands of evacuations orders, as it continued to rage on Friday morning.

Building 290
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Our Next Era – Cowbell Closes $60M Series C Round

Cowbell

I am thrilled to announce that we have successfully closed our Series C funding round, raising $60 million from Zurich to accelerate our growth and bolster our cyber resilience services. This is a significant milestone and I am excited about our next chapter and the opportunities ahead. State of Cyber Insurance The global cost of cybercrime is estimated to reach $24 trillion by 2027 , and ransomware attacks alone cost small businesses $1.7 million per incident on average.

Cyber 52
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Niagara Falls Hopes Insurer Can Solve Mystery of Last Year’s Car Crash, Explosion

Insurance Journal

A police investigation into the crash and explosion that killed two people in a high-powered luxury car at a Niagara Falls border crossing last year has concluded with the crash’s cause still a mystery, authorities said.

Insured 290
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Maximise Your Business Growth: 4 Essential Tips to Secure Your Commercial Tailors Insurance

Protect Commercial Insurance

Welcome to our blog post on how to maximise your business growth by securing the right commercial tailors insurance. As a tailor, it is crucial to protect your business from potential risks and liabilities. In this article, we will provide you with four essential tips to help you understand your coverage needs, find the best rates, review and update your policy regularly, and work with an experienced insurance broker.

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How Much Is The Average Cost Of Renters Insurance?

Simply Insurance

The average cost of renters insurance is $15.58 per month or $187 per year. The costs are based on the policy coverage limits, deductibles, the company you choose, and location.

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Elevating the Customer Experience: Innovations in the Insurance Industry

Insurance Journal

This post is part of a series sponsored by Dyad. In today’s rapidly evolving digital landscape, customer experience is paramount across all industries, including insurance.

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Best Life Insurance Companies In America Plus Rates!

Simply Insurance

Ethos comes out on top as one of the best life insurance companies in America due to their range of coverage options and super fast approvals.

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Louisiana’s $3B Coastal Restoration Project Divides Residents

Insurance Journal

NEW ORLEANS (AP) — Proponents of a nearly $3 billion project to restore part of southeast Louisiana’s rapidly vanishing coastline released a study Tuesday touting the expected economic benefits of its construction, even as the project faces pushback and litigation …

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Employers Turn to New Technology to Safeguard Workers From Extreme Heat

Insurance Journal

McKINNEY, Texas (AP) — At the start of every work day, construction worker Charles Smith puts on the essentials: hard hat. Safety glasses. A reflective vest. And a small, watch-like band for his wrist.

Injury 278
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Rushed Railcar Inspections and ‘Stagnated’ Safety Record Reinforce Concerns

Insurance Journal

Major freight railroads are rushing railcar inspections, reinforcing known safety concerns raised by unions for years, but at a House hearing Tuesday they’ll present new evidence from federal inspectors that railcar checks are routinely less than two minutes per car.

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Ryan Specialty Announces Unification of Ryan Financial Lines

Insurance Journal

Ryan Specialty announced the unification of Ryan Financial Lines and the expansion of its product offerings. Ryan Financial Lines’ formation was announced in December 2023. The first phase was implemented in March 2024 with EmergIn Risk rebranding into RFL Cyber.

Cyber 278
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ALKEME Acquires Georgia’s Morris & Templeton Agency

Insurance Journal

ALKEME, a national insurance broker, has acquired Morris & Templeton in Savannah, Georgia, expanding ALKEME’s footprint in the Southeast. Morris & Templeton was founded in 1981, offering commercial and personal insurance coverage, including high-end homeowners products.

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Paris Trains Hit By Sabotage Hours Before Olympics Kick Off

Insurance Journal

Trains to and from Paris, including the international Eurostar service, were hit by what authorities called a “massive attack aimed at paralyzing the network” of France’s super-fast trains just hours ahead of the inauguration ceremony of the 2024 Olympic Games.

Insurance 277
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GE Vernova Blames Manufacturing Flaw for Vineyard Wind Offshore Blade Failure

Insurance Journal

A manufacturing flaw led to a turbine blade failure at the Vineyard Wind offshore project off the coast of Massachusetts this month, the part’s producer, GE Vernova, said on Wednesday.

Risk 277
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People Moves: Vantage Promotes Bellitti as Chief Pricing & Portfolio Actuary, Names BHSI’s Valzania as CUO; AXA XL Promotes Bailey as Head of Professional, Bermuda

Insurance Journal

This edition of International People Moves details appointments at Vantage Group Holdings and AXA XL. A summary of these new hires follows here. Vantage Promotes Bellitti as Chief Pricing & Portfolio Actuary, BHSI’s Valzania Named CUO Vantage Group Holdings Ltd.

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Illinois Legislature Clarifies How Damages are Calculated Under BIPA to Avoid ‘Annihilative Liability’

Insurance Journal

A bill (SB2979) amending Illinois’ Biometric Information and Privacy Act (“BIPA”), passed by both houses of the legislature on May 16 and now on Governor Pritzker’s desk, effectively overturns a recent Illinois Supreme Court ruling that could have had a …

Liability 275
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Woman Dies in West Virginia’s Second Coal Mine Fatality This Year

Insurance Journal

CHARLESTON, W.Va. (AP) — A West Virginia woman died Wednesday more than a week after an accident at a southern West Virginia coal mine, Gov. Jim Justice said.

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Aon Reports 6% Drop in Q2 Net Income, Organic Revenues Grow 6%

Insurance Journal

Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million in Q2 2023.

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MGU Private Client Select Teams With Ryan Specialty on High Net Worth

Insurance Journal

Private Client Select Insurance Services (PCS) said it has entered into an agreement with Ryan Specialty on a distribution partnership.

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Business Moves: NFP, Clear Group, and Strategic Risk Group Complete 4 Acquisitions

Insurance Journal

Three brokers – NFP, Clear Group, and Strategic Risk Group – each announced acquisitions during July.

Risk 277