Tue.Jan 28, 2025

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US Economic Losses From Natural Disasters Soared in 2024

Insurance Journal

Economic losses from hurricanes and other natural disasters soared in the U.S. last year and were above average globally, reflecting another year of costly severe storms, floods and droughts.

Damage 283
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CRO Large Construction Intro: Brian Shaffer 

Central Insurance

Brian Shaffer shares his vision and relationship-driven approach to growing Central's large construction unit. The post CRO Large Construction Intro: Brian Shaffer appeared first on Central Insurance Blog.

Insurer 130
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Mississippi House Bill Puts New Rules on PBMs, But May Do Little for Workers’ Comp

Insurance Journal

A pharmacy benefits manager bill passed by the Mississippi House of Representatives last week may have little impact on drug costs in the state’s workers’ compensation system, even if that is part of the bill’s intent.

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Navigating 2025 CMS Rule Changes for Dual Special Needs Plans

PSM Brokerage

What Agents Need to Know for 2025 The Centers for Medicare and Medicaid Services (CMS) is rolling out significant updates to Dual Special Needs Plans (D-SNPs), Low-Income Subsidy (LIS) programs, and Special Enrollment Period (SEP) rules in 2025. These changes impact not only how D-SNPs operate and how LIS benefits are administered but also when and how beneficiaries can enroll or switch plans through SEPs.

Agents 52
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Leverage Trellis Court Data To Identify More Investment Opportunities

Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.

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Avian Flu Could Shutter Long Island’s Last Duck Farm

Insurance Journal

New York’s Long Island was once synonymous with “duck” in the culinary world. Now it may lose its last commercial farm. The avian flu outbreak that has led to the slaughter of millions of birds at U.S.

More Trending

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German Watchdog Raises Focus on Physical Risks Stemming From Climate Change

Insurance Journal

German watchdog BaFin said the country’s financial industry needs a better grasp of physical risks stemming from climate change because of the increasing impact of events such as floods and droughts.

Risk 241
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Scrap metal fires – is the IMSBC code adequately addressing the risks?

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Scrap metal fires is the IMSBC code adequately addressing the risks? appeared first on Insurance Marine News.

Risk 95
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Growth of Pet Insurance Continues as Market Could Reach $4.5B

Insurance Journal

Any pet owner who has been hit by sticker shock at the vet’s office understands why pet insurance is a booming business.

Premium 238
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Fire on container ship in Red Sea, crew abandon ship; reports

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Fire on container ship in Red Sea, crew abandon ship; reports appeared first on Insurance Marine News.

Marine 89
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Take the Hassle Out of Claims Management

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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Climate Change Made LA 35% More Primed to Burn, Scientists Say

Insurance Journal

Climate change made Southern California’s dangerous wildfire conditions in early January 35% more likely than they would have been before the industrial era, according to a new analysis by the scientific group World Weather Attribution.

Damage 223
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Blog Post: Proposed Noncompete Clause Ban in OH

LexisNexis

Bipartisan Bill to Ban Noncompete Clauses Introduced in OH Ohio Sens. Bill Blessing (R) and Bill DeMora (D) have introduced legislation ( SB 11 ) that would ban employers from enforcing noncompete clauses in worker contracts. Blessing said the bill was likely to face backlash from the business community. Ohio is one of 10 states that impose no restrictions on noncompete agreements.

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Corpus Christi Initiates Emergency Effort to Boost Water Supply

Insurance Journal

On the South Texas coast, the city of Corpus Christi has initiated an emergency effort to boost its water supply as local reservoirs experience a yearslong decline and water demand from big industrial projects continues to grow.

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Costa Concordia captain seeks early release

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Costa Concordia captain seeks early release appeared first on Insurance Marine News.

Marine 66
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Crew Abandon HK-Flagged Container Ship in Red Sea After Fire: Sources

Insurance Journal

The crew of the Hong Kong-flagged ASL Bauhinia have abandoned the container ship in the Red Sea after it caught fire on Tuesday, two maritime sources said, adding the cause of the incident was not immediately clear.

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Vezhen owner denies any deliberate sabotage of Baltic Sea cables

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Vezhen owner denies any deliberate sabotage of Baltic Sea cables appeared first on Insurance Marine News.

Marine 66
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Ardonagh Netherlands to Buy Majority Stake in 2 High-Net-Worth Specialist Firms

Insurance Journal

Ardonagh Netherlands, part of The Ardonagh Group, has reached an agreement to acquire a majority stake in Private Insurance Assuradeuren B.V. (PIA) and Private Insurance Nederland B.V. (PIN), two prominent players in the Dutch insurance market for high-net-worth individuals.

Insurer 207
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Nine charged as part of “elaborate smuggling operation” at Ports of Los Angeles and Long Beach

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Nine charged as part of elaborate smuggling operation at Ports of Los Angeles and Long Beach appeared first on Insurance Marine News.

Marine 59
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Markets/Coverages: DUAL Europe Launches Cyber Active Protect Solution

Insurance Journal

DUAL Europe announced the launch of DUAL Cyber Active Protect, a new product that combines comprehensive cyber insurance with proactive cyber prevention services.

Cyber 182
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Prompts Insurance Agents Can Use In ChatGPT

The Insurance Marketer

Unless you have been living under a rock, you’ve probably heard of ChatGPT, by now Insurance agents and marketers can use ChatGPT to boost efficiency, enhance communication, and add creativity.

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2025 Agency Salary Survey: Deadline Approaching

Insurance Journal

It’s the final days to take this year’s Agency Salary Survey. All respondents will receive a copy of the report in Insurance Journal magazine.

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Management Liability Insurance: A Broker’s Guide 

Distinguished

Corporate America is no place for the faint of heart. From allegations of wrongful termination to breaches of fiduciary duty, the potential for lawsuits is always there. This is why making sure executives are backed by comprehensive management liability insurance is so important. As a wholesale broker, understanding the intricacies of management liability insurance is essential to effectively guide your agents and clients through the process of securing the right coverage for their unique needs.

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AIG’s Hancock to Lead Global Personal Lines as Insurer Restructures Businesses

Insurance Journal

American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them.

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Distinguished Executive Lines Launches New Primary Forms

Distinguished

NEW YORK — Distinguished Programs (Distinguished), a leading national insurance program manager, proudly announces new primary offerings within its Executive Lines business for Private and Non-Profit organizations.This development underscores Distinguisheds ongoing commitment to provide innovative and comprehensive management liability solutions exclusively to wholesale brokers.

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Earthquake in Maine Rattles Houses, Nerves Across Northeast

Insurance Journal

A 3.8-magnitude earthquake centered near the southern Maine coast rattled houses in northern New England on Monday and was felt by surprised residents of states hundreds of miles away. The earthquake took place at about 10:22 a.m.

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Management Liability Insurance: A Broker’s Guide 

Distinguished

Corporate America is no place for the faint of heart. From allegations of wrongful termination to breaches of fiduciary duty, the potential for lawsuits is always there. This is why making sure executives are backed by comprehensive management liability insurance is so important. As a wholesale broker, understanding the intricacies of management liability insurance is essential to effectively guide your agents and clients through the process of securing the right coverage for their unique needs.

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Everest Group Boosts Casualty Loss Reserves $1.7 Billion

Insurance Journal

Everest Group preannounced full-year 2024 earnings yesterday, disclosing about a 45% drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves.

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Distinguished Executive Lines Launches New Primary Forms

Distinguished

NEW YORK — Distinguished Programs (Distinguished), a leading national insurance program manager, proudly announces new primary offerings within its Executive Lines business for Private and Non-Profit organizations.This development underscores Distinguisheds ongoing commitment to provide innovative and comprehensive management liability solutions exclusively to wholesale brokers.

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‘World’s Largest Truck Stop’ Fined $390K by EPA

Insurance Journal

Two truck stops in Iowa and Missouri Iowa 80, advertised as “the world’s largest truck stop,” and Joplin 44 agreed to pay a combined $390,784 to resolve alleged violations of the federal Clean Water Act.

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Blog Post: Alabama Legislature Repeals Annual Report Requirement for Corporations

LexisNexis

By Eric Geringswald | CSC Corporations are no longer required to file an annual report with Alabamas Secretary of State. The legislation repealing the requirement went into effect on October 1, 2024. Corporations must still file a business privilege tax return with the states Department of Revenue. The change is one of more than 50 amendments made to the states laws governing business entities in 2024.

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Not a Bear But a Fake Deer-Collision Claim Results in South Carolina Fraud Charges

Insurance Journal

First it was the fake bear insurance fraud that made headlines around the country. Now, it’s a fake deer that has landed a South Carolina woman in jail after authorities said she provided false information to a Progressive Insurance company.

Claim 154
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Renewed interest in Russian tanker abandoned in Poland

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Renewed interest in Russian tanker abandoned in Poland appeared first on Insurance Marine News.

Marine 52
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People Moves: Brooks Insurance Adds Garabedian as Underwriting SVP

Insurance Journal

Brooks Insurance hired Tiffani Ann Garabedian as senior vice president of underwriting. Garabedian is based in Los Angeles. Garabedian has nearly 20 years of insurance industry experience, most recently serving as a territory manager with Nationwide for the Northeast region.