Tue.Sep 17, 2024

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US Property Insurance Rates Fall for First Time Since 2017

Insurance Journal

US property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average US property insurance rate decreased 0.

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Equine, Livestock, and Exotic Animal Insurance—What Are the Unauthorized Medication and Proper Care Exclusions?

Property Insurance Coverage Law

The world of property insurance covers a lot of specialty risks. Equine and livestock insurance is one of those special risks. A Liberty Mutual brochure describes these important coverages, and the equine risk is described in part as follows: We concentrate on providing insurance solutions for specific equine disciplines such as dressage, hunters, jumpers, racing, … The post Equine, Livestock, and Exotic Animal Insurance—What Are the Unauthorized Medication and Proper Care Exclusions?

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Home Insurance Customers Staying Put Despite More Shopping Around: J.D. Power

Insurance Journal

Chubb, AIG, and Amica lead other insurers in J.D. Power’s assessment of customer satisfaction for home insurance, but the consumer intelligence company said more people are shopping around. The good news for insurers is that only 2.

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Georgia switches to state-run health insurance Marketplace for 2025 coverage

Healthinsurance.org

In this article How do Georgia residents currently enroll in Marketplace coverage? Can residents use Georgia Access to enroll in 2024 coverage? What’s changing for residents who need Marketplace health insurance? What’s staying the same for Georgia Marketplace enrollees? What do Georgia enrollees need to do this fall? Starting Nov. 1, 2024, Georgia residents will use a state-run health insurance enrollment platform, Georgia Access , to shop for and enroll in Marketplace health coverage for 2025.

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Coastal Carolina Gets 1,000-year Rainfall Event from Storm System

Insurance Journal

Parts of North Carolina saw something Monday that has not been seen in hundreds, perhaps 1,000 years – 18 inches of rain in half a day. That’s “once in every 1,000 years!

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Blog Post: CA9 on In Absentia Orders: Singh v. Garland

LexisNexis

Singh v. Garland "Petitioner Varinder Singh, a native and citizen of India, seeks rescission of a removal order entered in absentia. We previously granted Singh’s petition because the government did not provide Singh with a Notice to Appear (NTA) setting forth the time and date of removal proceedings in compliance with 8 U.S.C. § 1229(a)(1), but the Supreme Court rejected our interpretation of this statutory provision.

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Blog Post: What Makes a Workers’ Compensation Claim a High-Cost Claim? The Latest Word

LexisNexis

By Hon. Susan V. Hamilton, Former Assistant Secretary and Deputy Commissioner, California Workers’ Compensation Appeals Board Over the past several decades California has implemented broad legislative changes aimed at lowering the costs associated with workers’ compensation, especially medical expenditures. Such measures as fee schedules, treatment guidelines, medical provider networks, and utilization review exemplify legislative enactments intended to curb rising medical costs.

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PwC Probe Spotlight Shifts to Hong Kong After Record China Fine

Insurance Journal

The focus of a lengthy probe into PricewaterhouseCoopers LLP’s China business now shifts to Hong Kong after the accounting firm was hit with a record fine in the mainland over its audit of failed developer China Evergrande Group.

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Chattogram port still struggling with box backlog

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Chattogram port still struggling with box backlog appeared first on Insurance Marine News.

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Viewpoint: How Insurance Industry Can Use AI Safely and Ethically

Insurance Journal

Executive Summary: Artificial intelligence (AI) is on the brink of transforming most aspects of business, including insurance, but it needs to be used responsibly, according to Zywave Chief Technology Officer Doug Marquis, who takes a look at the some of …

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Cook drank 18 shots of whisky before fatal accident

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Cook drank 18 shots of whisky before fatal accident appeared first on Insurance Marine News.

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Iowa and Iowa State Athletes Join Civil Lawsuit Over State Gambling Sting

Insurance Journal

DES MOINES, Iowa (AP) — Ten more Iowa and Iowa State athletes and an Iowa basketball equipment manager ensnared in a 2023 state gambling sting joined a civil lawsuit Tuesday seeking unspecified monetary damages from the state and its public …

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Positive development across all marine insurance lines of business continued in 2023, reports IUMI

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Positive development across all marine insurance lines of business continued in 2023, reports IUMI appeared first on Insurance Marine News.

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Brazil Confirms Potential $18B Deal With Miners Involved in Deadly Dam Disaster

Insurance Journal

The Brazilian government confirmed on Monday it was in talks on a potential $18 billion payout from a trio of miners involved in a deadly 2015 dam collapse, saying the deal could also involve further repair work by the companies …

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Red Sea is a challenge to salvors, insurers, shipowners: IUMI 2024

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Red Sea is a challenge to salvors, insurers, shipowners: IUMI 2024 appeared first on Insurance Marine News.

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Africa Floods Affect 4 Million People, Deepen Food Crisis

Insurance Journal

Floods across 14 central and West African nations have affected at least 4 million people — rendering many of them homeless — killed about 1,000 and are devastating crops in a region that’s already short of food and plagued by …

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Diversion around the Red Sea comes with its own set of challenges: IUMI 2024

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Diversion around the Red Sea comes with its own set of challenges: IUMI 2024 appeared first on Insurance Marine News.

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California Commissioner, Cal Poly Humboldt Working on Public Wildfire Model

Insurance Journal

California Insurance Commissioner Ricardo Lara and Cal Poly Humboldt plan to form a strategy group to undertake what Lara says will be the nation’s first public wildfire catastrophe model.

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Is An OBGYN Considered A Specialist For Insurance?

Smart Insurance Agents

OBGYN Considered A Specialist For Insurance? Wondering if an OB-GYN is an obgyn considered a specialist for insurance purposes? Simply put, yes. Most insurance providers classify OB-GYNs as specialists, which can influence your coverage and out-of-pocket costs. This article will guide you through the implications of this classification for your healthcare and help you understand how it impacts your insurance.

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People Moves: AXIS Names Chubb’s Mitchell as Head of Global Markets, Succeeding Gregory; Marsh McLennan Names De Bremme as CEO of Belgium & Luxembourg

Insurance Journal

This edition of International People Moves details appointments at AXIS Capital Holdings and Marsh McLennan. A summary of these new hires follows here. AXIS Names Chubb’s Mitchell as Head of Global Markets, Succeeding Gregory AXIS Capital Holdings Ltd.

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How Much Is Long Term Care Insurance In The United States?

Simply Insurance

The average cost of a long term care insurance policy for a single 55-year-old man is around $950 per year. Compared to a 55-year-old single woman, on average, will pay $1,500 per year.

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PCF Acquires Insurance Business of Top Insurance Associates in Washington

Insurance Journal

PCF Insurance Services acquired the insurance business of Top Insurance Associates in Snohomish, Washington. The Top Insurance Associates team will join PCF Insurance’s Fortiphi Insurance.

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How Much Is No Exam Life Insurance

Simply Insurance

Discover the costs associated with no exam life insurance, including factors that influence premiums and how to find the best coverage for your needs. Learn how this convenient option can provide peace of mind without the hassle of medical exams.

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Howden Buys Foresight in Japan, Names Gallagher’s Aibe as CEO of Japan Retail Unit

Insurance Journal

Howden, the London-based insurance intermediary group, announced its launch into the Japanese retail insurance broking and captive consulting and management markets with the acquisition of Foresight Holdings Co. Ltd.

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How Much Is Life Insurance

Simply Insurance

Discover the factors that influence life insurance costs and learn how to find the right coverage for your needs. Explore average premiums, types of policies, and tips for getting the best rates.

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Private Equity’s Insurance Bets Raise Risks, BIS Researchers Say

Insurance Journal

Private equity firms have changed the business models of life insurers they invest in, posing risks that are more likely to materialize with higher interest rates, according to researchers at the Bank for International Settlements.

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How Much Is Guaranteed Acceptance Life Insurance

Simply Insurance

Discover the costs and benefits of guaranteed acceptance life insurance in this comprehensive guide. Learn what factors influence pricing and how to choose the right policy for your needs.

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HEMIC in Hawaii Issuing $5 Million Dividend to Policyholders

Insurance Journal

Hawaii Employers’ Mutual Insurance Company Inc. is giving policyholders the largest dividend in the workers’ compensation carrier’s history. The HEMIC board of directors recently announced a $5 million dividend to qualifying policyholders.

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Blog Post: How Autonomous Vehicles Could Dramatically Change Car Insurance

LexisNexis

If an autonomous vehicle hits another car or a pedestrian, who’s to blame? The manufacturer or software developer? Other parties like computer programmers, satellite mapping companies, or even state governments? Or perhaps the non-driving human occupants of the vehicle who might be liable for actions they direct? With autonomous vehicles or AVs slowly gaining market share and the technology rapidly advancing, this is becoming an increasingly urgent question for insurance companies.

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Multi-Vehicle Crash on Dallas Interstate Kills 4

Insurance Journal

DALLAS (AP) — A vehicle crossed into oncoming traffic on a Dallas interstate and collided with two other vehicles in a crash that left four people dead, police said. The multi-vehicle accident happened about 1 p.m.

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Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

Distinguished

We sat down with Distinguished’s Builder’s Risk insurance expert, Susan DeCarlo, to discuss common factors that can lead to declinations in our program, how to avoid them, and key risk considerations. Backed by our specialized Builder’s Risk group, we deliver the highest level of expertise and service to provide the best coverage solutions for your clients’ needs.

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Bump in Federal Trade Secret Litigation Seen in 2023: Report

Insurance Journal

Analytics from Lex Machina 2024 Trade Secret Litigation Report reveals a rise in trade secret cases filed in federal district court in 2023, along with the continued steady trend of trade secret cases that involved Defend Trade Secret Act (DTSA) …

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Blog Post: How To Create A Functioning Contract Database

LexisNexis

Guess what? Your business might be losing a major portion of its annual profit due to inefficient contract database management systems. Contracts are an essential part of any business, as they contain information about every dollar that enters and exits the business. Not being able to keep track of this information can cause serious financial and reputational harm to organizations.

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Cigna Sues Federal Trade Commission Over ‘Defamatory’ Report

Insurance Journal

Cigna Group’s Express Scripts sued the US Federal Trade Commission over a recent report that the company said demonizes pharmacy benefit managers and asked the court to order the agency to retract it.

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