Wed.Jan 29, 2025

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Chubb Posts Record P/C Underwriting Income for Q4 and 2024

Insurance Journal

Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024. Fourth quarter net income was down 22% to about $2.

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Thoughts From a Policyholder Attorney of 40 Years About the 2025 Windstorm Conference

Property Insurance Coverage Law

I formally started a policyholder law firm 40 years ago today. I mentioned that during my presentation yesterday at the Windstorm Conference while explaining how my perspective has developed. It seems like yesterday, but the world of property insurance claims has changed significantly since 1985. The 2025 Windstorm conference had more of a Texas flare … The post Thoughts From a Policyholder Attorney of 40 Years About the 2025 Windstorm Conference appeared first on Property Insurance Covera

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Progressive Net Income More Than Doubles in 2024

Insurance Journal

Progressive Corp. said it’s fourth quarter 2024 income increased 19% to about $2.4 billion compared to the same period the prior year.

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Thoughts From a Policyholder Attorney of 40 Years About the 2025 Windstorm Conference

Property Insurance Coverage Law

I formally started a policyholder law firm 40 years ago today. I mentioned that during my presentation yesterday at the Windstorm Conference while explaining how my perspective has developed. It seems like yesterday, but the world of property insurance claims has changed significantly since 1985. The 2025 Windstorm conference had more of a Texas flare … The post Thoughts From a Policyholder Attorney of 40 Years About the 2025 Windstorm Conference appeared first on Property Insurance Covera

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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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Maryland Regulator Resolved $33 Million in Insurance Complaints in 2024

Insurance Journal

The Maryland Insurance Administration reports that it recovered nearly $33.3 million in 2024 for Marylanders by helping resolve insurance-related issues and complaints.

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More Trending

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Less Methane Leaked in West Texas, Report Says; Environmentalists Are Skeptical

Insurance Journal

Less methane escaped into the atmosphere from certain oil and gas equipment and oil wells in 2023, according to a report released earlier this month by an energy analytics firm that industry leaders promoted.

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How to Build a Winning Prospecting Strategy

PSM Brokerage

Prospecting is the foundation of a successful insurance business. Without a steady stream of potential clients, even the best agents struggle to grow their business. The key to success isnt just finding leadsits finding the right leads and engaging them effectively. In this guide, well break down how to build a winning prospecting strategy that keeps your pipeline full and your business thriving. 1.

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People Moves: Patel Named Chair of Canopius Managing Agents, Succeeding Meader; Evolin Broking Taps Downing From Miller to Launch Construction Division

Insurance Journal

This edition of International People Moves details appointments at the re/insurer Canopius Group and the broker Evolin. A summary of these new hires follows here.

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How to Provide Exceptional Customer Service as an Insurance Agent

PSM Brokerage

Customer service is the backbone of a successful insurance business. In an industry where trust and relationships matter, providing outstanding service can set you apart from the competition. Whether you're working with new clients or maintaining long-term relationships, exceptional customer service ensures client satisfaction, retention, and referrals.

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As Small Businesses Try to Recover from LA Fire Devastation, A Variety of Aid Exists

Insurance Journal

The fires in California have been devastating for many small business owners and others who saw their homes, businesses or livelihoods go up in smoke. Raquel “Rockey” Smeir startedMy Friends Caf in Sierra Madre, California, in 2021.

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Don’t be too fixated on price to NAV

Splash: Finance and Insurance

Pierre Aury has some advice for would be shipping investors. An old topic for a new year. Ive already made my opinion quite clear about the fact that shipping companies trading in competitive spot markets should not be listed.

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Tech Update: Aventum Invests $12 Million to Create Proprietary Tech Function

Insurance Journal

Aventum, the London-based international re/insurance group, is investing $12 million over two years to create an inhouse proprietary tech function across its global operations.

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How Insurance Agencies Can Improve Digital Client Communication

Agency Revolution

Insurance is and always has been an industry that has people at the center of itespecially when it comes to independent insurance agencies. Thats why client communication is as important as ever. Gone are the days of just walking to your insurance agents office. Now, people expect to handle the process of buying, managing, and renewing insurance coverage digitally.

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Worker Killed When House Under Construction Collapses in Massachusetts

Insurance Journal

A worker died Tuesday after a house under construction in Massachusetts collapsed. According to local police, Mario Diaz Obando, 29, of Fall River, died when the house being built on Vine Street in Weymouth collapsed.

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New, Lower-Cost Home Insurance Product Now Being Offered for New Construction Homes

Wren Insurance Agency

Last month, Florida residents considering new construction just got another reason to purchase a brand new property, built from the ground up. Security First Insurance and Embark MGA, announced a new "HO5" product at the end of 2024 that integrates home insurance quotes into the homebuying and mortgage qualification process for those purchasing new construction.

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Michigan Joins Multistate Enforcement Action Against Block, Inc.

Insurance Journal

Michigan joined 47 state financial regulatory agencies in a coordinated enforcement action against Block, Inc., for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.

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The Future of Digital Placing: Enabling Faster, Enhanced Underwriting

Zywave

How can you overcome the challenge of effective underwriting with the proliferation of placing data spread across an increasing number of eTrade platforms, Broker proprietary portals, and digital partners? Watch on-demand to see how WCLs enabledPlacing solution seamlessly acquires risk data and documents from all the main Placing platforms, then aggregates, normalises and standardises it, before making it available to Underwriters via their own Workbench, workflow system or PAS.

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Judge Extends Ban on Alliant Employees Soliciting Marsh Agency’s Customers

Insurance Journal

A federal judge in Manhattan has extended an order blocking three Alliant Insurance Services employees from soliciting or contacting any current Marsh & McLennan Agency (MMA) clients or using a spreadsheet of MMA clients that MMA alleges they took when …

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Blog Post: Latest Updates to Indiana’s Business Entity Laws and New Case Law Available Now

LexisNexis

By Eric Geringswald | CSC Indianas legislature approved changes to more than three dozen sections of the states laws governing business entities in 2024, including a new provision regarding notice requirements for health care entity mergers and acquisitions and amendments to the states LLC provision addressing the death of a sole member. These and other updates changes are captured in the 2025 edition of Indiana Laws Governing Business Entities Annotated.

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Commercial Lines Insurance: Understanding Coverage Essentials for Businesses

Insurance Journal

This post is part of a series sponsored by Darkhorse Insurance. Securing the longevity and prosperity of your business involves more than just daily operations; it requires a robust safety net in the form of commercial lines insurance.

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Sulmara assists fuel recovery op from typhoon-struck cargo ship

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Sulmara assists fuel recovery op from typhoon-struck cargo ship appeared first on Insurance Marine News.

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People Moves: Ignite Specialty Names Patel US Head of IP Underwriting; QBE North America Hires Finnis as SVP of Distribution

Insurance Journal

Ignite Specialty Risk Names Patel as US Head of Intellectual Property Underwriting Ignite Specialty Risk, headquartered in London, appointed Ankit Patel as U.S. head of intellectual property (IP) underwriting.

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Seafarer abandonments reach new highs in 2024, says union

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Seafarer abandonments reach new highs in 2024, says union appeared first on Insurance Marine News.

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Oklahoma Issues Cease-And-Desist Against Unlicensed Auto Warranty Company

Insurance Journal

The Oklahoma Insurance Department (OID) has issued a Cease-and-Desist Order against Select Auto Inc., doing business as Select Auto Protect, due to the unauthorized sale of auto warranty contracts in Oklahoma.

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Seafarer Happiness Index shows first decline in 2024, port access restrictions key concern

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Seafarer Happiness Index shows first decline in 2024, port access restrictions key concern appeared first on Insurance Marine News.

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Pimco Warns LA City Utility Faces Steep Liabilities After Fires

Insurance Journal

The Los Angeles Department of Water and Power is facing the risk of significant financial liability for damages in the utility’s response to the Palisades Fire, according to Pacific Investment Management Co.

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Russian Arctic oil tanker is delivered, three years late and already sanctioned

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Russian Arctic oil tanker is delivered, three years late and already sanctioned appeared first on Insurance Marine News.

Marine 52
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MGM Resorts to Pay $45M to Settle Data Breach Lawsuit

Insurance Journal

MGM Resorts International has agreed to a $45 million to resolve a class action lawsuit over its data breaches in 2019 and 2023. Preliminary approval of the settlement was granted by a federal judge, according to documents filed Jan.

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Russian ship suffers fire of Syrian coast, says US-funded radio station

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Russian ship suffers fire of Syrian coast, says US-funded radio station appeared first on Insurance Marine News.

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Climate Change Will Lead to Higher Deaths in Europe, Study Shows

Insurance Journal

As Europe gets hotter, more people are expected to die from extreme heat, outweighing the reduction in those killed by very cold weather.

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Russian nuclear icebreaker bow damaged after collision

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Russian nuclear icebreaker bow damaged after collision appeared first on Insurance Marine News.

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Claims Exec Who Defrauded Allied World Insurance Ordered to Prison, Pay $1.2M

Insurance Journal

James Keating of Paoli, Pennsylvania, has been sentenced to 20 months of imprisonment, followed by three years of supervised release, for defrauding his former employer of more than $1.4 million.

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Chief engineer jailed in US for MARPOL violations

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Chief engineer jailed in US for MARPOL violations appeared first on Insurance Marine News.

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