Fri.Jul 12, 2024

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Allstate Seeking 34% Rate Hike on California Homeowners Insurance

Insurance Journal

Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%. According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on April 14, 2023.

Premium 321
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The “1,2,3,4,5 Method” of Selling Hospital Indemnity Insurance with Medicare

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. The “1,2,3,4,5 method” of presenting hospital indemnity insurance will change your life, I promise! If it doesn’t, it’s because you don’t want to cross sell and make more money! First, I need to rant a little bit to help provide with some perspective from my personal experience on this topic.

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What Happened to Reinsurance Class of 2023? Hard Market Defies Age-Old Patterns.

Insurance Journal

Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs.

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Masonry Insurance: Seven Policies You Need to Protect Your Business

Central Insurance

Learn about essential masonry insurance policies to protect your business from risks and ensure its long-term success. The post Masonry Insurance: Seven Policies You Need to Protect Your Business appeared first on Central Insurance Blog.

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Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season

Insurance Journal

Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the P&C and reinsurance sectors, Moody’s Ratings said.

Insurance 298
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Maximize Customer Retention With Exceptional Service

American Agents Alliance

Independent agents and brokers can differentiate their services by providing exceptional customer service. This can help agents to find new customers, but often more importantly, providing great service aids in customer retention. It is less costly and less time-consuming to retain a customer you already have — so it is important to focus on retention.

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Best Insurance Agents Near Me

Agency Height

Find the Top Local Insurance Agents Near You in Texas, Pennsylvania, Georgia, Florida, Michigan, New York, and Other States of USA for 2023

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California Insurance Commissioner OKs Lower Workers’ Comp Benchmark Rate

Insurance Journal

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 to $1.38 per $100 of payroll— representing a 2.1% percent decrease from last year.

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Ships Fleeing the Red Sea Now Face Perilous African Weather

Insurance Journal

Ships sailing around the southern tip of Africa are wrestling with a bout of bad weather that has already run one vessel aground and seen another lose more than 40 containers overboard.

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Abbott Accused at Trial of Hiding Fatal Risk of Infant Formula

Insurance Journal

Abbott Laboratories hid the risks of its premature-infant formula causing a potentially fatal bowel disease from parents even though company officials acknowledged the peril in internal documents, a lawyer told a Missouri jury.

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Insurers Hike Rates as Extreme Storms Like Beryl Proliferate

Insurance Journal

Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response.

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Claims Made Commercial Lines Filings Now Subject to Scrutiny in Connecticut

Insurance Journal

In a change in regulatory practice, Connecticut has decided that all commercial lines claims made insurance forms and rates are now subject to full regulatory review.

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Ex-Red Hot Chili Peppers Guitarist Sued for Wrongful Death in Alleged Fatal Collision

Insurance Journal

Ex-Red Hot Chili Peppers guitarist Josh Klinghoffer is being sued for wrongful death and negligence after allegedly hitting and killing a pedestrian earlier this year.

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Lawsuit Against West Virginia Troopers Settled in Death of Maryland Man

Insurance Journal

CHARLESTON, W.Va. (AP) — A judge approved a $1 million settlement Tuesday in a wrongful death lawsuit that accused West Virginia state police troopers of using excessive force on a Maryland man who was walking along a highway last year.

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Origin Specialty Acquires Agribusiness Managing General Underwriter AIMS

Insurance Journal

Illinois-based specialty insurance broker Origin Specialty Underwriters Agency announced it has acquired Agricultural Insurance Management Services (AIMS), an agribusiness insurance-focused managing general underwriter based in Bow, New Hampshire.

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Menendez’s Wife Hid Truth About Insurance Broker and Mercedes Benz, Lawyer Says

Insurance Journal

US Senator Bob Menendez’s lawyer told jurors that the politician’s wife failed to tell him details of how she got a Mercedes Benz from a convicted felon who testified during the lawmaker’s corruption trial that the car was a bribe.

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South Africa Storms in Western Cape Cause Damage to 35,000 Homes

Insurance Journal

Storms that pounded South Africa’s Western Cape province have led to flood damage affecting more than 35,000 households in the city of Cape Town, Executive Mayor Geordin Hill-Lewis said.

Damage 259
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Half a Million Will Be Under Houston Outages a Week After Beryl

Insurance Journal

Days after Hurricane Beryl crashed through the city, Houston is still grappling with the aftershocks. Large swaths of America’s fourth-largest city are still without power, shutting stores and snarling traffic at non-functioning lights.

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NTSB Investigating Crash of Small Plane That Killed Three in North Carolina

Insurance Journal

MARION, N.C. (AP) — Three people were killed when a small plane crashed in western North Carolina, officials said Monday.

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Greece Fights Deadly Fire on Aegean Island as Temperatures Soar

Insurance Journal

Greece is fighting a deadly fire on the island of Lesvos, as temperatures in some parts of the country exceed 40C (104F).

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People Moves: Leif Assurance Promotes Worden to Sales Manager

Insurance Journal

Leif Assurance, headquartered in St. Louis, promoted Robert Worden to sales manager. Worden will also serve as the commercial lines’ sales manager for Leif’s sister company, Powers Insurance & Risk Management.

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AT&T Says Data From Around 109M Customer Accounts Illegally Downloaded

Insurance Journal

AT&T said Friday the company suffered a massive hacking incident as data from about 109 million customer accounts containing records of calls and texts from 2022 was illegally downloaded in April. The U.S.

Cyber 162
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Texas Steel Plant Fined $269K for Endangering Workers

Insurance Journal

Two years after the U.S.

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Tennessee Sheriff Pleads Not Guilty to Using Prison Labor for Personal Profit

Insurance Journal

MEMPHIS, Tenn.

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Wildfires Encircle Canada’s Oil-Sands City Amid Hot Weather

Insurance Journal

A ring of wildfires has erupted around Canada’s unofficial oil-sands capital of Fort McMurray, adding new threats to crude production from the world’s third-largest petroleum reserves.

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Hurricane Beryl’s Remnants Spawn Severe Storms in Midwest and Northeast

Insurance Journal

INDIANAPOLIS (AP) — The remnants of Hurricane Beryl dropped tornadoes and threatened flooding Wednesday as the system churned into Canada and the northeastern U.S. after leaving millions in the Houston area without power.

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