Fri.Jan 24, 2025

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LA Wildfires by The Numbers: Insured Losses, Total Losses, Ratings, Rates

Insurance Journal

The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses damages, credit ratingsand lately worrying outlooks for the effect of the fires on insurance rates.

Damage 290
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California Smoke Soot and Ash Claims—A Cause for Concern

Property Insurance Coverage Law

Journalist Jack Healy of the New York Times wrote an article,Their Homes Are Intact, but the Fire Damage Inside Is Unbearable. Healy accompanied wildfire victims back to their homes after the event. In one case, he noted the following: As soon as an evacuation order was lifted in her neighborhood, Arlynn Page raced back to … The post California Smoke Soot and Ash ClaimsA Cause for Concern appeared first on Property Insurance Coverage Law Blog.

Claim 203
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Where Homeowners Rates Are Rising—and Who Is Raising Them Most

Insurance Journal

According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last yearand American Family Insurance topped a list of 10 insurers ranked by average rate change.

Premium 263
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Medicare Advantage Earning Potential

PSM Brokerage

Are you an insurance agent scrolling through endless forums and blog posts, looking for ways to level up your Medicare Advantage sales game? Good newsyouve struck gold! This isnt just another boring sales pitch; its a roadmap to making your commissions soar while keeping your clients happy. Medicare Advantage Sales: The Golden Goose of Insurance Imagine getting paid not just once but every single year your client stays on a plan.

Policy 93
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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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Families Sue TikTok in France Over Teen Suicides they say are linked to harmful content

Insurance Journal

In the moment when her world shattered three years ago, Stephanie Mistre found her 15-year-old daughter, Marie, lifeless in the bedroom where she died by suicide.

Liability 246

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Storm Éowyn Leaves Thousands Without Power, Grounds Flights

Insurance Journal

Hurricane-strength winds battered Ireland and the UK early Friday morning, leaving thousands of homes and businesses without power and disrupting transportation across the region.

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‘Cancel culture’ insurance offers respite to panicking celebrities

Elmore

Policy includes 24/7 hotline and 60-day plan to manage negative media coverage The post Cancel culture insurance offers respite to panicking celebrities appeared first on Elmore Insurance Brokers.

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Crop Trader Declares Force Majeure Along US Gulf During Rare Southern Snow

Insurance Journal

One of the world’s biggest crop traders has halted loading of grain vessels at US Gulf terminals as the region’s worst snowstorm in 130 years slams the region. Archer-Daniels-Midland Co.

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Blog Post: DHS Alleges "Mass Influx of Aliens," Solicits State, Local Assistance

LexisNexis

DHS, Jan. 23, 2025 "I further find that an actual or imminent mass influx of aliens is arriving at the southern border of the United States and presents urgent circumstances requiring an immediate federal response. I therefore request the assistance of State and local governments in all 50 States.

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Digital Lloyd’s Syndicate Ki Becomes Separate Company Within Fairfax Group

Insurance Journal

Ki, the Lloyd’s digital follow platform, announced it completed the separation from its parent company, Fairfax Group, becoming a standalone subsidiary on Jan. 1, 2025. Ki was created in 2020 and started writing business through its Syndicate 1618 in 2021.

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OSHA Recordkeeping

Scott Insurance

Maintaining a safe workplace is a top priority for any organization, not just for the well-being of employees but also to comply with the Occupational Safety and Health Administration (OSHA) regulations. Proper recordkeeping and reporting of employee injuries and illnesses is a critical component of workplace safety and compliance and should be part of your organizations overall risk management strategy.

Injury 52
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Fitch Revises Mercury’s Outlook to Negative on More Possible LA Fire-Size Cats; Affirms Ratings

Insurance Journal

Fitch Ratings said in an outlook revision that it expects Mercury General Corp.

Damage 245
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Blog Post: Jan. 23, 2025 DHS Immigration Enforcement Memo

LexisNexis

DHS, Jan. 23, 2025 "(1) For any alien DHS is aware of who is amenable to expedited removal but to whom expedited removal has not been applied: a. Take all steps necessary to review the alien's case and consider, in exercising your enforcement discretion, whether to apply expedited removal. This may include steps to terminate any ongoing removal proceeding and/or any active parole status. (2) For any alien DHS is aware of who does not meet the conditions described in (1) but has been gra

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Specialist Risk Group Acquires Ecclesia Group’s Assets in Netherlands and Belgium

Insurance Journal

Specialist Risk Group (SRG), the London-based insurance intermediary, announced it will acquire the assets of Ecclesia Group in The Netherlands and Belgium a move that will see seven businesses and 700 new colleagues across the two countries join SRG.

Risk 245
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Blog Post: DHS Deputizes U.S. Marshals, DEA, ATF and BOP for Immigration Enforcement

LexisNexis

DHS, Jan. 23, 2025 "Today, Acting Department of Homeland Security Secretary Benjamine Huffman issued a directive essential to fulfilling President Trumps promise to carry out mass deportations. The directive gives Department of Justice (DOJ) law enforcement officials in the U.S. Marshals, Drug Enforcement Administration (DEA), the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Federal Bureau of Prisons authority to investigate and apprehend illegal aliens.

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Kansas Department of Insurance Recovers $11.8M in 2024

Insurance Journal

Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Department of Insurance recovered more than $11.8 million for Kansans in 2024. The Department’s Consumer Assistance Division has recovered over $47.7 million for Kansans since Commissioner Schmidt first took office in 2019.

Insurance 242
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Blog Post: Newark Mayor: ICE Raided Business Without a Warrant, Detained U.S. Citizens

LexisNexis

Steve Strunsky, NJ.com, Jan. 24, 2025 "U.S. Immigration and Customs Enforcement agents carried out a raid on a Newark business Thursday, detaining non-citizens and citizens alike, the citys mayor and the agency confirmed. Newark Mayor Ras J. Baraka issued a statement late Thursday afternoon denouncing the raid as an egregious act conducted without a warrant and in violation of the Fourth Amendment of the U.S.

Agents 91
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‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurance Journal

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.” Geoeconomics refers to the intersection of geopolitical forces and economic policies.

Insurance 240
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LA Fires Could Consume 30% of European Reinsurers’ Natural Disaster Budgets: Fitch

Insurance Journal

The Los Angeles wildfires could consume more than 30% of the aggregate natural catastrophe budgets set for 2025 by Europe’s four largest reinsurers Swiss Re, Munich Re, Hannover Re and SCOR, according to a Fitch Ratings commentary.

Insurance 240
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ZestyAI Approved in Minnesota

Insurance Journal

ZestyAI, a provider of AI-powered property and risk analytics, announced that its Severe Convective Storm suite, including Z-HAIL, Z-WIND, and Z-STORM, has received regulatory approval from the Minnesota Department of Commerce.

Risk 238
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New York Obtains $1.065B Judgment Against Accused Predatory Lender

Insurance Journal

New York Attorney General Letitia James said on Wednesday her office obtained a $1.

Liability 130
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Murdoch’s News Group Settles With Prince Harry, Leaving Questions Unanswered

Insurance Journal

Following a dramatic last-minute settlement in court, Prince Harry has again been victorious in his mission to take on the UK’s tabloid press.

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Trump Administration Reviewing US Automatic Emergency Braking Rule

Insurance Journal

A U.S. auto safety agency said on Friday it is reconsidering a landmark rule from the administration of former President Joe Biden requiring nearly all new cars and trucks by 2029 to have advanced automatic emergency braking systems.

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Texas Asks Wall Street Firms for Details About DEI Efforts

Insurance Journal

Texas and nine other Republican-led states are ratcheting up pressure on Wall Street’s diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI.

Policy 246