Thu.Oct 24, 2024

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Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh

Insurance Journal

Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …

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Florida’s Emergency Ethical Rule Conflicts with Xactimate’s License Agreement – Another Example of Insurance Industry Control in Florida

Property Insurance Coverage Law

The recently issued Emergency Rule 69BER24-4 in Florida creates a concerning conflict with Xactimate’s license agreement, highlighting yet another way the insurance industry exercises control over claims adjusting practices. Xactimate’s license agreement explicitly states: “You agree not to prohibit or preclude deviations from the Price Data where contractor requirements, market conditions, demand or any other … The post Florida’s Emergency Ethical Rule Conflicts wi

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Marsh: US Commercial Insurance Rates Up 3% on Hikes in Casualty

Insurance Journal

Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%.

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TS Lines moves to raise up to $145m in Hong Kong IPO

Splash: Finance and Insurance

Taiwanese carrier TS Lines launched its initial public offering in Hong Kong Thursday, looking to raise up to about $145m. The intra-Asia feeder specialist is floating nearly 251m shares at HK$3.50 to HK$4.50 apiece, according to a Thursday filing, of which 10% are being offered publicly in Hong Kong and 90% to international investors.

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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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S&P Reveals Top 50 Largest P/C Insurers

Insurance Journal

As the third-fastest growing company on a list of the world’s top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market Intelligence. State Farm recorded nearly $87.

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Catastrophe-Bond Funds Suffered Virtually No Losses From Hurricane Milton

Insurance Journal

After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed.

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Blog Post: Drafting Reimagined with Internal Data and External Knowledge

LexisNexis

By Madison Johnson, Esq. | Marketing Manager One of the foundational disciplines of the practice of law is the drafting of documents, from business contracts and licensing agreements to client legal memoranda and litigation briefs, pleadings and motions. There is pressure to create documents that are effective for the client and to do so in an efficient manner.

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South Texas Town Lifts Boil Water Notice After 11 Days

Insurance Journal

McALLEN — Laredo residents are free to use their water after an 11-day boil-water notice expired earlier this week.

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Performance Shipping fixes leaseback deal for second LR2 newbuild

Splash: Finance and Insurance

Greece’s Performance Shipping has agreed a new sale and leaseback deal for one of its newbuilds.

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AI Push Sees Italy’s Intesa Axing 9,000 Jobs in ‘Generational’ Shift

Insurance Journal

Intesa Sanpaolo SpA is replacing thousands of staff with younger hires to set the firm up for the use of artificial intelligence, demonstrating how much the technology is impacting workers across the financial industry.

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Physical Therapy, Occupational Therapy, and Vocational Rehab in Workers’ Compensation

AMAXX

Workplace injuries can have significant financial and operational impacts on businesses, but the cost to the employee is often much greater. From physical pain to financial insecurity, an injury can be life-altering. Despite this, many employers overlook one of the most critical aspects of workplace injury management: rehabilitation. Rehabilitation, particularly through physical therapy, occupational therapy, and vocational rehabilitation, plays a vital role in an employee’s recovery proce

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Louisiana Senator: NFIP Reform Needed to Bring Down Flood Insurance Costs

Insurance Journal

Louisiana Senator Bill Cassidy released a report Thursday critical of the National Flood Insurance Program’s adoption of Risk Rating 2.0.

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Insurance Insider: Expert tips to prevent water damage in your home.

Frankenmuth Insurance

Household leaks, small and large, can lead to structural damage and hefty repair bills. But with some proactive measures, you can significantly reduce the risk of water damage to your home, and prevent future hassles. Our experts are weighing in with insider advice to avert water damage that starts both inside and outside your home. Expert tips to stop water damage originating INSIDE your home.

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Grieving Families Say Georgia Island Dock Collapse Tragedy Was Preventable

Insurance Journal

JACKSONVILLE, Fla. (AP) — Regina Brinson heard a crack before the metal walkway gave way beneath her feet, plunging her into the water beneath the state-operated ferry dock on Georgia’s Sapelo Island.

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Blog Post: Lex Machina Releases New API Alerts

LexisNexis

By: Justin Brownstone and Greg Selbo Lex Machina is proud to announce the release of its new API Alerts, which enhances and expands the scope of our powerful existing alert tool and API functionality. API Alerts combine Lex Machina’s popular alerting service with the option to receive alerts in a machine readable format. API Alerts enable API customers to embed data directly into their workflows and other tools.

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California Vocational School Owner Charged With Fraud in Workers’ Comp Scheme

Insurance Journal

The owner of a Fresno, California-based for-profit vocational school was charged with engaging in fraudulent billing practices related to workers’ compensation. Paul Steve Ramirez, 59, was charged with 11 felony counts, including insurance fraud.

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THE PANDEMIC’S SHADOW

Rough Notes

Has success in rebuffing COVID claims reduced the scope of income coverage? Since 2020, courts have changed their tune. Why? We all know why: the COVID-19 pandemic. By Joseph S. Harrington, CPCU Attorney Richard P. Lewis of the law firm Reed Smith is an impressive individual.

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Markets/Coverages: Lloyd’s Launches Disaster Resilience Vehicle for Small Island Developing States

Insurance Journal

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has launched disaster resilience vehicle with the United Nations Capital Development Fund (UNCDF) to deliver disaster risk financing to Small Island Developing States (SIDS) in the Pacific.

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Marine round-up : 25th October 2024

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Marine round-up : 25th October 2024 appeared first on Insurance Marine News.

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Brazil to Sign Compensation Deal With Miners Over 2015 Dam Disaster on Friday

Insurance Journal

Brazilian authorities will sign on Friday a long-awaited reparation deal with miners Vale, BHP and Samarco over the 2015 Mariana dam collapse, the country’s presidential office said on Wednesday.

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Changes at the top for INTERCARGO

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Changes at the top for INTERCARGO appeared first on Insurance Marine News.

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How a US judge Injected Culture Wars Into Boeing 737 MAX Plea Deal

Insurance Journal

A Texas federal judge with a record of ruling in favor of conservative causes injected uncertainty into Boeing’s agreement to plead guilty over two fatal 737 MAX plane crashes, seizing upon a single sentence in the deal about the U.S.

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Attacks on ships in Ukraine threaten 1% of dry bulk market: BIMCO

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Attacks on ships in Ukraine threaten 1% of dry bulk market: BIMCO appeared first on Insurance Marine News.

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PCF Insurance to Rebrand as Trucordia With New Growth Strategy

Insurance Journal

Until now, PCF Insurance Services was focused on size and scale, with independently operated offices that may not have known the PCF brand. That’s all about to change.

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Two vessels suffer mishaps during transit of Kiel Canal

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Two vessels suffer mishaps during transit of Kiel Canal appeared first on Insurance Marine News.

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AM Best Revises Outlook to Stable for American Family Mutual and Core Affiliates

Insurance Journal

AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of American Family Mutual Insurance …

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US Appeals Court sets aside $440m Havana damages award against cruise lines

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post US Appeals Court sets aside $440m Havana damages award against cruise lines appeared first on Insurance Marine News.

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People Moves: Liberty Specialty Markets Promotes Mahida to Head of 3rd Party Claims UK & MENA; Howden Re Announces 4 Senior Appointments in Germany

Insurance Journal

This edition of International People Moves details appointments at Liberty Specialty Markets and Howden Re. A summary of these new hires follows here.

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Somalian pirates likely to return, soon, warns EOS

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Somalian pirates likely to return, soon, warns EOS appeared first on Insurance Marine News.

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Feds Issue Ultimatum to Louisiana on $3 Billion Coastal Restoration Project

Insurance Journal

NEW ORLEANS, La. (AP) — Federal officials want to know if Louisiana remains committed to a nearly $3 billion planned coastal restoration project that litigation has stalled.

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Steamship announces 5% general increase

Insurance Marine News

International Group Club member Steamship Mutual has announced a 5% General Increase for 2025/26, applied to premium on all classes of business. The Club said that “premium levels are under pressure due to the increasing cost of claims and premium churn”. There will be a capital distribution to Members of about $42m, which will be. The post Steamship announces 5% general increase appeared first on Insurance Marine News.

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Iranian Hacker Group Focuses on US Election Websites, Media, Microsoft says

Insurance Journal

An Iranian hacking group is actively scouting U.S. election-related websites and American media outlets as election day nears, according to a Microsoft blog published on Wednesday. Researchers say the activity suggests “preparations for more direct influence operations.

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How to claim insurance in Florida after Hurricane Milton

Top Insurance Blogs

Claiming insurance in Florida after Hurricane Milton involves several steps. The post How to claim insurance in Florida after Hurricane Milton appeared first on My Top Insurance Blogs.

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