Wed.Sep 25, 2024

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Why US Home Insurance Rates Are Rising Fast – Climate Change Plays a Big Role

Insurance Journal

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country.

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Is the Address Correct on the Property Insurance Policy?

Property Insurance Coverage Law

In my basic course about property insurance coverage to public adjusters, and as a standard issue regarding case intake at Merlin Law Group, I first emphasize to always make certain the named insureds and clients have a right to bring the claims. There is a practical aspect of this—you want to represent people and businesses … The post Is the Address Correct on the Property Insurance Policy?

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State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P

Insurance Journal

State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis.

Insured 317
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Unlocking The Full Potential of Broker Commission | Solstice

Solstice Insurance Broker

In the highly competitive field of health insurance sales, agents are constantly seeking ways to enhance their commissions. Distinguishing your business from the competition is essential.

Broker 147
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Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index

Insurance Journal

For the fourth time in six years, cyber risk ranked highest as a concern for business leaders. In fact, this year cyber as a top concern reached an all time high, according to the 2024 Travelers Risk Index.

Cyber 306
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Why Does it Benefit Me to Have the Same Home Insurance Agency as My Condo or Townhome HOA?

Wren Insurance Agency

If you live in a condo, townhome, or HOA community, it's likely your association has a variety of insurance coverages on the community to protect you, your neighbors and guests on the complex's common grounds like the pool, clubhouse, gym and walkways. What you may not know is that it may benefit you to have the insurance agency for your home as your community association.

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Shippers Scramble for Workarounds Ahead of Threatened Port Strike

Insurance Journal

U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct.

More Trending

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Should Citizens Do More to Assist With Coming Flood Claims in Florida? Can it?

Insurance Journal

Citizens Property Insurance Corp., Florida’s largest insurer, has suspended policy binding ahead of predicted Hurricane Helene, and a board member asked if the carrier could do more to help policyholders manage flood insurance claims from the looming storm.

Claim 279
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Blog Post: California: Shipley’s Ship Has Sailed, But on 7/2/2024, LC 5909 Came to the Rescue

LexisNexis

By Hon. Colleen Casey, Former Commissioner, California Workers’ Compensation Appeals Board Just when you thought the right of “due process” was on the brink of destruction, the legislature amended Labor Code section 5909 to ensure it survives, at least in the realm of a true and complete judicial review for ALL “Petitions for Reconsideration and Removal, (hereinafter “Petitions for Recon.”).

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Central European Insurers’ Financial Strength to Remain Solid Despite Severe Floods

Insurance Journal

The heavy rains and severe floods of Storm Boris, which inundated Central and Eastern Europe during the second week in September, will be the most severe flood event in about a decade, carrying an insurance price tag of an estimated …

Insurance 277
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American Club announces 35% supplementary call

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post American Club announces 35% supplementary call appeared first on Insurance Marine News.

Marine 52
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Cape Cod Margaritaville Contractor Owes $300K in Workers’ Pay Plus $70K Penalty

Insurance Journal

A Virginia-based construction company converting a Cape Cod hotel into a Margaritaville Resort has reached a settlement with the state of Massachusetts over wage violations affecting 78 workers.

Claim 266
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Concern at further unrest in New Caledonia

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Concern at further unrest in New Caledonia appeared first on Insurance Marine News.

Marine 52
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Passenger Killed When Horse Smashed Through Windshield on California Highway

Insurance Journal

The passenger in a car was killed when a horse smashed through the windshield during a series of crashes on a Southern California interstate, authorities said. The first collision occurred about 2 a.m.

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New strategy needed to deal with Houthi threat, says Yemen

Insurance Marine News

Regional and international stakeholders need to define a new strategy to contain the increasingly well-armed Houthi militia, Yemen’s vice-president said on Tuesday September 24th. Aidarous al-Zubaidi, Yemen’s vice president and head of the Southern Transitional Council, told Reuters in an interview that “we think that it’s the moment that we join all the stakeholders, local, The post New strategy needed to deal with Houthi threat, says Yemen appeared first on Insurance Marine News.

Marine 52
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Markets/Coverages: Sompo Launches Marine Insurance Proposition for UK Market

Insurance Journal

Sompo, the Bermuda-based provider of commercial and consumer property/casualty insurance and reinsurance, announced the launch of a new national marine insurance proposition for the United Kingdom.

Marine 264
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Strike at Canadian port hits grain harvest supply chain

Insurance Marine News

Grain workers at Vancouver Port, British Columbia – Canada’s biggest port – went on strike on Tuesday September 24th over a dispute regarding hours and pay, threatening the supply chain for grain right in the middle of the harvest. Grain Workers Union Local 333 served a 72-hour strike notice on Saturday, and the measure took. The post Strike at Canadian port hits grain harvest supply chain appeared first on Insurance Marine News.

Marine 52
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Oklahoma Supreme Court Denies Rehearing for Survivors of Tulsa Race Massacre Lawsuit

Insurance Journal

OKLAHOMA CITY (AP) — The Oklahoma Supreme Court has rejected a request to reconsider its ruling to dismiss a lawsuit filed by the last two known living survivors of the 1921 Tulsa Race Massacre.

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US and Canada will negotiate maritime boundary in Beaufort Sea

Insurance Marine News

The United State and Canada have announced a plan to negotiate the maritime boundary in the Beaufort Sea. The two countries are to create a task force before the end of the year to negotiate the shared northern boundary and resolve the overlap along the continental shelf. The group will work toward a final agreement. The post US and Canada will negotiate maritime boundary in Beaufort Sea appeared first on Insurance Marine News.

Marine 52
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Snowmobiler Who Crashed Into Black Hawk Helicopter on Path Awarded $3 Million

Insurance Journal

The federal government was mostly responsible for a nighttime collision involving a snowmobiler who nearly died after hitting a Black Hawk helicopter that was parked on a Massachusetts trail, a judge ruled in awarding him $3.3 million in damages. U.S.

Damage 264
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Round-up

Insurance Marine News

Villa Vie Residences cruise ship Odyssey (IMO 9000699) was set, finally, to set sail from Belfast this week after repairs were completed. The ship had been undertaking sea trials since September 18th. Mike Peterson, managing director of Villa Vie, hoped the vessel would be under way as soon as September 25th. The ship had arrived. The post Round-up appeared first on Insurance Marine News.

Marine 52
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Vanguard Investments Fined for Greenwashing as Australia Eyes ESG Claims

Insurance Journal

Australia’s federal court has fined Vanguard Investments Australia Ltd. A$12.9 million ($8.9 million) for making misleading claims about a fund, the highest penalty issued in the country so far over greenwashing.

Claim 264
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Dutch experience rise in Russian LNG imports, urge further sanctions

Insurance Marine News

Imports of LNG from Russia at the Netherlands’ main terminal in Rotterdam have risen in recent months, which has led the Dutch government to demand further sanctions against Russia to reduce the level of trade. The Durch government said that imports of Russian LNG at the GATE terminal had increased during Q3, with the average. The post Dutch experience rise in Russian LNG imports, urge further sanctions appeared first on Insurance Marine News.

Marine 52
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3 Tufts Lacrosse Players Remain Hospitalized With Rare Muscle Injury

Insurance Journal

Three Tufts University men’s lacrosse players remained hospitalized with a rare muscle injury Monday after participating in a voluntary, supervised 45-minute workout earlier this month, according to a university spokesperson. The players became ill in the days following a Sept.

Injury 263
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Poor communication a factor in Wisbech grounding, says MAIB

Insurance Marine News

In its preliminary assessment summary of a vessel’s grounding in June this year, the Marine Accident Investigation Branch (MAIB) has said that poor communication, possibly tiredness, and a bank effect were the causes of the grounding of general cargo ship Baltic Arrow (IMO 9243863) on the River Nene while en route to Wisbech, England. The. The post Poor communication a factor in Wisbech grounding, says MAIB appeared first on Insurance Marine News.

Marine 52
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Cease and Desist Order Issued Against Iowa Contractor

Insurance Journal

The Iowa Insurance Division has issued a cease-and-desist orderagainst William Campbell and All or Nothing LLC, a Clive, Iowa limited liability company doing business as All or Nothing Roofing and Construction.

Liability 263
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Sompo UK offers nationwide “Marine Cargo UK”

Insurance Marine News

Sompo UK, part of Bermuda-based Sompo International Holdings Ltd (SIHL), and underwritten in the UK by underwritten by Endurance Worldwide Insurance Ltd (also part of SIHL), has announced the launch of “a new national marine insurance proposition for the United Kingdom allowing the insurer, for the first time, to write Marine Cargo, and Transport & The post Sompo UK offers nationwide “Marine Cargo UK” appeared first on Insurance Marine News.

Marine 52
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WTW Launches China Client Division With Yan Appointed as Division Leader

Insurance Journal

Insurance broker WTW has launched a new China Client Division within Corporate Risk and Broking, North America (CRB NA), as part of its strategy to expand its presence and broaden offerings focused on the Chinese market.

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Environmentalists block port of Marseille

Insurance Marine News

A group of environmentalists at the weekend used small boats to form a blocking of the port of Marseille, southern France. The protestors were highlighting what they said was the environmental damaged caused by the cruise ship industry, which many of them want to be abolished. About 20 people from an environmental group calling itself. The post Environmentalists block port of Marseille appeared first on Insurance Marine News.

Damage 52
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Probe Into EY India’s Office After Worker’s Death Finds it Lacked Labor Welfare Permit

Insurance Journal

An Ernst & Young (EY) office in western India, which employed a 26-year-old who allegedly died after facing a high workload, has operated since 2007 without a state permit which regulates work hours, a senior government official told Reuters.

Liability 262
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From Dog Shows to Dream Homes: Donna Gilbert's Unique Real Estate Journey

Your Journey With Jennie

Donna Gilbert , a Keller Williams Realty agent in Connecticut, shares her inspiring story of growth. With 22 years of experience , Donna has doubled her business goals in the past year by leveraging tools from the Maintain Your Momentum Membership & Mastermind and staying true to her authentic self. Key Takeaways from Donna’s Interview: Focus on Relationships: Donna stresses the importance of nurturing your database —past clients and contacts—and building genuine connection

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Cal/OSHA Cautioning Employers to Protect Workers From Wildfire Smoke

Insurance Journal

Cal/OSHA is urging employers to protect workers from unhealthy air due to wildfire smoke. The Line Fire is impacting air quality in areas around San Bernardino and Riverside counties.

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Insurance Claims-Handling Best Practices: Ensuring Smooth Claims Processing for Your Clients

Word & Brown

According to reporting last year by KFF (the independent source for health policy research, polling, and journalism formerly known as the Kaiser Family Foundation) data from insurers for Affordable Care Act Marketplace plans show nearly 17% of in-network claims were denied in 2021. The Centers for Medicare & Medicaid Services (CMS) says that for in-network claims, about 14% were denied because the claim was for an excluded service, 8% were denied due to a lack of preauthorization or referral

Claim 52
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Canada’s Axis Insurance Acquires Employee Benefits Specialist O’Neill Group

Insurance Journal

Axis Isurance Managers Inc., the Vancouver, Canada-based insurance broker, announced it has acquired the O’Neill Group, one of British Columbia’s premier employee group benefits, life insurance, and wealth advisory firms. Financial details of the deal were not disclosed.

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THE TOP 5 CRITICISMS I’VE GOTTEN FROM CLIENTS

Rough Notes

At some point, someone will blame you for their ills, regardless of how well you’re doing your job Hold yourself to a higher standard than any client ever could, and you’ll be less likely to lose a client because of your performance.

Agents 52
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Investigators Arrest Suspect From Washington Insurance Commissioner’s Most Wanted List

Insurance Journal

An Everett woman on Washington Insurance Commissioner Mike Kreidler’s Insurance Fraud Most Wanted list who failed to appear for her arraignment has been arrested.

Insurance 261
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TurboRater for Websites Bind Online

Zywave

With TurboRater for Website’s binding capabilities, prospects in select states can buy the auto policy of their choice at any time without leaving your website. With instant coverage and proof of insurance being provided after purchase, prospects become clients in minutes.

Policy 52