Thu.Aug 15, 2024

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High Claims From Medium-Sized Disasters Keep Driving Hard Reinsurance Market

Insurance Journal

Hard reinsurance pricing conditions are likely to last longer than in previous market cycles mainly as a result of persistently high claims activity from the accumulation of medium-sized disaster losses and secondary perils, according to an AM Best report.

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OSHA Costs, Training, and Compliance Must Be Accounted For By Restoration Contractors, Roofers, and Adjusters

Property Insurance Coverage Law

The recent tragic story, Teen Roofer Fatally Electrocuted on the Job, Federal Probe Launched, reinforces the lesson that OSHA costs, training, and compliance must be accounted for and accomplished by restoration contractors, roofers, and adjusters. Roofing and restoration work involves inherent hazards like working at heights, handling heavy materials, using power tools, and operating machinery … The post OSHA Costs, Training, and Compliance Must Be Accounted For By Restoration Contractors

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Best Agencies to Work For: Submit Now.

Insurance Journal

Is your agency a Best Place to Work? Then it’s time to nominate your agency for Insurance Journal’s “Best Agency to Work For” award. To nominate your agency, you must be a current employee of the agency you are nominating.

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Insurance Fraud Cost Statistics Are a Fraud

Property Insurance Coverage Law

Insurance companies claim that when claims numbers are simply made up, that act constitutes fraud. If that is so, then insurance company fraud statistics are a fraud. The often wrongfully cited estimate of $308.6 billion is an admittedly “make believe” estimate. A recent article by Kenneth S. Klein in the Journal of Insurance Regulation, The … The post Insurance Fraud Cost Statistics Are a Fraud appeared first on Property Insurance Coverage Law Blog.

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Construction Defects Are Not Covered Property Damage in Commercial Liability Policy

Insurance Journal

A home builder is not covered under the property damage coverage in its commercial liability policy for construction defects for which it was responsible.

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You Just Got Your Idaho Contractor License, Now What?

Central Insurance

You’ve earned your Idaho contractor license—now what? Learn the crucial steps to safeguard your business with expert tips from Central Insurance The post You Just Got Your Idaho Contractor License, Now What? appeared first on Central Insurance Blog.

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Hundreds Able to Return Home After Fleeing Wildfire Along California-Nevada Line

Insurance Journal

Hundreds of people were allowed to return home this week after being forced to flee a wildfire west of Reno that also shut down Interstate 80 along the California-Nevada line.

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Maine Regulators Reject Letting Utility Report Suspect Marijuana Growers to Police

Insurance Journal

Maine utility regulators unanimously rejected on Tuesday an electric utility’s proposal to proactively report high consumption that signals a marijuana growing operation to law enforcement officials in an attempt to aid police crackdown on illicit operations.

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Quick roof maintenance tips you can do this weekend.

Frankenmuth Insurance

Do you know how old your roof is or what condition it’s in? Taking the time to conduct simple checks in key areas can help you identify when it’s time to call in reinforcements. Follow our roof maintenance tips and learn what to look for when it comes to roof damage, aging, and necessary repairs. Look for these warning signs from the street or yard: Shingles that do not lay flat, but instead curl or buckle A roof that looks old or irregular Black spots or lines on the roof.

License 104
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Pressure Mounts on Texas Regulator as ‘Zombie’ Oil Wells Spill Toxic Fluids

Insurance Journal

PECOS COUNTY, Texas – On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged …

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Blog Post: California: A Clarification on the Requirements for Expedited Review under AD Rule 9792.9.1

LexisNexis

By Hon. Susan V. Hamilton, Former Assistant Secretary and Deputy Commissioner, California Workers’ Compensation Appeals Board The June 13, 2024 edition of the LexisNexis Workers’ Compensation eNewsletter included an article that discussed the requirements of an expedited request for medical treatment and the utilization review (UR) of that request (see [link] ).

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Severe Typhoon to Disrupt Flight, Train Services in Japan

Insurance Journal

Hundreds of flights and some bullet train services will be suspended as Typhoon Ampil makes its way toward Japan’s main island Friday, impacting travel plans during the country’s annual summer break. Japan Airlines Co.

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Is Your Insurance Website ADA-Compliant? How To Avoid the Flood of Accessibility Lawsuits

Neilson Marketing Services

Over the past year, the number of website accessibility lawsuits under the Americans with Disabilities Act (ADA) has surged, highlighting the need for digital properties to be compliant. This trend is particularly relevant for insurance companies, as ADA compliance can help prevent costly lawsuits and improve the user experience. If you’re unsure about your insurance website’s compliance status, it’s time to take action.

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Client Mix-up Leads to Lawsuits, Bar Complaint Against Mississippi Comp Lawyer

Insurance Journal

What’s in a name? Thousands of dollars, a lost job, denied insurance coverage and the possibility of a suspended law license for a Mississippi workers’ compensation attorney, apparently.

License 277
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Blog Post: Learn About New Practical Guidance Content and Resources

LexisNexis

Review this exciting guide to some of the recent content additions to Practical Guidance, designed to help you find the tools and insights you need to work more efficiently and effectively. Practical Guidance customers, please click here to see What’s New in July 2024. For previous editions, follow this link to review May , and this link to review June 2024 content additions.

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Judge Bars Insurers From Going After Defendants Who Agreed to $4B Maui Wildfire Settlement

Insurance Journal

A Maui judge’s ruling resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement only from the settlement amount defendants, who victims blame for …

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Leading flag registries to cooperate in identifying “problematic” vessels

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Leading flag registries to cooperate in identifying “problematic” vessels appeared first on Insurance Marine News.

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FirstEnergy Corp. to Pay $20M to Settle Ohio Bribery Scheme

Insurance Journal

The energy company at the center of a $60 million bribery scheme in Ohio will pay $20 million and avoid criminal charges as part of a deal with state prosecutors to resolve its role in the scandal. Akron-based FirstEnergy Corp.

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Chinese investigation finds that Newnew Polar Bear caused pipeline break: report

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Chinese investigation finds that Newnew Polar Bear caused pipeline break: report appeared first on Insurance Marine News.

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Chicago Contractor Faces $268K Penalty for Exposing Workers to Deadly Fall Hazards

Insurance Journal

A federal workplace safety investigation has found that a metro-Chicago carpentry contractor with a long history of exposing employees to potentially deadly hazards again ignored regulations to protect workers from falls. For the seventh time since 2013, the U.S.

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More Problems for CalMac; Turkish yard delays delivery of new ferry

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post More Problems for CalMac; Turkish yard delays delivery of new ferry appeared first on Insurance Marine News.

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Chevron to Pay $550 Million Settlement to Richmond, California

Insurance Journal

Chevron Corp. is to pay Richmond City Council $550 million over 10 years, the city said in a statement, in a settlement that saw it drop a proposed ballot on a new tax on the oil major’s Richmond refinery.

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Equinor, Dominion Energy winners in Central Atlantic offshore wind auction

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Equinor, Dominion Energy winners in Central Atlantic offshore wind auction appeared first on Insurance Marine News.

Marine 52
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UNC Launches Risk Management Institute with IAP’s Ursano Chair of Advisory Board

Insurance Journal

The University of North Carolina at Chapel Hill announced it is launching an Institute for Risk Management and Insurance Innovation, an interdisciplinary research and innovation center.

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Fremantle port workers to strike for 48 hours, sparking delays in vessel movements

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Fremantle port workers to strike for 48 hours, sparking delays in vessel movements appeared first on Insurance Marine News.

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J&J Eyes Texas as Venue for Next Round of Baby Powder Fight

Insurance Journal

Johnson & Johnson was twice blocked in New Jersey from getting bankruptcy protection from one of its units to resolve billions of dollars in cancer claims tied to baby powder use.

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Russian diesel STS transfers increase in northern Aegean

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Russian diesel STS transfers increase in northern Aegean appeared first on Insurance Marine News.

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Auto Insurance Shopping Elevated As Loss Costs Potentially Moderate

Insurance Journal

As industrywide auto insurance loss costs appear to be moderating, consumers continue to shop policies at elevated rates, according to the latest quarterly Insurance Personal Lines and Perspectives report from TransUnion.

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New US Bill looks to alter 1851 Limitation of Liability Act

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post New US Bill looks to alter 1851 Limitation of Liability Act appeared first on Insurance Marine News.

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PCF Acquires Asset Insurance Agency in Massachusetts

Insurance Journal

Utah-based PCF Insurance Services reports it has acquired the insurance business of Asset Insurance Agency, based in Peabody, Massachusetts. Asset Insurance Agency sells auto, home, commercial and life insurance in Massachusetts, New Hampshire, Maine, Florida, Rhode Island and Connecticut.

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Alleged “toxic cargo” will be returned to Europe

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Alleged “toxic cargo” will be returned to Europe appeared first on Insurance Marine News.

Marine 52
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Trucking Firm Owner Pleads Guilty to Charges Related to Crash That Killed 7 Bikers

Insurance Journal

An owner of a now defunct trucking company agreed to plead guilty on Tuesday to federal charges related to a deadly crash in New Hampshire that killed seven motorcyclists.

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Insurer Admiral’s profits beat forecasts as customer numbers jump

Elmore

UK group benefits from stronger underwriting conditions in key motor division The post Insurer Admiral’s profits beat forecasts as customer numbers jump appeared first on Elmore Insurance Brokers.

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Roofing Materials Supplier to Oregon Jobsite Fined $92K for Repeated Fall Hazard Exposure

Insurance Journal

The Oregon Occupational Safety and Health Division fined a building materials supplier $92,226 for repeatedly failing to protect workers from potential fall hazards. The citation issued to ABC Supply Co. Inc.

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New Zealand port requires physical fitness test for dockers after fatal accident

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post New Zealand port requires physical fitness test for dockers after fatal accident appeared first on Insurance Marine News.

Marine 52
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All-Star Hamby Sues WNBA, Aces Alleging Discrimination, Retaliation for Being Pregnant

Insurance Journal

All-Star Dearica Hamby sued the Women’s National Basketball Association (WNBA) and her former team in federal court Monday regarding her treatment from the Las Vegas Aces while pregnant.

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Italian customs seize weapons and drones found in containers going to Libya

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Italian customs seize weapons and drones found in containers going to Libya appeared first on Insurance Marine News.

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