Insurance Journal
OCTOBER 16, 2024
Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind.
Property Insurance Coverage Law
OCTOBER 16, 2024
Bad legal advice is to be avoided. Wrong legal advice and instruction can be disastrous. I was thinking about this while calling FAPIA Managing Director Nancy Dominguez to take down a wrong proof of loss form that some ignorant attorney had sent to a group as the proper NFIP proof of loss to be filed … The post Policyholders Beware of Whom You Hire Regarding Your National Flood Insurance Claim appeared first on Property Insurance Coverage Law Blog.
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Insurance Journal
OCTOBER 16, 2024
Progressive Insurance will pay $500,000, the policy limits, to the family of a young woman killed in a 2019 boat crash involving Alex Murdaugh’s youngest son, essentially ending the family’s legal actions in the tragedy.
The Property Insurance Law Observer
OCTOBER 16, 2024
In the recent decision Universal Property & Casualty Insurance Co. v. Qureshi , the Florida Fourth District Court of Appeal held that homeowners cannot recover replacement cost benefits unless they have incurred expenses for repairs. The court emphasized that under both the insurance policy’s plain language and Florida Statute §627.7011(3)(a), payment of replacement cost value is contingent upon the actual completion of repairs.
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Insurance Journal
OCTOBER 16, 2024
Texas Insurance Commissioner Cassie Brown issued an order this week disapproving Texas Windstorm Insurance Association’s proposed 10% increase to property and commercial rates. The Department Department of Insurance said in an Oct.
Splash: Finance and Insurance
OCTOBER 16, 2024
Shipping nuclear propulsion start-up CORE POWER is set to reach a funding milestone of $500m, which will support the UK-based company in finishing the technology designs and building the program for the maritime industry.
Insurance Industry Brief brings together the best content for insurance professionals from the widest variety of industry thought leaders.
Splash: Finance and Insurance
OCTOBER 16, 2024
The Maritime Anti-Corruption Network (MACN) has received two-year project funding from the US government’s development agency USAID to help in the fight against transnational maritime sector corruption. These funds are part of USAID’s ‘Doing Business with Integrity’ activity and the collaboration will be part of its ‘Countering Transnational Corruption Grand Challenge for Development’.
Insurance Journal
OCTOBER 16, 2024
Thousands of Massachusetts medical professionals and other employees of troubled hospital operator Steward Health Care are at risk because Steward does not have adequate liability or workers’ compensation coverage in place to protect them after Steward’s exit from the state, …
Healthinsurance.org
OCTOBER 16, 2024
In this article DACA recipients may be eligible to use the Marketplace Georgia switches to state-run Marketplace platform State-funded health insurance subsidies change in several states Some Oregon enrollees may switch to Basic Health Program Individual and family premium increases average 6-7% At least 11 states will see carrier entries and exits New short-term health insurance rules affect access to coverage Rules prevent unauthorized enrollments and plan changes Open enrollment for 2025 ACA
Insurance Journal
OCTOBER 16, 2024
Facebook parent company Meta must face lawsuits by U.S. states accusing it of fueling mental health problems among teens by making its Facebook and Instagram platforms addictive, a federal judge in California ruled on Tuesday. Oakland-based U.S.
EverQuote
OCTOBER 16, 2024
Recruiting insurance agents is always a challenge. Finding great ones is even more difficult, especially when you’re short-staffed and need someone to follow up with all the qualified leads you’re getting. You might be tempted to hire from the first batch of decent candidates, but you know that probably won’t bode well for the long-term success of your business.
Insurance Journal
OCTOBER 16, 2024
An administrative law judge has ordered a Pennsylvania-based federal contractor to pay $85,284 in back wages for failing to pay prevailing wages, fringe benefits and overtime pay owed to workers employed on multiple federal construction projects, according to the U.S.
R&R Insurance
OCTOBER 16, 2024
Many organizations rely on seasonal workers to supplement their regular workforce during peak times. Your immediate thought upon reading this might be that this is about determining benefits eligibility under the Affordable Care Act (ACA). Well, that’s only part of the challenge; there is so much more to consider! The ACA addresses implications related to group medical benefits.
Insurance Journal
OCTOBER 16, 2024
Britain’s departure from the European Union cost London’s financial center about 40,000 jobs, the Lord Mayor of the City of London told Reuters, a far deeper impact from Brexit than previous estimates.
Insurance Marine News
OCTOBER 16, 2024
The Suez Canal Authority (SCA) has announced reductions in transit and mooring fees for yachts in the Red Sea, effective November 1st. “The move is part of the SCA’s flexible marketing policies to encourage yacht tourism and develop marine tourism in the Red Sea region by providing facilities and incentives for yachts crossing the canal,”. The post Suez Canal cuts transit, mooring fees for Red Sea yachts appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
The Pennsylvania Supreme Court has let stand a state appeals court ruling that tackled for the first time what is meant by “your computers” under electronic data coverage in a commercial property policy.
Insurance Marine News
OCTOBER 16, 2024
India’s white and parboiled non-basmati rice consignments continue to be held up at major ports by Customs Authorities, NorthStandard correspondent GAC India has reported. It noted that this was despite the Government easing the curbs on shipments from the country. Until the end of September, Indian Customs authorities had been holding up parboiled consignments in.
Insurance Journal
OCTOBER 16, 2024
After at least three appeals court decisions in the last four years, homeowner lawsuits that take issue with a Florida insurance carrier’s managed repair program may finally have run their course.
Insurance Marine News
OCTOBER 16, 2024
General cargo ship Kathrin (IMO 9570620) continues to be tailed by human rights activists amid claims that it is carrying munitions to be delivered to the Israeli military. The vessel commenced its journey in late July, leaving Hai-phong in Vietnam. Since then it has had trouble mooring off Namibia and in the Mediterranean. Political activist. The post Alleged munitions ship still being watched by human rights activists appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report.
Insurance Marine News
OCTOBER 16, 2024
Gregory Murray has resigned from his role as Divisional Director (Marine) at Howden Broking (Insurance) and will join the expanding marine liability team at Ark. The broker will join the marine liability team within the new Ken Syndicate 3832. Damien Carr, head of Marine Consortium at Ark Syndicate Management Ltd, said that he was “delighted. The post Ark continues marine liability expansion appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
Some of the most prominent artificial intelligence models are falling short of European regulations in key areas such as cybersecurity resilience and discriminatory output, according to data seen by Reuters.
Insurance Marine News
OCTOBER 16, 2024
A significant percentage of vessels currently sailing will be more than 20 years old by 2030, meaning that if the current slow demolition market continues, insurers will have to accept that older vessels are “the new normal”, according to the latest weekly report from Greece-based Xclusiv Shipbrokers. “This ageing fleet presents a multitude of concerns, The post Another five years of ageing fleets, warns report appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
The City of Isleton will take part in a community-based flood insurance initiative for as part of a two-year $200,000 grant to provide payouts to residents if floodwaters reach a pre-determined depth.
Insurance Marine News
OCTOBER 16, 2024
The car carrier Fremantle Highway (IMO 9667344) has entered a new stage of its life, under a new name (the Floor), after many months of salvage operations in Rotterdam. Boskalis, manager of heavy load carrier Boka Vanguard (IMO 9618783) has embarked on the next important phase in the new life of a vessel that has. The post Ex-Fremantle Highway loaded onto Boka Vanguard In Rotterdam appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
This edition of International People Moves details appointments at Aon and Ryan Specialty Underwriting Managers International. A summary of these new hires follows here. Aon Announces New Senior Leadership Roles in U.S.
Insurance Marine News
OCTOBER 16, 2024
It has already been reported that the Suez Canal has suffered a massive decline in income as a result of the ongoing geopolitical crisis in the Red Sea. Now it has been reported that oil flows through the Bab Al-Mandab Strait are down by 50% year on year. The US Energy Information Administration said that. The post Oil flows through Bab Al-Mandab are down by 50% this year appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
Singapore lawmakers passed an amendment to a bill that will effectively block Allianz SE’s proposed S$2.2 billion ($1.7 billion) acquisition of a majority stake in a local insurance firm.
Insurance Marine News
OCTOBER 16, 2024
The 86-metre yacht Kingdom 5-KR (IMO 1002213), belonging to Saudi Prince Al-Waleed bin Talal, was reported to have suffered significant damage after it crashed last Friday October 11th into a dock at Bizerte Marina in Tunisia. The vessel was attempting to dock when it appeared to have failed to stop in time and clipped the. The post Superyacht crashes into dock in Tunisia appeared first on Insurance Marine News.
Insurance Journal
OCTOBER 16, 2024
A federal jury convicted former Castroville Police Chief, Christopher Filline, for one count of conspiracy to commit wire fraud, the U.S. Attorney’s Office for the Western District of Texas announced.
Smart Insurance Agents
OCTOBER 16, 2024
A medical health insurance broker helps you choose the best health insurance plan tailored to your needs. Unlike agents tied to one insurer, brokers work with multiple companies to give you unbiased options. This article will explain how brokers operate, the benefits of using one, and how to find the right broker for you. Key Takeaways Medical health insurance brokers serve as independent intermediaries, offering a broad range of plans from multiple insurers to provide unbiased, personalized adv
Insurance Journal
OCTOBER 16, 2024
Young British drivers who have just passed their test should be banned from carrying passengers of a similar age and should display special plates, according to the chief executive officer of the AA car breakdown service.
Mark Jackson Insurance Agency
OCTOBER 16, 2024
Multicolored umbrellas by Pixabay When it comes to personal insurance , most people are familiar with their auto , homeowners , or renters policies. However, fewer may be aware of umbrella insurance —a type of coverage that goes beyond the limits of your existing policies to protect you from substantial financial risk. Choosing the right umbrella policy can provide peace of mind, especially if you have significant assets to protect.
Insurance Journal
OCTOBER 16, 2024
Fitch Ratings has affirmed the ‘A+’ (Strong) Insurer Financial Strength (IFS) ratings for Cincinnati Financial Corporation’s (CINF) three property/casualty insurance subsidiaries and its life insurance subsidiary the ‘A+’ (Strong).
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