Thu.Jan 02, 2025

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Verisk to Get First Cat Model Under Review for Insurance Ratemaking in California

Insurance Journal

Verisk said on Thursday it will be the first modeler to request a review of its wildfire catastrophe model under a reform pushed by California Insurance Commissioner Ricardo Lara.

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Federal Flood Insurance: Strict Compliance with Proof of Loss Requirements is Essential

Property Insurance Coverage Law

Public adjusters and policyholders must remain vigilant and precise when dealing with federal flood insurance claims under the National Flood Insurance Program (NFIP). A recent decision in Blocdahl Leasing, LLC v. American Strategic Insurance Corporation 1 highlights a crucial pitfall: Failure to submit a signed proof of loss can completely bar a claim for additional … The post Federal Flood Insurance: Strict Compliance with Proof of Loss Requirements is Essential appeared first on Propert

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US Dockworkers, Port Employers Set to Restart Talks Next Week

Insurance Journal

Leaders from a US dockworkers’ union and the group that represents their employers are set to resume contract talks on Jan. 7 as the threat of a strike looms, according to a person familiar with the negotiations.

Risk 287
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What are your obligations as a landlord?

Cover4LetProperty

For some individuals, a buy to let business might be their entire livelihood. For others, it might have been something into which they have fallen almost by accident a property they inherited or a home in which they no longer live the so-called accidental landlord. (Please read our free The Accidental Landlord Guide if you are a new, accidental landlord ).

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Wildfire Smoke Health Risks Can Linger in Homes That Escape Burning − as Colorado Survivors Discovered

Insurance Journal

(THE CONVERSATION) On Dec. 30, 2021, a wind-driven wildfire raced through two communities just outside Boulder, Colorado. In the span of about eight hours, more than 1,000 homes and businesses burned.

Risk 286
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Marine round-up : 3rd January 2025

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 : 3rd January 2025 appeared first on Insurance Marine News.

Marine 52

More Trending

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Turkiye looking at maritime deal with Syria

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Turkiye looking at maritime deal with Syria appeared first on Insurance Marine News.

Marine 52
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Bernard Madoff’s Victims Collect $4.3B as US Government Fund Completes Payouts

Insurance Journal

A U.S. government fund to compensate people swindled by Bernard Madoff announced its tenth and final distribution on Monday, saying it will have paid out $4.3 billion to 40,930 of the late Ponzi schemer’s victims. Richard Breeden, the former U.S.

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Tug collides with bulker on Lower Mississippi

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Tug collides with bulker on Lower Mississippi appeared first on Insurance Marine News.

Marine 52
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Brown & Brown’s Nexus Agrees to Acquire Reinsurance MGA Arma in Dubai

Insurance Journal

Nexus Underwriting, a Brown & Brown group business, announced it has entered into an agreement to acquire Arma Fusion Ltd., the parent company of Arma Underwriting Ltd.

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Peru and Ecuador hit with huge waves; ports temporarily closed

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Peru and Ecuador hit with huge waves; ports temporarily closed appeared first on Insurance Marine News.

Marine 52
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SageSure Closes Acquisition of GeoVera Advantage Insurance Services in California

Insurance Journal

SageSure closed the acquisition of GeoVera Advantage Insurance Services LLC in Fairfield, California. The entity will now function as a newly formed managing general agent and includes the residential earthquake risk underwriting franchise.

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Seven dead after ship capsizes in Haiti while loading lorries

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Seven dead after ship capsizes in Haiti while loading lorries appeared first on Insurance Marine News.

Marine 52
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Morgan Stanley to Leave Sector Climate Coalition

Insurance Journal

Investment bank Morgan Stanley said on Thursday it had decided to leave the Net-Zero Banking Alliance, becoming the latest U.S. lender to quit the sector’s top global climate coalition.

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Multiple oil tanker leaks near Kerch Strait leads to appeal for federal Russian help

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Multiple oil tanker leaks near Kerch Strait leads to appeal for federal Russian help appeared first on Insurance Marine News.

Marine 52
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Tugboat Sinks Into Mississippi River After Collision With Tanker Ship in Louisiana

Insurance Journal

LULING, La. (AP) The crew of a tugboat was quickly rescued when their vessel sank into the Mississippi River following a collision with a tanker ship in Louisiana. The U.S.

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Singapore’s Vallianz hit by cyber attack

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Singapores Vallianz hit by cyber attack appeared first on Insurance Marine News.

Cyber 52
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Peed Named RIMS President for 2025

Insurance Journal

The Risk & Insurance Management Society today announced that effective Jan. 1 Kristen Peed will serve as president for 2025 the organization’s 75th anniversary year.

Risk 264
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Negotiations on US ports dispute could resume

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Negotiations on US ports dispute could resume appeared first on Insurance Marine News.

Marine 52
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Computers of Senior US Treasury Leaders Accessed in Hack

Insurance Journal

Chinese state-sponsored hackers broke into the computers of senior US Treasury Department leaders as part of a recent breach of the agency, according to a US official and another person familiar with the matter.

Cyber 264
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Estonia sends naval vessel to guard subsea power cables

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Estonia sends naval vessel to guard subsea power cables appeared first on Insurance Marine News.

Marine 52
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Top Climate Group for Banks, Insurers, and Asset Managers Is Making Changes

Insurance Journal

The world’s biggest climate coalition for financial firms is making adjustments after several high-profile banks, insurers and asset managers opted out.

Insured 263
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Seven members of Eagle S crew banned from leaving Finland

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Seven members of Eagle S crew banned from leaving Finland appeared first on Insurance Marine News.

Marine 52
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Bureau of Labor Releases Final 2023 Workplace Injury, Fatality Stats

Insurance Journal

Last year, there were 5,283 fatal work injuries recorded in the United States, a 3.7% decrease from 5,486 in 2022, the U.S. Bureau of Labor Statistics reported. The fatal work injury rate was 3.

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ACA Commissions

PSM Brokerage

ACA Commissions for 2025 Lets delve into the essential details you need to understand about ACA commissions in 2025. How Commissions Are Structured Per Member Per Month (PMPM): Agents earn a flat rate for each member enrolled, paid monthly as long as the policy remains active. This is the most common structure. Per Contract Per Month (PCPM): Similar to PMPM but based on the entire contract rather than individual members.

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Marsh McLennan Agency Acquires New York’s Acumen Solutions

Insurance Journal

Marsh McLennan Agency (MMA) announced the acquisition of Acumen Solutions Group LLC, a Melville, New York-based insurance agency. Founded in 2012, Acumen provides personal insurance and customized commercial insurance programs, with specialties in the construction, real estate, and aviation industries.

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Mastering Retargeting: How Insurance Agents Can Convert Window Shoppers into Loyal Clients

The Insurance Marketer

Imagine this: a potential client visits your website, clicks around, maybe even checks out your insurance offerings, but then they leave without signing up. Most agents might think, “Well, that.

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Deep Freeze Will Send Some US Temperatures Plunging

Insurance Journal

Waves of intense cold will send temperatures plunging as much as 20F (11C) below normal across the central and eastern U.S. this month, triggering ice storms that could down power lines and snarl travel from the Midwest to the Mid-Atlantic.

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Reinsurance costs fall as sector deploys record capital

Elmore

Decrease follows two years of bumper profits for providers The post Reinsurance costs fall as sector deploys record capital appeared first on Elmore Insurance Brokers.

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Judge Allows Lawsuit Claiming Poland Spring Water Is Not From a Spring

Insurance Journal

A federal judge in Connecticut refused to dismiss a long-running lawsuit accusing the former Nestle Waters North America of defrauding consumers by labeling its Poland Spring bottled water as “spring water.

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MAG Mutual Insurance Company: 2025 Medical Malpractice Review

LeverageRx

MAG Mutual Insurance Company (MagMutual for short) provides medical professional liability insurance to physicians and hospitals.

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South Korea Police Search Jeju Air, Airport Operator Over Fatal Plane Crash

Insurance Journal

South Korean police said on Thursday they had raided Jeju Air and the operator of Muan International Airport as part of their investigation into Sunday’s crash that killed 179 people in the worst aviation disaster on the country’s soil.

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Appellate Court Rules Employers Can Rebut COVID Presumption Even if Judge Initially Finds Claimant is an Essential Employee

New Jersey Workers' Comp

Since Governor Murphy signed Covid legislation several years ago, there has been debate about the legal significance of having a Covid presumption. Some practitioners thought that if the Judge of Compensation should find before trial that the claimant is an essential employee, that means the employee has won the case and then moves on to the issue of permanency.

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Investigation After Train Hits Fire Truck in South Florida, Injuring 15

Insurance Journal

Three firefighters and a dozen passengers were injured in Florida last week when a fire truck with its lights flashing drove around rail crossing arms and into the path of a high-speed passenger train after waiting for another train to …