Mon.Dec 30, 2024

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California Commissioner Issues Regulation to Allow Reinsurance in Ratemaking

Insurance Journal

California Insurance Commissioner Ricardo Lara on Monday announced what he is calling the final step in his efforts to help the state’s ailing homeowners insurance market with the Net Cost of Reinsurance in Ratemaking Regulation, which enables reinsurance as a …

Insurer 259
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The Majority of Insurance Agents Do Not Read the Policies They Sell—Many Professionals in the Insurance Service Sector Fail to Read the Full Policy

Property Insurance Coverage Law

Insurance policyholders do not read the insurance policies that are sold to them. The insurance contracts are not even provided to the policyholder until after the product is purchased. The vast majority of policyholders rely upon and trust their licensed insurance agents to provide them the best coverage at the best affordable price without having … The post The Majority of Insurance Agents Do Not Read the Policies They SellMany Professionals in the Insurance Service Sector Fail to Read t

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Top South Central Region Insurance Journal Stories of 2024

Insurance Journal

Readers of Insurance Journal were drawn to South Central headlines detailing the complexities facing the insurance industry, from legal and regulatory issues to the evolving landscape of cyber threats and natural disasters.

Cyber 241
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Blog Post: OFLC Reminder: H-2B Application Filing Timelines for 2025 Peak Filing Season

LexisNexis

OFLC, Dec. 30, 2024 "The Office of Foreign Labor Certification (OFLC) reminds employers and other interested stakeholders that the filing window to submit an H-2B Application for Temporary Employment Certification (Form ETA-9142B and appendices) requesting work start dates of April 1, 2025, or later, will open on January 1, 2025, at 12:00 a.m. Eastern Time.

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Top Midwest Region Insurance Journal Stories of 2024

Insurance Journal

This year’s top Insurance Journal Midwest headlines feature a range of misconduct, from fraud and embezzlement to high-profile lawsuits. Top stories stories also highlight increasing frequency of severe weather event and the evolving legal landscape of workplace safety.

Insurer 241
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Reflections on 2024: A Year of Innovation and Growth

Cowbell

As we close out the year, we believe its important to pause and reflect on the key milestones achieved by our teams and partners. These accomplishments have established a solid foundation for 2025 and positioned us for continued growth. We remain steadfast in our commitment to fostering market innovation and to building a safer digital ecosystem. Heres a summary of the years key achievements: Empowering Policyholders Through Insights and Risk Reduction: Our Cyber Round-Up Reports shed light on t

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Blog Post: EOIR Pulls Two Proposed Rules

LexisNexis

This document is scheduled to be published in the Federal Register on 12/31/2024 "The Executive Office for Immigration Review (EOIR) is withdrawing two of its Notices of Proposed Rulemaking (NPRMs): (1) Motions To Reopen and Reconsider; Effect of Departure; Stay of Removal, and (2) Good Cause for a Continuance in Immigration Proceedings, both published on November 27, 2020, and is providing this notice of withdrawal.

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Some Property Catastrophe Rates Fall 5%-15% as Reinsurers’ Appetite Grows: Report

Insurance Journal

Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan.

Risk 235
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One Dead, Two Hurt After Tyson Foods Plant Fire in Georgia

Insurance Journal

ATLANTA (AP) A woman died and two other people were hospitalized with injuries after a fire at a Tyson Foods plant in southwest Georgia, state officials said Friday.

Injury 225
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Arthur J. Gallagher & Co. Acquires California’s BMR Insurance

Insurance Journal

Arthur J. Gallagher & Co. announced the acquisition of Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance. Terms of the transaction were not disclosed.

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US Treasury Says It Was Breached by Chinese-Backed Hacker

Insurance Journal

The US Treasury Department was hacked by a Chinese state-sponsored actor through a third-party software service provider, according to a letter the agency sent to Congress on Monday.

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The Top Insurance Journal Stories of 2024 for the Southeast

Insurance Journal

From insurance lawsuits resulting from a murderous South Carolina lawyer and his family, to relentless Florida storm claims, a tight mobile home market and body-shop fraud charges, news stories gave Insurance Journal readers in the Southeast plenty to digest in …

Insurer 214
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‘Baby Driver’ Actor Hudson Meek Remembered After Fall from Car in Alabama

Insurance Journal

VESTAVIA HILLS, Ala. (AP) Teenage actor Hudson Meek has died after he fell out of a moving vehicle in Alabama, authorities said. Meek, 16, was hurt on Dec.

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Tornadoes in Texas and Mississippi Kill 2 and Injure 6

Insurance Journal

HOUSTON (AP) A strong storm system threatened to whip up tornadoes in parts of the U.S. Southeast on Sunday, a day after severe weather claimed at least two lives as twisters touched down in Texas and Mississippi.

Claim 206
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A 9th Telecom Firm Hit by Massive Chinese Espionage Campaign, Says White House

Insurance Journal

A ninth U.S.

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The Year’s Most Popular Insurance Journal Stories—West

Insurance Journal

Wildfires and their effect on the California’s homeowners insurance crisis dominated Insurance Journal’s West headlines this year. Other popular stories included big lawsuits, and stories on fraudsters and bad actors being caught and punished.

Insurer 204
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Top International Insurance Journal Stories of 2024

Insurance Journal

The top 10 most well-read international stories for 2024 covered a diverse range of topics, including nuclear verdicts, Taylor Swift’s concert cancellations, and the return to stability of the reinsurance market. Two articles focused on the Baltimore Bridge collapse.

Insured 199
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Florida Condo Owners Face Deadline and Higher Costs with New Regulations

Insurance Journal

MIAMI (AP) Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022.

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South Korea Orders Airline Safety Probe After Worst Domestic Crash Kills 179

Insurance Journal

South Korea’s acting President Choi Sang-mok on Monday ordered an emergency safety inspection of the country’s entire airline operation as investigators worked to identify victims and find out what caused the deadliest air disaster on South Korean soil.

Insurer 193
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Iowa Contractor Agrees to Consent Order Over Unlicensed Public Adjusting

Insurance Journal

The Iowa Insurance Division last month entered into a consent order with a contractor who had made claims they were offering services that require a public adjuster license.

License 180
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Maryland Sues Gore-Tex Maker Over ‘Forever Chemicals’ Pollution

Insurance Journal

Maryland is suing the company that produces the waterproof material Gore-Tex often used for raincoats and other outdoor gear, alleging its leaders kept using “forever chemicals” long after learning about serious health risks associated with them.

Risk 179
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Bird Flu Likely Mutated Within a Louisiana Patient: CDC

Insurance Journal

A genetic analysis suggests the bird flu virus mutated inside a Louisiana patient who contracted the nation’s first severe case of the illness, the U.S. Centers for Disease Control and Prevention said last week.

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Arthur J. Gallagher & Co. Acquires BMR Insurance in California

Insurance Journal

Arthur J. Gallagher & Co. acquired Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance.

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End of Criminal New Mexico Movie Shooting Case Against Baldwin May Unlock Civil Suit

Insurance Journal

The conclusion of a criminal case against Alec Baldwin in the fatal shooting of a cinematographer clears the way for a related civil lawsuit by relatives of the deceased woman and efforts to depose the actor under oath, attorneys for …

Damage 147
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OSHA Cites Contractor It Says Ignored Warnings Before Fatal Trench Collapse

Insurance Journal

A federal workplace safety investigation has found a Glenburn, Maine general contractor ignored an onsite expert’s repeated warnings and the company’s own site-specific safety plan prior to an incident in which an employee suffered fatal crushing injuries when an unbraced …

Injury 147
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Helene’s Flooding: The Human Toll on One Family in Tennessee

Insurance Journal

ERWIN, Tenn. (AP) Jerry and Sibrina Barrett never spent a day apart over 35 years. They worked long hours, never took vacations, and liked to relax with their son at home.

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Two Florida Tourist Sites Halt Drone Shows After Boy Was Hit at Orlando Event

Insurance Journal

ORLANDO, Fla.

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New York State Government to Monitor Its AI Use

Insurance Journal

New York state government agencies will have to conduct reviews and publish reports that detail how they’re using artificial intelligence software, under a new law signed by Gov. Kathy Hochul.

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Trump Fails to Win New Trial in E. Jean Carroll Sex-Abuse Case

Insurance Journal

A federal appeals court denied Donald Trump’s request for a new trial in New York writer E.

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