Fri.Jul 19, 2024

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Hurricane Beryl Caused Estimated $2-3B in Insured Losses to U.S. Property: Verisk

Insurance Journal

Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said.

Insurance 306
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Creating a Strong Personal Brand as an Insurance Agent

Final Expense Brokerage

Jul 3, 2024 5:23:42 AM Contact Us Share: Learn how to leverage your own brand to boost revenue in your insurance business. In today's competitive insurance industry, developing a strong personal brand is essential for standing out and building a loyal client base. A well-crafted personal brand not only sets you apart from other agents but also builds trust and credibility with your clients.

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Global Cyber Outage Grounds Flights, Hits Banks, Telecoms, Media

Insurance Journal

A software update wreaked havoc on computer systems globally on Friday, grounding flights, forcing some broadcasters off air and hitting services from banking to healthcare.

Cyber 299
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Overcoming the Overwhelm: Tips for Insurance Agent Burnout | Solstice

Solstice Insurance Broker

Are you feeling overwhelmed and exhausted at work? You need to know that insurance agent burnout is, unfortunately, common. 39 percent of people in the insurance industry have reported burnout. The national average is 35 percent. However, burnout doesn't have to be part of your every day.

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Global IT Crash That Blocked 911 Calls and Grounded Planes Eases

Insurance Journal

In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp.

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From Risk to Retention: Transforming Insurance with Predictive Churn Analytics

InsuredMine

Insurance agencies once focused primarily on assessing risks, underwriting policies, and managing claims. However, the landscape has shifted dramatically. Today, agencies face an equally critical challenge: customer retention. With customers having numerous options and the ability to switch providers easily, the stakes are higher than ever. This shift in focus is driven by the realization that acquiring a new customer can be significantly more expensive than retaining an existing one.

Risk 52
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What Disruptions Have Been Reported After the Global Tech Outage?

Insurance Journal

A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks.

Cyber 278

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Rain Helps First Responders Contain Forest Fire at New Jersey Military Base

Insurance Journal

BASS RIVER, N.J. (AP) — Heavy rain overnight helped firefighters gain more control over a forest fire burning at a military bombing range in southern New Jersey. Fire officials said Wednesday that half an inch (1.

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The Ozempic Era: What Are Weight Loss Medications? Could They Be Right For You?

Scott Insurance

Are you trying to lose weight but can’t seem to shed the pounds? You are not alone. This is a common frustration for millions of people who are trying to diet and exercise. In fact, one 2022 study estimated that 52% of the world’s adults are trying to lose weight. This struggle often leads people to explore additional options, including weight loss medications like Ozempic or Wegovy.

Risk 52
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Flooring Manufacturer Fined $300K for Exposing Texas Workers to Safety Violations

Insurance Journal

While one of the nation’s largest manufacturers of commercial flooring and surfaces — including recycled rubber products used throughout the nation in playgrounds, fitness centers and sports fields — touts its products’ safety and environmental benefits, a U.S.

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Appellate Division Affirms Dismissal of Insured’s Claim Against Its Carrier for Coverage of Intentional Harm Lawsuit Alleging Bodily Injury

New Jersey Workers' Comp

Intentional harm lawsuits can be harrowing for employers to defend because the allegations are generally not covered under the workers’ compensation policy. This was the situation posed in Tejada v. 74 Industries , A-2643-021 (App. Div. July 12, 2024). As the readers know, there are two parts to a workers’ compensation policy. One part is the elective provisions that apply to all claim petitions filed in the Division of Workers’ Compensation.

Injury 52
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Tesla’s California Car Registrations Fall for Third Straight Quarter

Insurance Journal

Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry …

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Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss

Insurance Journal

The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion.

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West Virginia’s Ludewig Retires as Agency Joins with Leavitt Group

Insurance Journal

Longtime West Virginia insurance agent Charles Ludewig has decided to retire, paving the way for his agency to join the Leavitt Group, one of the largest privately held brokerages in the country.

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Chicken Culling, Disposal Raise Concern as Bird Flu Spreads

Insurance Journal

The spread of bird flu among poultry and dairy farms has heightened some health experts’ concerns that the process of killing and disposing of poultry infected with the virus may pose a risk to humans and livestock.

Risk 260
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Allstate Reports Second Quarter Pretax Catastrophe Losses of $2.1B

Insurance Journal

Allstate Corp. said it recorded pretax catastrophe losses of about $2.1 billion in the second quarter.

Insured 278
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Why Texas Mass Power Outages Continue to Happen

Insurance Journal

It’s become a familiar cycle: A powerful storm sweeps through a swath of Texas and takes the electric system down in its grip. Trees might bend and topple, crashing down onto a power pole.

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Sizzle Safely: Insurance Strategies for a Worry-Free Summer BBQ

Insurance Journal

Independent agents play a critical role in helping clients find the right home insurance policies for them.

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Insurance Broker TWFG’s Shares Rise Nearly 30% in Market Debut

Insurance Journal

Insurance broker TWFG’s shares gained nearly 30% in their Nasdaq debut on Thursday, signaling strong investor demand for new stocks as the U.S. initial public offering market aims for a recovery. IPOs in the U.S.

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People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO

Insurance Journal

Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO.

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Soccer Officials Arrested After Melee That Damaged Hard Rock Stadium in Miami

Insurance Journal

MIAMI GARDENS, Fla.

Damage 279
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EPA Watchdog Investigates Delay in Using Specialized Plane After Ohio Derailment

Insurance Journal

The EPA’s Inspector General is investigating why the agency didn’t get its specialized plane loaded with advanced sensors into the air over East Palestine until four days after the disastrous Norfolk Southern derailment last year.

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Cargo Ship Sustains Damage After Houthi Attack in Gulf of Aden

Insurance Journal

A Singaporean-flagged cargo vessel was hit by Yemen’s Houthi missiles in the Gulf of Aden on Friday, forcing it to return to its last port of call to assess the damage.

Damage 264