Tue.Oct 22, 2024

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Allianz Mulls Ending Decades-Old Bajaj Insurance India JVs

Insurance Journal

Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter. Allianz plans to exit Bajaj Allianz Life Insurance Co.

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National Flood Lessons: Strict Enforcement of Deadlines Dooms Policyholder’s Flood Claim—A Reopened Claim Does Not Stop the Ticking Time Bomb

Property Insurance Coverage Law

Policyholders and public adjusters need to be aware that National Flood Insurance claims are very technical with demanding deadlines that must be met. While speaking in a webinar last night, I kept repeating the mantra—file the proof of loss exactly right, delivering it on time to the insurer and with all documentation on a filled … The post National Flood Lessons: Strict Enforcement of Deadlines Dooms Policyholder’s Flood Claim—A Reopened Claim Does Not Stop the Ticking Time Bomb a

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Supreme Court Rejects Bid to Let President Fire Independent Agency Leaders

Insurance Journal

The US Supreme Court declined to hear an appeal that sought to give the president control over agencies that have long operated independently, potentially including the Federal Trade Commission and Securities and Exchange Commission.

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Blog Post: Navigating Political Expression in the Workplace: A Guide for In-House Counsel

LexisNexis

We are now heading into the homestretch of yet another contentious election season in a national political climate where deep divisions are prevalent in our neighborhoods and town squares. The workplace is no exception to these environments of hyper political disagreements. A recent survey by Littler Mendelson of 400 in-house counsel and corporate executives found that 87% of employers expressed concern with managing divisive political and social beliefs among their employees leading up the elec

Policy 122
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Inflation Gauge Is Easing But Some of Biggest Expenses Are Left Out

Insurance Journal

Price pressures have eased substantially over the past two years, but a disconnect remains between what US inflation data show and what millions of Americans experience with their finances.

Insurance 279
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Blog Post: Lex Machina Releases Enhancements to its Litigation Footprint Feature

LexisNexis

Lex Machina is proud to announce the release of enhancements to Litigation Footprint, a feature that offers an impressively broad range of party litigation data and that can combine searches across state, federal, and administrative courts into an easily digestible report. The new enhancements include a clarified report format identifying plaintiffs, defendants, and law firms for each where available.

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Smart Green Shipping gets funds to continue wind sail development

Splash: Finance and Insurance

Renewable energy firm Drax will add funding to develop Smart Green Shipping’s FastRig automated wind sail. Drax will inject £1m ($1.3m) into the initiative, matched by funding from the UK Government’s Clean Maritime Demonstration Competition grant.

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Connecticut Obtains Settlement Over Data Breach Affecting Webster Bank Customers

Insurance Journal

Connecticut Attorney General William Tong announced a settlement with Guardian Analytics, Inc. and its successor Actimize, Inc., resolving an investigation into a data breach affecting Webster Bank customers’ data.

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Reach Subsea secures $15m EU funding for unmanned offshore vessels

Splash: Finance and Insurance

Norwegian offshore services player Reach Subsea has secured backing from the EU Innovation Fund to scale up the development of its remote unmanned surface vessels.

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State Farm Campaign Aims to Provide Smoke Alarms to 1,300+ Texas Homes

Insurance Journal

State Farm will provide smoke alarms to more than 1,300 Texas homes during the Out to Alarm Texas 2024 campaign, the Insurance Council of Texas shared.

Insurance 290
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Navigating Rising Healthcare Costs: Insights for Employers

Scott Insurance

As we approach 2025, employers are bracing for significant increases in healthcare costs driven by several factors, including soaring prescription drug expenses, inflation and worsening chronic health conditions among employees. Scott Insurance’s recent Milliman Benefits Benchmarking survey offered key insights into these trends. While the commercial health insurance market continues to experience increasing pricing pressure, there are strategies employers can deploy to mitigate costs and manage

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SEC Accuses Four Firms of Downplaying SolarWinds-Related Hacks

Insurance Journal

Four hacked companies will pay a total of almost $7 million to settle US Securities and Exchange Commission allegations that they downplayed the significance of the cyberattacks, the latest fallout from the massive SolarWinds Corp. breach. Unisys Corp.

Cyber 264
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Loss prevention tool helps ships navigate heavy weather

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Loss prevention tool helps ships navigate heavy weather appeared first on Insurance Marine News.

Marine 52
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Record-Breaking Temperatures Mask a Subtler Threat: Chronic Heat

Insurance Journal

Phoenix has become a nerve-wracking bellwether for extreme heat. Arizona’s capital recently endured a three-week stretch when every day broke a heat record, with thermometers peaking at 117F (47C) on Sept. 28.

Injury 264
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Fuel quality remains a critical issue: LR

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Fuel quality remains a critical issue: LR appeared first on Insurance Marine News.

Marine 52
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Michigan Construction Company to Pay $180K Fine for Lead Paint Violations

Insurance Journal

U.S. Environmental Protection Agency announced a $180,000 settlement with All Point Construction LLC in Allen Park, Michigan to resolve alleged violations of the federal lead renovation, repair and painting regulations.

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Tug saved from grounding by USCG and Canadian Coast Guard actions

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Tug saved from grounding by USCG and Canadian Coast Guard actions appeared first on Insurance Marine News.

Marine 52
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Hurricane Milton Caused $1.5B-$2.5B in Losses to Florida Agriculture

Insurance Journal

Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida’s crops and agricultural infrastructure, according to a preliminary assessment released by the state’s Department of Agriculture and Consumer Services on Thursday.

Damage 264
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Panama orders immediate cancellation of all sanctioned vessels

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Panama orders immediate cancellation of all sanctioned vessels appeared first on Insurance Marine News.

Marine 52
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Natural Disasters Cost China $13 Billion in January-June

Insurance Journal

Natural disasters such as flooding, drought and extreme temperatures cost China 93.16 billion yuan ($12.83 billion) in the first half of this year, with almost 33 million people affected, the government said on Friday.

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Four crewmembers feared dead after small cargo ship capsizes

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Four crewmembers feared dead after small cargo ship capsizes appeared first on Insurance Marine News.

Marine 52
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Meta Platforms Defeats Shareholder Lawsuit Over Child Safety Claims

Insurance Journal

Meta Platforms and Chief Executive Mark Zuckerberg won the dismissal of a lawsuit claiming they misled shareholders in Meta’s proxy statement about their ability to ensure the safety of children who use Facebook and Instagram.

Claim 263
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Grounded container ship refloated off Seychelles

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Grounded container ship refloated off Seychelles appeared first on Insurance Marine News.

Marine 52
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Another Satellite Breakup Adds to Rising Problem of Space Junk

Insurance Journal

A large communications satellite has broken up in orbit, affecting users in Europe, Central Africa, the Middle East, Asia and Australia, and adding to the growing swarm of space junk clouding our planet’s neighborhood.

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Megalopolis continues journey despite Houthi claims of successful attack

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Megalopolis continues journey despite Houthi claims of successful attack appeared first on Insurance Marine News.

Claim 52
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Unison Risk Advisors Adds Avondale as First to Join Its Non-Retail Division

Insurance Journal

Unison Risk Advisors (URA) reports that Avondale Insurance Associates has joined the firm and is the first company to join URA’s non-retail division.

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5 Tips for Maximizing Your Agency’s Efficiency

Word & Brown

Your success as an insurance agent – and the success of your agency – are dependent on your ability to manage your time and maximize your sales. Below are some tips to help you. How to Increase Health Insurance Agent Productivity 1: Streamline routine tasks: Employing new technology can give you the tools necessary to automate routine (and repetitive) tasks.

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The Secretive World of Russian Oil Tanker Insurance Revealed

Insurance Journal

One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill.

Insurance 258
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BOGLE AGENCY INSURANCE – 2024 BEST PRACTICES AGENCY

Boyle Agency Insurance

Retaining “Best Practices Agency” Designation For 22 Years! Bogle Agency Insurance , Lyndhurst NJ, has been named a “Best Practices Agency” for 2024. This marks the 22nd consecutive year that we have done so, and we join an elite group of independent insurance agencies nationwide. The “Best Practices Agency” designation is awarded to participants in the Best Practices Study, which analyzes and documents the business practices of the highest-performing agencies

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Walmart to Pay $7.5M to Resolve California Hazardous Waste Charges

Insurance Journal

Walmart will pay $7.5 million to resolve charges that the largest U.S. retailer illegally disposed of hazardous and medical waste from its facilities into California municipal landfills.

Liability 255
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Blog Post: Improve Legal Matter Management with Enterprise Legal Management Software

LexisNexis

In corporate law, legal matter management is the primary focus of the in-house lawyer and the legal operations team , helping to streamline workflow, collaboration, performance, and team communication. While lawyers manage the intricacies of cases, they also pay attention to corporate governance as the gatekeepers of corporate integrity and risk mitigation.

Risk 52
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What a Weak La Niña Could Mean for Winter Weather

Insurance Journal

The National Oceanic and Atmospheric Administration’s Climate Prediction Center says there is a 60% chance that a weak La Niña event will develop this autumn and could last until March.

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Shake-out for US health insurers looms as government boom ends

Elmore

Long term, the trends remain in insurers’ favour but there are volatile times ahead The post Shake-out for US health insurers looms as government boom ends appeared first on Elmore Insurance Brokers.

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Aviation Challenges, Coverages, and Claims – What’s Brewing Podcast (Episode 4)

Insurance Journal

This post is part of a series sponsored by IAT Insurance Group. In this episode, VP of Aviation Underwriting Rob Lombardo discusses marketplace trends in the Aviation industry following the Aviation Insurance Association Annual Conference.

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