Wed.Sep 04, 2024

article thumbnail

New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown

Insurance Journal

In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co.

Risk 312
article thumbnail

What Are the Duties of An Insurance Agent to the Policyholder—A Michigan Case Example

Property Insurance Coverage Law

The duties of an insurance agent to the policyholder will differ depending on state law. Yesterday’s post about a Michigan coverage case, Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement, noted that there was also an issue with insurance agent negligence. This will be the second post in … The post What Are the Duties of An Insurance Agent to the Policyholder—A Michigan Case Example appeared first on Property Insurance Coverage La

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains

Insurance Journal

Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, improved pricing, more favorable terms and conditions, and improving investment income, according to a report published by S&P Global Ratings.

Risk 279
article thumbnail

Top Ladder Safety Practices for Home and Work

Central Insurance

Optimize safety when using a ladder at your home or business with these ladder safety tips from the loss control experts at Central. The post Top Ladder Safety Practices for Home and Work appeared first on Central Insurance Blog.

Insured 130
article thumbnail

For Small Commercial Businesses, Insurance Satisfaction Is a Matter of Trust

Insurance Journal

Trust impacts customer satisfaction, loyalty and brand advocacy more than other factors when small businesses choose a commercial insurance provider. J.D. Power’s 2024 U.S.

article thumbnail

Comprehensive Review of Top CRMs for the Insurance Industry

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Choosing the right Customer Relationship Management (CRM) system is crucial for enhancing customer interactions and streamlining operations within the insurance industry. Many insurance agents understand the importance of integrating a robust CRM solution into their daily workflows, yet few commit to fully leveraging its capabilities to strengthen the backbone of their business.

More Trending

article thumbnail

Insurance Conferences: A Guide for Agents and Industry Professionals

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Attending insurance conferences is a strategic move for any professional in the insurance industry, whether you are an established agent or new to the field. These industry events are more than just opportunities to learn—they are essential for staying ahead in a competitive market, fostering partnerships, and gaining insights into the future of insurance.

Agents 130
article thumbnail

People Moves: CRC Group Adds New Underwriters in Tennessee, Georgia

Insurance Journal

CRC Group, a wholesale specialty insurance distributor with headquarters in Birmingham, Alabama, has added new faces to its team in the Southeast. Sam Rector joined the Nashville office as underwriting team leader.

article thumbnail

New study suggests banks provide cheaper loans to greener shipping companies, but not greener ships

Splash: Finance and Insurance

A new study by UCL Energy Institute on the relationship between financing terms and climate performance of shipping companies reveals what its authors terms as a “troubling trend” of green financing.

Insurance 108
article thumbnail

AM Best Downgrades Credit Rating of Iowa’s IMT Insurance

Insurance Journal

AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of IMT Insurance Company and its affiliate, Wadena Insurance Company.

article thumbnail

Salvors say it is unsafe to tow the Sounion

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Salvors say it is unsafe to tow the Sounion appeared first on Insurance Marine News.

Marine 98
article thumbnail

Three Charged With Auto Insurance Fraud in Miami After False Injury Claims

Insurance Journal

Florida authorities have charged a Miami-area nurse practitioner and two others with creating false medical reports and attempting to defraud an auto insurance carrier out of more than $47,000.

article thumbnail

Indian Coast Guard helicopter lost at sea during tanker evacuation

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Indian Coast Guard helicopter lost at sea during tanker evacuation appeared first on Insurance Marine News.

Marine 98
article thumbnail

Explosion Destroys Southwest Louisiana Home, Killing 1 and Injuring 5

Insurance Journal

RAGLEY, La. (AP) — Investigators are trying to determine the cause of an explosion that destroyed a southwest Louisiana home, killing a teenage boy from Alabama and injuring five other people. Louisiana State Fire Marshal Bryan J.

264
264
article thumbnail

Cargo ship loaded with ammonium nitrate ordered out of Tromsø, heads to Vannoy

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Cargo ship loaded with ammonium nitrate ordered out of Tromsø, heads to Vannoy appeared first on Insurance Marine News.

Marine 98
article thumbnail

Driver of Partially Automated Mustang Charged With DUI Homicide

Insurance Journal

A woman was intoxicated and using a partially automated driving system when she caused a March highway crash in Philadelphia that killed two people, authorities said as they announced homicide charges against the driver.

264
264
article thumbnail

Another container ship loses vessels overboard off South Africa

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Another container ship loses vessels overboard off South Africa appeared first on Insurance Marine News.

Marine 95
article thumbnail

Who Is to Blame for Deadly 2017 Grenfell Tower Fire?

Insurance Journal

A public inquiry into the devastating 2017 London Grenfell Tower blaze concluded on Wednesday that a “culmination of decades of failure” by the government and the construction industry ultimately led to the disaster that killed 72 people.

Building 264
article thumbnail

2024 mid-year hull report from CEFOR

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post 2024 mid-year hull report from CEFOR appeared first on Insurance Marine News.

Marine 92
article thumbnail

UK’s Specialist Risk Group Acquires Motor Fleet MGA Capulus

Insurance Journal

Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of Capulus, a specialist motor fleet managing general agent (MGA). Financial details of the deal were not disclosed.

Risk 264
article thumbnail

NGOs take EU Commission to court over “sustainable finance” criteria in EU Taxonomy

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post NGOs take EU Commission to court over “sustainable finance” criteria in EU Taxonomy appeared first on Insurance Marine News.

Marine 52
article thumbnail

Ryan Specialty Completes Buy of Assets of Greenhill From Alera

Insurance Journal

Ryan Specialty said it completed its acquisition of certain assets of Greenhill Underwriting Insurance Services from Alera Group, Inc, effective Sept. 1. The deal was previously announced last month. Alera acquired Greenhill in 2022.

article thumbnail

Blade failure at Dogger Bank wind farm due to commissioning process, says GE Vernova

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Blade failure at Dogger Bank wind farm due to commissioning process, says GE Vernova appeared first on Insurance Marine News.

Marine 52
article thumbnail

Judge Says X Must Face Class Action Age Bias Claims Over Mass Layoff

Insurance Journal

A federal judge in San Francisco has ruled that roughly 150 older workers who were laid off by social media platform X when Elon Musk acquired the company can sue for age discrimination as a class, exposing the company to …

Claim 264
article thumbnail

Maersk Shekou undergoes temporary repairs after Fremantle crash

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Maersk Shekou undergoes temporary repairs after Fremantle crash appeared first on Insurance Marine News.

Marine 52
article thumbnail

Ex-VW CEO Denies Criminal Charges Over Diesel Emissions Scandal

Insurance Journal

Volkswagen AG’s ex-Chief Executive Officer Martin Winterkorn denied duping customers and taking too long to alert markets about diesel-emission cheating, telling a German criminal court he was never properly informed about the vast scale of the scam.

263
263
article thumbnail

Lloyd’s boss warns on UK tax rises as insurance market reports bumper conditions

Elmore

John Neal expresses concern on deterring investment in latest industry warning ahead of Budget The post Lloyd’s boss warns on UK tax rises as insurance market reports bumper conditions appeared first on Elmore Insurance Brokers.

article thumbnail

Clear Group Acquires UK MGA Accelerate Underwriting

Insurance Journal

The Clear Group, the London-based independent insurance broker, announced the acquisition of the managing general agency, Accelerate Underwriting. Financial terms of the deal, which is its fourth involving an MGA, were not disclosed.

article thumbnail

NAIFA to Lobby Against Medicare Plan Commission Cuts

PSM Brokerage

NAIFA urges members to oppose Medicare plan agent commission cuts, emphasizing the crucial role of licensed professionals in assisting beneficiaries with plan options and coverage. Discussions with Congress and CMS aim to highlight the potential negative impact on beneficiaries. Despite market turmoil, agents hope to secure fair compensation for 2025 sales amidst concerns over benefit changes and insurer strategies to manage costs and margins.

License 52
article thumbnail

UK Grenfell Tower Fire Inquiry Blames All Deaths on Incompetence and Greed

Insurance Journal

A public inquiry into the devastating 2017 London Grenfell Tower blaze that killed 72 people blamed the disaster on failings by the government, construction industry and, most of all, the firms involved in fitting the exterior with flammable cladding.

Building 259
article thumbnail

Insurance groups urge state support for ‘uninsurable’ cyber risks

Elmore

Industry believes state backstops would boost market and encourage good practice The post Insurance groups urge state support for ‘uninsurable’ cyber risks appeared first on Elmore Insurance Brokers.

Cyber 52
article thumbnail

Norway Seeks to End Climate Injunction Against 3 Oilfields

Insurance Journal

Norway’s government will ask an appeals court on Wednesday to lift injunctions against developing three oil and gas fields, part of a wider effort by Oslo to overturn an earlier verdict invalidating their permits on environmental grounds.

250
250
article thumbnail

The Growing Demand for Senior Benefits: Why Now is the Best Time to Start a Career

P&L Financial Services

A Growing Job Market The senior care sector is expanding rapidly, offering a wealth of job opportunities. The U.S. Bureau of Labor Statistics projects that employment in healthcare occupations will grow 15% from 2019 to 2029, much faster than the average for all occupations. This growth is largely driven by the aging population’s need for medical services and support.

52
article thumbnail

People Moves: Acrisure Re Makes Leadership Changes in London; Dale Enters Int’l Professional Indemnity Market, Led by Barnes From Westfield

Insurance Journal

This edition of International People Moves details appointments at Acrisure Re and Dale Underwriting Partners. A summary of these new hires follows here.