Mon.Nov 18, 2024

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USGS: Pair of Small Quakes in Southern California’s Inland Empire

Insurance Journal

A pair of small earthquakes were reported in Southern California’s Inland Empire on Saturday, according to the U.S. Geological Survey. The first magnitude 3.5 earthquake occurred at 2:17 p.m. northwest of Fontana. It was 1.

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Proof of Loss Requirements: A 222-Year-Old Case Still Relevant for Modern Insurance Claims

Property Insurance Coverage Law

The 1802 New York Supreme Court case of Lenox v. United Insurance Company 1 offers timeless guidance on the distinction between preliminary “proof of loss” requirements and “proof” evidence required at trial. This distinction remains critically important for today’s insurance practitioners and policyholders alike. This post is a follow-up to Where Did the Proof of Loss … The post Proof of Loss Requirements: A 222-Year-Old Case Still Relevant for Modern Insurance Claims appeared first

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Safety Board Reports on Hazardous Ammonia Accident at Virginia Food Processor

Insurance Journal

The U.S. Chemical Safety and Hazard Investigation Board (CSB) released an update on its investigation into the hazardous ammonia release at a food processing facility in Sterling, Virginia that injured dozens of employees.

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Blog Post: Checklist of What Law Firms Should Demand in a Complete Legal AI Solution

LexisNexis

By Madison Johnson, Esq. | Manager, Large Markets Consumers were introduced to the generative artificial intelligence (Gen AI) revolution two years ago with the launch of ChatGPT, then the category of Legal AI — Gen AI solutions trained specifically for the legal profession — was born with the rollout of Lexis+ AI in October 2023. Just one year later, more than half of Am Law 200 law firms (53%) have already purchased Legal AI tools, according to a LexisNexis survey , and this rapid adoption sho

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Florida OIR Approves 1% Average Workers’ Compensation Rate Decrease

Insurance Journal

Florida employers will soon see the smallest decrease in workers’ compensation rates in years – just a 1% reduction from current overall rates in the voluntary market.

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Hong Kong’s role in global ship finance

Splash: Finance and Insurance

The city has plenty of core strengths when it comes to providing capital to shipping. The latest installment from our brand new magazine being distributed across Hong Kong Maritime Week.

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This Black Friday and Cyber Monday, Protect Yourself and Your Business from Cyber Threats

Cowbell

Black Friday and Cyber Monday are synonymous with big sales, increased online shopping, and higher retail volumes—both in stores and online. But these high-traffic days also mark a peak period for cybercriminals looking to exploit the surge in consumer activity, stressed systems, and distracted employees. As the shopping frenzy begins, it’s crucial to remain vigilant about cybersecurity to prevent disruptions or breaches that could leave your business vulnerable well after the deals are over.

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Atmospheric River to Slam the Pacific Northwest and California

Insurance Journal

Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places.

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Australia’s TCorp invests in Cyan Renewables 

Splash: Finance and Insurance

Fast-expanding offshore wind vessels pureplay Cyan Renewables has secured backing from Australia’s TCorp. The funding arm of Australia’s most populous state, New South Wales, said it had acquired an interest in Cyan with an initial investment of over $100m, with plans for further cash injections to support the Singapore-based company’s growth.

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California Department of Insurance Moves Modeling Regulation Proposal Forward

Insurance Journal

The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval.

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New York Shipping Exchange to launch container indices next year

Splash: Finance and Insurance

The New York Shipping Exchange (NYSHEX) has received investment from Intercontinental Exchange (ICE) and will proceed with plans to launch its own series of container freight indices next year.

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AI Weather Models Have Shown Promise This Hurricane Season

Insurance Journal

When Hurricane Beryl was rushing across the Atlantic basin in July, the weather forecasting tool made by Google Deepmind, the tech company’s artificial intelligence unit, saw something other models missed.

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What’s Next for D&O Insurance as 2024 Comes to a Close?

ProWriters

As 2024 unfolds, the Directors and Officers (D&O) Insurance market is hitting yet another turning point. After several years of dramatic rate fluctuations, insurers, brokers, and businesses are bracing for what could be a defining year for D&O premiums. With rising litigation risks, emerging industries, and a more competitive marketplace, the question remains: Will the soft market continue, or are we in for another shake-up?

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Spain’s Record-Breaking Floods Push Insured Losses Above €4 Billion ($4.2 Billion)

Insurance Journal

Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS.

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Cigna Medicare Advantage Certification Details

PSM Brokerage

Need help getting certified? Talk to a PSM team member How to Get Certified to Sell Cigna Medicare Plans As an insurance agent, getting certified to sell Cigna Medicare plans is a key step to expanding your portfolio and offering clients access to trusted healthcare solutions. Whether you’re new to selling Medicare or an experienced agent looking to add Cigna to your options, the certification process is straightforward and packed with opportunities to grow your business.

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Smithfield to Pay $2 Million in Minnesota Child Labor Violation Settlement

Insurance Journal

MINNEAPOLIS (AP) — Smithfield Foods, one of the nation’s largest meat processors, has agreed to pay $2 million to resolve allegations of child labor violations at a plant in Minnesota, officials announced Thursday.

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Overcoming Objections in Medicare Sales

PSM Brokerage

Turning 'No' Into 'Know' As a Medicare insurance agent, objections are part of the game. But objections aren’t the end of the conversation—they’re the beginning of a new opportunity. Whether it’s skepticism, confusion, or just plain hesitation, learning to navigate objections with confidence and humor can turn potential roadblocks into steppingstones.

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Insurer, Contractors Allege Staged Injury Claims Scheme Under New York Scaffold Law

Insurance Journal

A construction industry captive insurer along with three construction contractors have filed a lawsuit alleging a massive New York fraud scheme involving staged workplace accidents and bogus workers’ compensation and personal injury lawsuits backed by complicit lawyers and medical providers.

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Departing Manulife CEO urges greater scrutiny of private equity deals

Elmore

Roy Gori says increased oversight would be ‘welcome’ as a way to reinforce confidence in the insurance industry The post Departing Manulife CEO urges greater scrutiny of private equity deals appeared first on Elmore Insurance Brokers.

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Judge Reduces UPS Driver’s $237.6M Bias Verdict to $39.6M

Insurance Journal

A federal judge reduced a $237.6 million jury award against United Parcel Service to $39.6 million in the case of a Black former driver who accused the package delivery company of workplace bias and wrongful firing.

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7 Marketing Ideas for Insurance Agents

PSM Brokerage

Proven Marketing Strategies for Agents to Boost Sales Marketing as an insurance agent can feel like trying to juggle flaming torches while riding a unicycle. But fear not! With the right strategies (and maybe a fire extinguisher), you can captivate your audience, build your brand, and drive sales. Here are seven top marketing ideas to ignite your efforts, along with stats, quotes, and examples to make them actionable. 1.

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NHTSA Opens Probe Into Over 110,000 Ford SUVs on Seat Belt Concern

Insurance Journal

The U.S. auto safety regulator said on Monday it had initiated a recall query into about 112,567 Ford SUVs over an issue with seat belt retractors.

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What Does It Mean to Be a No-Fault State?

TGS

TGS Insurance » Blog What Does It Mean to Be a No-Fault State? If you’ve ever shopped for car insurance or heard about Florida’s unique approach to auto laws, you might have stumbled across the term “no-fault state.” But what does it really mean to be a no-fault state? How does it affect drivers, and why is it such a hot topic in the world of insurance?

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Bullet Strikes Body of Southwest Plane Without Injuries at Dallas Airport

Insurance Journal

DALLAS (AP) — A bullet struck the body of a Southwest Airlines airplane preparing for departure from a Dallas airport, forcing the cancellation of the Friday evening flight, the airline said.

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Native American Heritage Month: Honoring American Indian and Alaska Native Workers

CDC: Workers Compensation

There are currently 574 federally recognized tribes across the United States. American Indian and Alaska Native (AI/AN) workers play a crucial role in the U.S. workforce and economy, yet little is known about the hazards that AI/AN workers face. This is the first in a series of blogs by the National Institute for Occupational Safety and Health (NIOSH) honoring Native American Heritage Month.

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Voluntary Evacuations Help Firefighters Contain New York State Forest Wildfire

Insurance Journal

A voluntary evacuation of homes over the weekend helped New York firefighters continue their progress in containing a state park wildfire near the New Jersey border.

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Blog Post: CWCI Analyzes the Impact of Inflation on the California Workers’ Comp Medical Fee Schedule

LexisNexis

Oakland - A new California Workers’ Compensation Institute (CWCI) analysis that examines how medical inflation impacts allowable fees under the California workers’ compensation Official Medical Fee Schedule (OMFS) finds that physician and non-physician practitioner service fees represent more than half of treatment payments in the system and that differences in inflationary factors used between OMFS and Medicare explain the growing differential between California workers’ compensation and Medica

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Missouri Officers Arrested for Allegedly Searching Womens’ Phones for Nude Photos

Insurance Journal

ST. LOUIS (AP) — Two Missouri police officers were indicted separately this week and accused of similar crimes — pulling over women and searching their phones to find nude photos.

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Blog Post: Elevate Your Law Firm's Business Development with News Monitoring

LexisNexis

By Madison Johnson, Esq. | Manager, Large Markets Law firm marketing professionals are under the gun more than ever in today’s legal industry landscape. A report presented at last year’s Law Firm Marketing Summit found that almost two-thirds of marketing and business development teams are spending more time dealing with urgent problems than with developing strategic initiatives to drive revenues.This daily pressure to extinguish fires distracts from the time these law firm leaders can invest in

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California Wildfire Destroys 243 Structures, Cancellation Moratorium Issued

Insurance Journal

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 200,000 policyholders affected by the Mountain Fire, which has destroyed 243 structures.

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Blog Post: OFLC Publishes Notice of Proposed Rulemaking: H-2B Employer-Provided Wage Surveys

LexisNexis

OFLC, Nov. 18, 2024 "The Employment and Training Administration (ETA) published a notice of proposed rulemaking (NPRM) in the Federal Register proposing to amend its regulations at 20 CFR 655.10(f) for employer-provided wage surveys for the H-2B program. The publication of the NPRM is necessary because the U.S. District Court for the District of Columbia held the 2015 Wage Rule (the Rule), specifically the data and methodology requirements of 20 CFR 655.10(f)(2) and (f)(4), to be procedural

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Inszone Acquires LIA of Texas

Insurance Journal

Inszone Insurance Services announced the acquisition of LIA Texas, LLC, an agency based in Dallas, Texas. This strategic acquisition enhances Inszone’s footprint in Texas, enhancing the company’s ability to provide personalized service and diverse insurance solutions to clients in Texas.

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Blog Post: Biden’s Last and Best Gift to Legal Immigrants: Advancing the Filing Dates in the 2025 January Visa Bulletin to Current

LexisNexis

Cyrus Mehta & Kaitlyn Box, Nov. 18, 2024 "Donald Trump’s recent reelection has sparked fears that restrictionist immigration policies will abound come January 20, 2025 onwards. During the time that remains of his presidency, President Biden can still act to safeguard the immigration system and implement policies that support and benefit immigrants through executive action.

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TSLA Announces Election of Officers & Directors at Annual Meeting

Insurance Journal

The Texas Surplus Lines Association, Inc. announces the election of the following Officers and Directors at its 69th Annual Meeting held at the Four Seasons Hotel Austin on November 11, 2024.

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