Mon.Jul 15, 2024

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Wall Street Pushes Back After Activists Escalate Protests

Insurance Journal

Against a backdrop of intensifying climate protests targeting Wall Street, the heavyweights of US finance are pushing back against what they characterize as a fundamentally flawed debate.

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How much time should you spend coaching your sales team?

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. In sales management, every change, every opportunity, every moment is a coaching opportunity – Ali Mirza How much time should you be spending coaching your sales team? The reality is there’s no one size fits all approach to this answer. It’s like asking how long is a piece of string.

Agents 130
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Novatae Acquires Missouri-Based Denali Specialty Group

Insurance Journal

Novatae Risk Group announced that it has acquired the assets of Denali Specialty Group, LLC of St. Louis, MO on July 1, 2024. Terms of the transaction were not disclosed.

Risk 289
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Providing Clarity Regarding the Regulation of Respirators Used in Health Care Settings

CDC: Workers Compensation

A Discussion Paper, Streamlining Regulatory Oversight of Respirators Used in Health Care Settings will Improve Worker Protection, was recently published in the National Academy of Medicine’s NAM Perspectives journal by respiratory experts outside of the federal government. This paper highlights continued confusion amongst interested parties including health care organizations and manufacturers seeking approval regarding federal regulations and guidance on the use of air-purifying respirators (AP

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Hacker Says AT&T Paid About $400,000 to Erase Sensitive Data

Insurance Journal

A hacker who claims to have stolen sensitive call and text logs from AT&T Inc. said they were paid about $400,000 to erase the data trove.

Claim 317
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Insurance Email Marketing for Professionals: A Guide

Constant Contact

Insurance agents and companies are always looking for new ways to attract new business and keep their existing customers. Email marketing is the right tool for the job. Insurance email marketing helps agents increase customer retention, boost lead generation and conversions, and streamline communication strategies. It’s surprisingly easy to get started once you know the basics.

Insurer 52

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TurboRater for Websites Info Sheet

Zywave

TurboRater for Websites is re-imagining the insurance shopping experience with a fully embedded quoting tool that is branded to fit right on your website. Consumers can compare their existing policies against 200+ carriers with a mobile-first, fully responsive, and customizable platform and even bind coverage instantly online.

Policy 52
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Washington Roofers Fined $1.27M for Putting Workers at Risk of Falling

Insurance Journal

Four Washington roofing companies are facing $1.27 million in fines from the Washington State Department of Labor & Industries for safety violations including allowing workers on top of homes without fall protection. L&I cited and fined Allways Roofing Inc.

Risk 278
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Triple-I Brief Discusses Homeowners Insurance Market Challenges

Triple-I: Homeowners Insurance

By Max Dorfman, Research Writer, Triple-I Homeowners insurance costs have continued to consistently rise in the wake of the pandemic, alongside several other challenges, according to a new Triple-I Issues Brief. The COVID-19 pandemic and Russian invasion of Ukraine sparked inflation – particularly with regard to replacement costs due to material shortages.

Insured 52
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Parametric Insurance’ Helps Farmers and Others Hit Hard by Extreme Weather

Insurance Journal

Joemar Flores, a spindly 28-year-old, gestured across his family’s farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance.

Insurer 278
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Avoid 2 Common Pitfalls That Delay Care in Workers’ Compensation Claims

AMAXX

One of the most critical aspects of managing workers’ compensation claims is ensuring that injured employees receive prompt medical treatment. Unfortunately, a common procedural mistake can leave employees in a painful and detrimental limbo: the delay of care due to technicalities in insurance coverage. This issue often arises when the compensability of a workers’ compensation claim is questioned, leading to neither workers’ compensation insurance nor general health insurance c

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Growing Southern California Wildfire Threatening 4,100 Structures

Insurance Journal

Evacuation orders and warnings are in place for roughly 4,200 people due to a growing wildfire in southern California that is threatening 4,100 structures. The Shelly Fire in Siskiyou County is now 15,232 acres and is 3% contained.

Damage 278
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Featured Content – Sales Cloud Personal Lines

Zywave

Sales Cloud Personal Lines includes access to more than 70 items of marketing content. These can be found under the Prospecting tab of the Zywave user console.

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P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast

Insurance Journal

Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025, according to a report from the Insurance Information Institute (Triple-I) …

Premium 277
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The Digital Advantage: How Insurance Agents Can Establish a Strong Online Presence 

Agency Height

A well-established digital presence can offer numerous benefits. Learn how to develop strong digital presence for insurance agents in 2024.

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Hub Acquires Swanson Insurance Agency in Louisiana

Insurance Journal

Hub International Limited announced the acquisition of the assets of Swanson Insurance Agency, Inc. & Swanson & Associates, Inc. (collectively, Swanson Insurance Agency). Terms of the transaction were not disclosed.

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Lloyd’s Insurer AEGIS London Launches Data Science and Analytics Team

Insurance Journal

AEGIS London, the London-based Lloyd’s syndicate, has established a new Data Science and Analytics team to enhance underwriting capabilities and data-driven initiatives.

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AIG Files Amended Suit Against Former Execs, Dellwood Insurance

Insurance Journal

American International Group and a group of its companies have filed a new, amended complaint against Dellwood Insurance Group, started earlier this year by a group of former AIG executives. The lawsuit filed July 10 in U.S.

Insurer 277
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Dollar General to Pay $12M Penalty, Improve Safety

Insurance Journal

Discount store operator Dollar General has agreed to pay $12 million in penalty for alleged safety violations that led to blocked exits and fire extinguishers and unsafe storage, the U.S. Labor Department said in a statement.

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UK, EU States to Target Russia’s Shadow Oil Fleet With More Checks

Insurance Journal

The UK plans to launch a “call to action” this week with a group of European nations to target the so-called shadow fleet of oil tankers that Russia uses to skirt international sanctions, according to people familiar with the matter …

Marine 276
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People Moves: Virginia Regulatory Agency Names Damico Chief Administrative Officer

Insurance Journal

Virginia’s business regulator authority, the Virginia State Corporation Commission (SCC), named Joseph F. Damico chief administrative officer. Damico will oversee administrative divisions responsible for the SCC’s budget, human resources, computer technology, data security, public relations, procurement and facilities management.

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Illinois Contractor Faces $354K in Fines for Exposing Workers to Fall Hazards

Insurance Journal

Federal workplace safety inspectors have cited an Illinois construction contractor for again exposing employees to falls from elevation — the industry’s leading cause of injury and death — as they did residential framing work, this time at four subdivisions under …

Injury 272
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Michigan AG Reminds Residents to Avoid Scams After Flooding

Insurance Journal

Michigan Attorney General Dana Nessel is urging residents to be vigilant against scammers targeting those affected by the heavy rains from the remnants of Hurricane Beryl. The storm flooded communities, damaged homes, and left thousands without power.

Damage 271
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6 Charged With Bogus Overseas Claims for Gun Shot Wounds, Stabbings, Auto Accidents

Insurance Journal

Five Massachusetts residents and one New York resident have been charged in connection with a health insurance fraud scheme that allegedly involved submitting claims for more than $1 million worth of bogus medical expenses, purportedly incurred during international travel.

Claim 264
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SC Supreme Court Urges Legislative Fix to Pre-existing Health Issue in Workers’ Comp

Insurance Journal

South Carolina lawmakers next year may be asked to revamp a workers’ compensation employment test that judges have relied on for more than 50 years, if the state Supreme Court has its way.

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Federal Appeals Court Upholds Dismissal of Manufacturer’s COVID-19 Claims

Insurance Journal

A Connecticut-based manufacturer has been denied another opportunity to seek $100 million in insurance coverage for business losses it claims it sustained because of the COVID-19 virus. Amphenol Corp.

Claim 261
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Ping An Insurance Seeks $3.5 Billion in Convertible Bonds

Insurance Journal

Ping An Insurance (Group) Co. is seeking to raise $3.5 billion through the sale of convertible bonds, joining a wave of issuance in Asia in recent months.

Insurer 275
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Alphabet in Talks to Buy Wiz in $23 Billion Cyber Deal

Insurance Journal

Google parent Alphabet Inc. is in talks to acquire cybersecurity startup Wiz Inc., according to a person familiar with the matter.

Cyber 277
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The World’s Power Grids Are Failing as the Planet Warms

Insurance Journal

Under the blazing Adriatic sun, life almost stopped in Montenegro’s capital Podgorica earlier this summer.

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Georgia Governor Reappoints Bahl to Workers’ Comp Board

Insurance Journal

Georgia Gov. Brian Kemp has reaapointed Neera Bahl to another term on the state Board of Workers’ Compensation.

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After Beryl, Houston Area Farmers Come Together to Face Unique Challenges

Insurance Journal

PORTER, Texas (AP) — Hurricanes cause trouble for everyone, but farmers have a whole other list of problems.

Damage 278
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People Moves: AIG Names Twiningdavis EVP, Chief Administrative Officer; Lopez joins CFC USA as Senior Executive Underwriter

Insurance Journal

AIG Names Twiningdavis Executive Vice President, Chief Administrative Officer American International Group, Inc. (AIG), named Melissa Twiningdavis executive vice president and chief administrative officer, effective September 1. She will join AIG’s executive leadership team and be based in New York.

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Texans Endure Second Week Without Power After Hurricane Beryl

Insurance Journal

CHANNELVIEW — Juan Piñón’s long-sleeve black shirt and forest green pants were soaked. He used a shovel to scrape concrete mix out of a blue wheelbarrow and throw it on the ground.

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People Moves: Fischtrom Joins Altamont Capital Partners as Operating Partner; Williamson Joins Alliant in Denver

Insurance Journal

Fischtrom Joins Altamont Capital Partners as Operating Partner Altamont Capital Partners, based in Palo Alto, California, hired Brad Fischtrom as an operating partner. Fischtrom has more than 20 years of insurance industry experience.