Insurance Journal
FEBRUARY 13, 2025
Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes last month.
Property Insurance Coverage Law
FEBRUARY 20, 2025
A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. The legislation would require a report detailing the compensation of executives, including salaries, stock options, bonuses, stock buybacks, and other taxable payments.
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Prof. Allan Manning
FEBRUARY 10, 2025
I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. That sum insured had not been reviewed for many years and as a result of 100% average, as it was on that policy, the client received only 6.9% of their loss.
Solstice Insurance Broker
FEBRUARY 10, 2025
Valentines Day is just one of many opportunities to show gratitude to those you care about. As an insurance broker, you have a special opportunity to let your clients know how much their loyalty and business mean to you. By showing appreciation, you not only strengthen your current relationships but also attract new ones. Here are some friendly and effective ways to make your clients feel valued.
Advertiser: Trellis
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
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The Property Insurance Law Observer
FEBRUARY 25, 2025
In Jackson v. Spinnaker Insurance Company , the United States District Court for the Western District of Pennsylvania considered a homeowners insurance coverage dispute, ultimately finding that questions of residency and alleged fraudulent misrepresentations precluded summary judgment. However, the court granted summary judgment in favor of the insurer on the bad faith claim, emphasizing that a thorough investigation into a questionable claim does not amount to bad faith Background Spinnaker Ins
Insurance Industry Brief brings together the best content for insurance professionals from the widest variety of industry thought leaders.
Insurance Journal
FEBRUARY 23, 2025
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices.
Property Insurance Coverage Law
FEBRUARY 11, 2025
Will My Insurer Pay Me 100% of My Contents Claim After a Wildfire Loss? Californias Insurance Commissioner Thinks They Should Without an Inventory Experiencing the loss of your home and personal belongings in a wildfire is an unimaginable hardship. The devastation from a California wildfire property damage event can leave individuals struggling to rebuild their … The post What to Expect after a California Wildfire Property Damage Event appeared first on Property Insurance Coverage Law Blog
LexisNexis
FEBRUARY 20, 2025
By Madison Johnson, Esq. | Manager, Large Markets The legal profession is witnessing a transformative shift with the emergence of artificial intelligence (AI) systems. The new class of AI-powered tools, known as Agentic AI, are destined to shape the future as we navigate the ethical implications of their adoption in the legal industry. These AI tools, characterized by their ability to act autonomously on behalf of users while adhering to specific constraints and objectives, are changing how lega
AMAXX
FEBRUARY 18, 2025
When it comes to managing workers’ compensation, understanding classification rules is fundamental. These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk.
Advertiser: Trellis
Insurance professionals use Trellis to streamline claims management by analyzing legal trends, predicting outcomes, and strategizing effectively to serve clients better. Adjusters can evaluate claim validity, estimate settlement amounts, and identify potential litigation risks. Trellis' extensive State Trial Court Data can be leveraged to identify opposing/outside counsel and top mediators for insurance matters, evaluate the risk of new claims by viewing similar claim litigation history, and mor
PSM Brokerage
FEBRUARY 12, 2025
Anthem has announced that its Medicare Advantage Dual-Eligible Special Needs Plans (D-SNPs) in Kentucky will be discontinued as of February 28, 2025. This change will impact thousands of beneficiaries who rely on these plans for their healthcare coverage. As an insurance agent, its essential to be proactive, informed, and ready to assist affected clients in finding alternative coverage options.
Redbird Agents
FEBRUARY 3, 2025
Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Final expense insurance is one of the most lucrative life insurance markets for independent agents, offering high commission payouts, fast approvals, and steady client demand. If youre considering selling final expense insurance , understanding how commissions work is essential to setting realistic income expectations and growing a successful business.
Insurance Journal
FEBRUARY 3, 2025
The City of London, once considered the crown jewel of Britain’s dominant services sector, has performed even worse than the rest of the economy in the years following the Brexit referendum. Financial and insurance output has grown just 2.
Property Insurance Coverage Law
FEBRUARY 27, 2025
State Farm met with California Insurance Commissioner Lara yesterday about an emergency meeting regarding its rates following the Los Angeles wildfires. Meanwhile, State Farm has been busy suppressing the methods it uses to adjust water loss claims in Tong v. State Farm General Insurance Company. This case continues to shed light on State Farms handling … The post State Farms Water Protocol appeared first on Property Insurance Coverage Law Blog.
Triple-I: Homeowners Insurance
FEBRUARY 13, 2025
Insurance affordability in Georgia is dwindling as claim frequency and insurer costs soar, according to the latest issue brief from Insurance Information Institute (Triple-I), Trends and Insights: Georgia Insurance Affordability. Given the state’s below-average income vs. above-average insurance expenditures, Georgia ranks 42nd on the list of affordable states for homeowners insurance and 47th (plummeting from the 2006 high of 27th) for personal auto affordability, according to reports by
AMAXX
FEBRUARY 4, 2025
A structured Return-to-Work (RTW) program is one of the most effective ways to reduce workers’ compensation costs and improve employee recovery outcomes. Transitional duty assignments , a core component of RTW programs, allow injured employees to remain engaged in meaningful work while they recover. These assignments help businesses manage claims costs, reduce lost workdays, and maintain workforce productivity.
PSM Brokerage
FEBRUARY 14, 2025
Introduction: Hiring the right licensed-only agents (LOAs) is a critical step in scaling your agency or call center. Whether you're looking to expand your Medicare, ACA, Life Insurance, or Ancillary product offerings, finding top-tier agents can help you increase sales and streamline operations. However, the hiring process can be time-consuming and complex.
Redbird Agents
FEBRUARY 4, 2025
Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. For insurance agents, managing chargebacks and financial obligations responsibly is a crucial part of building a successful career. One of the most significant consequences of unpaid debt in the insurance industry is being reported to Vector Onea reporting agency that tracks outstanding producer debt.
Insurance Journal
FEBRUARY 3, 2025
Brand new Florida home insurer Mangrove Property Insurance Co. has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc., a financial analysis firm that specializes in rating regional and specialty insurers.
Property Insurance Coverage Law
FEBRUARY 20, 2025
A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. The legislation would require a report detailing the compensation of executives, including salaries, stock options, bonuses, stock buybacks, and other taxable payments.
LexisNexis
FEBRUARY 20, 2025
By: Practical Guidance Corporate investment in generative artificial intelligence (Gen AI) technologies continues to accelerate. Average Gen AI budgets grew by 30% in 2024 and they are expected to grow at roughly 60% over the next three years, soaring to 7.6% of total IT budgets by 2027, according to a report from Boston Consulting Group. These investments are leading directly to rapid adoption of Gen AI tools in the workplace.
Insurance Journal
FEBRUARY 4, 2025
The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a cornerstone for many of these operations.
Insurance Journal
FEBRUARY 9, 2025
Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half.
Insurance Journal
FEBRUARY 3, 2025
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfiresand anticipates that industrywide impacts should halt the drop in property-catastrophe reinsurance prices observed at 1/1.
Insurance Journal
FEBRUARY 11, 2025
Mereo Advisors, a Bermuda-based firm chaired by former American International Group Inc. Chief Executive Officer Brian Duperreault, has secured more than $700 million to fund its new reinsurance operations.
Insurance Journal
FEBRUARY 27, 2025
Tennessee-based Selectsys, an insurtech specializing in business process outsourcing for insurers, has acquired Expert Insured, an artificial intelligence-led insurance management system for wholesalers, carriers and managing general agents. Terms were not disclosed.
Insurance Journal
FEBRUARY 28, 2025
Reinsurers continued to provide ample casualty reinsurance capacity through the recent January 2025 renewal season despite concerns about adverse reserve development — however, an availability crisis could be looming, AM Best cautions.
Insurance Journal
FEBRUARY 7, 2025
Russia appears to be on the cusp of a debilitating oil-freight transportation problem because of US sanctions, writes Bloomberg oil strategist Julian Lee. On Jan. 10, the US Treasury sanctioned 161 oil tankers for their role in moving Russian oil.
Insurance Journal
FEBRUARY 28, 2025
Pen Underwriting, the London-based managing general agent, has expanded and enhanced its specialist insurance proposition for recruitment agencies, to support clients’ international growth strategies and help them respond to increasing legal liabilities arising from contractual complexities.
Insurance Journal
FEBRUARY 19, 2025
While writing primary casualty insurance is more appealing than writing casualty reinsurance, the chief executive of Arch Capital said casualty reinsurance business remains attractive for his company. Speaking during an earnings conference call on Feb. 10, after reporting $3.
Insurance Journal
FEBRUARY 7, 2025
This edition of International People Moves details appointments at Willis and Arch Insurance UK. A summary of these new hires follows here.
Insurance Journal
FEBRUARY 4, 2025
Generali to remain in charge of decisions over how to allocate its own clients’ savings under the asset management deal with France’s BPCE, the insurer said, addressing concerns raised by Italy’s government and two leading investors.
Property Insurance Coverage Law
FEBRUARY 14, 2025
The latest revelations about Allstates use of artificial intelligence (AI) in drafting insurance claims emails should serve as a wake-up call for policyholders, insurance regulators, and insurance industry claims handlers. According to a report from Futurism, Allstate Is Demanding We Delete These Quotes by Its Exec About How It’s Using AI to Write Insurance Emails,1 … The post When Artificial Intelligence Becomes Wrongful Intelligence in Claims Handling appeared first on Property Ins
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