Sat.Oct 19, 2024 - Fri.Oct 25, 2024

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The Data Behind Rising Homeowners Premiums: By Peril and By State

Insurance Journal

The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S.

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The Façade of Consumer Protection: How Florida’s Political Leadership Continues to Favor Insurance Companies Over Policyholders — Are Florida’s Politicians in Bed with the Insurance Industry?

Property Insurance Coverage Law

While Jimmy Patronis and Governor DeSantis trumpet their latest emergency rule as consumer protection following the CBS 60 Minutes Expose noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, the reality reveals a different story. Governor DeSantis’s response to the CBS 60 Minutes exposé on … The post The Façade of Consumer Protection: How Florida’s Political Leadership Continues to Favor Insur

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Tips for Establishing Trust with Elderly Customers in Final Expense Insurance Sales

Final Expense Brokerage

Oct 24, 2024 1:53:43 PM Contact Us Share: Gain valuable insights for building trust with senior clientele. Establishing a strong connection with older clients is essential for excelling in final expense insurance sales. Elderly individuals are often at a stage in life where they are navigating sensitive issues such as planning for the end of their lives and ensuring financial stability for their loved ones to avoid unexpected expenses.

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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

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90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs

Insurance Journal

Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with regulations or to monitor AI results.

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Florida’s Emergency Ethical Rule Conflicts with Xactimate’s License Agreement – Another Example of Insurance Industry Control in Florida

Property Insurance Coverage Law

The recently issued Emergency Rule 69BER24-4 in Florida creates a concerning conflict with Xactimate’s license agreement, highlighting yet another way the insurance industry exercises control over claims adjusting practices. Xactimate’s license agreement explicitly states: “You agree not to prohibit or preclude deviations from the Price Data where contractor requirements, market conditions, demand or any other … The post Florida’s Emergency Ethical Rule Conflicts wi

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Blog Post: Drafting Reimagined with Internal Data and External Knowledge

LexisNexis

By Madison Johnson, Esq. | Marketing Manager One of the foundational disciplines of the practice of law is the drafting of documents, from business contracts and licensing agreements to client legal memoranda and litigation briefs, pleadings and motions. There is pressure to create documents that are effective for the client and to do so in an efficient manner.

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FBI Arrests Man Over SEC Hack, Alleging Bitcoin Manipulation

Insurance Journal

A 25-year-old Alabama man was arrested on Thursday for hacking the U.S. Securities and Exchange Commission’s X account this year as part of an alleged conspiracy to manipulate bitcoin prices, U.S. prosecutors said.

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The Ongoing Issue of Field Adjuster Independence: Why Xactimate and Florida’s Emergency Rule are at Odds with Policyholders’ Interests

Property Insurance Coverage Law

In my recent articles, The Façade of Consumer Protection: How Florida’s Political Leadership Continues to Favor Insurance Companies Over Policyholders — Are Florida’s Politicians in Bed with the Insurance Industry and Florida’s Emergency Ethical Rule Conflicts with Xactimate’s License Agreement – Another Example of Insurance Industry Control in Florida, I’ve discussed the conflict between Xactimate’s … The post The Ongoing Issue of Field Adjuster Independence: Why Xactimate and Florida’s E

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Fire on products tanker in Singaporean Strait

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Fire on products tanker in Singaporean Strait appeared first on Insurance Marine News.

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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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Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh

Insurance Journal

Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …

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Church Mutual’s Claims Practices Under Scrutiny: Lessons from the First Baptist Church of Iowa Case

Property Insurance Coverage Law

A federal appellate decision has provided valuable insights into the claims handling practices of Church Mutual Insurance Company and the duties of insurers in Louisiana. The case of First Baptist Church of Iowa, Louisiana v. Church Mutual Insurance Company, 1 offers important lessons for property adjusters and claims managers across the industry. This case serves … The post Church Mutual’s Claims Practices Under Scrutiny: Lessons from the First Baptist Church of Iowa Case appeared f

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UK says Russian strikes on Black Sea ports are delaying grain supplies to Palestinians, global south

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post UK says Russian strikes on Black Sea ports are delaying grain supplies to Palestinians, global south appeared first on Insurance Marine News.

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Unlocking New Growth for Carriers, MGAs, and InsurTechs with Independent Agency Data

Neilson Marketing Services

The insurance distribution landscape is changing more quickly than ever before. Carriers, MGAs, wholesalers, and InsurTechs are all facing growing complexity. While new tech is reshaping how insurance is bought and sold, one of the biggest challenges remains unchanged—effective distribution. While focusing on the latest shiny objects of innovations is tempting, the real key to growth lies in finding the right distribution partners.

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Mississippi River Dries Up Again at Worst Time for US Farmers

Insurance Journal

The Mississippi River is suffering from low waters for the third straight autumn, a crucial time of year when American farmers rely on the route to deliver their crops to the world.

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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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Mediation offer over Montreal port strike was rejected, says Canadian minister

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Mediation offer over Montreal port strike was rejected, says Canadian minister appeared first on Insurance Marine News.

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TS Lines moves to raise up to $145m in Hong Kong IPO

Splash: Finance and Insurance

Taiwanese carrier TS Lines launched its initial public offering in Hong Kong Thursday, looking to raise up to about $145m. The intra-Asia feeder specialist is floating nearly 251m shares at HK$3.50 to HK$4.50 apiece, according to a Thursday filing, of which 10% are being offered publicly in Hong Kong and 90% to international investors.

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S&P Reveals Top 50 Largest P/C Insurers

Insurance Journal

As the third-fastest growing company on a list of the world’s top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market Intelligence. State Farm recorded nearly $87.

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Cigar Smokers Never Pay Smoker Life Insurance Rates!

RiskQuoter

Cigar smokers – you can get non-smoker life insurance rates! We'll show you which companies offer the best deals based on how often you smoke. Our expertise and competitive rates will save you money. The post Cigar Smokers Never Pay Smoker Life Insurance Rates! appeared first on RiskQuoter.com.

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Singapore agencies working with Shell to clean up 30 to 40 tonnes of leaked slop

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Singapore agencies working with Shell to clean up 30 to 40 tonnes of leaked slop appeared first on Insurance Marine News.

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Diversification is vital in navigating the volatile waters of maritime investment

Splash: Finance and Insurance

Atef Abou Merhi, managing director of Pelagic Partners, has some ship investment advice for Splash readers. When it comes to financial investment, the maritime industry represents an exciting, diverse and fast transitioning market – and one full of opportunity.

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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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Worried About Lead in Your Workplace?

CDC: Workers Compensation

Our goal in public health is to keep people safe from the hazards around them including in the workplace. If you are worried about lead or other possible hazards in your worksite, there is something you can do about it. There’s a program for that The National Institute for Occupational Safety and Health’s Health Hazard Evaluation Program was created to alleviate and address these kinds of concerns.

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Crash on River Thames was result of “challenging” propulsion trials

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Crash on River Thames was result of “challenging” propulsion trials appeared first on Insurance Marine News.

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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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Appeals Court Says Experts Must Show Causal Relationship in BP Oil Workers’ Suits

Insurance Journal

A federal appeals court has underscored the high bar that expert witnesses must meet before a court can connect the dots between exposure and illness, a ruling that could have an impact on insurance claims and toxic tort litigation.

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A New Partnership Focuses on the Occupational Safety and Health Needs of Lone Workers

CDC: Workers Compensation

Working alone is common in many industries and may introduce safety and health risks for workers. In 2023, the Occupational Safety and Health Administration (OSHA) and the National Institute for Occupational Safety and Health (NIOSH) formed a partnership to improve safety and health for lone workers by developing and disseminating information about the risks of working alone and promising prevention strategies.

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Juneau voters reject cruise ship ban

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Juneau voters reject cruise ship ban appeared first on Insurance Marine News.

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Insurance Insider: Expert tips to prevent water damage in your home.

Frankenmuth Insurance

Household leaks, small and large, can lead to structural damage and hefty repair bills. But with some proactive measures, you can significantly reduce the risk of water damage to your home, and prevent future hassles. Our experts are weighing in with insider advice to avert water damage that starts both inside and outside your home. Expert tips to stop water damage originating INSIDE your home.

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Making Friends with the Future: Agency Tech Moving at a Faster Pace than Ever Before

Insurance Journal

By Andrea Wells That used to be one of my biggest beefs as an agency owner — I have all of these pieces of tech and none of them talked to each other,” Vonda Copeland, co-owner and vice president of …

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How To Prevent House Fires

Bankers Insurance

How To Prevent House Fires Since 1922, the National Fire Protection Association has sponsored the public observance of Fire Prevention Week. This year, Bankers Insurance is focusing on the most frequent causes of fire-related losses and sharing tips compiled by Travelers Insurance to help safeguard you and minimize fire losses. Faulty wiring and outlets rank among the leading contributors to house fires.

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Marine insurance premiums up by nearly 6% in 2023: IUMI stats report

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Marine insurance premiums up by nearly 6% in 2023: IUMI stats report appeared first on Insurance Marine News.

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