Sat.Jul 20, 2024 - Fri.Jul 26, 2024

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With American Mobile Cancellations, Florida Mobile Home Market Has ‘Fallen Apart’

Insurance Journal

Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability.

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What is LRO Insurance?

Central Insurance

LRO insurance provides comprehensive protection against commercial property damage, liability claims, and income loss. In this article, we explore the key differences between LRO and general liability insurance and why commercial landlords need to have this coverage. The post What is LRO Insurance? appeared first on Central Insurance Blog.

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Louisiana Court Finds That an Insured Breached its Duty to Cooperate

The Property Insurance Law Observer

The recent decision of Marcantel v. State Farm Fire , No. 2:22-CV-01511, 2024 U.S. Dist. LEXIS 111077 (W.D. La. June 24, 2024) offers valuable lessons for policyholders regarding the importance of cooperation in the insurance claims process. In Marcantel , the plaintiff suffered damage from Hurricane Laura at two properties in Louisiana. Both properties were insured by State Farm under policies that required the plaintiff to comply with certain “Duties After Loss,” which included exhibiting the

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Tips for New Agents to Generate & Embrace Feedback

Word & Brown

When you’re just starting out in your insurance sales career, you may not realize how important soliciting and embracing customer and prospect feedback can be in helping you improve your skills, boost your future sales, and build a more successful business. Asking for and receiving feedback can provide you with insights you might otherwise be unable to secure.

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Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix

Insurance Journal

The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates.

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Nevada Auto Insurance: What to Consider When Covering Your Vehicles

Central Insurance

Nevada drivers face unique risks, from extreme weather to diverse driving conditions. Learn about essential Nevada auto insurance coverages to protect yourself on the road. The post Nevada Auto Insurance: What to Consider When Covering Your Vehicles appeared first on Central Insurance Blog.

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Maximise Your Business Growth: 4 Essential Tips to Secure Your Commercial Tailors Insurance

Protect Commercial Insurance

Welcome to our blog post on how to maximise your business growth by securing the right commercial tailors insurance. As a tailor, it is crucial to protect your business from potential risks and liabilities. In this article, we will provide you with four essential tips to help you understand your coverage needs, find the best rates, review and update your policy regularly, and work with an experienced insurance broker.

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UK Water Companies Lambasted by Environment Agency for Sewage Releases

Insurance Journal

Britain’s Environment Agency on Tuesday lambasted the country’s water companies for spewing sewage into rivers and seas, saying the majority of them were failing to get the basics right, as it outlined plans for a tougher regulatory approach.

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HVAC Insurance: Five Policies for Your Business

Central Insurance

HVAC contractors face a unique set of liabilities. In this article, we explore a few of the common HVAC risks and the types of insurance coverage you need to protect your business, employees, and livelihood. The post HVAC Insurance: Five Policies for Your Business appeared first on Central Insurance Blog.

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What is the best type of insurance for a small business? Ask your agent these key questions.

Frankenmuth Insurance

Did you know 75% of businesses in the United States are underinsured by 40% or more? To ensure yours isn’t one of them, having the right coverage in place is key. Wondering what is the best type of insurance for a small business like yours? Your local, independent agent is here to help you decide. They’ll get to know you, your operations, and any areas of risk or need.

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What’s so Dark about the Dark web?

Cowbell

In a recent Cowbell Academy webinar, Cowbell partnered with DarkOwl , a leading darknet data provider, to give agents an inside look into the darknet. The Cowbell and DarkOwl teams not only gave a rare glimpse of the darknet, but they also showed agents how Cowbell helps to protect policyholders by determining the level of risk associated with an organization’s exposure on the dark web.

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Hackers Leak Documents From Pentagon IT Services Provider Leidos

Insurance Journal

Hackers have leaked internal documents stolen from Leidos Holdings Inc., one of the largest IT services providers to the US government, according to a person familiar with the matter.

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Protect Your Clients Against Data Breaches

ProWriters

According to chief information security officers (CISOs), in 2023, three out of four U.S. companies faced the risk of a significant cyber attack. Analysts project cyber crime to cost the U.S. more than $452 billion in 2024, potentially reaching $1.8 trillion by 2028. For most companies, a cyber breach isn’t a question of if but when. So, how should your business clients handle a breach?

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Life Insurance and Mental Health: Your Complete Guide to Coverage

RiskQuoter

Navigating life insurance with a mental health condition can be confusing. This guide explains the factors that affect your eligibility and how to find affordable coverage in 2024. The post Life Insurance and Mental Health: Your Complete Guide to Coverage appeared first on RiskQuoter.com.

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Why Your MarTech Should Be Like Your Pizza Order

Agency Revolution

Recently, the morning after a delightful pizza dinner at one of my favorite local breweries, I had a thought that stopped me in my tracks: choosing MarTech for your agency can follow the same thought process as ordering your pizza. Sounds crazy and over-simplified, right? I disagree! The dinner that got me thinking about this was a pretty common one: shared salad and pizza, at a place that only serves 1 size, cut tavern-style because this is Columbus, OH.

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Insurers Face Business Interruption Claims After Global Tech Outage

Insurance Journal

Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said.

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Do landscaping companies need workers’ compensation insurance?

InsuranceBee

When you’re running a landscaping or lawn care business, one of the most crucial questions you can ask yourself is: do I need workers’ compensation insurance? Frankly, with workers’ comp, there’s little to no gray area. By most states’ statutory … Read more. The post Do landscaping companies need workers’ compensation insurance? appeared first on InsuranceBee Blog.

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How to Leverage Telematics to Improve Commercial Driver Safety

Mark Jackson Insurance Agency

Driver delivering packages by Kampus Production In the commercial auto industry, safety is paramount. Not only does it concern the well-being of drivers and the public, but it also significantly impacts operational costs and company reputation. With advancements in technology, telematics has emerged as a powerful tool for enhancing commercial driver safety.

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Do You Know How Your Insurance Affects Your Mortgage Payment?

Wren Insurance Agency

When you purchase your first home, if you are using a mortgage lender to finance your investment, you'll learn that your property taxes and home insurance fees are going to be included in your monthly mortgage amount. Property taxes are paid in arrears and homeowners insurance is paid in advance. So… when you first purchase your home, you will have already secured an insurance policy and that amount will be factored into your monthly payments to the mortgage company moving forward.

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California Commissioner Announces FAIR Plan Modernization Deal

Insurance Journal

California Insurance Commissioner Ricardo Lara said on Friday that he and the California Fair Plan have agreed to establishing a new high value commercial coverage option with limits up to $20 million per building and other steps that he said …

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Why Your MarTech Should Be Like Your Pizza Order

Agency Revolution

Recently, the morning after a delightful pizza dinner at one of my favorite local breweries, I had a thought that stopped me in my tracks: choosing MarTech for your agency can follow the same thought process as ordering your pizza. Sounds crazy and over-simplified, right? I disagree! The dinner that got me thinking about this was a pretty common one: shared salad and pizza, at a place that only serves 1 size, cut tavern-style because this is Columbus, OH.

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Innovative Marketing Strategies to Promote Your Insurance Agency Locally

American Agents Alliance

Sales and marketing efforts are a part of every agent’s business. Using marketing strategies that align your agency to the local market can help an agent grow locally. Try some of these ideas to help develop your local agency business. Marketing Strategies Designed for Local Markets Customers who reside in or do business in your local area often form a major part of your customer base.

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Does Homeowners Insurance Cover Collectibles? 

Distinguished

To their owners, collectibles are not just objects — they’re tangible pieces of history and culture and a direct reflection of their passions.  However, the very qualities that make collectibles so precious also expose them to unique risks. Theft, damage during transport, or accidental breakage can devastate a collection that has taken years to assemble.

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‘Surface Waters’ on Roof Are Not ‘Flood’ Waters, Massachusetts High Court Rules

Insurance Journal

The highest court in Massachusetts has ruled that rainwater accumulation on roofs of buildings does not constitute “surface waters” within the meaning of “flood” in property insurance policies.

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2023 Whole Life Company Asset Yield Trend

The Insurance Pro

A number of years ago, we stopped regularly updating various analyses we performed on the insurance industry. This, of course, brought on questions. What motivated our decision to end this practice? Was there some objective we sought to accomplish by ignoring it? Perhaps the data was no longer supporting our narrative about a strong industry. Keep Reading The post 2023 Whole Life Company Asset Yield Trend appeared first on The Insurance Pro Blog.

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Greek shipowner duo forges ahead in domestic banking sector

Splash: Finance and Insurance

Greek shipowners and entrepreneurs Dimitris Bakos and John Kaimenakis have stepped up their game in the banking sector with a merger deal with Greece’s fifth-largest lender. Thrivest Holding, owned by the duo together with Alexandros Exarchou, has finalised a deal to combine Pancreta Bank and its larger peer, Attica Bank.

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Bankers Insurance Helps American Red Cross with Disaster Recovery and Home Fire Prevention Services

Bankers Insurance

Westfield’s Legacy of Caring Program Partners with Westfield Insurance Agencies to Support Dozens of Nonprofits Across the Country Westfield partnered with Bankers Insurance to donate $9,500 to the American Red Cross as part of Westfield’s Legacy of Caring program. Each year, Westfield’s top independent insurance agents are invited to nominate a local nonprofit in their community to receive a donation.

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How California’s Homeowners Insurance Crisis is Affecting Brokers

Insurance Journal

A growing homeowners insurance crisis for Californians is straining brokers who must work harder to get increasingly expensive and more frequently unavailable coverage for their clients, a crisis many of them blame on regulations and wildfires.

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NCIGF Moves Aheadto Support Insurers

Triple-I: Workers Compensation

By Max Dorfman, Research Writer, Triple-I For the last 35 years, the National Conference of Insurance Guaranty Funds (NCIGF) – an organization dedicated to serving 55 property/casualty state guaranty funds – has provided operational support; communications, education, and outreach; as well as public policy management for these organizations. State guaranty funds make up a privately funded, nonprofit state-based national system that pays covered claims up to a state’s legally allowable limits, pr

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Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024

Property Insurance Centre

Our Claims Partner, Aspray, Wins Loss Assessor of the Year 2024 We are delighted but not surprised to announce that our claims partner, Aspray, has won the prestigious “Loss Assessor of the Year 2024” award at the British Claims Awards. Aspray, a leading property damage claims management company, can act on your behalf when you need to make a claim.

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Sanctioned Russian insurer clouds dark fleet picture further

Splash: Finance and Insurance

The complex insurance picture surrounding the so-called dark fleet of tankers trading around the world has become even more unsure.

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FTC Looking Into Targeted Pricing Based on Personal Data

Insurance Journal

The U.S. Federal Trade Commission has launched a study of products that could allow companies to set different prices for consumers based on their locations, past purchases, and other personal data.

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How Much Is The Average Cost Of Renters Insurance?

Simply Insurance

The average cost of renters insurance is $15.58 per month or $187 per year. The costs are based on the policy coverage limits, deductibles, the company you choose, and location.

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The New Intelligence: Embedded Insurance Data and Analytics

Majesco

Knowledge is no longer just power — it’s business gold. Advanced analytics in insurance, when coupled with the right data, can identify new customers, drive operational improvements, or create better claims outcomes. We’ve moved from reporting and business intelligence dashboards to analytic solutions that can adapt and organize data based on what it is seeing and experiencing.

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