Sat.Jul 27, 2024 - Fri.Aug 02, 2024

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Extreme Weather Sends Insured Losses 70% Above Historical Norms

Insurance Journal

Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70% above the 10-year average — as extreme wildfires, droughts and floods upend historical norms.

Insurance 328
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Patience is a Virtue: Keeping your Cool when the Going Gets Tough

Solstice Insurance Broker

Frustrations and pent-up emotions can have a major impact on your mood, making it difficult to stay positive and productive. As much as you love being a dental insurance broker , there is a great deal of pressure to perform. Running a business, managing clients, meeting goals, making the level of commissions that you desire, all take their toll on you.

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LMI Claims Conference

Prof. Allan Manning

Realising the importance of ongoing learning, LMI held their annual conference for the claims team in Sydney last week. A wide range of topics were covered from an update on recent court cases involving general insurance claim decisions, a detailed analysis of the Reasonable Care Condition found in many policies by LMI Legal, lessons learned from business interruption losses by LMI Forensics, issues around storm damage to solar panels by LMI Claims, a detailed run through of the new Mark IV Cons

Claim 214
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Furniture Store Insurance: The Five Policies You Need to Protect Your Business

Central Insurance

Furniture store insurance is a handful of policies designed to protect your business. Learn the right policies to protect your physical assets and ensure your operations can quickly recover after disruptions. The post Furniture Store Insurance: The Five Policies You Need to Protect Your Business appeared first on Central Insurance Blog.

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Leverage Trellis Court Data To Identify More Investment Opportunities

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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AM Best: Migration to Cat-Prone States Fuels Record HO Underwriting Losses in 2023

Insurance Journal

The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in the previous year and the line’s worst underwriting results since at least 2000, according to a new AM Best report.

More Trending

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TurboRater Integrations Info Sheet

Zywave

Integrate TurboRater with your agency management system to instantly bridge quote data directly into your workflow to save time, reduce manual entry errors, and increase the efficiency of your workflows.

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Flooring Installer Insurance: What Policies Do I Need?

Central Insurance

Explore comprehensive insights on flooring installer insurance, including coverage options, benefits, and expert tips. Learn how to protect your business and ensure peace of mind in the flooring industry. The post Flooring Installer Insurance: What Policies Do I Need? appeared first on Central Insurance Blog.

Policy 130
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Miami’s ‘Impossible’ Traffic Mess Shows Strains of Booming South

Insurance Journal

Former reality TV star Fredrik Eklund zips up and down Miami in a lilac Rolls-Royce with a turquoise interior, hunting for multi-million-dollar homes for the rich and powerful. That is, when he’s not stuck in the gridlock.

Building 299
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Fifth Circuit Holds That Sales Tax is Not a Component of Actual Cash Value

The Property Insurance Law Observer

Ending a putative class action, the United States Court of Appeals for the Fifth Circuit examined policy language and two statutes to hold that an insurer does not owe sales tax on top of an actual cash value payment. The citation is Taylor v. Root Ins. Co. , 2024 U.S. App. LEXIS 18240 (5th Cir. July 24, 2024). The policyholder’s contract provided: Limit of liability A.

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Take the Hassle Out of Claims Management

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

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European Commission launches ship finance portal

Splash: Finance and Insurance

The European Commission has launched a ship financing portal in a bid it says to boost the maritime sector’s green transition.

Insurer 97
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2025 Registration and Training for Marketplace Agents and Brokers

PSM Brokerage

Registration and Training for Marketplace Agents and Brokers Plan year 2025 Marketplace registration and training is now available for new and returning agents and brokers on the Marketplace Learning Management System (MLMS). Plan year 2025 Marketplace training is available in English and Spanish. New Agents and Brokers Agents and brokers who are new to the Marketplace this year, or who did not complete plan year 2024 registration and training, are required to take the full Individual Marketplac

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Damaging West Texas Earthquakes Likely Caused by Oil and Gas Activity: USGS

Insurance Journal

Damaging earthquakes that rocked West Texas in recent days were likely caused by oil and gas activity in an area that has weathered tremors for decades, according to the U.S. Geological Survey.

Damage 299
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Safe 3D Printing is for Everyone, Everywhere

CDC: Workers Compensation

Three-dimensional (3D) printing has become more popular in recent years. These printers can create objects by building them layer by layer from a digital design. 3D printing is an important part of modern inno­vation because it speeds up the design and testing of new ideas. It can also help produce complex and precise parts. The National Institute for Occupational Safety and Health (NIOSH) is working to minimize the potential health and safety risks from using 3D printers.

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OSV player Bhagwan Marine debuts on ASX

Splash: Finance and Insurance

Australian OSV operator and services provider Bhagwan Marine has marked its debut as a public company. The Perth-headquartered outfit led by Loui Kannikoski has started trading on the Australian Securities Exchange (ASX) following an initial public offering of shares. Bhagwan raised $80m at $0.

Marine 94
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Stay safe at home: Expert gas leak safety tips.

Frankenmuth Insurance

Did you know around 125,000 households experience gas leaks each year? Despite its daily importance for heating and cooking, gas can also pose serious safety hazards. That’s why it’s important to stay informed and proactive. Follow our expert-backed gas leak safety tips to protect your home and family. Recognizing the signs of a gas leak: Identify unusual odors.

Agents 78
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Delta Air Lines to Seek Compensation Over Cyber Outage: Report

Insurance Journal

Delta Air Lines has hired a law firm and will seek compensation from Microsoft and CrowdStrike over a global cyber outage earlier this month that disrupted flights around the world, CNBC reported on Monday.

Cyber 299
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When Nanoparticles Blow Up— Explosion Hazards of Nanoparticles

CDC: Workers Compensation

This blog is part of a series to commemorate the 20th anniversary of the Nanotechnology Research Center. Click here for additional blogs in the series and on other nanotechnology topics. Engineered nanoparticles are synthesized materials with at least one dimension smaller than 100 nanometers. Reactive nanoparticles pose a special hazard. The heat released by the rapid oxidation of aerosolized combustible nanoparticles increases the temperature and pressure of the suspending gas.

Damage 85
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Diana Shipping fixes $167m refinancing  

Splash: Finance and Insurance

Greece’s Diana Shipping has secured a new $167.3m loan from Nordea to refinance its existing commitments with the Nordic bank. The New York-listed shipowner said the proceeds of the new loan, secured by 10 vessels, have been utilised to refinance two loans maturing in October 2027 and June 2028 secured by 12 bulkers.

Insurer 80
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Cyber Quoting Carrier List

Zywave

Simplify your quoting and proposal process with Cyber insurers all in one tool.

Cyber 71
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Castle Key Nonrenewing 33,000 Policies as Florida Mulls Special Session on Condos

Insurance Journal

Allstate’s Florida subsidiaries are nonrenewing some 33,000 condominium unit policies over the next several months, delivering another blow for beleaguered condo owners across the state.

Policy 299
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Leveraging Social Media For Insurance Agency Networking In 7 Simple Steps | EverQuote

EverQuote

You can’t run a successful agency without getting to know people. If you sell insurance, networking is the key to getting high quality referrals and finding high-intent prospects. And what better place to find new contacts than online?

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Workers’ Comp Cost Formula To Accurately Assess Your Risk

AMAXX

Click Link to Access Free PDF Download “How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact” Importance of Proper Classification It’s gonna be talking about today primarily where a lot of our training focuses, a lot of my training focuses is over in this area, which is your experience mods, your adjustments.

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MGA Hub Carrier List

Zywave

Simplify your quoting and proposal process with Excess & Surplus insurers all in one tool. Take a look at our latest carrier library as of August 2024.

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Defense Institute Aims to Educate, End ‘Skyrocketing’ Nuclear Verdicts

Insurance Journal

Robert Tyson believes the defense bar’s lawsuit approach is overdue for an overhaul. The U.S.

Insurer 298
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Macro problems on the horizon

Splash: Finance and Insurance

Pierre Aury warns there is a financial crisis looming that would make 2008 look like ‘a seaside picnic on a beautiful spring day’ In our last column we said that shipping is not an adiabatic system: it is a derivative of the world economy/geopolitical situation which is affected by decisions of lunatic politicians that no …

Insurer 64
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Enhancing Workplace Safety: A Systematic Review of Hearing Protection Fit-Testing Systems and Training

CDC: Workers Compensation

Exposure to excessive noise at work poses significant health risks for workers. These include hearing loss, tinnitus, and various other health conditions. To mitigate these risks, hearing protection devices (HPDs) such as earplugs and earmuffs are commonly used. However, the effectiveness of HPDs relies heavily on proper usage and fit. Ill-fitting earplugs are a common challenge faced by workers, compromising their ability to adequately protect their hearing.

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The Role of an Injury Coordinator in Workers’ Compensation Management

AMAXX

In the realm of workers’ compensation, the role of an injury coordinator is pivotal. This position is crucial for managing the complex processes associated with workplace injuries, ensuring both compliance with regulations and the well-being of employees. Based on the comprehensive guide from the Workers’ Compensation Manual, this blog will explore the responsibilities, best practices, and significance of an injury coordinator in an organization.

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‘Impossible’ Weather Increasingly Blamed on Climate Change

Insurance Journal

Today may be the day when the impossible becomes possible—based on the number of headlines in recent days saying pretty much that.

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Hayfin seals management buyout deal with Arctos

Splash: Finance and Insurance

UK alternative investment platform Hayfin Capital Management has reached an agreement with US private equity group Arctos Partners to secure a management buyout of the business. The deal will see the acquisition of British Columbia Investment Management Corporation’s majority stake for an undisclosed sum. One of the largest institutional investors in Canada, with C$250.

Insurer 54
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Shield Insurance Agency is Now Hiring!

Shield Insurance Agency

Shield Insurance Agency is Now Hiring a full-time Insurance Customer Service Rep and Account Manager for our main office in Hudsonville, Michigan. Job description: Insurance Customer Service Rep and Account Manager Job Type: Full-time Salary: Up to $50K per year to start Schedule: 8-hour shift Day shift Monday to Friday Supplemental pay types: Christmas bonus Carrier bonus Education: High school or equivalent (Preferred) P&C License is a big plus Experience: Customer service: 1 year (Require

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Insurer can’t subrogate

Rough Notes

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Insurer can’t subrogate In 2014, C.H. Yarber Construction entered into an agreement with Profile Properties to lease property in Cheyenne, Wyoming. The leased property contained an office facility, two warehouses, and approximately three-and-a-half acres of fenced yard space encompassing the buildings.

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Judge Finalizes Order to Stop Florida’s ‘Stop Woke Act’

Insurance Journal

TALLAHASSEE, Fla. (AP) — A judge issued a final order Friday to overturn a Florida law pushed by Republican Gov. Ron DeSantis that attempted to limit diversity and race-based discussions in private workplaces. U.S.