Sat.Aug 31, 2024 - Fri.Sep 06, 2024

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Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses

Insurance Journal

New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition.

Insurance 328
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Man Sets Ex-Wife and House on Fire—Insurer Denies Innocent Co-Insured Recovery

Property Insurance Coverage Law

In doubles tennis, business, and life, choosing the best partner is a key lesson because it usually predicts future success. Brenda Welch made a tragic choice. Brenda Welch and David Morgan married in 2006. Welch owned a home in Lynnwood, Washington, where the couple lived throughout their marriage. The home was subject to a mortgage … The post Man Sets Ex-Wife and House on Fire—Insurer Denies Innocent Co-Insured Recovery appeared first on Property Insurance Coverage Law Blog.

Insurance 203
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Top Ladder Safety Practices for Home and Work

Central Insurance

Optimize safety when using a ladder at your home or business with these ladder safety tips from the loss control experts at Central. The post Top Ladder Safety Practices for Home and Work appeared first on Central Insurance Blog.

Insurance 130
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Comprehensive Review of Top CRMs for the Insurance Industry

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Choosing the right Customer Relationship Management (CRM) system is crucial for enhancing customer interactions and streamlining operations within the insurance industry. Many insurance agents understand the importance of integrating a robust CRM solution into their daily workflows, yet few commit to fully leveraging its capabilities to strengthen the backbone of their business.

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Streamline Insurance Claims Management By Analyzing Legal Trends

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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Landlords Face a $1.5 Trillion Commercial Real Estate Maturity Wall

Insurance Journal

Landlords for offices, apartment complexes and other commercial real estate have $1.5 trillion of debt due by the end of next year, and about a quarter of that borrowing could be hard to refinance, according to Jones Lang LaSalle Inc.

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New study suggests banks provide cheaper loans to greener shipping companies, but not greener ships

Splash: Finance and Insurance

A new study by UCL Energy Institute on the relationship between financing terms and climate performance of shipping companies reveals what its authors terms as a “troubling trend” of green financing.

Insurer 126
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Insurance Conferences: A Guide for Agents and Industry Professionals

Redbird Agents

Redbird Training - We offer live Redbird training classes for Producers every Tuesday and Thursday. Attending insurance conferences is a strategic move for any professional in the insurance industry, whether you are an established agent or new to the field. These industry events are more than just opportunities to learn—they are essential for staying ahead in a competitive market, fostering partnerships, and gaining insights into the future of insurance.

Agents 130
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New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown

Insurance Journal

In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co.

Risk 312
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Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement

Property Insurance Coverage Law

I can only imagine that the owner of Opera Block Properties was a student of weather when ordering drain backup coverage—the day before drains backed up. This post highlights an agent’s binding authority under Michigan law and discusses important insurance principles concerning the “completed-loss” and “loss-in-progress” doctrines.

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How big a problem is the mounting global debt?

Splash: Finance and Insurance

Pierre Aury assesses the state of the world economy with some startling stats. We saw last month that it was unlikely that the historically high level of unrealised losses sitting in the balance sheets of banks could trigger a 2008 style crisis.

Insurer 118
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Houthis claim attack on container ship

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Houthis claim attack on container ship appeared first on Insurance Marine News.

Claim 111
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Western States Top Wildfire Risk Scores in New Analysis

Insurance Journal

California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels.

Risk 312
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What Does Replacement Cost Insurance Pay If There Has Not Been Repair or Replacement?

Property Insurance Coverage Law

Insurance companies that wrongly deny or underpay property insurance claims are finding a golden financial opportunity that provides an incentive for them to wrongfully underpay and deny claims—they escape the payment of the replacement cost valuation they promised to their policyholders. While this result can be stopped by common law allowing for bad faith actions … The post What Does Replacement Cost Insurance Pay If There Has Not Been Repair or Replacement?

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Poseidon Principles expands to assess ESG standards in shipping

Splash: Finance and Insurance

The Poseidon Principles is set to expand beyond its original climate origins to encompass many other environmental, social, and governance (ESG) aspects. The Poseidon Principles Association, known for integrating climate considerations into financial lending and pioneering the assessment and disclosure of climate alignment in ship finance portfolios, has decided to create the Future Principles Committee.

Insurer 116
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Iconic tall ship demasted after being struck by containership in Fremantle

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Iconic tall ship demasted after being struck by containership in Fremantle appeared first on Insurance Marine News.

Marine 111
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Maryland Awards Contract to Rebuild Key Bridge After Deadly Collapse

Insurance Journal

Maryland transportation leaders on Thursday approved a contract for rebuilding the Francis Scott Key Bridge several months after the 1.6-mile (2.

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Don’t Depreciate Labor! A Case Appropriate for Labor Day

Property Insurance Coverage Law

Labor Day is the traditional end of summer. I often try to write a special blog for our various holidays. A favorite is Labor Day on the Jersey Shore and the Ocean Sand Exclusion. Given the history of the American labor movement and the importance of organized labor to strike, last year’s post, Is Milk … The post Don’t Depreciate Labor! A Case Appropriate for Labor Day appeared first on Property Insurance Coverage Law Blog.

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Navigating Difficult Return to Work Scenarios: Strategies and Best Practices

AMAXX

Return to Work (RTW) programs are essential components of an effective workers’ compensation system. They help injured employees transition back into the workforce, ensuring their well-being while minimizing the financial impact on employers. However, not all RTW scenarios are straightforward. Some situations present unique challenges that require careful handling to achieve the best outcomes for both the employee and the employer.

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Hopes that salvage of Sounion will begin soon

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Hopes that salvage of Sounion will begin soon appeared first on Insurance Marine News.

Marine 109
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New York Regulator Orders Taxi Insurer to Weigh Sale After Losses

Insurance Journal

New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial improprieties and accounting problems, warning that the consequences …

Insurance 306
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Insurance Appraisals and Umpire Appointments Texas Style

Property Insurance Coverage Law

The appointment of umpires by judges is something that I have been following. When I teach appraisal classes or debate appraisal issues with Steve Badger, I often state that the selection of an umpire is most crucial to parties wishing to have a fair outcome. As stated in Judge Cites Merlin Law Group in Appointment … The post Insurance Appraisals and Umpire Appointments Texas Style appeared first on Property Insurance Coverage Law Blog.

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WEBINAR SERIES | Wellness in the Workplace – How to Create an Effective and Compliant Wellness Program

Relation

You will want to take advantage of Relation’s upcoming compliance webinar – Wellness in the workplace. Join our VP of Compliance, Matthew LoPorto, and our Wellness Program Manager, Jeanne McDaniel, as they team up to discuss how to create a thriving Wellness Program that not only encourages engagement with health and wellness benefits but also cultivates a […] The post WEBINAR SERIES | Wellness in the Workplace – How to Create an Effective and Compliant Wellness Program a

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Collision near Danube-Sulina Canal Involving cargo vessel and tanker

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Collision near Danube-Sulina Canal Involving cargo vessel and tanker appeared first on Insurance Marine News.

Marine 101
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How One Florida Engineer Charged Others With Fraudulent Insurance Reports, Testimony

Insurance Journal

He’s been called “eccentric,” a “do-gooder,” a “troublemaker” and a whistleblower. And he may be the best friend the Florida property insurance industry has.

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Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage

Property Insurance Coverage Law

Trade credit insurance is a risk management tool that protects businesses against losses from unpaid invoices or accounts receivable. It covers a company’s trade receivables in case a customer fails to pay due to insolvency, bankruptcy, default, or other reasons specified in the policy. The primary use of trade credit insurance is to safeguard a … The post Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage appear

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What is the best Health Insurance Plan in Illinois?

Smart Insurance Agents

Best Health Insurance Plans in Illinois: There are many different insurance carriers in Illinois that offer On and Off exchange health insurance plans. On Exchange plans are offered via Healthcare.gov , while Off-Exchange plans can be purchased directly from the insurance company. Check Illinois Health Plans page to learn more or work with a health insurance agent to get help enrolling.

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Indian Coast Guard helicopter lost at sea during tanker evacuation

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Indian Coast Guard helicopter lost at sea during tanker evacuation appeared first on Insurance Marine News.

Marine 98
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Youth Football Safety Debate Reopened After Deaths of 2 Players on Same Day

Insurance Journal

HEWETT, W.Va. (AP) — Ryan Craddock had seen his share of tragedy during two decades as a coal miner and firefighter. Then came the toughest heartbreak of all: his own.

Injury 306
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Don’t Let Your Clients Ignore These Cyber Threat Headlines

ProWriters

Cyber threats continue to challenge individuals, countries, and companies in today’s digitally interconnected world. Whether they are familiar but no less dangerous risks like ransomware attacks or denial-of-service (DoS) attacks, or whether they take such still-emerging forms as cryptojacking or AI-powered phishing campaigns , cyber security threats require constant vigilance and proactive protective measures, especially given current events.

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Tips for Managing Personal Protective Equipment in Your Stockpile: Respirator Selection and Purchase

CDC: Workers Compensation

Happy Respiratory Protection Week 2024! Another year provides another opportunity to highlight resources to support informed workplace respiratory protection practices. NIOSH has been at the forefront of this effort for decades, testing and approving respirators used in U.S. occupational settings while also striving to provide the science necessary to inform complex respiratory protection decisions.

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Salvors say it is unsafe to tow the Sounion

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Salvors say it is unsafe to tow the Sounion appeared first on Insurance Marine News.

Marine 98
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Los Angeles to Pay $38M For Failing to Make Affordable Housing Accessible

Insurance Journal

The city of Los Angeles will pay $38.2 million to settle a 2017 lawsuit after “falsely” stating on federal documents that its multifamily affordable housing units built with federal funds were accessible for people with disabilities.

Claim 305
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When is the Right Time to Get Flood Insurance?

Wren Insurance Agency

As a Floridian, you may know that - regardless of the flood zone your home is in - it's always a good idea to have flood insurance in place, especially once you realize that your regular homeowners insurance doesn't cover most rising water events. Overflow of inland or tidal waters, heavy runoff from significant rainfall, collapse or destabilization of land along a body of water due to erosion, or unexpected wave activity can all cause flooding events in your home that aren't covered by your typ