Sat.Nov 23, 2024 - Fri.Nov 29, 2024

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Despite Storms, Moody’s Upgrades Florida Tax Bonds for Cat Fund, Citizens, FIGA

Insurance Journal

Despite four hurricanes in just over a year and significant payouts by the Florida Cat Fund, three special tax bonds have seen their ratings upgraded, the state’s insurance commissioner announced Monday.

Insured 317
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Florida Insurance Regulators Perfect Their Aim—At the Wrong Target! Shooting the Messenger Instead of Fixing the Problem

Property Insurance Coverage Law

Welcome to another chapter in the ever-entertaining saga of Florida insurance regulation—where the unexpected is expected, and reality sometimes reads like satire. The latest? Florida’s insurance regulators are serving subpoenas on a critic who dared to spotlight glaring issues in the insurance industry. Yes, you read that right. Instead of addressing the industry’s woes, they’ve … The post Florida Insurance Regulators Perfect Their Aim—At the Wrong Target!

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Chinese ship dragged anchor for 100 miles, cutting two cables, says WSJ

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Chinese ship dragged anchor for 100 miles, cutting two cables, says WSJ appeared first on Insurance Marine News.

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The NIOSH Respirator Fit Evaluation Challenge

CDC: Workers Compensation

Millions of workers across the United States rely on tight-fitting respirators to keep them safe on the job. These workers have a wide variability in facial features and dimensions, making it challenging to identify specific respirator models and sizes that will provide a proper fit. If a respirator does not properly fit, forming a tight seal against the wearer’s face, then it may not provide the expected level of protection.

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Wisconsin Man Charged With Crop Insurance Fraud

Insurance Journal

A Wisconsin man has been charged with defrauding the Federal Crop Insurance Program, the U.S. Attorney’s Office for the Western District of Wisconsin announced. Lance G. Meier, 52, Ogema, is charged with defrauding the federal crop insurance program.

Insured 289
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A Surprising Twist and Swirl in High-End Fire and Smoke Case: Alabama Court Allows Tort of Outrage Claim Against Chubb While Dismissing Bad Faith

Property Insurance Coverage Law

Pacific Indemnity Company, a Chubb subsidiary known for insuring high-end properties and affluent clients, recently secured a partial litigation victory in a property insurance dispute involving a newly constructed luxury home in Alabama. 1 The non-final decision regarding high-end smoke and fire damage to a residential structure is worthy reading for all adjusters.

Claim 151

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Shipping needs to change the narrative to attract investors

Splash: Finance and Insurance

Shipping might be a multi-trillion dollar industry and the backbone of world trade, but it is infinitesimally small in the minds of investors. New research from US-based Cavalier Shipping shows that less than 79 US cents out of every $1,000 invested in the US stock market goes to shipping and offshore companies.

Insurance 100
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Tennessee Sees Big Jump in Insurance Producer Licenses in Recent Years

Insurance Journal

Tennessee has seen a 25% jump in the number of insurance producer licenses in the past five years, an increase that regulators have attributed to a population boom in the state and easy access to producer exams.

License 289
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State Farm Wins Alabama Worn Out Roof Damage Case: Lesson About Hail Damage Cases, Expert Testimony, and Investigation Standards

Property Insurance Coverage Law

State Farm has been the subject of many questions and comments during my presentations over the past several years. So, I became intrigued by the company’s tooth-and-nail fight against a customer over an alleged hail-damaged roof that was replaced for only $18,740. This recent federal court decision from Alabama highlights the growing importance of causation expert … The post State Farm Wins Alabama Worn Out Roof Damage Case: Lesson About Hail Damage Cases, Expert Testimony, and Inve

Damage 100
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IACS withdraws UR H1 ‘Control of Ammonia Releases in Ammonia Fuelled Vessels’

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post IACS withdraws UR H1 ‘Control of Ammonia Releases in Ammonia Fuelled Vessels’ appeared first on Insurance Marine News.

Marine 102
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How Tribal Communities Can Use the Health Hazard Evaluation (HHE) Program

CDC: Workers Compensation

The final blog post in our series celebrating Native American Heritage Month highlights a free program available to anyone, including American Indian and Alaska Native (AI/AN) communities, employers, and workers. Some may not be aware of this service, though it has been part of the National Institute for Occupational Safety and Helath (NIOSH) around for over 50 years.

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Patronis to Leave Florida CFO Job to Run for Gaetz’ Seat in Congress

Insurance Journal

Florida’s chief financial officer, Jimmy Patronis, whose office oversees insurance agent and adjuster licensing, along with insurance fraud investigations, plans to step down and run for Congress next year.

License 289
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Giving Thanks for What Truly Matters

Property Insurance Coverage Law

Thanksgiving has left me reflecting on what it means to be truly wealthy. It’s not the material things we gather but the moments spent with those we love, the freedom to pursue our passions, and the awe-inspiring beauty of the world around us. These are the treasures that fill our hearts and enrich our lives. … The post Giving Thanks for What Truly Matters appeared first on Property Insurance Coverage Law Blog.

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American Club renewal: overall target of 7% increase

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post American Club renewal: overall target of 7% increase appeared first on Insurance Marine News.

Marine 105
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Maritime Partners celebrates closing new financing solution for shipping

Splash: Finance and Insurance

Louisiana-based Maritime Partners is celebrating the closing of a $750m, first-of-its-kind warehouse facility, which will be collateralised by three wholly owned business lines within one of its managed funds with a syndicate of lenders led by ATLAS SP Partners.

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Walmart, World’s Biggest Retailer, Will Curb Diversity Efforts

Insurance Journal

Walmart Inc. is reversing course on diversity, equity and inclusion initiatives, joining a growing list of businesses retreating on DEI programs targeted by conservative activists.

Liability 289
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Appraisal Award Vacated Due to Appraiser’s “Flat Fee” Schedule that Functions as a Prohibited Contingency Fee

Property Insurance Coverage Law

A recent federal court decision from the Eastern District of Louisiana provides an important warning about appraiser fee arrangements that could invalidate an entire appraisal award.1 In Kennedy v. GeoVera Specialty Insurance Company, the court granted the insurer’s motion to strike a $146,436.65 appraisal award after finding the policyholder’s appraiser’s fee arrangement violated policy requirements … The post Appraisal Award Vacated Due to Appraiser’s “Flat

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A third of ballast water treatment systems fail Port State Control; report

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post A third of ballast water treatment systems fail Port State Control; report appeared first on Insurance Marine News.

Marine 95
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Part 3 of 3: Common Mistakes in Return-to-Work Programs and How to Avoid Them

AMAXX

In the final part of our return-to-work ( RTW ) series, we explore common mistakes made in RTW programs and how they can be addressed to improve outcomes. Often, simple adjustments can lead to significant positive changes, making the return-to-work process smoother, more efficient, and less costly for both employers and employees. Let’s take a look at some of the pitfalls and how to effectively avoid them.

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After Tens of Billions in Insured Losses, Record-Breaking Hurricane Season Ends

Insurance Journal

The 2024 Atlantic hurricane season ends Nov. 30 after 18 named storms including the earliest Category 5 storm on record, and possibly one of the costliest hurricanes to the insurance industry.

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When Is a Policy “Blanket”? A Recent Court Decision Shows It’s Not Always Clear Cut

Property Insurance Coverage Law

Insurance policies that provide broad coverage across multiple items or locations can be a policyholder’s best friend. A recent federal court decision in Louisiana 1 highlights the complexities in determining whether a policy provides blanket or scheduled coverage – a distinction that can significantly impact claim payments. The Louisiana case involved a hydrocarbon production facility damaged … The post When Is a Policy “Blanket”?

Policy 100
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Britannia goes for 7.5% rate increase

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Britannia goes for 7.5% rate increase appeared first on Insurance Marine News.

Marine 105
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Prevent disaster: 16 safety tips for auto service repair shops.

Frankenmuth Insurance

Whether you’re installing a new part, completing a paint job, or rebuilding a vehicle, no two auto service repair shop jobs are the same. Each one brings different risks and challenges, which is why protecting your employees, and your business, should be your top priority. Not sure where to start? We’re sharing our expert tips for auto service repair shops: Wear shoes with non-slip soles.

Injury 66
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Cyberattacks Cost UK Businesses £44 Billion During Past 5 Years, Howden Survey

Insurance Journal

Cyberattacks cost UK businesses approximately £44 billion (US$55.3 billion) in lost revenue over the past five years, according to research published by Howden, the London-based insurance intermediary group. Half of those businesses (52%), or 1.

Insured 278
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Inflation Guard Endorsements: A Possible Double-Edged Sword for Property Insurance Coverage

Property Insurance Coverage Law

A recent court decision highlights why policyholders need to understand both the benefits and limitations of Inflation Guard Endorsements in their property insurance policies. While these endorsements aim to protect against underinsurance, they may not provide the complete protection many assume they do. Inflation guard endorsements automatically increase coverage limits using a formula determined by … The post Inflation Guard Endorsements: A Possible Double-Edged Sword for Property Insura

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Bulk carrier crew stage sit-in after being detained for a year

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Bulk carrier crew stage sit-in after being detained for a year appeared first on Insurance Marine News.

Marine 94
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Sulmara secures BGF investment boost

Splash: Finance and Insurance

Glasgow-based subsea specialist Sulmara has secured a capital injection from BGF, one of the largest and most experienced growth capital investors in the UK and Ireland BGF is investing around $19m in Sulmara, which since its establishment in 2019 has grown rapidly to more than $70m annual revenue, delivering a compound annual growth rate of …

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New York High Court Upholds Uber Arbitration Mandate in Previously-Filed Injury Case

Insurance Journal

In a 5-2 decision, New York State’s high court this week upheld Uber’s “clickwrap” agreement requiring arbitration of all disputes in a case of a passenger who was injured by another vehicle after exiting an Uber car.

Injury 279
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Protecting Your Holiday Cheer: Tips to Prevent Package Theft This Season

TGS

TGS Insurance » Blog Protecting Your Holiday Cheer: Tips to Prevent Package Theft This Season Ah, the holidays—a time for joy, celebration, and (let’s be honest) an avalanche of online shopping. There’s nothing quite like the excitement of finding a box on your doorstep, knowing it holds that perfect gift you painstakingly picked out. But what happens when that box goes missing?

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Fatal mooring line accident revealed gaps in safety protocols: MAIB

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Fatal mooring line accident revealed gaps in safety protocols: MAIB appeared first on Insurance Marine News.

Marine 100
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Direct Line playing hardball with Aviva bid

Elmore

The UK insurer is probably betting that, given the juicy savings on offer, it can squeeze Aviva for more The post Direct Line playing hardball with Aviva bid appeared first on Elmore Insurance Brokers.

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World Insurance Acquires New England’s NorthStar Insurance

Insurance Journal

National insurance broker World Insurance Associates LLC reports it acquired NorthStar Insurance Services of Needham, Massachusetts on July 1, 2024. Terms of the transaction were not disclosed.

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Quotes only work if YOU do!

Your Journey With Jennie

Snarky? Maybe. True? 100%! Hi, I’m Jennie Wolek, and I know that building success in this business isn’t easy—but it’s worth every bit of effort. I’m working on and in my business EVERY SINGLE DAY, focusing on improvement for myself, my team, and the systems that keep us moving forward. Here’s the truth: The hustle doesn’t stop —not at the start, and not even when you’ve "made it.

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Swedish Club renewal: further details

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Swedish Club renewal: further details appeared first on Insurance Marine News.

Marine 100