Sat.Aug 03, 2024 - Fri.Aug 09, 2024

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With American Mobile Out, Florida’s Mobile Home Insurance Market Seems to Have ‘Fallen Apart’

Insurance Journal

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

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Appraisal Orders Setting Criteria to be an Appraiser, Procedure for Determining Umpire, Discovery During Appraisal, and Details of the Appraisal Award

Property Insurance Coverage Law

A Florida federal magistrate made three very similar rulings in one day regarding pending appraisals, which should be read by all involved with appraisal. 1 The Orders set out criteria for appraisers, the appointment of an umpire that requires the appraisers to be present and in front of the court if an agreement cannot be … The post Appraisal Orders Setting Criteria to be an Appraiser, Procedure for Determining Umpire, Discovery During Appraisal, and Details of the Appraisal Award appeare

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Where to Find the Best Car Insurance in Utah

Central Insurance

Looking for the best car insurance in Utah? Discover the top policies you need to protect yourself or your business on the road. The post Where to Find the Best Car Insurance in Utah appeared first on Central Insurance Blog.

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How To Develop An Effective Client Onboarding Process

Final Expense Brokerage

Aug 4, 2024 1:23:42 PM Contact Us Share: Discover how to maximize client onboarding for lasting relationships. In the insurance industry, first impressions are crucial. A well-structured client onboarding process not only sets the stage for a strong client-agent relationship but also instills confidence in your clients' decision to choose you. Let’s dive into the steps of an effective onboarding process that ensures your clients feel welcomed, informed, and assured right from the start.

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Containment Increased on Massive Wildfire, 640 Structures Destroyed

Insurance Journal

Firefighters have increased containment on the 627-square-mile Park Fire near Chico, California, which is now 34% contained. The fire, now the fourth largest wildfire in history, is 401,740 acres. It was 24% contained on Friday.

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Civil Remedy Notices – What Are They and What Do They Require?

Property Insurance Coverage Law

Insurance policies protect you from the cost of replacing lost, damaged, or stolen items: or at least, that’s how they’re supposed to work. But what happens if your insurance company refuses to pay what you are owed? If you live in Florida, one of your options is to file a Civil Remedy Notice (or CRN) … The post Civil Remedy Notices – What Are They and What Do They Require?

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Examples of Hazards on Construction Sites and How to Build a Safety Culture

Central Insurance

Construction sites are full of potential hazards that can impact worker safety. From wearing PPE to conducting regular inspections, discover how to protect your team through a culture of safety. The post Examples of Hazards on Construction Sites and How to Build a Safety Culture appeared first on Central Insurance Blog.

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Taylor Swift Cancellations Deal Blow to Insurers: Sources

Insurance Journal

Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be canceled, though several providers will share out the hit, two people involved in insurance for her tour told Reuters.

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There’s a Wildfire Burning – What Do I Need to Know About Insurance?

Property Insurance Coverage Law

Wildfire season is here, and if you’ve experienced a loss, navigating your insurance claim can be daunting. Here’s what Californians need to know on day one to get your claim off on the right footing. Check Your Coverage Limits and Address Underinsurance Issues. Ideally, you already know your coverage details, but if not, review your … The post There’s a Wildfire Burning – What Do I Need to Know About Insurance?

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What Insurance Do I Need for My Steel Products Manufacturing Facility?

Central Insurance

Explore essential insurance solutions tailored for steel product manufacturers that safeguard against unique industry risks and challenges. The post What Insurance Do I Need for My Steel Products Manufacturing Facility? appeared first on Central Insurance Blog.

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Understanding Disability Insurance In NJ

Boyle Agency Insurance

Disability insurance may not be a topic that comes to mind often, but it plays a vital role in safeguarding your financial security. Unexpected health challenges or accidents can happen to anyone, causing a significant impact on your ability to work and earn an income. Bogle Agency Insurance based in Bergen County, NJ has the expertise necessary to help you find the correct Disability Insurance!

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More People Moving In Than Out of Counties With High Catastrophe Risk

Insurance Journal

Despite the dangers and expense associated with living in high-risk areas, large numbers of people are still moving to parts of America most impacted by wildfires, flooding and extreme heat.

Risk 306
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Amendment to Louisiana Unfair Claims Settlement Practice Adds Weapon to the Policyholder’s Arsenal

Property Insurance Coverage Law

The “Hurricane Season from Hell” 1 is upon us. Hurricane Beryl, a Category 5 storm at peak strength and a rarity for July, impacted the Texas coast only weeks ago. As we inch closer to the statistical height of the Hurricane Season, Louisiana policyholders need to be aware that very significant revisions affecting first-party claims … The post Amendment to Louisiana Unfair Claims Settlement Practice Adds Weapon to the Policyholder’s Arsenal appeared first on Property Insurance Coverage Law

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Blog Post: New Revenue Streams: Time to Start Law Firm Business Innovation

LexisNexis

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Leaders of America’s largest law firms have decided to move full speed ahead with the adoption of generative artificial intelligence (Gen AI) technology because they see these tools as keys to unlocking greater value for clients and greater revenues for their firms. More than half of the Am Law 200 (53%) have purchased at least one Gen AI solution and 45% of them are already using it for legal matters, according to the 2024 Lexis

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Is your business prepared for a disaster? Step #6: Know your finances.

Frankenmuth Insurance

When it comes to disaster planning, knowing your finances is just as important as safeguarding your physical space and your employees. In an emergency, you’ll need funds to help your business recover and keep up with regular expenses. You’ll also want to make sure you have adequate insurance to cover the cost of any damage or losses. How can you get to know your finances better?

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Google Monopolized Search Through Illegal Deals, Judge Rules

Insurance Journal

Google illegally monopolized the search market through exclusive deals, a judge ruled Monday, handing the government a win in its first major antitrust case against a tech giant in more than two decades.

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Why Are Policyholders So Frequently Underinsured in the Event of a Total Loss? What Can Fix the Underinsurance Problem?

Property Insurance Coverage Law

Kenneth S. Klein is a Professor of Law at California Western School of Law in San Diego. In recent years, Professor Klein’s research has focused on how issues of available, adequate, and affordable homeowner insurance are exposed and exacerbated by natural disasters and what can be done to address these problems. Professor Klein’s research has … The post Why Are Policyholders So Frequently Underinsured in the Event of a Total Loss?

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Top 6 East Coast Areas at Most Risk for Storm Surges

McMahon Insurance Agency

Storm surges pose a significant threat to coastal communities, often resulting in catastrophic flooding, extensive property damage, and loss of […]

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Farmworker Appreciation Day 2024 – Celebrate the workers who bring us our daily bread (and everything else on our plate)

CDC: Workers Compensation

Few jobs are as essential as the ones that help to produce the food we eat, the clothes we wear, and many other products which get us through the day. From our morning coffee to a midnight snack, we benefit from the labor of farmworkers. The U.S employed approximately 2.6 million farmworkers in 2022 and contributed over $203 billion to the U.S. economy in 2023.

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CarShield to Pay $10M Settlement Over Deceptive Advertising Charges

Insurance Journal

CarShield will pay $10 million to settle charges that its advertisements and telemarketing for its extended auto warranty plans are deceptive and misleading, the Federal Trade Commission said.

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Florida’s Property Insurance Market Is Worse Than Reported—Shrinkflation Explains Why

Property Insurance Coverage Law

Florida’s property insurance market is facing unprecedented challenges, leaving policyholders with inadequate coverage at significantly higher rates. The term “shrinkflation,” commonly associated with consumer goods, is now being used to describe a troubling trend in the insurance industry. Citizens Property Insurance, a major player in Florida’s insurance market, is at the forefront of this phenomenon, … The post Florida’s Property Insurance Market Is Worse Than Reported—Shrin

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GasLog Partners readies LNG carrier sale and leaseback deal

Splash: Finance and Insurance

GasLog Partners is set to strike a sale and leaseback deal for one of its tri-fuel diesel-electric (TFDE) LNG carriers. The Peter Livanos-controlled company said in its second-quarter earnings release, it had been pursuing an agreement for an unnamed vessel, without disclosing further details.

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Understanding Classification Rules in Workers’ Compensation

AMAXX

When it comes to managing workers’ compensation, understanding classification rules is fundamental. These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk.

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Georgia Woman Charged with Insurance Fraud After Claimed Injuries

Insurance Journal

A woman in north Georgia has been charged with insurance fraud after she claimed that a “personal care device” caused injuries that cost as much as $350,000 to treat.

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Did Florida’s CFO Call Public Adjusters Despicable?

Property Insurance Coverage Law

There must have been a lot of “at a boy” congratulatory text messages from insurance industry lobbyists to Florida CFO Jimmy Patronis after they read the Insurance Journal article, Florida CFO Issues Order on ‘Despicable’ Public Adjusters as Debby Floods Carolinas. But did Jimmy Patronis really refer to public adjusters as despicable in a public statement?

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Pelagic Partners: How to invest in today’s volatile shipping markets

Splash: Finance and Insurance

Fund managers generally see shipping as a niche market and a small investment opportunity, which for Niels Hartmann, the chief executive officer and board member of the Hartmann Group and founding member of owner and shipping fund manager Pelagic Partners, is a distant and commercially blind position to take.

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Intelligent Underwriting Strategic Business Value for Group, Voluntary Benefits and Worksite Insurers

Majesco

Intelligent underwriting has the potential to transform and optimize the group, benefits, and worksite insurance industry by using Artificial Intelligence (AI) and Application Programming Interfaces (APIs) to streamline underwriting, expand and manage data access, speed quote turnaround times, improve risk assessments, and optimize business workflows.

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California Commissioner Orders Insurance Cancelation Moratorium for 185K Residents

Insurance Journal

California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires.

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California Enters Wildfire Season Early and in the Midst of an Availability and Affordability Crisis

Property Insurance Coverage Law

We started the 2024 wildfire season early this year on account of warmer than average temperatures in May and June on the heels of a wet winter and spring. We are well on our way to one million acres or more by the end of August. There are some critical factors this year to ponder … The post California Enters Wildfire Season Early and in the Midst of an Availability and Affordability Crisis appeared first on Property Insurance Coverage Law Blog.

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The Importance of Accurate Valuation in Commercial Property Insurance

Bankers Insurance

THE IMPORTANCE OF ACCURATE VALUATION IN COMMERCIAL PROPERTY INSURANCE When purchasing or renewing commercial property insurance , it’s important for businesses to ensure their coverage includes correct property valuations. Doing so can make all the difference in providing sufficient protection and preventing coinsurance penalties amid covered property losses.

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National Book Lovers Day: Recommendations from the Team

Agency Revolution

Tsundoku is a Japanese word for the books you buy that either take up space around your home or are on your bookshelf to be read later. It could also refer to part of my decorating scheme. Summer tends to be the season in which I make the most progress on whittling down my tsundoku. It’s so easy to lose track of time with a good book and an equally good pool float; I can usually knock out 5 or 6 books during the course of the summer!

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Severe Storms (Mostly in US) Account for 70% of Global Insured Natural Disaster Losses

Insurance Journal

Global insured losses from natural catastrophes totaled US$60 billion during the first half of 2024, or 62% above the 10-year average, according to preliminary estimates from Swiss Re.

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Blog Post: Many Asylum Seekers Are Being Expelled, But Not Before Giving Up Their DNA

LexisNexis

The Border Chronicle, Aug. 6, 2024 "CBP’s sweeping DNA program places asylum seekers’ genetic profiles in a massive criminal investigations database without their knowledge.

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DOL Fiduciary Rule Delayed by Texas Court Ruling

PSM Brokerage

On July 25, 2024, the U.S. District Court for the Eastern District of Texas halted the effective date of the Department of Labor’s (DOL) 2024 Fiduciary Rule and its amendment to Prohibited Transaction Exemption (PTE) 84-24. The following day, the U.S. District Court for the Northern District of Texas issued its own stay on the 2024 Fiduciary Rule and all related exemptions.

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7 Questions to Ask Your Commercial Insurance Brokers Before Signing

Insurance Agent Near Me

Get prepared for your commercial insurance decisions by asking these 7 crucial questions to your brokers! The post 7 Questions to Ask Your Commercial Insurance Brokers Before Signing appeared first on Insurance Agent Near Me.

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Florida Insurer Can’t Object to Appraiser After the Award is Decided, 11th Circuit Says

Insurance Journal

If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award.

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Blog Post: Go For Gold To Win In The Legal Department

LexisNexis

Developing a winning strategy in the legal department is possible when legal operations teams consider engaging with one of the most advanced and integrated enterprise legal management solutions available for the corporate law department. Below, you'll see six winning strategies, just in time for the Olympics. 6 Ways to Win in the Legal Department Watching the Olympics 2024 in Paris brings out the competitive spirit.

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