Tag: Insurance

January 22, 2024

State and national news reports have raised questions about the impact that high property insurance premiums in Florida have had on the real estate market and if the costs are prompting some residents to consider moving elsewhere. The Miami Herald […]

December 12, 2023

California is facing a record $68 billion budget deficit, state officials announced, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build his national profile. The nation`s most populous state, with an economy […]

November 30, 2023

The Missouri Department of Commerce and Insurance said that employers should see a reduction in workers’ compensation rates in 2024, the third straight year of declining rates. The NCCI recently proposed an overall decrease of 7.5 percent for 2024 workers’ […]

November 21, 2023

The landscape of the insurance industry has undergone a transformative evolution with the advent of Insurtech, a dynamic blend of insurance and technology. This amalgamation has not only disrupted traditional business models but has also paved the way for innovative […]

September 28, 2023

The Bank of England on Thursday set out a reform of capital rules for insurers to “unlock tens of billions of pounds” for investments in the economy. The Solvency II rules were inherited from the European Union and their reform […]

August 18, 2023

Bank acquisitions of insurance brokerages have been on a steady decline for the better part of 15 years. In 2007, these transactions represented approximately 21.7% of total announced insurance brokerage merger and acquisition (M&A) transactions. By 2012, that percentage dropped […]

June 21, 2023

Aon, Lloyd’s and Vienna Insurance Group (VIG) announced they are collaborating to provide foreign re/insurance capacity to support Ukraine’s recovery and reconstruction. As part of the UK-Ukraine Private Finance Partnership, Lloyd’s and Aon have committed to deliver fast-track access to […]

June 8, 2023

Washington Insurance Commissioner Mike Kreidler issued fines in April and May totaling $398,500 against insurance companies for violations of state insurance laws and regulations. Following is a list of reported violations the commissioner’s office issued: Insurance companies LifeWise Health Plan […]

June 2, 2023

Kansas Insurance Commissioner Vicki Schmidt announced there will not be a Workers Compensation Fund assessment this year. Carriers, pools, and self-insured businesses will not be required to pay into the assessment fund for fiscal year (FY) 2024. This will reduce […]

March 31, 2023

Travelling can be a thrilling and enlightening experience, but it also comes with a certain amount of risk. From flight cancellations and lost luggage to medical emergencies and unforeseen accidents, anything can happen when you’re away from home. That’s why […]

March 6, 2023

A Texas lawmaker is seeking to broaden the fight against ESG (environmental social governance) policies by imposing further limits on the types of investments state pension managers can make and restricting shareholder proposals that would dictate insurance companies’ business with […]

February 8, 2023

Wells Fargo will pay $300 million to settle a class-action lawsuit from shareholders who argued the bank knew it was charging customers for unnecessary auto-collision protection insurance but not telling investors, the law firm Robbins Geller Rudman & Dowd said […]

December 5, 2022

Texas Regional Bank (TRB) announced the addition of insurance to its suite of financial services. TRB Insurance will offer a wide range of products and services, including home, auto, and life insurance, as well as commercial insurance. “At TRB, we […]

December 1, 2022

Brian First has been promoted to president of Arch Insurance North America. First was promoted from chief underwriting officer of programs, property and specialty. First, who joined Arch in 2014 and has 30 years of industry experience, will now have […]

October 4, 2022

Banks must take risk management seriously – and part of managing risk is properly insuring property and casualty risk. Below are the three critical, yet commonly overlooked, areas that institutions should be aware of in addressing their property and casualty […]

September 15, 2022

If the past two years have taught us anything, it’s that anything can happen. There are dozens of unforeseen possibilities that could leave your business financially liable or could otherwise discourage guests from returning. And in the restaurant industry, that […]

August 29, 2022

Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to GDP by 2050, according to a report released Monday. This year heavy rains have triggered floods that inundated cities in […]

August 24, 2022

Ukraine’s first shipments of grain since being invaded by Russia are a harbinger of relief for squeezed global markets, but many challenges remain before the millions of tons of food stuck in the country can be released. Perhaps the biggest […]

August 12, 2022

The New York State Insurance Fund reported that it returned more than $550 million over the past year to businesses through its workers’ compensation safety discounts and dividends programs. The state agency provides dividends for companies that belong to a […]

August 11, 2022

The Texas Department of Insurance (TDI) is urging consumers to be wary of phone calls or other communications from anyone claiming to be a representative of TDI. TDI will call you only when you ask for assistance. TDI’s Fraud Unit […]