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As Rhode Island state officials feared would happen, hackers responsible for a ransomware attack on a popular state-administered benefits portal have posted some of the stolen information to the dark web. Governor Dan McKee told the public that exper...
Posted: Dec 31, 2024
Exploring gender bias in the independent agency system [O]ne’s gender seems to have more than a little to do with your current and future position in the agency. By Cheryl Koch, CPCU, ARM, AAI, ACSR, AFIS, and Mary Belka, CPCU, ARM, ARe, RPLU, CIC...
Posted: Dec 31, 2024
Shaking off your “shimmy” [No] agency can operate properly when different teams are working independently, unaware of what others in their organization are doing. By Kari Glennon In our increasingly competitive industry, the quality of the customer e...
Posted: Dec 31, 2024
Understanding both terms and their applications is crucial for effectively managing risk and liability Both agreements play crucial roles in risk management strategies, but they must align with legal standards and the specific needs of all parties in...
Posted: Dec 31, 2024
Focus on circumstances, operations and humanity The best agency owners don’t sit back and complain about what’s out of their control. They look for opportunities, even in the toughest circumstances. By Carolyn Smith, APR, TRA Let’s kick off the new y...
Posted: Dec 31, 2024
It’s here and changing the financing game for independent agencies Offering premium finance at checkout can reduce the typical premium collection time from 20 days to less than five … . By Chase Petrey Obtaining financing for insurance premiums can b...
Posted: Dec 31, 2024
How agents can add value with software tools Supporting clients with OSHA compliance is more than just checking boxes; it’s about setting up a safer work environment and preventing injuries. By Randy Boss, CRM, MWCA, SHRM-SCP In today’s regulatory en...
Posted: Dec 31, 2024
INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Wrestling claim denied Jodi Greenlaw, individually and as personal representative of the estate of her late husband Philip J. Greenlaw, appealed from a judgment...
Posted: Dec 31, 2024
INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Bad day for scooter rider In November 2021, an automobile struck and injured David Goyco while he was operating a Segway Ninebot KickScooter Max in Elizabeth, N...
Posted: Dec 31, 2024
INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Who wins dispute over UIM benefits? Shane and Melissa Pelissier insured their automobile with GEICO General Insurance Company. Four and a half years after a mot...
Posted: Dec 31, 2024
Saudi Re has announced the signing of a reinsurance contract with Walaa Cooperative Insurance Company for the Surety Insurance Bonds Coinsurance Program. This program provides financial guarantees to ensure contractors meet their obligations on co...
Posted: Dec 31, 2024
Advocate for a more balanced approach that values both structure and contents By Steve Gibson In recent months, several significant natural disasters, notably hurricanes and wildfires, have impacted various regions of the United States. For instance,...
Posted: Dec 31, 2024
Who will be the 2024 agency of the year? One of the agencies featured in a Rough Notes cover story during 2024 will be named Agency of the Year. The winner will be selected based on votes from previous Rough Notes cover agents. The nominees for this...
Posted: Dec 31, 2024
Everybody’s talking about AI! But what about EI and CI? By Olga Collins Artificial Intelligence (AI) is a global phenomenon transforming every aspect of our lives and work, regardless of our location or profession. The insurance industry, traditional...
Posted: Dec 31, 2024
Top trends and tools for independent agencies to stay competitive in 2025 By Jace Hopper Independent insurance agencies are under increasing pressure to balance exceptional client service with efficient operations. With more demands for their time, a...
Posted: Dec 31, 2024
What changes or improvements should your agency implement this year? By Christopher W. Cook Being one of the younger folks on staff here at Rough Notes, the duty of maintaining our social media presence was bestowed on me. I tend to plan posts in adv...
Posted: Dec 31, 2024
Fifteen years of public policy education and engagement with agents and brokers, customers, and the public By Maura C. Ciccarelli Standing at the engagement point between the insurance industry and public policy since 2009, the Travelers Institute ha...
Posted: Dec 31, 2024
Progress in the quest to integrate premium finance into a seamless, automated process By Lori Widmer The shift toward digitization of the premium finance market continues. In an effort to eliminate paperwork and paper-based payments, the insurance in...
Posted: Dec 31, 2024
AI solution gathers comprehensive data about prospects, creating lists of suitable potential future clients By Christopher W. Cook In 1998, the rock band Train invited us to “Meet Virginia” in their debut single. What a character she was. Some of her...
Posted: Dec 31, 2024
A “responsibly competitive” market provides adequate protection, for now By Joseph S. Harrington, CPCU It’s pretty easy to name the big challenges facing independent insurance agents and brokers. At the top of the list is the determination of replace...
Posted: Dec 31, 2024
EBRI seminar examines the broadening focus Whether it is via webinars, digital resources or personal coaching, financial wellness is evolving beyond a focus exclusively on retirement plans. By Thomas A. McCoy, CLU Retired business owners or CEOs, if...
Posted: Dec 31, 2024
A new investment fund that plans to oppose corporate DEI hiring goals is taking aim at Nike Inc., Kraft Heinz Co. and Autodesk Inc. Azoria Partners’ fund says it will avoid S&P 500 companies with specific diversity, equity and inclusion ...
Posted: Dec 31, 2024
British insurer Aviva could cut up to 2,300 jobs as it takes over smaller rival Direct Line in a 3.7 billion pound ($4.65 billion) cash-and-stock deal, the companies said on Monday [Dec. 23], creating the UK’s largest home and motor …
Posted: Dec 31, 2024
A Vermont man has been charged with first degree arson and insurance fraud for allegedly setting fire to his own home in Stamford. The Stamford Fire Department responded to a fire on Mill Road on the morning of December 27. …
Posted: Dec 31, 2024
Chinese workers at a construction site in Brazil for a factory owned by China’s electric vehicle producer BYD are victims of human trafficking, Brazilian labor authorities said on Thursday in a growing controversy in BYD’s biggest oversea...
Posted: Dec 31, 2024
Bermuda-domiciled global specialty re/insurer SiriusPoint is set to repurchase all of its common shares and warrants held by CM Bermuda Limited for an aggregate purchase price of $733 million. As per the terms of the repurchase transaction, post-c...
Posted: Dec 31, 2024
A new regulation has been launched aimed to expand insurance access for Californians amid increasing climate risks, this includes increased coverage for wildfire-prone regions by factoring reinsurance costs into the provision of this insurance. Un...
Posted: Dec 31, 2024
Finnish authorities investigating damage to subsea power and data cables found drag marks on the seabed likely left by the anchor of seized tanker Eagle S. Working under water, “we have been able to identify the dragging track at the …
Posted: Dec 31, 2024
Kettle, an AI-enabled re/insurer for commercial property owners in areas affected by catastrophic climate events, has appointed Jeff Chen as Chief Risk Officer to lead risk management and actuarial. With this appointment, Kettle aims to meet its m...
Posted: Dec 31, 2024
Data from Guy Carpenter, the reinsurance broking arm of Marsh McLennan, and ratings agency AM Best, shows that global reinsurer capital has grown by approximately 7% year-on-year, rising from $568 billion in 2023 to a projected $607 billion in 202...
Posted: Dec 31, 2024
Posted: Dec 31, 2024
The year 2024 saw several extreme climate disasters that resulted in billions of dollars in insured losses, underscoring the urgent need to reduce carbon emissions, accelerate the transition to renewable energy, and provide funding for vulnerable...
Posted: Dec 31, 2024
Green Shield Risk Solutions, a provider of risk management and insurance solutions, has announced a strategic partnership with Technosylva, a company specialising in catastrophic event simulation, risk analysis, and operational response that suppo...
Posted: Dec 31, 2024
A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top …
Posted: Dec 31, 2024
ORLANDO, Fla. (AP) — A theme park resort and a huge hotel in central Florida either have stopped using drones or canceled their drone-based shows after several drones collided and fell from the sky during a separate holiday celebration in …
Posted: Dec 31, 2024
ERWIN, Tenn. (AP) — Jerry and Sibrina Barrett never spent a day apart over 35 years. They worked long hours, never took vacations, and liked to relax with their son at home. They had no idea that a hurricane could …
Posted: Dec 31, 2024
MIAMI (AP) — Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have sufficient reserves to cover major …
Posted: Dec 31, 2024
MIAMI (AP) — Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have sufficient reserves to cover major …
Posted: Dec 31, 2024
A federal workplace safety investigation has found a Glenburn, Maine general contractor ignored an onsite expert’s repeated warnings and the company’s own site-specific safety plan prior to an incident in which an employee suffered fatal...
Posted: Dec 31, 2024
The conclusion of a criminal case against Alec Baldwin in the fatal shooting of a cinematographer clears the way for a related civil lawsuit by relatives of the deceased woman and efforts to depose the actor under oath, attorneys for …
Posted: Dec 31, 2024
Arthur J. Gallagher & Co. acquired Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance. Gary Arch and his team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s So...
Posted: Dec 31, 2024
The US Treasury Department was hacked by a Chinese state-sponsored actor through a third-party software service provider, according to a letter the agency sent to Congress on Monday. Treasury described the intrusion as a “major cybersecurity in...
Posted: Dec 31, 2024
Many customers' first encounter with you is through your website. The initial impression sets the tone for your relationship with future clients.
Posted: Dec 30, 2024
A New Approach to Innovation in Insurance Claims Claims sradomski
Posted: Dec 30, 2024
California Insurance Commissioner Ricardo Lara on Monday announced what he is calling the final step in his efforts to help the state’s ailing homeowners insurance market with the Net Cost of Reinsurance in Ratemaking Regulation, which enables...
Posted: Dec 30, 2024