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2025 Underwriting Trends for Worship Facilities

Insurance Journal

As insurers look to 2025, several trends are emerging that affect premium and deductible costs — leading to lengthy conversations between insurance agents and brokers and their customers. For worship facilities, some of the most prevalent trend...

Posted: Nov 17, 2024

Missteps and Mistakes: 5 of the Scariest Moments of My Insurance Career

Insurance Journal

I remember 1994 when I was running for the United States Senate. My campaign consultants thought I should publish my tax returns and challenge my opponent to do the same. He had a very checkered business career. I was unenthusiastic …

Posted: Nov 17, 2024

GAO Urges OSHA to Address Ergonomic Hazards in E-Commerce Warehouses, Deliveries

Insurance Journal

The federal Occupational Safety and Health Administration (OSHA) must do more to address ergonomic hazards at warehouses and delivery companies, where the number of injured workers in the growing sector are on the rise, a new report advises. The Gove...

Posted: Nov 17, 2024

4 Charged in $10 Million No-Fault Insurance Fraud Scheme

Insurance Journal

Four men have been charged with defrauding New York auto insurers by allegedly submitting more than $10 million in fraudulent claims for psychological services –and then laundering the proceeds of that fraud through a network of illicit check c...

Posted: Nov 17, 2024

Insurer Not Liable if Bank Improperly Cashes Insurance Check, Appeals Court Says

Insurance Journal

Insurance carriers are not responsible if a bank improperly cashes a check made out to two insureds and gives the proceeds to only one of them, a federal appeals court decided. The U.S. 11th Circuit Court of Appeals on Wednesday …

Posted: Nov 17, 2024

Rating Firm Says Florida Insurers Will Weather the Storms. Cat Fund Can Handle Payouts to Insurers

Insurance Journal

Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a surcharge on premiums. And a...

Posted: Nov 17, 2024

Would Letting Roofers Do More Wind-Mitigation Work Help Reduce Florida’s Insured Losses in Storms?

Insurance Journal

By William Rabb A recent photograph of destruction left by Hurricane Milton’s wind tells the story: An entire roof section on a residential complex in Bradenton, Florida – including rafters and ceiling joists – was ripped off, expos...

Posted: Nov 17, 2024

What’s the Difference Between Cyber Insurance and Cyber Warranties?

IA Magazine

Here are the differences between cyber warranties and cyber insurance, some issues with cyber warranties, and why cyber insurance is the only comprehensive risk transfer solution.

Posted: Nov 17, 2024

Amwins and Floodbase Unveil Flood Insurance for Golf Courses

IA Magazine

Tees-to-Green flood insurance automatically triggers payments as soon as flooding inundates a golf course.

Posted: Nov 17, 2024

The Impact of the Soft D&O Market and What Agents Should Look For

IA Magazine

While the fast-rolling D&O soft-market train continued through 2024, agents and clients should be aware that insurers are starting to approach underwriting with a more cautious lens.

Posted: Nov 17, 2024

Generative AI: Unlocking Potential With Expert Guidance

IA Magazine

Explore the transformative power of generative artificial intelligence (AI) and how insurance agents help businesses smoothly navigate its integration.

Posted: Nov 17, 2024

Guidewire Unveils Las Leñas Cloud Release at Connections Event

IIR

The new release is designed to help streamline claims management and increase agility across the insurance lifecycle.

Posted: Nov 17, 2024

Bamboo Insurance Selects Cloverleaf Analytics for Data Insights

IIR

Cloverleaf’s GenBI-powered Insurance Intelligence platform will enable Bamboo to have a holistic view of insurance data in Guidewire Cloud.

Posted: Nov 17, 2024

Setting Goals for AI Success in Insurance

IIR

By aligning AI initiatives with customer-centric and organizational objectives and following a structured framework for goal setting and measurement, insurers can harness AI’s full potential to improve risk management, enhance customer experience, an...

Posted: Nov 17, 2024

Malcolm X’s Daughters Sue CIA, FBI and NYPD Over Civil Rights Leader’s Assassination

Insurance Journal

Three daughters of Malcolm X have accused the CIA, FBI, the New York Police Department and others in a $100 million lawsuit Friday of playing roles in the 1965 assassination of the civil rights leader. In the lawsuit filed in …

Posted: Nov 17, 2024

Lloyd’s of London Shakes Up IT, Operations Teams

Carrier Management

Lloyd’s of London Shakes Up IT, Operations Teams Commercial insurance market Lloy...

Posted: Nov 17, 2024

Fewer Worker Deaths Investigated by OSHA in FY 2024

Carrier Management

Fewer Worker Deaths Investigated by OSHA in FY 2024 The Occupat...

Posted: Nov 17, 2024

Tony Marichal joins Group 1001

coverager

Marichal served as Vice President of Operations Strategy and Call Center at OneAmerica Financial.

Posted: Nov 17, 2024

F&G reports Q3 2024 results

coverager

F&G reported a record-breaking $3.5 billion in Q3 retail sales.

Posted: Nov 17, 2024

Fortegra secures $150 million in capital to support growth

coverager

Fortegra is a specialty insurer and subsidiary of Tiptree.

Posted: Nov 17, 2024

Providence Mutual enters agreement with Plymouth Rock for auto policies

coverager

Plymouth Rock will provide auto insurance renewal offers to eligible Providence Mutual policyholders in Connecticut and New Hampshire. 

Posted: Nov 15, 2024

Erie Insurance reports Q3 2024 results

coverager

Cincinnati's life insurance subsidiary posted net income of $20 million and a 4% increase in term life insurance earned premiums.

Posted: Nov 15, 2024

Cyber Crime Climbs, 90% of Americans Have Been Targeted

Carrier Management

Cyber Crime Climbs, 90% of Americans Have Been Targeted A majority of Americans were targe...

Posted: Nov 15, 2024

What’s Behind New York Fires? Climate Change, Land Use and History

Insurance Journal

Wildfires that are raging across New York and New Jersey highlight a new threat to one of the world’s most affluent regions. Climate change is regarded by scientists as the pre-eminent factor driving long-term changes in weather, and the New &#...

Posted: Nov 15, 2024

Three Studies to Help You Rethink Workers’ Compensation

Risk & Insurance

Thankfully, research that aids best practices in workers' compensation is available. The post Three Studies to Help You Rethink Workers’ Compensa...

Posted: Nov 15, 2024

AXIS reports Q3 2024 results

coverager

AXIS is leveraging AI to improve submission and underwriting processes, partnering with Mea for data and document automation.

Posted: Nov 15, 2024

Globe Life reports Q3 2024 results

coverager

D2C division aims to generate over 750,000 life insurance leads in 2025.

Posted: Nov 15, 2024

U.S. Inflation Rose Slightly in October

Carrier Management

U.S. Inflation Rose Slightly in October Inflation in the United States ticked up in October, driven by...

Posted: Nov 15, 2024

Insurance Industry Labor Market Remains Stable: Report

Carrier Management

Insurance Industry Labor Market Remains Stable: Report A majority of c...

Posted: Nov 15, 2024

GIC Re’s underwriting loss narrows for H1’24, CoR stands at 111.64%

Reinsurance News

GIC Re, the Indian public sector reinsurer, has reported an underwriting loss of approximately ₹2,376.95 crore for the half year ended on September 30th, 2024, (H1 2024), as compared to a loss of around ₹3,029.04 crore for the same period in 2023....

Posted: Nov 15, 2024

U.S. Product Recalls Surge to Record Levels in 2024 YTD

Risk & Insurance

Product recalls surge across key industries in 2024, with over 580 million units affected through September alone, Sedgwick's quarterly analysis reveals. The post

Posted: Nov 15, 2024

Oklahoma Insurance Commissioner Issues Bulletin on Use of AI

Insurance Journal

Oklahoma Insurance Commissioner Glen Mulready issued a bulletin providing insurers with regulatory guidance on the use of artificial intelligence. The bulletin, which was adopted by the National Association of Insurance Commissioners (NAIC), outlines...

Posted: Nov 15, 2024

Skyward Specialty Launches Life Sciences Liability Coverage

Insurance Journal

Houston-baed Skyward Specialty Insurance Group announced the launch of its new life sciences liability coverage. The strategic addition to the Company’s healthcare solutions underwriting unit offers comprehensive and adaptable protection specif...

Posted: Nov 15, 2024

Aon and Fathom launch new Florida Flood Model for state insurers to assess exposures

Reinsurance News

Aon, a global professional services firm, has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) to launch its new Florida Flood v3.0 model statewide to assess flood exposures in the state and inform re/insu...

Posted: Nov 15, 2024

Iowa Pizza Restaurant to Pay $99K Over Child Labor Law Violations

Insurance Journal

An Iowa pizza restaurant has agreed to pay $99,000 in fines after a Department of Labor investigation found the business assigned teenage employees to dangerous duties. Investigators found Pizza Parlor and owner Michelle Drougas illegally employed 11...

Posted: Nov 15, 2024

Insurance Industry Labor Market Remains Stable: Report

Insurance Journal

A large majority of carriers intend to increase or maintain staff sizes in the next 12 months, according to Jacobson’s Q3 2024 Insurance Labor Market Study. While the industry continues to add jobs, the employment growth remains relatively mode...

Posted: Nov 15, 2024

FTC’s Holyoak Concerned AI Collecting Children’s Data

Insurance Journal

U.S. Federal Trade Commissioner Melissa Holyoak said on Thursday the agency should look into how artificial-intelligence products use the data they gather from younger users, amid privacy and safety concerns. Holyoak, one of two Republicans on the co...

Posted: Nov 15, 2024

Holger Nieswandt to succeed Christoph Lamby at R+V Re

Reinsurance News

The Supervisory Board of R+V Versicherung AG, the parent company of the German R+V Group, has named Holger Nieswandt as a member of the Management Board. Effective April 2025, Nieswandt will oversee R+V Re. Currently serving as Head of Research &#...

Posted: Nov 15, 2024