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People Moves: Aspire in California Names McQuaid VP of Product; CWCI Elects 2024 Board of Directors

Insurance Journal

Aspire Appoints McQuaid VP of Product Aspire General Insurance, headquartered in Cucamonga, California, named Pam McQuaid vice president of product. McQuaid has more than 25 years of extensive experience in insurance product management. She comes fro...

Posted: Mar 26, 2024

Couple Alleging Racial Bias in Home Appraisal Settles With Lender

Insurance Journal

A Black couple who claimed mortgage lender loanDepot denied a refinancing of their mortgage because it relied upon a racially biased, considerably low appraisal of their Baltimore home have agreed to a legal settlement in which the lender vows to &#8...

Posted: Mar 26, 2024

Residents Await Explanation After Small Maryland Town Suspends Entire Police Force

Insurance Journal

A small town on Maryland’s Eastern Shore has suspended its entire police force pending the results of an investigation by state prosecutors, a largely unexplained decision that has left residents shocked, skeptical and on edge. The unusually ha...

Posted: Mar 26, 2024

Maine Approves 19% Drop in Workers’ Compensation Loss Costs Starting Next Month

Insurance Journal

Newly-installed Maine Insurance Superintendent Robert Carey announced approval of an average workers’ compensation insurance loss cost decrease of 19%. The new loss costs go into effect for new and renewing policies as of April 1, 2024. Carey s...

Posted: Mar 26, 2024

Maine Approves 19% Drop in Workers’ Compensation Costs Starting in April

Insurance Journal

Newly-installed Maine Insurance Superintendent Robert Carey announced approval of an average workers’ compensation insurance loss cost decrease of 19%. The new loss costs go into effect for new and renewing policies as of April 1, 2024. Carey s...

Posted: Mar 26, 2024

Nevada Casino Settles for $500K for Incidents Involving Security Officers

Insurance Journal

Nevada gambling regulators fined a hotel-casino in Laughlin a record $500,000 in a settlement with the state Gaming Control Board stemming from a pair of incidents involving security officers who roughed up a patron and a resort employee nearly two &...

Posted: Mar 26, 2024

Lawsuit in New Mexico Alleges Abuse by Catholic Priest Decades Ago

Insurance Journal

A man who says he was sexually abused as a boy by a priest in New Mexico in the 1960s sued the church and diocese this week, the latest case to surface in the state as the Roman Catholic Church …

Posted: Mar 26, 2024

Are Your Business Decisions Backed by Good Data?

Insurance Journal

This post is part of a series sponsored by AgentSync. 4 qualities that distinguish good insurance business data from bad America may run on Dunkin’, but insurance runs on data. Data impacts every part of insurance. Underwriting, rating, pricing...

Posted: Mar 25, 2024

Drivers in these states get the most speeding tickets

NU Property & Casualty 360

How much does getting a speeding ticket really affect a driver's auto insurance premium?

Posted: Mar 25, 2024

ZestyAI Introduces Roof Age Solution for Property Risk Assessment

IIR

The new solution addresses the leading driver of homeowners’ insurance losses with an approach that uses both building permits and historical imagery.

Posted: Mar 25, 2024

U.S. P&C industry saw $21.2 billion underwriting loss in 2023

NU Property & Casualty 360

Swiss Re has forecast a much more favorable 2024 for the industry, predicting strong premium growth of 7% for the year.

Posted: Mar 25, 2024

Insurer hit with 341% surge of lawsuits in Florida federal courts

NU Property & Casualty 360

Among the lawsuits is a civil RICO action over allegations that the insurer and 10 other carriers have operated as a 'cartel.'

Posted: Mar 25, 2024

EIS Launches ClaimSmart to Boost Efficiency and Reduce Claims Cost

IIR

Leveraging AI and machine learning, ClaimSmart enables insurers to dramatically reduce the cost of claims, while significantly improving customer experience.

Posted: Mar 25, 2024

Smart home water monitoring devices prevent property damage

NU Property & Casualty 360

Some insurers incentivize policyholders with discounts to use water monitoring devices, decreasing losses from water damage claims.

Posted: Mar 25, 2024

Self-insured Floridians 'taking an extreme risk'

NU Property & Casualty 360

With the average premium around $6,000, some Floridians are foregoing homeowners insurance in favor of self-insurance with their investments.

Posted: Mar 25, 2024

Rampant legal-system abuse contributes to rising insurance costs

NU Property & Casualty 360

This trend subverts the judiciary's truth-finding mandate and promotes the courts as an investment opportunity.

Posted: Mar 25, 2024

Baltimore bridge collapses after ship rams into overpass

NU Property & Casualty 360

The disaster at the Francis Scott Key Bridge is likely to cause huge disruption at one of the country's busiest ports.

Posted: Mar 25, 2024

Home Buying (and Insurance) Just Got Smarter

Insurance Thought Leadership

Home Buying (and Insurance) Just Got Smarter PaulCarroll Mon, 03/25/2024 - 19:35 This week...

Posted: Mar 25, 2024

Marsh launches Edgware Re

coverager

Edgware Re is a cyber-only group captive.

Posted: Mar 25, 2024

Health and Safety Top Risk for Global Directors in 2024

Risk & Insurance

Health and safety risks top the list for global directors and officers, surpassing cyber-attacks and data loss, according to survey from WTW, Clyde & Co. The post

Posted: Mar 25, 2024

GEICO can be shopped through Amazon

coverager

GEICO's insurance quoting process is integrated with Amazon.

Posted: Mar 25, 2024

NFP acquires Get Medical Plans

coverager

The broker offers coverage for individuals, families and business and works with the leading UK insurance providers.

Posted: Mar 25, 2024

CoreLogic: Mid-Month Hail Events Impact More Than 600K Homes

Carrier Management

CoreLogic: Mid-Month Hail Events Impact More Than 600K Homes Several convective storms earlier this month spu...

Posted: Mar 25, 2024

Kingstone Insurance Company partners with Zojacks

coverager

Zojacks offers a solution that can monitor temperature and provide water leak detection.

Posted: Mar 25, 2024

Airbag Inflator Issue Prompts Chrysler to Recall Nearly286,000 U.S. Vehicles

Carrier Management

Airbag Inflator Issue Prompts Chrysler to Recall Nearly286,000 U.S. Vehicles Chrysler is re...

Posted: Mar 25, 2024

Assurance IQ closes Nectar

coverager

Nectar users will be able to access their accounts until April 1, 2024. 

Posted: Mar 25, 2024

Apollo partners with Munich Re Syndicate and Tokio Marine CC

coverager

The need for lead capacity in London comes as the shipping industry transitions to greener energy and sees an expansion in naval shipbuilding.

Posted: Mar 25, 2024

Marsh unveils cyber group captive for clients seeking more insurance stability

Reinsurance News

Marsh, an insurance broker, risk advisor and business of Marsh McLennan, has unveiled Edgware Re Ltd., a group captive insurance company that has been created for organisations “seeking more control and stability in their cyber insurance pro...

Posted: Mar 25, 2024

Plummer Acquires Nebraska’s Classic One

Insurance Journal

Plummer Insurance, Inc. announced the acquisition of Classic One Insurance from Riverstone Bank, effective March 15, 2024. Plummer Insurance was established in 1984 by Steve and Helen Plummer. The agency currently has nine locations in Western Nebras...

Posted: Mar 25, 2024

People Moves: BMS Hires Howden’s Spraggs, Austwick and Woolcott for FinPro Division; Newline Opens S...

Insurance Journal

This edition of International People Moves details appointments at the broker BMS Group and the re/insurer Newline Group. A summary of these new hires follows there. BMS Hires Howden’s Spraggs, Austwick and Woolcott for FinPro Division BMS, the...

Posted: Mar 25, 2024

Arkansas Private Railroad Fined $910K Over Hazardous Waste Violations

Insurance Journal

The EPA recently finalized a settlement with the Arkansas Midland Railroad Company over alleged hazardous waste violations at a private rail track in Hot Springs, Arkansas. The company illegally stored more than 750,000 gallons of highly flammable ha...

Posted: Mar 25, 2024

Miller bolsters Onshore energy practice with senior appointments

Reinsurance News

Specialist re/insurance broker Miller has bolstered its Onshore energy practice team with four appointments, naming Adam Barber-Murray to lead the team as Head of Onshore. In this new role, Barber-Murray will focus on midstream and downstream oil...

Posted: Mar 25, 2024

U.S. Property/Casualty Industry Records $21.2B Underwriting Loss in 2023

Risk & Insurance

Despite a 9.9% growth in net earned premiums, the US property/casualty industry reported a $21.2 billion underwriting loss in 2023, according to a report by AM Best. The post

Posted: Mar 25, 2024

Barn Collapse in Southern Illinois Kills 1 Man, Injures Another

Insurance Journal

WATERLOO, Ill. (AP) — One man was killed and another was injured in southern Illinois when a barn partially collapsed into a burn pit and caught fire, authorities said. A man called 911 at 9:35 a.m. Saturday and said a …

Posted: Mar 25, 2024