Insurance Journal
In recent months the dynamic markings for voices asserting the insurance industry is not up to challenges posed by climate change have gone from mezzo-piano to mezzo-forte. Endorsing a proposal by Rep. Adam Schiff (D-Calif.) to create a federal reins...
Posted: Sep 15, 2024
Finding success in the excess and surplus lines sector means building relationships, finding a specialty, putting in the work and getting creative in both hard and soft market cycles, young wholesalers say. “Technical knowledge is important, bu...
Posted: Sep 15, 2024
By Jahna Jacobson Wholesale insurance teams are up for a challenge, and they need to be. Rising rates, shrinking appetites, hurricanes, wildfires and increased demand mean those working in the excess and surplus (E&S) sector are facing a unique s...
Posted: Sep 15, 2024
A study from RAND found that rising litigation rates, trial awards and claim severity are consistent with the expected effects of social inflation. The study, What Is the Evidence for Social Inflation? Trends in Trial Awards and Insurance Claim Payme...
Posted: Sep 15, 2024
By Tom Ruggieri and Mark Smith In a decade defined by disruption, the wholesale insurance market has adapted and evolved to meet the demands of an increasingly complex risk environment. The industry has been remarkable in its ability to pivot, …...
Posted: Sep 15, 2024
I confess that for a guy who has made his living largely on commissions for decades, I don’t like the concept. It’s not that I don’t like getting paid — I do — but I find the commission system in …
Posted: Sep 15, 2024
Looking back at my Insurance Journal columns over the past 5 years, I found that I wrote at least one column a year about water damage claims. So, before this year runs out, I guess it’s time for another, especially …
Posted: Sep 15, 2024
A goal without a plan is just a wish. Successful agency owners strategically plan business operations thinking ahead several years. Yet how many owners consider the end game in those plans? Are you building an agency to sell? If so, …
Posted: Sep 15, 2024
The property/casualty insurance industry and excess and surplus lines brokers in particular are at the world’s beck and call to help navigate what is an increasingly risky environment. The industry continues to respond as social, environmental,...
Posted: Sep 15, 2024
By Allen Laman Continuing worker shortages, the threat of nuclear verdicts in some geographical locations, and the implementation of new technology are all shaping the property/casualty insurance market for senior living facilities. Challenging areas...
Posted: Sep 15, 2024
I don’t expect most insurance agencies to possess formal, in-depth strategies. Many are too small and focused on the next sale or the next renewal. Even many medium sized agencies are focused on the next sale, and provided they make …
Posted: Sep 15, 2024
“The world’s not a less risky place.” “We’re clearly in historical hard market conditions for property and casualty.” “I don’t think we’re going to see anywhere near the same level of flow back in...
Posted: Sep 15, 2024
Los Angeles area vocational school owner, Guillermo Frias, 65, of Paramount, and the school’s accounting manager, Yesid Colon, 54, of Baldwin Park, were arraigned following a California Department of Insurance investigation into allegations the...
Posted: Sep 15, 2024
By William Rabb He’s been called a “do-gooder,” a “troublemaker” and a whistleblower. And he may be the best friend the Florida property insurance industry has. A mechanical engineer based in Edgewater, George Miles has...
Posted: Sep 15, 2024
Texas is inching closer to adopting revised oil and gas waste management rules for the first time in four decades. The Railroad Commission of Texas announced the draft rule at its Aug. 15 meeting and is now soliciting public comment. …
Posted: Sep 13, 2024
JM Wilson, headquartered in Portage, Michigan, promoted several team members in its home office. Kristin Bolhuis was promoted to property and casualty manager. She works with carrier underwriters and independent insurance agents in Michigan and Texas...
Posted: Sep 13, 2024
DETROIT (AP) — Thousands of documents turned over by Michigan State University reveal nothing new about what the school might have known about years of sexual abuse committed by Larry Nassar, the campus doctor who assaulted female athletes, the state...
Posted: Sep 13, 2024
ST. LOUIS (AP) — The water level of the Mississippi River is unusually low for the third straight year, forcing barge companies to put limits on how much cargo they can carry and cutting into farm profits. It was just …
Posted: Sep 13, 2024
Cooler weather is aiding the fight against a large Southern California wildfire, one of three large fires in the region. The Bridge Fire exploded in size on Tuesday, forcing evacuations in the communities of Wrightwood and Pinion Hills. Authorities a...
Posted: Sep 13, 2024
Microsoft Corp. said it’s building an alternative for cybersecurity companies that now utilize the deepest layer of its operating system after a flawed update from CrowdStrike Holdings Inc. triggered a global IT meltdown. The Redmond, Washingto...
Posted: Sep 13, 2024
Delaware Insurance Commissioner Trinidad Navarro won this week’s Democratic primary for the post, gaining more than 70% of the vote versus his rival, Kayode Abegunde. Navarro was first elected commissioner in 2016. He served for 20 years with t...
Posted: Sep 13, 2024
Swiss insurer Baloise is considering changes in its board of directors, Chairman Thomas von Planta said on Thursday after the company revealed plans to boost returns to shareholders. “We want to strengthen the insurance expertise on the board,&...
Posted: Sep 13, 2024
Specialist salvage teams are set to renew efforts to remove a blazing oil tanker that’s been stuck in the Red Sea for over three weeks after it was attacked by Houthi militants, the European Union naval force in the region …
Posted: Sep 13, 2024
Warm water in the Atlantic Ocean and Gulf of Mexico can fuel powerful hurricanes, but how destructive a storm becomes isn’t just about the climate and weather – it also depends on the people and property in harm’s way. In …
Posted: Sep 13, 2024
Chinese regulators on Friday hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. D...
Posted: Sep 13, 2024