Insurance Information Institute launches campaign in Louisiana on legal system abuse

Recognizing the employers of choice in the insurance industry — submit your entry now Source link

Profitability and pricing Implications | Insurance Business America Featured Content Profitability and pricing Implications The California Surplus Lines Market Index highlights the sector’s resilience and adaptability, even amid economic and environmental challenges. These trends serve as both a gauge of market health and a strategic tool for shaping policy offerings, pricing and risk management. Please…

“Interestingly, that may increase the number of third-party lawsuits,” he said. “There is, in the US, the ability for citizens to do a citizens’ action against a company that’s not in compliance with the regulations, and one of the criteria is the regulators aren’t doing anything. Then, the citizens can bring a lawsuit and pay…

“The sale of Interboro formally completes our strategic transformation into a specialty insurer focused on underwriting commercial residential property insurance,” said Brad Martz, president and CEO of American Coastal. “All of our capital and human resources are now fully focused on our core business.” Source link

Legal professionals are assessing the insurance implications of trade-related disruptions. According to Pillsbury Law’s Jeff Kiburtz and Lisseth Ochoa-Chavarria, several lines of coverage may be affected, including political risk, directors and officers liability, builder’s risk, subcontractor default, and marine insurance. Although tariffs do not cause physical damage, the financial and operational fallout may lead to…

Following those filings, both BOEM and UNOCAL issued claims under the bonds, prompting US Fire to demand collateral from the indemnitors, as permitted under Paragraph 3 of the indemnity agreement. That provision allows the insurer to demand irrevocable letters of credit or other forms of security, at its sole discretion, upon receipt of claims—even before…