The captive craze is testing broker credibility, said industry veteran

Under the bill, service of process and official communications from the Insurance Commissioner may now be delivered via electronic mail. Insurance producers, particularly nonresident licensees, are expected to monitor their designated email accounts regularly. Failure to do so could result in significant legal or administrative repercussions. Source link

It seems like these days you can’t read an article or listen to a story without AI being mentioned. Whether we like it or not, AI is all around us and impacts many types of industries and involved in some way, shape or form in our daily lives.  So it is not surprising that AI…

Insurance revenue rose 11% to €48.1 billion, while operating profit (EBIT) increased to €4.9 billion from €3.1 billion in the previous year. Net income grew by 25% to €1.98 billion, exceeding the company’s original 2025 target ahead of schedule. Return on equity reached 17.9%, up from 16.6% in the year prior. Source link

The case stems from a September 20, 2017 workplace accident, where You Tien Chen, a worker employed by subcontractor 177 TS Group, Inc., fell from a ladder while working at a construction site. The site was owned by Mayer Malbin, which was insured by Hartford Fire Insurance Company. TS Group, the subcontractor, held a policy…

“Since the Lloyd’s ‘silent cyber’ mandate, insurers have been required to clearly state whether cyber risk is covered or excluded,” he said. “In practice, this has led to wide-scale application of cyber exclusions across hull, cargo, and non-International Group mutual P&I policies, regardless of format. That means many marine operators today are unknowingly exposed.” Source…

A growing disconnect between insurance market capacity and lender requirements is squeezing real estate borrowers and leaving brokers to close the gap Source link