Patriot Growth partners with aviation specialist to expand P&C capabilities

[ad_1] In 2024, USAA returned $2.2 billion to members through distributions, dividends, and banking rebates and rewards. The company also paid $4.3 billion in catastrophe-related claims. It also reported process improvements, including a reduction in average catastrophe claims processing time from 14 days to seven days, using advanced technology. [ad_2] Source link

[ad_1] Emerging threats and evolving regulations are highlighting the power of these components [ad_2] Source link

[ad_1] The new legislation, Landry explained, is aimed at reining in what he described as “a cultural problem of frivolous litigation,” driven in part by lawyer advertising. He noted that while Louisiana’s rate of car accidents and repair costs align with national averages, the state sees disproportionately high minor injury claims—twice the national average. [ad_2]…

[ad_1] The problem, Merlin argued, isn’t the existence of affiliated service providers – it’s the lack of transparency and oversight. “Managing general agents, service companies, reinsurers all have a proper place, and they can be affiliated,” he said. “But that’s why the transactions have to be audited.” [ad_2] Source link

[ad_1] This is according to Insurance Business’ recently released insights Data Hub, where the definition of “liability insurance” covers surety, credit, fidelity, and financial guarantee, protection against theft, regular and excess workers’ compensation, medical malpractice, medical professional liability (both claims-made and occurrence-based), product liability (both claims-made and occurrence-based), and other forms of liability insurance structured…

[ad_1] If the total taxes calculated under the bill amount to less than $5,000 in a given year, the captive insurance company must pay a minimum tax of $5,000. For captives newly authorized within a calendar year, the minimum tax is prorated by quarter: $5,000 if authorized in the first quarter; $3,750 in the second;…