Extreme weather events likely to cause billions in insured losses – report

[ad_1] Umbrella and excess coverage, along with commercial auto, saw the most significant increases [ad_2] Source link

[ad_1] The case began after Hurricane Irma struck in 2017, damaging multiple buildings at the Golf Villas II condominium complex, managed by the Condominium Association of Golf Villas II, Inc. The association submitted a property damage claim to its insurer, American Capital Assurance Corporation. But before the claim could be fully resolved, American Capital became…

[ad_1] Senate Bill 2339 would prohibit courts from holding utilities strictly liable for damages caused by wildfires. Instead, utilities could use voluntarily created wildfire mitigation plans as proof that they took reasonable steps to prevent fires. These plans would need to outline high-risk service areas, vegetation management strategies, and wildfire response procedures. [ad_2] Source link

[ad_1] Lerone Sidberry, president and COE of Hub Midwest West, emphasized the strategic fit of the acquisition, stating: “With deep expertise across all facets of the insurance industry, Dansig’s experience and skillsets perfectly complement and strengthen Hub’s capabilities in the region. We’re excited to welcome the Dansig team to Hub.” [ad_2] Source link

[ad_1] Graham Jenks (pictured above) has taken over leadership of JH Blades, effective March 1, 2025. His new role includes oversight of JH Blades Energy, JH Blades Marine, Southern Marine and Energy Technical Underwriters. Jenks had served as president of Southern Marine for the past eight years and brings operational and industry experience to the…

[ad_1] RSPE also considers a range of classes, including municipalities, public schools, community colleges, special service districts, and transit authorities. Eligibility is open to pools and individual risks, with a minimum self-insured retention (SIR) of $100,000 and a minimum premium of $125,000 per account. [ad_2] Source link