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NY Workers’ Compensation Rates Anticipated to Decrease in 2026
[ad_1] The NY Compensation Insurance Rating Board (NYCIRB) recently voted to file for a 13.2% decrease in overall workers’ compensation loss costs. These loss costs are what insurance companies use to develop the workers’ compensation (WC) rates that employers see on their policies. NYCIRB will file their request with the NYS Department of Financial Services by…
As the climate shifts, flood insurance needs to become less of an afterthought – expert
[ad_1] Flood insurance is evolving, but the challenges remain steep – from educating homeowners on the true risks, to bridging gaps in coverage, to navigating the balance between private and public insurers. As the risks increase, the industry will have to adapt quickly. And for Templeton-Jones, that means one thing above all: “The education has to…
W.R. Berkley posts lower Q1 net income but revenue increases
[ad_1] Income before taxes was $538.6 million, down from $574.1 million a year ago. After accounting for $121.3 million in income tax and $222,000 in noncontrolling interests, net income attributable to common shareholders was $417.6 million. The company reported 399.8 million diluted shares outstanding for the quarter, compared to 405.8 million in the same period…
What Northeast Contractors Need to Know
[ad_1] Contractors and their work are vital to the nation’s economy. In 2024, the construction industry contributed approximately $2.2 trillion—around 4.5% of the nation’s GDP. With over 8.2 million employees, the sector is essential for job creation and economic growth. In the Northeast, where infrastructure projects, urban development, and historic renovations are common, construction plays…
Second Circuit rules Lloyd’s surplus lines arbitration clause trumps Louisiana insurance law
[ad_1] The case stemmed from disputes over insurance coverage for two commercial properties in Louisiana that were damaged during Hurricane Ida in August 2021. After the storm, the properties were sold to new owners – 3131 Veterans Blvd LLC and Mpire Properties LLC – who took over the rights under the existing insurance policies. The…
Selective grows premiums, boosts book value in profitable Q1
[ad_1] From senior note issuance to improving personal lines—Selective’s Q1 strategy pays off [ad_2] Source link