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New York Marine wins court order forcing Millennia Assurance to post $4.75M collateral
[ad_1] New York Marine had asked the Supreme Court, New York County, to compel Millennia to deposit the collateral amount. The motion was initially denied without prejudice, but the Appellate Division, First Department, reversed that ruling. The appellate court found that New York Marine met the legal standard for a preliminary injunction, showing both a…
Marsh enhances Cyber Echo, offering more coverage for cyber risks
[ad_1] Cyber capacity After a period of significant expansion, the cyber insurance market experienced a modest contraction of 2% in 2023, indicating a stabilization following previous rapid growth. This stabilization suggests that, while the market has matured, capacity has remained relatively sufficient to meet demand. [ad_2] Source link
Tennessee court orders Cincinnati and Auto-Owners to share defense costs in property manager lawsuit
[ad_1] In a decision that could ripple through the commercial insurance landscape, the Tennessee Court of Appeals has ruled that two insurers must share responsibility for defending a property management company in a premises liability lawsuit. The decision, issued May 21, 2025, in HG Jones, LLC v. Jordan Howell et al., offers a cautionary tale…
Texas court rules police escort officer not entitled to workers’ comp
[ad_1] Anderson, a commissioned reserve police officer with the Galena Park Police Department, operates a side business providing uniformed motorcycle police escort services to private entities such as funeral homes, athletic teams, and trucking companies. This work, which requires a licensed peace officer, is performed using Anderson’s own police motorcycle, siren, emergency lights, uniform, and…
Texas passes S.B. 455 mandating in-state arbitration for surplus lines insurance contracts
[ad_1] The legislation, which becomes effective September 1, 2025, aims to anchor dispute resolution in familiar legal territory for Texas-based insureds, while allowing flexibility for larger, more complex risks. It reflects a clear intent to ensure that the interpretation and resolution of surplus lines insurance contracts for in-state risks are handled under Texas jurisdiction, unless…
Addressing ‘silver tsunami’ is critical, warns MMA claims director
[ad_1] Redefining claims advocacy As the workforce undergoes a generational shift, so do industry demands. AI, machine learning, and data analytics are reshaping claims management, but technology alone isn’t the solution. The key is ensuring that these advancements align with the needs of a younger, more diverse workforce while also preserving the institutional knowledge that’s…