“Despite the positive perceptions, insurers face challenges in ensuring consumers adopt AI tools. Many consumers find that the technology is not yet sufficiently developed to be adopted at scale, eroding their trust,” said Beatriz Benito, GlobalData’s lead insurance analyst. Source link
The US back-down on tariffs will have some short (and long-term) effects Source link
But the appellate panel disagreed. Writing for the court, Judge Noah P. Hood explained that the term “accident” wasn’t defined in the policy, so Michigan law supplies a default definition: “an undesigned contingency, a happening by chance, something not naturally to be expected.” Importantly, the court emphasized that whether an incident qualifies as an accident…
Consumer Watchdog, a nonprofit advocacy group, has also condemned the move, calling it a violation of California’s Proposition 103, which requires that insurers fully justify any rate increase before implementation. “The public deserves transparency,” said Carmen Balber, the group’s executive director. “Refunds after the fact do little for homeowners who are already struggling.” Source link
New product offerings Starwind Environmental, led by Program President Mike Padula, will provide coverage for a range of environmental exposures. The program is intended for contractors, property owners, and environmental service providers. Available products include Contractors Pollution Liability (CPL), Contractors Pollution and Professional Liability (CPPL), Site Pollution Liability (SPL), Transportation Pollution Liability (TPL), and Environmental…
Gallman served Alfa, her UM carrier, with the original suit in July 2021. One month later, she voluntarily dismissed the action. In December 2021, she filed a renewal complaint and served Alfa the next day. Alfa moved for summary judgment, arguing that it hadn’t been timely served in the original suit. The trial court agreed,…
The case, Xiang Zhao v. State Farm Fire & Casualty Co., 2025 IL App (2d) 240723, began after a hailstorm struck Zhao’s home in Vernon Hills, Illinois, on April 20, 2023. Zhao filed a claim with State Farm, which responded by issuing a payment of $12,677.94 for repairs to gutters, downspouts, and window trim. Source…
The case centers on years of litigation stemming from over 30,000 lawsuits filed against Moldex by plaintiffs who alleged its respirators failed to protect them from inhaling hazardous dusts, including silica and asbestos. Initially, Moldex’s primary insurers covered its defense. After those policy limits were exhausted in 2003, Moldex turned to its umbrella and excess…
“We are proud to join forces with King Risk Partners,” he said. “Our shared values—excellence, integrity, and accountability—make this a natural fit. With access to King Risk’s expansive resources and forward-thinking strategies, we are confident our clients will enjoy an even greater range of services and innovative insurance solutions. Together, we are committed to maintaining…
“While other market participants continued business as usual, we took a different path,” said Jim Belardi, co-founder and CEO, during a recent investor call. “With the presence of market volatility, we made the strategic decision to accelerate new business volumes, which resulted in $26 billion of gross inflows.” Source link
The US back-down on tariffs will have some short (and long-term) effects Source link
As extreme weather events outpace building codes, Victor’s Yvonne Castillo says the design and construction industry must face a hard truth—climate risk is no longer future tense Source link
Currently, the federal government covers 68% of premiums for policies offering up to 80% revenue or yield coverage and 53% for policies at the 85% coverage level. Under the bill, those subsidy rates would increase to 77% and 68%, respectively, according to an analysis released by Sen. John Hoeven, R-N.D., one of the bill’s sponsors….
Human element in the workplace Another risk is the human element. The workforce in 2025 includes four generations, namely Baby Boomers, Gen X, Millennials and Gen Z, creating both opportunities and challenges. Each generation brings different values, work preferences and skills, making recruitment, development and retention more complex. Source link
Chairman takes over as carrier withdraws financial guidance Source link
The report highlights a rise in the percentage of homeowner insurance claims closed with no payment. Nationally, 41.9% of claims were closed without payment in 2024, up from 25.8% in 2004. In Louisiana, the rate was higher, at 44.6%. Several insurers closed more than half of their homeowner claims without making any payments. Source link
Elsewhere, Markel launched FintechRisk+, an insurance policy tailored for fintech companies. This policy offers comprehensive coverage, including financial services and technology liability, directors and officers (D&O) liability, theft, and cyber protection, with limits up to $20 million. Source link
Trial support, carry law shifts reshape protection priorities Source link
The report detailed how employees in five states – Pennsylvania, Delaware, New Jersey, New York – and Washington, D.C., collaborated with three medical providers who submitted fraudulent or medically unnecessary claims using employee insurance information. In some cases, dependents’ information was also used. Source link
Recognize outstanding networks and alliances Source link
Security Group Coming in second, Security Group spent $212,498 on commission and brokerage expenses in 2024, well in the range of the $311,904 it earned in premiums. This translates to a ratio of 68%, the highest the firm has recorded in five years. Source link
From Glassdoor to LinkedIn, your online presence is now part of the underwriting file Source link
While investors in private climate data firms may benefit, the broader impact will be felt by policyholders. “Anytime you increase costs for insurers, those costs get borne out by the policyholders,” he said. “Over time, that is going to make insurance more expensive for homeowners and business owners.” Source link
For many firms, she explained, these transactions become a catalyst for reassessment. The average deal size in 2024 hit $792 million, according to Travelers’ data. With deals of that magnitude, companies are under pressure to scrutinize every function, including insurance. Source link
Essential Coverage Every Family Enterprise Needs Small businesses are built on big dreams, and those dreams run even deeper when family is involved. You’ve invested your time, money, and heart into building something meaningful. But no matter how careful your planning, the unexpected can (and often does) happen. From natural disasters to employee injuries to…
The U.S. apparel market is expected to grow to $298.37 billion by 2029, so it’s easy to see why opening a clothing boutique is such an appealing and creatively fulfilling venture. But amid all the planning, design, and inventory decisions, one thing that shouldn’t fall off your to-do list is insurance. From signing your lease…
When protecting your home from unpredictable natural forces, understanding your insurance policy is key—especially when it comes to your deductible in insurance. While most people are familiar with the concept of deductibles, not everyone realizes there are different types. One to pay close attention to—particularly if you live in an area prone to disasters like…
The tool manufacturing industry is growing steadily, fueled by demand across construction, industrial, and consumer markets. For tool manufacturers, the global “hand tools and woodworking tools” market size was valued at $10.3 billion in 2022 and is expected to expand at a compound annual growth rate of 5.1% from 2023 to 2030. As tool manufacturers…
With new home sales finishing 2024 2.5% higher than the previous year—and modest growth projected for 2025 thanks to steady macroeconomic conditions and a strong labor market—opportunities for home builders and general contractors continue to expand. However, with more projects comes greater exposure to risk. From water damage and jobsite accidents to claims tied to…
The home construction industry is full of opportunity and risk. A project can go off track in many ways, from property damage and worker injuries to construction defects and vehicle accidents. That’s why a strong insurance program is one of your most essential tools on the jobsite, as it’s critical for protecting your business from…
