[ad_1] 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…

[ad_1] 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…

[ad_1] 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…

[ad_1] With the rising costs of lawsuits, medical expenses, and settlements, your standard commercial liability coverage limits may fall short if you need it. That’s where commercial umbrella insurance plays a critical role, providing added protection when you need it most. Read the article below as Thomas McMillan, commercial underwriting specialist at Central Insurance, delves…

[ad_1] Sparks most recently held the role of executive vice president and chief underwriting officer at MS Transverse Insurance Group. His career in property and casualty insurance spans more than three decades, with previous roles including chief underwriting officer, chief actuary, chief financial officer and head of ceded reinsurance. He has worked at organizations such…

[ad_1] King was elected to a full term in 2022 and became the first Hispanic candidate in Georgia history to win statewide office. During his tenure, King has overseen regulatory matters involving insurance carriers, agents, and fire safety across the state. His office has been responsible for managing responses to severe weather events, addressing market…

[ad_1] Lowering the barriers, not the standards Access alone, Vollmer argues, isn’t enough. For most agents starting out, carrier appointments are the first hurdle. While some appointments come with meaningful support, others require volume commitments, background checks, and long wait times—an uphill battle for someone with no book of business. [ad_2] Source link

[ad_1] According to a news release, Exzeo, formerly known as TypTap Insurance Group, was rebranded earlier this year as part of HCI’s strategic effort to divide its operations into two distinct units with dedicated leadership and objectives. The move reflects a broader plan to allow each arm to pursue its goals more effectively, the company…

[ad_1] Seniors propel market growth  The most striking trend emerged in the senior population, with ages 71 and older experiencing remarkable expansion. This age group posted a substantial 21.2% year-over-year increase in life insurance applications, marking the second consecutive month of double-digit growth. Immediately preceding this bracket, individuals aged 61-70 also demonstrated positive momentum, registering…

[ad_1] Insurers remain keen to grow their portfolios, but many are becoming more selective. Some are now prepared to exit renewals if pricing fails to meet their benchmarks. Coverage enhancements, such as entity investigation coverage, remain widely available, particularly through broker-led policies. [ad_2] Source link

[ad_1] How are industries adapting their risk management? [ad_2] Source link

[ad_1] Factors contributing to premium increases,  Transparency options,  Definitions of “affordability” in rate-setting,  Methodologies for incorporating affordability into pricing, and  The financial condition of private passenger auto insurers and potential responses to excess profits.  The workgroup will include members of the state legislature, the Insurance Commissioner, MAIF’s Executive Director,…

[ad_1] Financial firepower: Gallagher has nearly tripled its assets since 2020, doubling revenue while maintaining a 20% profit margin – all while absorbing rising debt and amortization.  Acquisition strategy dissected: Gallagher has turned M&A into a growth engine while navigating increasing regulatory and legal scrutiny.  Middle-market mastery: By turning client lifecycle management…

[ad_1] The program market’s sustainability is about to be stress-tested [ad_2] Source link

[ad_1] Agents who fail to rethink their value are fading fast [ad_2] Source link

[ad_1] “Hub’s unparalleled middle market experience over the past 25+ years delivering industry and product specialization and risk management solutions brings a significant differentiation and level of expertise to our clients,” said Marc Cohen, chairman and CEO of Hub International. “Our ongoing investments in innovation, proprietary products, and strategic M&A, along with our commitment to…

[ad_1] Panelists included Michael Wara, director of Stanford University’s Climate and Energy Policy program; David Russell, director of CSU Northridge’s Center for Risk Management and Insurance; John Norwood, lobbyist for the Independent Insurance Agents and Brokers of California; Emily Rogan, senior program officer at United Policyholders; and Sanjay Wagle, senior vice president of governmental affairs…

[ad_1] Confidentiality provisions have been significantly reinforced, covering everything from group capital ratios to Liquidity Stress Test results, which must remain confidential and may not be disclosed, subpoenaed, or used in any private civil action. The law explicitly prohibits marketing or public comparison of these results unless to correct materially false public statements.  [ad_2] Source…

[ad_1] On appeal, the Second District reversed. The court held that the relevant statute – section 489.113, Florida Statutes – does not prohibit a general contractor from managing roofing repairs, as long as the actual roofing work is subcontracted to licensed roofers. That interpretation, the court emphasized, had already been adopted by the Fourth District…

[ad_1] Beirne, who brings more than 20 years of experience in commercial insurance and Insurtech, will oversee MSIG USA’s actuarial function. His role will include managing reserving, pricing strategy, capital modelling and portfolio analytics. Beirne joins the company from Cover Whale, where he also served as chief actuary.  [ad_2] Source link

[ad_1] The early-season fires, which damaged structures and highlighted preparedness gaps, underscored the importance of reviewing policies before peak wildfire conditions return in the summer and fall. Mercury Insurance is encouraging policyholders, particularly those in high-risk areas, to update their coverage and prepare for possible evacuations.  [ad_2] Source link

[ad_1] At the end of the quarter, Brighthouse reported common stockholders’ equity, or book value of $3.5 billion, or $61.17 per common share. Excluding accumulated other comprehensive income (AOCI), the company’s book value stood at $8.2 billion, or $141.87 per share.  [ad_2] Source link

[ad_1] “FinTech Plus exemplifies Willis’ commitment to innovation and our alignment across the global network,” said Trenton McNee, fintech and digital assets industry leader for Great Britain. “Working closely with our US counterparts, we combined deep industry insight with Willis’ worldwide insurer partnerships to craft a truly dynamic solution, one that anticipates tomorrow’s risks and…

[ad_1] “FinTech Plus exemplifies Willis’ commitment to innovation and our alignment across the global network,” said Trenton McNee, fintech and digital assets industry leader for Great Britain. “Working closely with our US counterparts, we combined deep industry insight with Willis’ worldwide insurer partnerships to craft a truly dynamic solution, one that anticipates tomorrow’s risks and…

[ad_1] The policy also allows for indemnity related to reasonable expenses incurred while mitigating claims – such as alternative suppliers, technical analysis, third-party design-arounds, or product recalls. In addition, reputation and brand protection is included, with support for costs linked to engaging public relations consultancies. [ad_2] Source link

[ad_1] The bill includes further clarification on renewal procedures. Currently, only those aged 55 and older may retake the course every three years to maintain eligibility. Under HF3290, that limitation would be removed, allowing more drivers to refresh their eligibility regardless of age. Drivers who have not claimed the discount in over three years could…

[ad_1] In the wake of a devastating EF2 tornado that hit Rome, New York, in July 2024, lawmakers are moving to strengthen disaster resilience with a sweeping legislative package. Senate Bill 7761, introduced by Sen. Joseph Griffo on May 5, 2025, outlines a three-part initiative aimed at delivering immediate aid and long-term climate mitigation tools…

[ad_1] In Asia, underlying net income was C$197 million, an increase of C$20 million or 11%. Asset management and wealth contributed C$7 million from higher fee income driven by increased assets under management. Individual protection added C$13 million, driven by new sales, in-force business growth, and joint venture performance, partially offset by lower surplus earnings…

[ad_1] For insurers, the bill mandates the development of a comprehensive written information security program tailored to the size, complexity, and risk profile of the organization. Each licensee must conduct periodic risk assessments, designate responsible personnel, and implement administrative, technical, and physical safeguards to protect non-public information. Insurers domiciled in Oklahoma are required to submit…

[ad_1] Lower expenses and improved risk experience lift segment [ad_2] Source link