[ad_1] State regulators warn of sharp premium increases [ad_2] Source link

[ad_1] Steven Quance, Drake Plastic’s president, established Drake Insurance in North Carolina to address coverage gaps his business faced. Despite nine IRS audits of Drake-related entities and Quance’s family – all concluding without finding irregularities – the agency disallowed the company’s 2020 captive insurance premium deduction, claiming the arrangement lacked “economic substance.” [ad_2] Source link

[ad_1] NOAA forecasts up to five major hurricanes by November [ad_2] Source link

[ad_1] Here’s what’s in the complaint: Progressive is providing a defense for Lee Timber Company, Inc. after a crash that happened on or about February 19, 2024. According to the filing, Ramon Camejo, described as an employee or agent of DTA Trucking, LLC, was driving a 2009 Freightliner tractor owned, leased, or controlled by DTA….

[ad_1] How one insurance executive guided his team through chaos and disruption [ad_2] Source link

[ad_1] Delaying climate adaptation comes at a cost [ad_2] Source link

[ad_1] Aegon, the Dutch insurer whose American operations now underpin the majority of its earnings, is weighing a plan to relocate its corporate headquarters and legal base to the United States. The review underscores the growing dominance of Transamerica, its Baltimore-based subsidiary, within the group’s global strategy. [ad_2] Source link

[ad_1] In New Mexico, plans sold on and off the BeWell marketplace will increase an average of 35.7%, the report said. Regulators pointed to higher-than-expected claims in 2024, increased medical and pharmaceutical costs, and greater utilization. To soften the blow, the state will use its Health Care Affordability Fund to provide up to $68 million…

[ad_1] Similar pressures are visible across neighboring states. South Dakota’s market is led by State Farm, American Family, Farmers, Auto-Owners, and Nationwide, which together wrote more than half of the homeowners business in 2024. In Minnesota, State Farm, American Family, Auto-Owners, Farmers, and Liberty Mutual make up the top five carriers, all with significant exposure…

[ad_1] The property/casualty complaints unit closed 4,302 cases, generating nearly $4 million in recoveries, while the life/health unit closed 1,969 cases and secured almost $6 million. Within health-related disputes, complaints over denial of medically necessary treatments resulted in $430,000 recovered from 680 complaints. [ad_2] Source link

[ad_1] According to a Best Wire report, the money would support the state’s reinsurance program, direct payments to carriers to offset the loss of federal tax credits, and other programs under the Colorado health insurance affordability enterprise. The enterprise, created in 2020, is funded by federal dollars and insurer fees. It runs the reinsurance program,…

[ad_1] As of Sunday, maximum sustained winds were near 40 mph, with some strengthening possible in the next 48 hours. However, the NHC said the storm posed no immediate threat to land, reducing the risk of property damage and insurance claims. Meteorologist Phil Ferro noted that Fernand “could get better organized by Monday, but should weaken…

[ad_1] Cobblestone Lofts, facing significant liability, sought a declaration that Great American was required to provide coverage under its policy. Great American denied the claim, issuing a “direct, definitive notice” that stated “a breach of contract is not an accident and, therefore, does not constitute an ‘occurrence’ under the Primary Policy or Umbrella Policy,” and…

[ad_1] After the accident, Jones submitted a claim to Travelers. Travelers referred the claim to Crawford (V.I.) Inc., a claims adjuster, for evaluation. On March 10, 2014, Crawford, on behalf of Travelers, denied coverage for property damage and bodily injuries, stating that Jones was not operating the rental vehicle and that Turnbull did not meet…

[ad_1] The tax break was originally designed to encourage insurers to maintain a substantial workforce presence in Colorado. According to the legislative declaration, and based on evaluations by the Office of the State Auditor, the General Assembly finds that, even after criteria were amended in House Bill 21-1312, insurance companies continued to qualify for the…

[ad_1] “Focus on ways to recover mission critical operations in the event of a disruption,” Eskins added. “Use tabletop exercises, vendor assessments, and case studies to help determine what the right defense and recovery measures should be. Establish robust processes and policies, so that everyone knows what they should be doing day-to-day and when a…

[ad_1] Suite offers lifetime withdrawals, daily roll-ups, and premium bonuses to support retirees [ad_2] Source link

[ad_1] “The highly complex nature of Florida’s commercial residential market creates the opportunity for a talented and experienced team of underwriters, like the one that has been assembled at Crestwell, to generate attractive and sustainable underwriting profits over the long-term,” Matt Popoli, partner at Bain Capital said. [ad_2] Source link

[ad_1] According to the company, Chevrolet leads the rankings, with the Blazer EV and Equinox EV named the most affordable models to insure. They are followed by the Nissan Leaf, Kia Niro EV, Ford F-150 Lightning, Hyundai Kona EV, MINI Cooper SE, Hyundai IONIQ EV, Fiat 500e, and the Subaru Solterra/Toyota BZ4X. [ad_2] Source link

[ad_1] On August 22, 2025, Travelers Property Casualty Company of America filed a lawsuit against The Hanover Insurance Company in the US District Court for the District of Massachusetts. The dispute centers on a slip-and-fall incident that allegedly took place on January 25, 2022, at 27 Christie Way in Marlborough, Massachusetts – a property known…

[ad_1] According to the complaint, Dollar Tree entered into a Product Supply Agreement with Zephyr Solutions LLC on December 20, 2019. Zephyr agreed to supply helium products and high-pressure cylinders for use in Dollar Tree stores. The agreement required Zephyr to procure insurance, including commercial general liability coverage, naming Dollar Tree as an additional insured….

[ad_1] The Zurich policy at issue is a “Zurich Select Plus” liability insurance policy, including a Management and Company Liability Coverage Part, issued to Garrison Management, Policy No. MPL 7647590-00, with a policy period of August 7, 2022, to August 7, 2023, and a liability limit of $1,000,000. The policy obligates Zurich to pay “Loss”…

[ad_1] In the first half of 2025, recalls totaled 1,636, slightly down from 1,697 in the same period of 2024. Units affected fell to 211.25 million, compared to 384.17 million a year earlier, the lowest half-year figure in a decade. For insurers, this reflects reduced exposure to large-volume losses but continued pressure from the rising…

[ad_1] Affordable Care Act US health insurance plans are required by the Affordable Care Act to provide coverage for 10 “essential health benefits.” These include ambulatory patient services, emergency services, hospitalization, maternity and newborn care, mental health and substance use disorder services, prescription drugs, rehabilitative and habilitative services, laboratory services, preventive and wellness services, and…

[ad_1] Alive Risk provides insurance solutions for the amusement, entertainment, contingency, special events, and sports and leisure sectors. The company’s entertainment team offers coverage for music, touring, live events, film and media productions, and production support services. [ad_2] Source link

[ad_1] The USLI umbrella policy states: “If you are legally liable to pay damages for a loss to which this insurance applies, we will pay your net loss in excess of the retained limit. … We are not, however, obligated to defend any claim or suit which is covered in whole or in part by…

[ad_1] Many brokers, Shearon said, still lead with carrier logos, product names, and price promises – missing what clients actually value. “At the end of the day, the insurance policy is just a piece of paper until they need it,” he said. Clients care more about whether they can reach their broker when something goes…

[ad_1] [00:00:00] Paul Lucas: Hello everyone and welcome to the latest edition of Insurance Business TV as we delve into the A&H market with QBE North America. Now the company has released its 2025 Accident and Health Market Report which offers insights on current trends affecting self-funded healthcare plans. Key topics include medical stop-loss claims…

[ad_1] The company is looking to convert to a mutual holding company structure [ad_2] Source link

[ad_1] According to its approved application filed May 20, Viceroy is forming as a Florida stock corporation with 500,000 shares of common voting stock at a $50 par value. Monarch will hold 90,000 shares, while 10,000 shares will go to funds managed by or affiliated with Hale. The company will write homeowners multiperil lines in…