HUB launches PEO consulting practice

Loyalty additions are paid as a one-time benefit in some policies in lieu of a simple reversionary bonus (SRB). The main difference is that, unlike the simple reversionary bonus, which becomes a part of the policy benefits as and when it is declared, loyalty additions shall be available to the policyholder only at the time of exit from the policy….

At the same time, brokers must work with carriers to ensure the products fit the needs and budgets of SMEs. For Lezzi, the future of the cyber insurance sector hinges on a blend of forward-looking risk management, adaptable product design, and global education, especially for underserved market segments. Source link

Advancements in vehicle technology, including the integration of Advanced Driver Assistance Systems (ADAS), have influenced collision claim frequencies and severities. While ADAS features aim to reduce accidents, the complexity and cost of repairing these systems can lead to higher claim costs when collisions occur. Source link

Revenue and income both increased year-on-year Source link

While plaintiffs’ attorneys have evolved, adapting their trial tactics to maximize awards, defense lawyers remain stuck in the past, according to Tyson. The insurance industry’s response to litigation risk, i.e. building litigation management departments focused on controlling expenses, has done nothing to address the real enemy. It’s a miscalculation, Tyson believes, that’s costing carriers billions….

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 last…