insurance buisness 1

“Reckless” move could destabilize homeowner protections, association argues Source link

Small businesses face big challenges in risk mitigation Source link

This high-impact, one-day summit brings together industry trailblazers from organizations like Amwins, Lockton, Zurich North America, PURE Insurance, AmTrust Financial Services, and Nationwide to spark conversations, share strategies, and champion change. Whether you’re climbing the career ladder or already leading the way, this event is your gateway to powerful learning and meaningful connections. Source link

Senate Bill 174 would remove the exemption the insurance industry has had since the UTPA was enacted in 1971. The act governs a broad set of business conduct rules, including civil penalties, price discrimination, antitrust enforcement, and fair marketing practices. Source link

The Supreme Court ruled, however, that Farmers met its legal obligations by using notice language approved by the state’s Department of Consumer and Business Services (DCBS). The court said insurers that adopt agency-approved wording are not liable for omitting portions of the statute, affirming that the legislature intended for such approval to serve as compliance….

The Supreme Court ruled, however, that Farmers met its legal obligations by using notice language approved by the state’s Department of Consumer and Business Services (DCBS). The court said insurers that adopt agency-approved wording are not liable for omitting portions of the statute, affirming that the legislature intended for such approval to serve as compliance….

In his new role, Beresheim will focus on aligning leadership with evolving client needs, streamlining operations, and driving innovation across Lockton’s risk offerings. He has played a pivotal role in developing the firm’s specialty practices, with a focus on cyber & technology, transaction liability, and private equity. Source link

The Supreme Court ruled, however, that Farmers met its legal obligations by using notice language approved by the state’s Department of Consumer and Business Services (DCBS). The court said insurers that adopt agency-approved wording are not liable for omitting portions of the statute, affirming that the legislature intended for such approval to serve as compliance….

The deal includes 15 insurance programs across accident and health, property/casualty, and reinsurance, along with the retail agency NSM Insurance Brokers, the company said in a statement. As part of the transition, NSM’s operations will be split into two distinct entities. New brand identities will be introduced for both the U.S. commercial and direct-to-consumer businesses,…

Transatlantic Underwriters (TAU), a Marietta, Georgia-based wholesale insurance brokerage specializing in transportation risks, has launched a new Property and Casualty (P&C) division. The expansion adds six new lines of business: Commercial General and Excess Liability, Commercial Property, Inland Marine, Builders Risk, and Garage. Source link

The problem, Merlin argued, isn’t the existence of affiliated service providers – it’s the lack of transparency and oversight. “Managing general agents, service companies, reinsurers all have a proper place, and they can be affiliated,” he said. “But that’s why the transactions have to be audited.” Source link

Changes in pricing dynamics and risk exposure outlined Source link

The case stemmed from a commercial auto policy issued by Redwood to Imperial Charters, LLC, a charter bus operator. The policy covered the period from June 19, 2019, through June 19, 2020. Imperial Charters failed to pay monthly premiums in February, March, and April 2020. In response, Redwood issued a cancellation notice effective June 2,…

Ephesus disputed the insurer’s valuation and invoked the policy’s appraisal clause, set forth in Form A 100, § C(2) (Jan. 2001). That provision required each party to appoint a “competent and impartial appraiser,” with a third-party umpire resolving disagreements. The insurer’s appraiser valued the net replacement cost at $68,148.78, while the church’s appraiser submitted an…

Forget the 80s hard market or the 2008 crash. Today’s insurance landscape is rewriting the rules and not in contractors’ favor Source link

Firm will gain US licenses and federal surety authority Source link

Securities regulation and insurance oversight ​In the US, securities regulation is primarily managed at the state level, with each state establishing its own regulatory framework. The structure and oversight of securities regulation vary across states, with some integrating securities oversight within their insurance departments, while others maintain separate agencies.​ Source link

Moves target US growth through regional strategy and insurtech collaboration Source link

The dispute began with a subcontract between Continental and US Framing to provide framing services for two student housing projects—one in Knoxville, Tennessee, and the other in Ann Arbor, Michigan. Work began in 2017, but disagreements quickly emerged over delays on the Knoxville project. In December 2017, the parties amended the subcontract, agreeing to abandon…

When Garcia turned into a parking lot, Ahlgren followed in the Silverado. He left the truck running, exited it, and walked approximately 25 steps toward Garcia’s vehicle, intending, he claimed, to obtain the license plate number to file a police complaint. Garcia then drove forward and struck Ahlgren, injuring him. Garcia, who was uninsured, later…

“That’s not something we can accept, forcing developers to find coverage elsewhere, often in a different market. We are seeing more engagement between lenders, insurance advisors, brokers, and developers to ensure that policies are bankable from the start. This needs to happen early in the process, ideally before construction insurance is finalised,” Luciano added. Source…

According to a report from Triple-I, Louisiana ranks among the least affordable states for both home and auto insurance, despite reforms introduced in 2024. “Louisiana, with the leadership of its insurance commissioner, Tim Temple, is on a potential path to stabilizing its insurance market,” said Triple-I CEO Sean Kevelighan. “We’ve seen in other states, like…

Following the termination, Liberty and ISOP, acting as sureties, engaged Professional Construction Consulting (PC2) to evaluate the site and identify a new contractor. Jeff Bruce—owner of two distinct entities, E&I Global Energy Services, Inc. and E&C Global, LLC—entered discussions with PC2. Ultimately, E&C was named in a March 2017 tender agreement and in the subsequent…

Nearly 1,500 reports of severe storms were recorded between April 2 and 7 Source link

The plaintiffs, which included Travelers and a group of insurers affiliated with Philadelphia Indemnity, reimbursed their insureds for expenses following the breach, including costs of forensic investigations, legal counsel, constituent notifications, and credit monitoring. Their insureds—more than 100 nonprofit and educational organizations across 35 states and the District of Columbia—used Blackbaud’s software to manage donor…

They include certain promotions and a new underwriting chief Source link

Lok-N-Logs, Inc., which owns a warehouse in the Village of Sherburne, Chenango County, filed a claim with Leatherstocking Cooperative Insurance Company after copper and brass were stolen from the building’s electrical and plumbing systems during a break-in in April 2020. Leatherstocking denied the claim, invoking policy exclusions that bar coverage for vandalism when a property…

Total assets at the end of 2024 stood at $48.16 billion, up from $46.74 billion a year earlier. Surplus rose to $4.3 billion from $3.3 billion. Penn Mutual reported paying $245.8 million in policyholder dividends in 2024, up from $188.7 million in 2023. For 2025, the company approved a $265 million dividend, which it said…

In response, Naymola filed a Rule 202 petition seeking pre-suit depositions of BRIC, BNIC, Cusack, and an unnamed individual (“John Doe”) to investigate potential tort claims arising from how the settlement agreements were obtained. He argued that if the releases are ultimately deemed unenforceable, he may have viable claims against Berkley and its representatives. The…

Legal professionals are assessing the insurance implications of trade-related disruptions. According to Pillsbury Law’s Jeff Kiburtz and Lisseth Ochoa-Chavarria, several lines of coverage may be affected, including political risk, directors and officers liability, builder’s risk, subcontractor default, and marine insurance. Although tariffs do not cause physical damage, the financial and operational fallout may lead to…