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Contractors are bleeding and insurance won’t save them, warns industry professional
Forget the 80s hard market or the 2008 crash. Today’s insurance landscape is rewriting the rules and not in contractors’ favor Source link
Heritage Insurance sees net income double
For the first quarter, Heritage reported a net income of $30.5 million, or $0.99 per diluted share, compared to $14.2 million, or $0.47 per diluted share, in the same period last year. Gross premiums earned in the quarter totaled $353.8 million, a 3.6% increase from the previous year’s $341.4 million. Source link
Brown & Brown on shielding employees from financial stress
Other benefits, such as financial education, salary advances, and employee discount programs, contribute to overall financial security. Flexible work arrangements, while not a direct financial benefit, can also have a significant financial impact by reducing costs related to commuting, childcare, and other expenses. Source link
Tariffs threaten to push insurance costs higher for US households
Matt Brannon, who authored the report, said tariffs affecting imports from countries such as China, Canada, Mexico, Japan, and Vietnam will disrupt the construction supply chain and add to repair costs. He noted a similar outcome during the COVID-19 pandemic, when material shortages and price hikes also contributed to higher insurance rates. Source link
Kentucky expands insurance regulatory sandbox, adds protections for financial contracts amid insolve
The sandbox’s entry requirements remain stringent. Applicants must submit a detailed technical and business plan, a $750 filing fee, demonstrate at least $25,000 in available funds, and provide extensive disclosures on financial backing and executive leadership. Crucially, innovations must offer consumer protections and pose “no unreasonable risk of consumer harm.” Source link
The world’s polluted air – is it a risk for insurers?
Workers’ compensation, health and life can be impacted Source link