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Senate Bill 1643 would mandate regulatory approval for any proposed rate adjustment, whether an increase or decrease, exceeding 10%. If the commissioner does not act within 30 days, the rate would take effect automatically, unless it involves an increase of 10% or more.
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[ad_1] Elsewhere, Markel launched FintechRisk+, an insurance policy tailored for fintech companies. This policy offers comprehensive coverage, including financial services and technology liability, directors and officers (D&O) liability, theft, and cyber protection, with limits up to $20 million. [ad_2] Source link
[ad_1] As small business owners, staying updated with the latest regulations and compliance standards is crucial for the smooth operation of your business. A significant update that demands your attention is the change in the federal independent contractor test by the U.S. Department of Labor (DOL). Effective March 11, 2024, this new rule has far-reaching…
[ad_1] Rate relief and added capacity are giving insureds a break… but for how long? [ad_2] Source link
[ad_1] What’s the reasoning behind the move? [ad_2] Source link
[ad_1] Regressive actions worsening the nat-cat protection gap While governments, companies, and individuals are taking action on the protection gap, risk management has been inconsistent, Mantero said. He cited high population growth rates in catastrophe-prone areas in the United States, such as Florida, where Hurricane Ian dealt significant inland flooding and damage to communities in…
[ad_1] Jon Ward, APCIA’s department vice president of public affairs, emphasized the industry’s commitment to assisting policyholders, stating, “When disaster strikes, insurers’ overwhelming priority is to help their customers rebuild and restore their property.” [ad_2] Source link
