The captive craze is testing broker credibility, said industry veteran

Despite its limitations, parametric coverage appeals for its speed, objectivity, and flexibility. Payouts are faster, disputes are rare, and policies can be tailored to specific risks – whether it’s excessive rainfall, drought, or rising river levels.  Source link

The case began when Weston and Carrie Twigg hired Rainier Pacific Development LLC in 2011 to build a home on a sloped property in Oregon. After moving in, the Twiggs identified multiple construction defects, including a garage floor that cracked and sloped inward, directing water toward the house. A settlement followed. Under a “Repair Agreement,”…

Net premiums written drop back as firm reports under IFRS 17 Source link

But the appellate panel disagreed. Writing for the court, Judge Noah P. Hood explained that the term “accident” wasn’t defined in the policy, so Michigan law supplies a default definition: “an undesigned contingency, a happening by chance, something not naturally to be expected.” Importantly, the court emphasized that whether an incident qualifies as an accident…

Although SB 79 exempts these plans from certain state and federal health insurance laws, it requires coverage for ambulance services, hospitalizations, emergency services, and lab work. Additionally, the plans must have an annual coverage limit of at least $2 million, and applicants must be members of the organization for at least 30 days before qualifying….

An insurer’s delayed settlement offer could cost it millions after a deadly parking lot shooting. Find out why the Eleventh Circuit says a jury should decide the outcome Source link