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Under the proposed amendment to Minnesota Statutes 2024, section 256B.0571, subdivision 6, partnership status would be extended to eligible policies that meet criteria in sections 62S.23, subdivision 1, paragraph (b), and 62S.312, even if issued before July 2015. It would also apply to policies exchanged after July 1, 2006, under section 62S.24, subdivision 8.  Source…

Montana, the state with the fewest P&C insurance agents in the country, boasts the highest estimated premium per agent, according to new data from IB+. With just 917 P&C agents serving the state’s vast insurance needs, the average premium per agent in 2024 stood at approximately $3.6 million – topping all 50 states. Source link

The post Ultimate Guide to LIC’s Smart Pension Plan 879 – Features & Benefits for a Secure Future appeared first on Insurance Funda. Source link

3. Discovery sanctions Chenevert also sought attorneys’ fees and costs as sanctions, arguing that Allstate’s discovery objections were improper. However, under Rule 37 of the Federal Rules of Civil Procedure, Whitehurst declined to impose sanctions, noting that while the court partially overruled Allstate’s objections, there was no clear evidence of bad faith in the discovery…

Intact Financial Corp. reported an estimated C$244 million (US$173.2 million) in net, pretax catastrophe losses for the first quarter of the year, driven by a series of weather-related events across Canada, the United Kingdom, Ireland, and the United States. Source link

Industry veterans take on new roles amid shifting market needs Source link