Travelers unit faces lawsuit for denying hail loss claim

For example, if someone with a homeowners policy liability limit of $300,000 is found responsible for $1 million in damages due to an accident on their property, their homeowners’ policy might cover part of the damages, but the remaining $700,000 could fall on the policyholder unless umbrella coverage is in place. Mercury’s umbrella insurance helps…

Factors contributing to premium increases,  Transparency options,  Definitions of “affordability” in rate-setting,  Methodologies for incorporating affordability into pricing, and  The financial condition of private passenger auto insurers and potential responses to excess profits.  The workgroup will include members of the state legislature, the Insurance Commissioner, MAIF’s Executive Director, and…

A long-running workers’ comp case tests how far insurers can go in compelling medical exams Source link

Effective July 2024, Kansas also increased workers’ compensation benefits for injured or deceased workers. The total death benefit rose from $300,000 to $500,000, and the cap for permanent total disability increased from $155,000 to $400,000. This legislation, the first update since 2011, aims to create a more equitable system. Source link

The case, pending in the Southern District of New York, pits Newmont Corporation and its subsidiary, Newmont Ghana Gold Limited, against several major insurance carriers, including American International Group UK Limited (AIG UK), Munich Re, Swiss Re, Zurich American, Starr International, and several Lloyd’s underwriters. Newmont is seeking coverage under a suite of insurance policies…

“We have delivered good growth, solid underwriting margins, and a strong balance sheet – a combination that continues to support excellent returns and more predictable outcomes. These are important indicators that our business is working – for customers, for shareholders, and for our people,” he said. Source link