US P/C insurers get ratings boost

For Hurricane Milton, insurers closed 81.7% of the 343,789 total claims filed across multiple lines, including personal and commercial property, auto, private flood, and business interruption, as of February 28. Of these, 35,043 claims remained open without payment, while 27,894 were still open with payment. Source link

It may impact home insurance pricing and coverage availability Source link

“We designed IB+ Data Hub to be more than just a repository of information—it’s a strategic resource for professionals who need to stay ahead of the curve,” said Claire Preen, director of intelligence at Insurance Business. “Whether you’re in underwriting, legal, compliance, or executive strategy, this is about enabling action based on real insight.” Source…

The dispute stemmed from an April 2013 explosion at Exxon’s Beaumont, Texas refinery during a maintenance project. Exxon had contracted Brock Services, Ltd. to provide scaffolding services. Under the service agreement, Brock was identified as an independent contractor and was required to obtain insurance coverage, including workers’ compensation, employer’s liability, and commercial general liability (CGL)…

Successor has been with the company since 2008 Source link

As fears of deportation ripple through the construction sector, insurance professionals warn that uncertainty is already shifting coverage terms Source link