Why progress matters more than perfection
In a risk-averse industry, Emmy-winning journalist Molly Grantham proves that the biggest gamble isn’t imperfection—it’s never taking the leap
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Falvey Insurance Group general counsel steps down after 26 years
During his tenure, Falvey established and led the company’s legal department, overseeing matters related to underwriting, loss prevention, claims recoveries, and regulatory compliance. He also developed Falvey’s legal internship program, supporting the firm’s engagement with legal education and talent development. Source link
Why LIC’s Jeevan Utsav(Plan 871) is More Than Just Life Insurance
Description: ‘Sum Assured on Death’ plus accrued Guaranteed Additions, payable if the policy is in force. In LIC’s Jeevan Utsav Plan 871, the “Sum Assured on Death” is a crucial component of the death benefit. It’s essentially the guaranteed amount paid to the beneficiaries if the insured person passes away. This sum is the higher…
Litigation, cyber risks dominate D&O insurance decision: Willis report
For the first time since 2018, civil litigation and third-party claims re-emerged among the top seven concerns, with 63% of respondents identifying them as significant D&O risks. Smaller companies, with revenues under $50 million, and mid-sized firms generating between $1 billion and $5 billion, were more likely to cite litigation as a major issue. Source…
New York to toughen up laws to make up for weakened CFPB
New bill aimed at insurers, others launched by AG Letitia James Source link
Judge dismisses ERISA class action over Wells Fargo’s prescription drug benefit practices
The plaintiffs—Sergio Navarro, Theresa Gamage, Dayle Bulla, and Jane Kinsella—are former Wells Fargo employees and former participants in the Wells Fargo & Company Health Plan (“the Plan”), a self-funded employee welfare benefit plan governed by ERISA. They sued on behalf of themselves, other similarly situated participants, and the Plan itself. Source link
“Was it hot enough?” – The rise and risk of parametric insurance for weather-exposed events
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