Insurance
UN Secures Insurance Coverage to Salvage Rusting Oil Tanker off Coast of Yemen
The United Nations Development Programme (UNDP) announced the successful binding of insurance coverage for the mission coordinated by the United Nations to prevent over a million barrels of oil spilling into the Red Sea. Securing insurance is a pivotal milestone …
Read More The Dangerous $140M Mission to Defuse an Oil Tanker Ready to Explode
An operation is finally underway to transfer the oil from a stricken tanker off the coast of Yemen that maritime salvage experts have called a “ticking time bomb.” The decrepit vessel has been lying idle for years with more than …
Read More Zurich Insurance Eyes Buying $400M Stake in General Insurance Arm of India’s Kotak
Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance …
Read More Insurance Costs Rapidly Rising for Rental Properties: S&P
The recent upticks in the frequency and severity of weather events has also affected insurance premiums for rental properties. According to S&P Global Ratings, insurance is an increasing percentage of total expenses for rental properties and the trend is expected …
Read More Usage-Based Insurance Surges as Customers Dissatisfied With Auto Insurance
About one third of auto insurance customers in the U.S. reported a rate increase in the past year, leading to a growing number moving to usage-based insurance (UBI). This has led to the largest decline in customer satisfaction in 20 …
Read More Jewelry Group Reports Highest Number of Crimes Ever Reported
The number of crimes against jewelers jumped to 2,211 in 2022, the largest number ever recorded, according to an annual crime report by the Jeweler’s Security Alliance. The total was 31.1% above the 1,687 crimes reported in 2021. “Crime trends …
Read More Florida Gov. Signs One Last Bill, Allowing Higher Deductibles, More Storm Models
One of the last property insurance-related bills to come out of the 2023 regular session of the Florida Legislature was signed into law this week, potentially saving insurers some cash, giving them some flexibility on rate requests, and raising hurricane …
Read More Washington Workshop to Address Increased Auto Insurance Complaints
Washington Insurance Commissioner Mike Kreidler is holding a workshop to hear from consumers, insurers and other parties on the reasons about auto and homeowners insurance issues being reported “at a record pace.” The Office of the Insurance Commissioner reported a …
Read More Erie Canal Tourist Boat Capsizing Takes 1 Life, Injures 11
Tuesday morning in Lockport, New York at approximately 11:20 a.m. a boat capsized inside a cave along the Erie Canal with 28 visitors and one staff member aboard. Lockport Mayor Michelle Roman reported that one person died and 11 people …
Read More People Moves: Graham-Rogers Promotes Owens and Walker
Graham-Rogers Insurance Promotes Owens and Walker in SLS Roles Graham-Rogers Insurance has promoted Jana Owens to operations lead with standard lines services (SLS). Owens comes from a background in standard lines services. Before joining the team, she adjusted workers’ compensation …
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