INSURANCE NEWS
Electric Vehicles Cost Twice as Much to Insure as Fuel-Burning Cars in UK
British drivers have to fork out twice as much to insure electric vehicles as they do for combustion-engine models, adding to hurdles to make the switch to zero-emission cars. The average insurance premium for EVs jumped to £1,344 ($1,700) at …
Compared to Prior Quarter, All Commercial Lines Saw Renewal Rate Up in Q4: Ivans
Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last three months of 2023, compared to the prior …
Alliant, BRP Announce People Moves in Southeast
Major insurance groups have elevated team members to top positions around the South. Tampa-based BRP Group, an independent insurance distribution firm, has named Dan Galbraith and Jim Roche to be co-presidents of the company. Galbraith, who has been chief operating …
Florida Condos Say They Can’t Get Coverage. House Bill Would Let Citizens Step In
When a Florida Senate committee last week approved a bill that would raise the policy limit on homes that can be written by the state-backed Citizens Property Insurance Corp., state Sen. Doug Broxson said the change was needed because of …
California Reaches $1M Settlement with Cheesecake Factory, Janitorial Contractors
The California Labor Commissioner’s Office reached a $1 million settlement against the Cheesecake Factory Restaurants Inc. and two janitorial contractors for reportedly underpaying 589 janitorial workers. The investigation began in 2016 after receiving complaints of possible wage and hour violations …
Crew Member Fell Asleep on Trawler That Crashed on Maine Rocks, Owner Says
A crew member fell asleep with a 55-foot trawler operating on autopilot before it crashed onto rocks on the Maine coast last weekend, the fishing vessel’s owner said. The four crew members aboard the Tara Lynn II were rescued. But …
New Jersey Expands Workers’ Compensation for First Responders
New Jersey Gov. Phil Murphy recently signed into law a change in workers’ compensation coverage for volunteer and professional public safety and law enforcement personnel. The new law (A-5909/S-4267) amends current workers’ compensation law to add that a response to …
ALKEME Acquires Texas-Based Mogul Wealth Strategies
ALKEME announced the acquisition of Mogul Wealth Strategies, a multi-line independent insurance agency and wealth management firm located in Frisco, Texas and serving the entire United States. Founded in 1996, Mogul Wealth Strategies has been serving businesses and high-net-worth individuals …
Grand Jury Indicts Baldwin in Fatal Shooting of Cinematographer on New Mexico Set
A grand jury indicted Alec Baldwin on an involuntary manslaughter charge in a 2021 fatal shooting during a rehearsal on a movie set in New Mexico, reviving a dormant case against the actor. Special prosecutors brought the case before a …
Inszone Acquires Kansas’ American Heritage Agency
Inszone Insurance Services announced the acquisition of American Heritage Agency, Inc., a well-established insurance agency that has been serving the Hays community in Kansas since 1999. This marks Inszone’s entry into the Kansas market. American Heritage Agency, Inc. has been …
California May Face Major Flooding From Jan. 30: Weather Watch
The odds are rising that California and the West will be struck by a plume of moisture known as an atmospheric river from Jan. 30 to Feb. 3, the US Climate Prediction Center said in a social media post. The …
Young Risk Professionals Expands National Leadership Team with New Board Members
As Young Risk Professionals looks towards continued growth in 2024, the networking organization has announced the appointment of Taylor Jones, Michelle Khajeh, and Holly Ragsdale as board members to the national leadership team. These elections reflect the organization’s commitment to …