INSURANCE NEWS
Viewpoint: The ‘Must-Have’ Features of an Insurance Agency Website
There are several must-have elements that go into creating a strong, easy-to-use insurance agency website that communicates your brand’s identity and value. Your insurance agency’s website serves as the public “face” of your business. With this in mind, to instill …
Twitter Owes Ex-Employees $500M in Severance, Lawsuit Claims
Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company. Courtney McMillian, who oversaw …
Severe Weather Causes First-Half 2023 Losses of at Least $1B in Seven States: Report
Seven states experienced at least $1 billion in total insured severe weather loss for the first half of 2023, according to an update from BMS Group. Texas led all states with insured severe weather loss of $7.2 billion while Illinois, …
Repricing Is Not Reunderwriting
A rising tide carries all boats. That rings true currently in commercial insurance. Carriers have broadly brushed aside concerns about geopolitics, inflation and natural catastrophes and reported positive year-to-date underwriting results. Leaders talk optimistically of the pivot to growth and …
EU Widens Probe of Suicide Risks Linked to Weight-Loss Drugs
The European Union’s drug regulator expanded its investigation into a possible risk of suicidal thoughts associated with a new class of weight-loss medicines and a separate analysis found that most patients stopped taking the medications after a year. The European …
Insurers Sue Energy Corporation Blamed for Helping Start Colorado Wildfire
Dozens of insurance companies are suing Minneapolis-based Xcel Energy to recoup money paid out to homes and businesses lost in Colorado`s most destructive wildfire in 2021. The lawsuit was filed Thursday, a few weeks after investigators announced that a sparking …
Marsh McLennan Acquires Illinois-Based Trideo Systems
-Marsh McLennan Agency, a subsidiary of Marsh, today announced the acquisition of Arlington Heights, Illinois-based Trideo Systems, a risk management information system (RMIS) provider for health care organizations. Terms of the acquisition were not disclosed. Founded in 2008, Trideo’s RMIS …
TWIA Committee Recommends 5% Increase in 2024 Residential Rates, 8% for Commercial
The Texas Windstorm Insurance Association Actuarial & Underwriting Committee met Tuesday, July 11 and voted to recommend increasing rates for residential policies by 5% and commercial policies by 8% for 2024. The TWIA Board of Directors will vote to approve …
Lack of Heat Safety Standards Puts Texas Workers at Risk, as Heat-Related Deaths Continue to Rise
Maynor Estuardo Álvarez used to stand the Texas heat, but not anymore. Something changed in his body last summer while working as a painter in an apartment in Houston. It was the afternoon, the temperature had surpassed 100 degrees and …
Railroad Industry Sues to Block Limit on Crew Sizes That Ohio Imposed After Derailment
COLUMBUS, Ohio (AP) – The railroad industry has sued to block a new minimum crew- size requirement that Ohio imposed after a fiery train derailment in East Palestine in February. The new rule was part of a $13.5 billion state …
Chinese Hackers Accessed Government Emails, Microsoft Says
Chinese state-linked hackers have secretly accessed email accounts at around 25 organizations including government agencies in a sweeping cyberespionage campaign, Microsoft said on Wednesday. In an interview with ABC television, White House national security adviser Jake Sullivan said the United …
Wisconsin Wildfire Consumes Nearly 1,000 aAcres, Forces Evacuations
MADISON, Wis. (AP) __ A wildfire in central Wisconsin has consumed almost 1000 acres (405 hectares) and forced evacuations of scores of properties. State Department of Natural Resources officials said at a news conference Tuesday that the fire began Monday …