Tag: policy

April 6, 2021

On a recent insurance social media page, an agent was looking for a market for a $2 million home that had experienced a $540,000 plumbing leak claim and the carrier had nonrenewed. A few weeks earlier, another agent had been […]

April 6, 2021

Oklahoma has reached a $25 million settlement with Farmers Insurance over the company’s handling of earthquake claims, state officials say. Oklahoma Attorney General Mike Hunter and Insurance Commissioner Glen Mulready say an investigation revealed that Farmers denied or failed to […]

April 5, 2021

First-quarter mergers and acquisitions involving U.S. and Bermuda-based insurance industry companies produced an aggregate deal value of $21.16 billion, according to a report Monday from S&P Global Market Intelligence. This year’s first-quarter tally tops full-year deal totals for 2019 and […]

March 12, 2021

An insurer that paid defense costs for a policyholder involved in a liability dispute can recoup those costs if it is later determined that it did not owe a duty to defend the case, a divided Nevada Supreme Court ruled […]

March 5, 2021

Specialist Risk Group (SRG), a London-based insurance broker, has agreed to acquire CLS Risk Solutions (CLS RS), subject to regulatory approval. Financial details of the acquisition — its fourth so far this year — were not disclosed. Established in 2010, […]

March 5, 2021

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. winter-stormCurrently, estimates […]

March 4, 2021

A trade group representing insurance professionals has warned that a proposed US House bill could reclassify insurance agents, brokers, and even financial advisors as employees, instead of independent contractors. The National Association of Insurance and Financial Advisors (NAIFA) is requesting […]

March 3, 2021

Analysts at rating agency S&P global ratings have noted that reinsurers feel they haven’t fully benefitted from their results, despite the global reinsurance pricing gains from the January renewals. S&P Global RatingsAlthough this year’s renewal season started with high hopes, […]

February 26, 2021

Chubb has announced the launch of a new travel insurance partnership with Travix, a global online travel company. The collaboration will offer Chubb’s travel insurance plans to customers using Travix websites to make their travel arrangements. Customers can arrange for […]

February 26, 2021

A bill filed in the Illinois General Assembly would transfer the responsibilities for investigating workers’ compensation fraud to the state insurance department. Under HB 2947, the pending business of the Illinois Workers’ Compensation Commission’s Insurance Compliance Division would be transferred […]