Industry News

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CoreLogic Says Hurricane Nate Losses Could Total $1.35 Billion

Oct 20, 2017 Hurricane Nate caused an estimated $650 million to $1.35 billion in insured and uninsured losses after striking the central Gulf coast in early October...

White House Asks Court to Reject Bid to Force Continued CSR Payments

Oct 20, 2017 Lawyers for the Trump administration urged a federal judge to reject a request by 19 state attorneys general to immediately restore funding to...

Hannover Re CEO: Large Hurricane Losses Could Spark 40%-50% Rate Hikes for Florida Property

Oct 20, 2017 Hannover Re’s profit target is threatened by catastrophes that could have “very, very different consequences for the...

Two Montana Health Insurers’ Rates Spike in Wake of Trump Order Ending CSR Funds

Oct 20, 2017 Revised average individual health insurance rates will increase significantly for two of the three companies in Montana’s health...

Business Insurance

Whole Foods says hacking incident resolved

Oct 20, 2017 Amazon.com Inc.'s Whole Foods Market said on Friday it had replaced affected point-of-sale systems at venues located within some stores where...

Wells Fargo faulted by US regulator for auto insurance abuses

Oct 20, 2017 Wells Fargo & Co. wrongly pushed auto insurance on customers who did not need it and took too long to...

Reinsurance pricing trends still unclear as renewals near

Oct 20, 2017 Reinsurance renewal discussions remained in flux this week as reinsurers, brokers and cedents continue to...

No duty to defend for Zurich unit in pollution case

Oct 20, 2017 A Zurich Insurance Group unit is not obligated to provide defense costs coverage to a Las Vegas tire and auto retailer under...

Insurance Journal

Admitted Carriers, CanaBOP Coming to California’s Cannabis Industry

Oct 20, 2017 The first admitted insurance carrier has filed to provide coverage to California’s legal cannabis industry and several more carriers have stated their intent...

Swiss Re Adds Management Liability Coverage for Non-Profits, Private Companies

Oct 20, 2017 Swiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability...

Brown & Brown Acquires Louisiana Employee Benefits Firm

Oct 20, 2017 Brown & Brown of Louisiana LLC, a subsidiary of Florida-based Brown & Brown Inc., has acquired substantially all of the assets of Lapeyre, Staples &...

Texas Windstorm Insurance Association Request to Raise Liability Limits Disapproved

Oct 20, 2017 Texas Insurance Commissioner Kent Sullivan has declined to approve a request by the Texas Windstorm Insurance Association to raise the...

Property Casualty 360

Northern California wine industry picks up pieces after wildfires

Oct 20, 2017 The numbers are numbing: more than 5,700 homes, businesses, and wineries destroyed or damaged, more than 200,000 acres burned...

California wildfires to cost insurers over $4.6 billion, Moody’s reports

Oct 20, 2017 The wildfires in northern California are expected to be among the costliest ever for P&C insurers, according to a...

Bundling home & auto insurance could save up to $322 per year, new study says

Oct 20, 2017 A new study by insuranceQuotes reveals in which states policyholders save the most by bundling their home,...

One month after Maria, a crisis still rages in rural Puerto Rico

Oct 20, 2017 Almost 80% of residents and private businesses — not just in the rural mountains, but across the island — are still without...

Claims Journal

Word Choice in Claims Letters, Part 1

Oct 20, 2017 The following bullets point out random errors in word choice. You may not lose a client because you make a poor word choice, but you’re not helping the relationship along either. Here...

NICB: Record Number of Vehicles Damaged by Recent Hurricanes

Oct 20, 2017 Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. Some 23,000 now await processing and retitling to be auctioned off for parts...

NRA’s Latest Coverage Called ‘Murder Insurance’

Oct 20, 2017 The National Rifle Association is offering insurance for people who shoot someone, stirring criticism from gun-control advocates who say it could foster more violence and give gun...

Lawyers Hunt for California Fires’ Ground Zero to Pursue PG&E

Oct 20, 2017 While Northern California continues to burn, lawyers are already combing through the destruction to make a case that PG&E Corp. is to blame. They aren’t...