Multiple computer models from forecasting organizations across the globe have predicted a very active hurricane season starting next month, spelling trouble for Florida and much of the Eastern United States. The models aren’t wrong, said Phil Klotzbach, a senior research …
Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines. However, the workers’ compensation line remains the most profitable segment, with a combined …
The Federal Trade Commission’s recently approved ban on noncompete agreements likely won’t survive court challenges, but that doesn’t mean the ban won’t become a model for a number of state legislatures to follow in coming months. “We don’t see it …
The Florida Office of Å˽ðÁ«´«Ã½Ó³» Regulation in recent weeks has fined five property and casualty insurers, including Heritage Property & Casualty Å˽ðÁ«´«Ã½Ó³» Co., which was hit with a $1 million penalty for failing to properly handle hundreds of claims after …
The Florida Supreme Court has opened the door a little wider to wrongful death claims from people who weren’t married to victims at the time of injury, upsetting what defense lawyers said was a decades-old common-law practice. In Ripple vs. …
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don’t carry full replacement-value insurance coverage. The decision by Fannie and Freddie to …
An updated guideline from Fannie Mae, if it stands, could throw a wrench into the property-casualty insurance industry’s move toward actual cash value for more homeowners and condo coverage. A Fannie Mae spokesperson said the government-backed mortgage corporation, which supports …
Call it the effects of wage creep during the pandemic, along with a little bit of creep in the duration of benefits. Employers and insurers in Florida saw a 7% increase in total cost per workers’ compensation claim in 2022 …
Cracked steel columns are not “property damage,” but are building products that are not covered by a contractor’s general liability policy, the U.S. 7th Circuit Court of Appeals decided in an opinion that lets St. Paul and other insurers off …
After an investment research firm dropped a bombshell last month and sent shares of Globe Life Inc. plunging by 53%, the insurance company denied the allegations that officers had concealed fraud and sexual harassment issues. But this week, the City …
