The Federal Bureau of Investigation conservatively estimates that cargo theft costs about $18 billion a year, while the General Accounting Office pegs the number between $20 billion and $60 billion a year. This figure includes the cost of filing, investigating, …
Stock Prices: In terms of stock prices for property and casualty brokers, the year was mixed. With its stock up 54 percent, Aon experienced a remarkable year. However, Marsh and McLennan’s woes continued as its stock traded down 19 percent. …
Harvesting value: revaluation revolution comes to farm lines Bringing changes to valuations has been complicated because farm are such unique collections of structures Is the valuation revolution coming to farm insurance? For several years now, residential and commercial property insurance …
Although the Carmack Amendment provides that the cargo owner’s sole remedy is for “actual loss or injury to the property,” the courts have consistently held that consequential or special damages are included. How courts are viewing motor carrier cargo disputes …
Producers advised to work closely with a wholesaler or carrier that knows transportation contracts Transportation insurance and, more specifically, motor truck cargo insurance are not fields where an agent should dabble without some expertise. The specific nuances in this class …
The Congressional Budget Office is projecting a government cost of $1.5 billion through the next 10 years under the legislation extending the Terrorism Risk Insurance Act of 2005 (S. 467). However, despite weighing averages reflecting the probabilities of various outcomes, …
Ultimately “all the King’s horses and all the King’s men” couldn’t put Kinnect together again. The King’s men in this case being the management of Lloyd’s, who have finally thrown in the towel on the London market’s highly touted information …
It seems that every risk today has a big exposure, regardless of size or industry type. Some popular litigation targets include product liability, personal injury claims, false advertising and, most frequently, commercial auto. Consumer products, contractors and businesses with large …
Agents new to the transportation insurance field must be careful of exclusions-especially when it comes to motor truck cargo. This frequently arises where an agent is switching coverage from one carrier to the next. Maybe the agent is taking a …
Anticipating and assessing risk, along with defining and assigning value to units of exposure, are basic components of an insurance underwriter’s job. Challenging as those tasks are when examining well-known exposures, assessing risk becomes doubly daunting when faced with previously …
