Flood, fire, and drought fueled by climate change could take a massive bite out of the U.S. federal budget per year by the end of the century, the White House said in its first ever such assessment, released in early …
One of the biggest challenges for independent agency owners today is recruiting and retaining talent. A variety of surveys taken pre-pandemic indicated that most of the industry workforce would be age-eligible for retirement within this decade. Over the last several …
It’s a crime that siphons untold billions from the economy — but many people have never heard of it. Business Email Compromise scams involve criminals hacking into email accounts, pretending to be someone they’re not and fooling victims into sending …
Like most insurance businesses, Topa Insurance Co. (TIC) shifted to a remote workforce out of necessity in March 2020. With continued success in this new work environment, TIC quickly decided to make the remote workforce move a permanent one. Since …
Chubb’s 2021 annual report, published online in April 2022, contains more than the details of the best year in the company’s history. As in past years, the chief executive commented on world events in his letter to shareholders. Starting his …
The U.S. Supreme Court on April 4 eliminated one of the hurdles facing individuals looking to sue for being falsely accused of crimes. In Thompson v. Clark, a majority (6-3) of the high court not only acknowledged a claim for …
Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported in March, citing the impact of social inflation on rising claims and defense costs. Separately, …
During the first quarter 2022 buyers of commercial insurance saw average rate increases across all lines of 6%, according to MarketScout’s Market Barometer. The average increase remained consistent compared to the average increase of 5.8% observed in the fourth quarter …
A state appeals court ruled that a Southern California hospital can be held responsible for sexual abuse by an employee, upholding a jury’s damage award of $6.75 million to two elderly patients who were abused at a psychiatric hospital. The …
The first lawsuit filed in connection with a wildfire that destroyed over 1,000 homes and other buildings in suburban Denver claims that sparks from a power line started December’s blaze. The lawsuit filed against Xcel Energy says that its power …
