Monthly Archives: <span>May 2024</span>

Power of the Mastermind: Part One

What is a mastermind group? A mastermind group is simply an alliance of two or more individuals dedicating themselves to a specific goal. It is a way to get all the knowledge, expertise and connections needed to achieve a goal. …

Business Moves

National Strategic Risk Solutions, Garnet Captive Insurance Services Strategic Risk Solutions (SRS) reported it has agreed to acquire Garnet Captive Insurance Services, a Philadelphia, Pennsylvania, firm that partners with select retail brokers to educate and implement group captive solutions for …

NCCI’s Chief Actuary Discusses Workers’ Comp Profits, Safety and Future

The workers’ compensation system overall is healthy and strong. The sector has seen long-term frequency declines for multiple decades with moderate severity of claims costs for at least the past decade. That’s according to NCCI’s chief actuary, Donna Glenn, who …

Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023

The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings analysis. For standalone cyber coverage, the direct incurred …

Medical Marijuana Law Does Not Impair Employers’ Right to Drug-Free Workplace

A Connecticut employer has the right to terminate an employee who is impaired by medical marijuana in the workplace. The Connecticut Appellate Court on March 19 upheld the dismissal of a lawsuit brought against a nonprofit pre-school by a teaching …

Revising the New Normal: Exploring the Future of Work for the Insurance Agent

Senator Bernie Sanders of Vermont, socialist and one-time presidential candidate, has been making headlines recently suggesting that government should mandate 32-hour work weeks for the same pay as the traditional 40-hour week. Naturally, this has been roundly criticized by many, …

Texas Home Manufacturers to Pay $135K to Settle Race Discrimination Suit

Cavco Industries, Inc.; Palm Harbor Homes, Inc.; and Palm Harbor Villages, Inc., which manufacture and sell manufactured homes in Waco, Texas, will pay $135,000 to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the …

Oklahoma Sues Gas Companies for Alleged Fraud During Winter Storm Uri

Two Texas-based natural gas companies are being sued by Oklahoma, which alleges they fraudulently reduced gas supplies to send prices soaring during Winter Storm Uri making huge profits while thousands shivered across the state. The lawsuits are Oklahoma’s first against …

Extreme Weather Is Driving More US Power Outages, Studies Show

For decades, residents of eastern Queens in New York City have complained that they’re more likely to lose power when extreme weather hits, even as lights in other parts of the city stay on. A new study that looks at …

Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court

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 …