When contractors get sued, sometimes agents get caught in the middle Construction is an inherently dangerous activity. Hundreds if not millions of dollars are at stake with each project, and if something goes wrong, contractors often look to their insurance …
Much to many insurance companies’ dismay, Washington voters approved Referendum 67 yesterday, with 520,667 or 57 percent of voters in favor of the initiative to allow insureds to collect triple damages if their insurer unreasonably denies a claim or violates …
California’s Department of Insurance held hearings yesterday on Allstate Insurance Co.’s auto rates in San Francisco. The consumer group Foundation for Taxpayer and Consumer Rights argued that the company is overcharging drivers $300 million per year, and that it should …
The market for management liability coverages is soft. Premiums are down, which means revenues are down. Yet there still are tremendous opportunities for proactive agents and brokers to sell the coverages, according to Kirk Denebeim, senior vice president for Socius …
When catastrophes strike, the insurance industry often suffers. In addition to suffering financial losses from having to manage claims, those in the industry also seem to suffer in the public’s eye. Mainstream media has an exceptional ability in finding disgruntled …
An magnitude 5.6 earthquake struck the San Francisco Bay Area last night, around 8 p.m., about 9 miles northeast of San Jose, according to the U.S. Geological Survey Earthquake Hazards Program. Ten aftershocks were felt, the largest with a magnitude …
Using the latest information on current and forecast fire perimeters and observed wind speeds, catastrophe risk modeling company AIR Worldwide Corp. estimates insured losses from California wildfires will be at least 1.5 billion. As of press time, seven fires remained …
Many evacuees from the Southern California wildfires are being allowed to return to their homes, even while nine fires remain burning. According to the National Interagency Coordination Center, 416,511 acres have burned thus far, 197,970 from the Witch Fire in …
Insured loss figures from the Southern California wildfires seem to be creeping up from earlier reports, even while insurance industry analysts say it’s too early to tell the extent of the losses. According to National Interagency Coordination Center, 1,514 structures …
In anticipation of an onslaught of severe insurance claims resulting from the Southern California wildfires, state Insurance Commissioner Steve Poizner has issued an emergency declaration to help accelerate claims processing. “I am issuing a declaration which will expedite additional insurance …
