Oregon employers will pay on average less for workers’ compensation coverage in 2021, the Oregon Department of Consumer and Business Services announced earlier this month. The decline in costs marks nine years of average decreases in the pure premium rate …
A Colorado city has agreed to pay $3 million to a woman with dementia who was roughly arrested by police last year after being suspected of shoplifting, money which her family said will pay for the around-the-clock care she has …
Many in the insurance space are blind to the fact that the Office of Foreign Assets Control (OFAC) is lurking in the shadows. A federal agency in the U.S. Department of Treasury responsible for the administration, implementation and enforcement of …
Agency partnerships and networks continue to grow in strength and numbers as independent agencies, large and small, look to these groups for greater market access, valuable services and the sharing of ideas that can take their agencies to the next …
Modeling firm AIR Worldwide updated its insured loss estimates for Hurricane Ida and now projects that Ida’s insured industry losses will range from $20 billion to $30 billion. The estimate includes inland flood impacts across the entirety of Ida’s track, …
Nearly 400,000 employees are expected to retire from the insurance industry workforce within the next few years, according to a recent report by AmTrust Financial, The Impact of the Aging Insurance Workforce. Senior leadership vacancies are the biggest challenge facing …
No one needs to be told how rough 2020 was. But perhaps organizations — agencies, brokerages, and insurers in particular — need a reminder on just how much their worlds have shifted for the better since the pandemic. That’s right …
Last year was a wild one for the energy sector. There were, of course, COVID-19 related issues. The sector also dealt with continuing pressure on insurer capacity for some energy sectors due to environmental concerns, oil prices taking a wild …
Developments in drone technology are often heralded as having the potential to change the landscape of business operations, most prominently in the consumer goods shipping sector. Yet, the development of federal regulation and guidance on the commercial use of drones …
Sometimes, in responding to coverage requests or loss exposure identification, we make decisions that may result in unintended (often bad) consequences. Too often, these decisions involve what I refer to as “premium games.” More on this later. To illustrate, one …
