California Insurance Commissioner Ricardo Lara is at the forefront of shaping how state insurance regulators all over the U.S. will deal with the legal cannabis market. Lara is not only the chief insurance regulator of the nation’s largest cannabis market …
Regardless of agency size, sometimes it is difficult to get access to all the markets that might be needed for the agency’s clients. Most standard markets will have some sort of volume requirement and some might limit the number of …
The NAIC’S Cannabis Insurance Working Group in a recently approved white paper identified some of the most pressing insurance needs of cannabis businesses. Insurance most frequently needed by the cannabis industry includes: Automobile, including Distribution (auto and cargo) Commercial General …
The future cannot come too soon for commercial auto. Despite growing premiums, the commercial auto line hasn’t turned an underwriting profit for the past nine years as both the number and cost of claims exceeded expectations. Tech companies are pitching …
Although workers’ compensation results remain strong — and the line continues to outperform all other commercial insurance lines — worries about continued soft pricing and loss reserve levels for workers’ comp specialists prompted a rating agency warning recently. “As rate …
The task of insuring nonprofit organizations is a complex one and agents, brokers, underwriters and carrier representatives say that in order to fully serve those entities that serve our communities in myriad ways, it’s vital to take the time to …
Digital transformation empowers consumers to be more informed and independent, and equips insurers with the tools to develop new tailored products and services and refine existing ones, according to Swiss Re’s latest sigma report. This is leading to the development …
1. January Nationwide Acquires Liability Insurance Program Manager E-Risk Services: Nationwide acquired a New Jersey privately held program manager specializing in management liability lines. Nationwide said E-Risk will enhance its own excess and surplus lines offerings for small and medium-sized …
A multi-billion dollar boom in petrochemical plants proposed along the U.S. Gulf Coast could pump as much greenhouse gas into the air as 131 coal-fired power plants by 2030, according to a study released by University of Texas researchers. The …
Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout after a qualifying event and protect against unpredictable but …
