Workers’ compensation carriers’ ability to retain profitable accounts and maintain market share could be challenged due to declining rates and growing competition in the U.S., according to an A.M. Best report. Rate decreases across the United States have led to …
New federal rules on overtime pay, which began January 1, change for the first time since 2004 the threshold for who is entitled to overtime pay — and who is not. The new rule raises the income threshold that employees …
The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by brokers Guy Carpenter and Willis Re. Indeed, the market demonstrated …
The insurance industry is so intertwined into the economy and society, that just about any noticeable change in either will have some impact for the insurance industry. That is why it is imperative for agency owners to watch and learn …
Consumers are embracing digital purchasing habits, and that is creating new challenges for independent insurance agencies. At first these were only seen on the personal lines side of the business — in the forms of heightened customer expectations and increased …
Frank Winston Crum Insurance FWCI has an enterprise philosophy of philanthropy with a primary focus on helping people who cannot help themselves. FWCI has supported the Tampa Bay community for more than a decade with a commitment to helping the …
Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2018, total DPW for all P/C insurers aggregately increased approximately 4% over 2017, an increase of $33.3 billion. For year-end 2018, nearly $670 billion of …
State insurance officials say Jefferson City, Missouri, residents made more than $170 million in insurance claims after a tornado hit the city on May 22. Missouri Department of Insurance data shows insurers paid out more than $122 million for those …
A survey of 41 major corporations by broker Willis Towers Watson found that 61% believe political risk levels increased in 2019 while 68% have actually suffered a political risk loss. Disruption of international trade was considered the most significant risk …
Michigan drivers who want unlimited medical coverage for crash injuries will pay $100 per vehicle starting in July, which will be 55% less than the record high $220 annual fee they currently pay. The Michigan Catastrophic Claims Association, a state-created …
