New York Gov. Kathy Hochul vetoed a measure that would have expanded wrongful death benefits after her late bid for amendments was rejected by the sponsors of the bill. In vetoing the Grieving Families Act, Hochul called for more study …
Root Inc., the parent company of Root Insurance, has followed up its investigation into almost $10 million of unauthorized payments with a lawsuit against its former chief marketing officer. According to the suit, filed in U.S. District Court for the …
The Rhode Island Supreme Court for the first time has found the definition of pollution in a commercial policy ambiguous enough to justify vacating a lower court’s summary judgment in favor of the insurer. The insurer, Arbella Protection Insurance Co., …
On the heels of the lowest U.S. unemployment rate in 53 years, insurance agency employees across the nation reported the highest salary and compensation percentage increases in the history of Insurance Journal’s annual Agency Salary Survey. Agency employees who responded …
Climate change is contributing to increasingly intense natural catastrophes that leave larger and larger losses in their wake. What steps can the insurance industry take to prevent losses, protect clients, and ultimately create a safer world in the eye of …
Anyone who has read this column for the past four years, or earlier articles of mine, knows that I am passionate about my disdain for the proliferation of price-focused industry advertising. I believe it creates or fuels the perception in …
Last year was a tale of two halves for insurance mergers and acquisitions. OPTIS Partners reports 987 agency mergers and acquisitions were announced in 2022 — down 8% from 2021. A significant rise in interest rates and economic uncertainty may …
Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, leading reinsurers to require higher attachment points, according to Gallagher Re. “The topic of primary versus secondary perils has taken …
Specialization is critical in the cattle business and increased consumer demand for protein is driving new trends, including niche farms that offer direct-to-consumer strategies. In today’s evolving and growing livestock landscape, deep knowledge of market conditions and specialization is key …
It’s no mystery: The insurance industry is experiencing a monumental shift. In June 2021, the U.S. Chamber of Commerce issued a report citing U.S. Bureau of Labor Statistics numbers forecasting that over the next 15 years, 50% of the current …
