Recent developments have sparked new debate about the role that Citizens Property Insurance Corp. should play in Florida’s rapidly shifting property insurance market, with potential changes that could affect agents, other carriers and homeowners for years to come. At a …
The Occupational Safety and Health Administration (OSHA) recently granted Massachusetts initial approval for a state-run safety and health plan for state and local government workers. The Massachusetts plan covers an estimated 430,000 state and local government employees only. Private sector …
A federal judge ruled in mid-August that Walgreens can be held responsible for contributing to San Francisco’s opioid crisis for over-dispensing opioids for years without proper oversight and failing to identify and report suspicious orders as required by law. San …
Historically, wholesale insurance brokers have been viewed through the limited perspective of being solely a transactional facilitator of submissions or an avenue to access additional markets, especially in the excess and surplus (E&S) marketplace. But now more than ever, the …
AM Best estimates that traditional reinsurance capital will drop by roughly $40 billion to $435 billion at year-end 2022, after hefty jumps recorded in each of the prior three years. The projected 8.4% decline to $435 billion for 2022 from …
Federal lawsuits, including a nationwide class action filed in California, have put a spotlight on a type of captive insurance program, charging its directors with a scheme that involved forged signatures and fake policies. The lawsuits, by Lexington Insurance, an …
The number of U.S. products recalled this year has already surpassed 1 billion, according to the U.S. product recall index released by Sedgwick’s brand protection division. Only two other years on record have seen more than 1 billion units recalled: …
The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium increase across all …
Who is responsible for sales management in most firms? Often the task falls to the owner or the top producer in the firm. This is not necessarily a good idea, because sales management can take away time from the manager’s …
Tradespeople who call themselves and their workers “independent contractors” have long been an issue for the workers’ compensation industry, often cutting carriers out of premium and leaving injured workers without coverage. Some in the industry now worry, though, that at …
