Two months of missile, drone and hijacking attacks against civilian ships in the Red Sea have caused the biggest diversion of international trade in decades, pushing up costs for shippers as far away as Asia and North America. The disruption …
British drivers have to fork out twice as much to insure electric vehicles as they do for combustion-engine models, adding to hurdles to make the switch to zero-emission cars. The average insurance premium for EVs jumped to £1,344 ($1,700) at …
Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last three months of 2023, compared to the prior …
Major insurance groups have elevated team members to top positions around the South. Tampa-based BRP Group, an independent insurance distribution firm, has named Dan Galbraith and Jim Roche to be co-presidents of the company. Galbraith, who has been chief operating …
When a Florida Senate committee last week approved a bill that would raise the policy limit on homes that can be written by the state-backed Citizens Property Insurance Corp., state Sen. Doug Broxson said the change was needed because of …
The California Labor Commissioner’s Office reached a $1 million settlement against the Cheesecake Factory Restaurants Inc. and two janitorial contractors for reportedly underpaying 589 janitorial workers. The investigation began in 2016 after receiving complaints of possible wage and hour violations …
A crew member fell asleep with a 55-foot trawler operating on autopilot before it crashed onto rocks on the Maine coast last weekend, the fishing vessel’s owner said. The four crew members aboard the Tara Lynn II were rescued. But …
New Jersey Gov. Phil Murphy recently signed into law a change in workers’ compensation coverage for volunteer and professional public safety and law enforcement personnel. The new law (A-5909/S-4267) amends current workers’ compensation law to add that a response to …
The Pennsylvania Insurance Department (PID) announced the removal of certain fees associated with insurance licensing forms and faster review times for pending applications. “Accelerating our review time for pending license applications and removing unnecessary fees will help PID better serve …
Global insured losses from natural catastrophes totaled $118 billion in 2023, according to Aon’s annual Climate and Catastrophe Insight report. That number represented 31% of the total economic loss caused by 398 global natural disaster events. While 2022 saw the …
