National Section

Top 10 Discrimination Claims in 2016

The U.S. Equal Employment Opportunity Commission (EEOC) said it resolved 97,443 charges of employment discrimination in fiscal year 2016 and secured more than $482 million for victims of discrimination in private, federal and state, and local government workplaces. Charges of …

Brit Launches Lutine Yacht Consortium with Capacity of $250M

Brit Ltd., the London-based specialty insurer, announced the launch of a new Lloyd’s consortium for yachts, called the Lutine Yacht Consortium. The consortium has a capacity of $250 million, offering 100 percent Lloyd’s security to insure motor and sailing vessels …

D&O Coverage to Expand, Get Cheaper in 2017: Marsh

Directors and officers liability policies are likely to become broader and continue getting cheaper in 2017. This is among the likely trends expected for the financial and professional liability insurance marketplace in the months ahead, insurance broker Marsh said in …

Declarations

Harassment Drones “The worst thing that can happen is you get mamas separated from their babies, and that’s one of my biggest concerns.” — Republican Rep. Scott Chew wants to send people to jail for harassing farm animals with drones. The …

Business Moves

Markel, SureTec Markel Corp. has agreed to acquire surety firm SureTec for approximately $250 million, inclusive of a three-year earn out. SureTec is one of the largest privately owned surety companies in the U.S. SureTec’s largest subsidiary, SureTec Insurance Co., …

2017 Agency Salary Survey: Salaries and Total Compensation Up

Salaries for insurance agency management, owners, principals and producers were up in 2016. Total compensation for support staff also increased, although not by as much as they did the year before. That’s according to Insurance Journal’s 2017 Agency Salary Survey, …

Winning the War on Talent: The Value of Soft Benefits in Compensation

Insurance agencies that stress “soft” benefits have the upper hand in recruiting workers in today’s competitive job market. Employees are increasingly seeking out “soft” benefits in addition to traditional “hard” benefits from their employers. While employees still greatly value salaries, …

The Future of Fraud Fighting: IoT and Telematics

Declining costs, the availability of cloud storage and the rise of telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk Insurance Solutions. Though predictive modeling has been used for …

Grinnell Mutual Grows from Complacent to Dynamic

A mutual insurer created more than 100 years ago to reinsure farm mutual insurance companies in Iowa has grown faster in the past five years than it did during the previous 10 decades, its president and CEO says. Organized in …

The Wedge: How to Beat Buyer Intimidation

Imagine it’s almost 2,000 years ago and you’re a peasant living in Italy. Your boss sends you into Rome to get some supplies. You saddle up your donkey and head into town. As you make your way through the city, …

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