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Demand for Liability Insurance to Rise Again

Claims severity and demand for liability insurance will increase as economic growth accelerates and because of technological, social and regulatory changes, according to a new report from Swiss Re. Cyber risk, hydrofracking and autonomous cars will likely be among the …

Homeowner Rate Hikes Go Unchallenged by Texas Commissioner

Texas’ insurance commissioner has allowed the three largest home insurers to impose significant rate hikes on many policyholders despite the objections of a state consumer advocate. Insurance Commissioner Julia Rathgeber can reject any new rates that are deemed excessive and …

Contractors and the CGL Policy’s ‘Your Product’ and ‘Your Work’ Exclusions

Dear Contractors: The wall you just built may not be covered by your insurance the way you think it is. This is because although the commercial general liability (CGL) policy may cover bodily injury or property damage to others resulting …

$2.25M Additional Claims Payments Recovered in Louisiana in First Half of 2014

Consumers who filed complaints were helped by Louisiana Department of Insurance (LDI) to recover an additional $2.25 million in insurance payments during the first half of 2014. Insurance Commissioner Jim Donelon said the funds are in addition to the original …

The Ever-Evolving Nature of Cyber Coverage

To understand the current state of network security and privacy (cyber) coverage, it is helpful to have an understanding of the development and some of the major milestones which helped shape the coverage. The first cyber policy was written in …

R.I., Mass. Among Top 5 States in Hazard Risk Ranking

Florida, Rhode Island, Louisiana, California and Massachusetts are the top five states for exposures to multiple natural hazards, according to a new analysis by CoreLogic, a property data analytics firm. The analysis was derived from the CoreLogic Hazard Risk Score …

Losses by Business Sector

Aviation Improvements in airline safety are leading to far fewer catastrophic losses overall, despite 2014′s extraordinary loss activity. However, the cost of aviation claims is rising, driven by the widespread use of new materials and rising aircraft complexity, as well …

N.H. Gov. Creates Workers’ Comp Commission 

New Hampshire Gov. Maggie Hassan on Sept. 4 issued an executive order creating a new commission to recommend ways to reduce the state’s workers’ compensation medical costs. The executive order follows Hassan’s earlier announcement in May that she was planning …

E&O Insights: How Well Do You Know Your Workers’ Compensation Risk?

The workers’ compensation class of business results in upwards of 10 percent of all errors and omissions (E&O) claims every year. While this may not seem like a lot, it is a class agents must be sensitive to for a …

FEMA Wants $5.8M in Sandy Aid Repaid

When Superstorm Sandy hit nearly two years ago, the Federal Emergency Management Agency quickly sent out $1.4 billion to aid the hurricane’s victims. Now, thousands of people might have to pay back their share. FEMA is scrutinizing about 4,500 households …

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