As of Feb. 1, the National Flood Insurance Program (NFIP) had paid out more than $115 million in flood claims in Louisiana in response to the 2020 hurricane season. That figure is up from the $110 million in NFIP payments …
The vast majority of U.S. small businesses took a hit to their revenue last year because of the coronavirus pandemic, with minority-owned businesses struggling the most and worrying more about accessing credit, according to a Federal Reserve survey released on …
Insurance is a financial product designed to protect consumers’ and businesses’ balance sheets. If your house burns down and you have insurance, the insurance company pays to rebuild the asset known as your house. For insurance to be real, the …
During a routine trip to dump grain into a dump pit, a driver became concerned about the amount of dust rising from the pit. To investigate, he removed both the primary and secondary pit grates — a task that was …
National Jaime Tamayo is returning to MAPFRE North America to be CEO, a post he relinquished in 2016 after eight years to become CEO of international operations for the insurer. In his return, Tamayo is succeeding his successor, Alfredo Castelo, …
In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the industry dealt with the …
Environmental for Real Estate Market Detail: New Empire Group’s (www.newempiregroup.com) RECOVER is a storage tank and site pollution program for commercial real estate exposures, including condominium associations, cooperatives, community associations, and apartment buildings. The RECOVER program addresses risks with bodily …
We’ve learned a lot in the past transformative year. The bottom line is: it’s not enough to just be a broker anymore. Organizations expect their broker partner to get creative (and aggressive) when it comes to guiding their total rewards …
While it obviously presented challenges, 2020 is looking like it may not have been such a bad year for workers’ compensation insurers and insureds after all. Insurers took in less premium but paid fewer claims. They managed to achieve one …
The insurance industry is so intertwined with the economy and society. Any noticeable change in either will have impacts on the insurance industry. There is nothing like what has occurred with COVID-19, and there is no exact end in sight. …
