Latest Business Insurance Headlines
All the headlines from our Business Insurance Topic Page, ordered by recency.
Chubb: Middle Market Companies Post Record Gains
Mar 26 2024 // Middle-market companies posted record economic growth and revenue gains in the second half of 2023, according to a recent indicator survey by Chubb. A record 77% of companies reported performance improvement in the last...
Oklahoma Contractor Faces $103K in Fines After Fatal Workplace Asphyxiation
Mar 22 2024 // An Oklahoma City employer’s failure to follow federal safety procedures left a 30-year-old worker suffering fatal asphyxiation as they tried to make repairs inside a water tank at a McClain County wellsite in...
Medical Marijuana Law Does Not Impair Employers’ Right to Drug-Free Workplace
Mar 22 2024 // A Connecticut employer has the right to terminate an employee who is impaired by medical marijuana in the workplace. The Connecticut Appellate Court on March 19 upheld the dismissal of a lawsuit brought against a nonprofit...
People Moves: Sompo Promotes Allen as CUO of Global Markets Commercial P&C Insurance, Succeeding Easton; BMS Taps Howden’s Leahy as Cyber Practice Co-Leader
Mar 20 2024 // This edition of International People Moves details appointments at re/insurer Sompo and the re/insurance broker BMS. A summary of these new hires follows here. Sompo Promotes Allen as CUO of Global Markets Commercial...
North Carolina Labor Chief Rejects Infectious Disease Rules for Workplaces
Mar 19 2024 // RALEIGH, N.C. (AP) — North Carolina’s elected labor commissioner has declined to adopt rules sought by worker and civil rights groups that would have set safety and masking directives in workplaces for future...
People Moves: Moscowitz New COO at RT Specialty; Williams to Lead Nationwide’s Small Market Commercial Lines
Mar 15 2024 // Moscowitz New COO at RT Specialty RT Specialty promoted Marissa Moscowitz to chief operating officer. Moscowitz has over 15 years of information technology, business intelligence and business operations experience and has...
US Commercial Lines Survey Shows Aggregate Increase of 6.6% in Q4: WTW
Mar 7 2024 // U.S. commercial insurance prices increased 6.6% in the fourth quarter 2023, with “intriguing shifts” in some coverage areas, according to a survey from broker WTW. According to the latest results from...
25 Straight Quarters of Premium Increases for Commercial Lines: CIAB Survey
Mar 4 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7% on average in the fourth quarter 2023, continuing a trend that has now last more than 6 years. According to The Council of...
Small Business Cyber Gap
Mar 4 2024 // Yvette Prichard says cyber insurance continues to be an area where small businesses have significant gaps in their insurance portfolios. “It is a big risk; any business that does anything on a computer needs cyber...
SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years
Mar 4 2024 // SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January...
Small Business Market: Rising Costs, Hard Market but Hope for New Opportunities
Mar 4 2024 // There are reasons to be optimistic about the small business insurance market. New businesses are opening their doors every day. Small business start-ups are booming with record-breaking new business applications reported...
Embedded Business Insurance Agency Coverdash Raises $13.5 Million
Feb 29 2024 // Coverdash, which offers embedded commercial insurance technology with products for startups and small-to-medium businesses, announced $13.5 million in Series A funding. Coverdash’s technology package gives businesses...
Marsh: US Commercial Lines Rates Up 3% in Q4 2023
Feb 19 2024 // Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates. The Marsh Global Insurance Market Index said it was the 25th...
Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best
Feb 19 2024 // The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7 and personal lines at 109.9, according to the latest underwriting projections by actuaries at the...
It’s Time for the Commercial Property Insurance Industry to Adopt Tech Efficiencies
Feb 19 2024 // Buyers of commercial property insurance are facing many challenges. Rates are rising, capacity is becoming scarce (particularly in catastrophe exposed zones), and large programs, often involving dozens of insurers, are...
Over 350 People Contact Law Firm Reviewing FDIC Workplace Culture
Feb 16 2024 // More than 350 people have contacted an outside law firm reviewing workplace culture at the U.S. Federal Deposit Insurance Corporation in the wake of media reporting last year on allegations of persistent sexual harassment,...
SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years
Feb 14 2024 // SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January...
Nearly 75% of Employers Don’t Have AI Protocols for Internal Communications: Study
Feb 13 2024 // Despite organizations’ increased adoption of artificial intelligence (AI), 71% don’t provide internal guidance on when, where or how to use the technology, according to Gallagher’s 2023/24 State of the...
People Moves: Grange Insurance Names Welch VP, Commercial Lines Underwriting
Feb 8 2024 // Grange Insurance Company, headquartered in Columbus, Ohio, named Kyle Welch vice president of commercial lines underwriting for the East region covering Georgia, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee and...
Marsh: ‘Stable’ Q4 Commercial Rate Increase of 2%
Feb 5 2024 // Broker Marsh said global commercial insurance rates increased by 2% at renewal in the fourth quarter of 2023, marking the 25th straight quarter of rate increases. “At a time of much global economic uncertainty,...
