Features

Officials Say California Family Arraigned for Auto Insurance Fraud Filed 40-Plus Claims

Shannon Ninio, 60, of North Hills was arraigned for insurance fraud after a California Department of Insurance investigation found she and her husband, Moshe Ninio, allegedly stole customers’ personal information and used that information to file more than 40 fraudulent …

‘New Normal’ in Agency M&A Landscape Experts Share 2024 Outlook for Independent Agencies

The number of announced insurance distribution mergers and acquisitions boomed in 2021 and 2022. Last year, the count plummeted to levels seen at the beginning of the decade. Insurance Journal recently interviewed four M&A experts to share their analysis of …

Hub Launches High Net Worth Excess Wildfire Program in California

HUB International launched a new program to address the need for enhanced wildfire coverage of high value homes that will be offered exclusively by HUB Private Client to address the insurance and risk management needs of affluent families and individuals …

USDA Insurance Program Updates Encourage Conservation

In December 2023, the U.S. Department of Agriculture announced updates to the federal crop insurance program to affirm USDA conservation practices as Good Farming Practices for crop insurance. USDA’s updated Risk Management Agency (RMA) handbook recognizes USDA’s Natural Resources Conservation …

Houston Attorney Eric B. Dick Sanctioned Over $100K in ‘Frivolous’ Lawsuit

For the second time in three months, Houston plaintiffs’ attorney Eric B. Dick has been ordered to reimburse an insurer more than $100,000 for filing a “frivolous, groundless” lawsuit made “solely for the purpose of harassment.” Galveston County District Court …

WEATHER Act Aims to Reduce Hurdles for Small Farmers

In December, a group of legislators, including Vermont U.S. Sen. Peter Welch, a member of the Senate Agriculture Committee, and Sen. Bernie Sanders, pitched the Withstanding Extreme Agricultural Threats by Harvesting Economic Resilience (WEATHER) Act, legislation calling for developing an …

Proposed Cybersecurity Legislation Seeks to Protect America’s Food Supply Chain

U.S. Representatives Brad Finstad (MN-01) and Elissa Slotkin (MI-07) have introduced HR 7062, the Farm and Food Cybersecurity Act, designed to strengthen cybersecurity protections within the food and agriculture critical infrastructure sector by identifying vulnerabilities and improving protective measures against …

Wage Growth Likely to Continue Driving Workers’ Comp Payroll Growth

Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers’ compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …

Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best

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 Insurance Information Institute (Triple-I) and Milliman. …

It’s Time for the Commercial Property Insurance Industry to Adopt Tech Efficiencies

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 proving harder to syndicate. Today, brokers and their clients are …

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