Petcare, food and candy company Mars Inc. has lost its bid to revive its claims against Factory Mutual Insurance Co. for business interruption losses it incurred during the coronavirus pandemic. The Fourth Circuit Court of Appeals recently upheld the dismissal …
When it comes to most of the personal lines market, it’s pretty straightforward. A person buys a car, and they need insurance. A person buys a home or rents an apartment, and they need insurance. Often, they can benefit from …
A Connecticut Appeals Court has affirmed that an insurer is not obligated to provide actual notice of a home insurance nonrenewal; proof that the insurer sent the notice by registered or certified mail is sufficient. The homeowners in the case …
While the labor market continues to come up short for the construction industry, the insurance market is doing its job supplying the coverages the industry needs to keep up with the significant demand for new building. Despite the challenges finding …
The Pennsylvania Insurance Department (PID) has reminded insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by aerial imagery. The regulatory agency said it has received consumer …
The balance sheet is preeminent in financial audits by its placement at the front of audit reports. The balance sheet is what insurance regulators and raters are supposed to first focus upon, because it is a measure of whether an …
Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense payments, according to a new AM Best report. According to AM …
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024, according to The Council of Insurance Agents and Brokers’ Q1 Market Survey. With the 7.7% average increase in Q1, there have …
For airline passengers and workers alike, it feels like trouble is lurking behind every cloud of late. Frightening scenes of a door plug flying off an airplane mid-flight have dominated news coverage. Clips of collisions and near-misses on the tarmac …
Increased distractions, staffing shortages and safety risks mean that 60% of company drivers are worried about their personal safety and liability behind the wheel. Over half have been involved in or witnessed an accident in the past year. According to …
