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 …
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 …
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 …
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 …
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 …
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 …
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. …
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 …
Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time in 2022, to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance segment. The …
The 5th U.S. Circuit Court of Appeals ruled in mid-January that Southwest Airlines can continue to seek reimbursement under its Liberty Mutual cyber risk policy for costs incurred during a 2016 massive computer failure. The appeals court panel disagreed with …
