Home sales in March posted their biggest decline in more than a year, reversing course after a positive start this year as rising mortgage rates frightened off buyers.
Author: Annie George
Travelers President: Improvements in Florida Not Enough to Reopen Homeowners
Florida’s homeowners market may look better than it has in the past, but Travelers Cos. is still steering clear, according to Travelers Personal Insurance President Michael Klein.
New Study Calculates Climate Change’s Economic Bite Will Hit Nearly $38 Trillion Annually by 2049
Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said.
Supreme Court Makes It Easier to Sue for Job Discrimination Over Forced Transfers
The Supreme Court on Wednesday made it easier for workers who are transferred from one job to another against their will to pursue job discrimination claims under federal civil rights law, even when they are not demoted or docked pay.
Microcaptives Make Internal Revenue Service 2024 ‘Dirty Dozen’ List of Tax Scams
The federal Internal Revenue Service listed microcaptive insurance programs on its 2024 “Dirty Dozen” list of 12 tax scams, saying the programs can prove to be bogus tax avoidance strategies.
Travelers Kicks Off 2024 with Strong Q1 Reporting Net Income of $1.123B
Travelers has published its first quarter 2024 financial results, reporting 16% growth in net income despite an elevated level of catastrophe losses compared to the prior year quarter.
MGM Resorts Sues FTC to Stop Investigation of Casino Hack
MGM Resorts International sued the Federal Trade Commission to stop an investigation into how it dealt with a cybersecurity attack last year.
Florida Insurance Market Full of ‘Low Quality’ Companies, Study Find
The vast majority of small insurers operating in Florida are considered so financially weak that they wouldn’t typically meet federal guidelines allowing them to back mortgaged homes.
HDI Global Expands Mid-Market Commercial Lines Presence
HDI Global said it is expanding its operation to include clients in the mid-market segment that have turnover of between €20 million ($21.3 million) and €500 million.
Average Premium Renewal Rates Remain Up Year Over Year: Ivans
The first quarter results of 2024 showed premium renewal rate change for all major commercial lines of business except Workers’ Compensation are up year over year. Q1 2024 experienced an increase in average premium renewal rate change across all major commercial lines compared to Q4 2023.