Insurance Commissioner Ricardo Lara submitted his insurance pricing regulation to the California Office of Administrative Law that would recognize and reward wildfire safety and mitigation efforts made by homeowners and businesses. The regulation is the first in the nation requiring insurance companies to provide discounts to consumers under the Safer from Wildfires framework created by… Continue reading CA Commissioner Lara Submits First-in-Nation Wildfire Safety Regulation to Drive Down Insurance Costs
Author: Farkas Laura
U.S. Employers Double Down on Controlling Healthcare Costs, Enhancing Affordability
Two out of three U.S. employers (67%) plan to prioritize controlling rising healthcare benefit costs over the next three years. And with many employers expecting costs to rise steadily in the foreseeable future, they are pursuing several initiatives to manage costs and make benefits more affordable for employees. These are among the key findings in… Continue reading U.S. Employers Double Down on Controlling Healthcare Costs, Enhancing Affordability
The Captive Market: Exploring the Options
Captive insurance is offered by a corporation that owns the risk it insures. It protects against perils that traditional insurers find too small or too risky to handle. The captive insurance industry is growing globally. In 2017, about $1 trillion worth of captive insurance contracts were outstanding worldwide. By 2025, the global captive market is… Continue reading The Captive Market: Exploring the Options
NetVU Debuts ‘Spark’ Learning Experience for Insurance Agency Leaders
Spark, a new learning and development “think tank” experience from the Network of Vertafore Users (NetVU), debuts November 13–15 in Cincinnati with opportunities for property-casualty, life-health and benefits leaders to sharpen skills, discover emerging trends, grow their business and deepen relationships. The collaborative conference will address insurance agency professionals’ greatest challenges: attracting and retaining qualified… Continue reading NetVU Debuts ‘Spark’ Learning Experience for Insurance Agency Leaders
Louisiana Citizens Wants 63% Rate Increase for Homeowner Policies Amid Insurer Failures
Louisiana Citizens Insurance Corp., the state’s insurer of last resort, wants to raise its already-high prices by more than half, following a dramatic increase in demand for coverage after eight private insurers collapsed and nearly a dozen others exited the state. The organization has asked the Louisiana Department of Insurance for a 63% rate increase… Continue reading Louisiana Citizens Wants 63% Rate Increase for Homeowner Policies Amid Insurer Failures
More than 3 Million Could Lose Insurance If Boosted ACA Subsidies Expire After this Year
A new analysis finds that if Congress does not extend enhanced subsidies for Affordable Care Act (ACA) coverage, 3.1 million people will lose coverage and other consumers will face premium hikes of hundreds of dollars. The Robert Wood Johnson Foundation analysis, released Thursday, concluded that Congress must act by the summer to extend the enhanced… Continue reading More than 3 Million Could Lose Insurance If Boosted ACA Subsidies Expire After this Year
Coalition Report: Cyber Claims Costs for Smaller Businesses Rise
Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today announced the mid-year update to its 2022 Cyber Claims Report detailing the evolution of cyber trends. Key findings include that small businesses have become bigger targets, overall incidents are down, and ransomware attacks are declining as demands go unpaid.… Continue reading Coalition Report: Cyber Claims Costs for Smaller Businesses Rise
Beazley Launches U.S. Hospital Liability Policy
With nearly 20 years global experience underwriting large and middle-market hospitals and healthcare systems and a national perspective on claims management, market-leading insurer Beazley has created and launched a broad and flexible policy specifically for US hospitals called the AcuteCare form. This new specialist policy underpins Beazley’s expansion plans in hospital Professional Liability in the… Continue reading Beazley Launches U.S. Hospital Liability Policy
Distinguished Programs Introduces New $15M Limit Option in Express Hotel Umbrella Program
Distinguished Programs (“Distinguished”), a national insurance program manager, today officially announces the addition of a $15M limit option to its Express Hotel Umbrella insurance program. The program offers broad coverages including General Liability, Liquor Liability and Auto Liability with limits up to $105M. This program caters to well-maintained select-service and midscale hotels. Express Hotel Umbrella… Continue reading Distinguished Programs Introduces New $15M Limit Option in Express Hotel Umbrella Program
Flood Maps Are Out of Date Says FEMA
The Federal Emergency Management Agency’s flood maps are out of date and understate the risks to homes and businesses from flooding and extreme rain caused by climate change, according to FEMA Director Deanne Criswell. Flooding in Jackson, Mississippi, a week ago, overwhelmed the city’s main water treatment plant, leaving more than 150,000 state-capital region residents… Continue reading Flood Maps Are Out of Date Says FEMA