The co-founder of New Paradigm Group, LLC, a Florida-based specialty general agency focused on parametric insurance, reinsurance, and risk transfer products, has left the company. Evan Glassman and Chairman Bradley Mayer founded the company nearly a decade ago with the goal of modernizing parametric insurance and reinsurance through innovative mechanisms that make the product more… Continue reading New Paradigm Group Co-Founder Evan Glassman Announces Departure from MGA
Author: Farkas Laura
Study: COVID Keeps Half Million Out of U.S. Workforce
According to a new study released Monday, illness caused by Covid-19 has reduced the labor force in the United States by approximately 500,000 people, a hit that is likely to continue if the virus continues to sicken workers at current rates. During the pandemic, millions of people left the labor force (the number of people… Continue reading Study: COVID Keeps Half Million Out of U.S. Workforce
Geopolitical Tensions, Climate Change, Inflationary Pressures Increasing Exposures, Reshaping Insurance
Global geopolitical tensions, macroeconomic developments, and climate change increase demand for risk management. The re/insurance industry must prioritize modeling and contract certainty to ensure pricing is appropriate for the risks assumed, thereby increasing capacity. Swiss Re supports clients with its risk knowledge, capital strength and innovative solutions. Ahead of the Rendez-Vous de Septembre 2022, Swiss… Continue reading Geopolitical Tensions, Climate Change, Inflationary Pressures Increasing Exposures, Reshaping Insurance
Nineteen Large Fires in Washington State and Oregon Prompt Evacuation Orders
On Sunday, wildfires raged across Oregon and Washington state, prompting officials to order evacuations in some areas and electric utilities to turn off power to thousands of customers for safety. There were 19 large fires in the two states, encompassing more than 295,000 acres as of Sunday, according to the Northwest Interagency Coordination Center, which… Continue reading Nineteen Large Fires in Washington State and Oregon Prompt Evacuation Orders
Real Estate Listings with Flood Scores Shift Home-Shopper Habits
Assume you want to sell your Cape Coral, Florida, home and believe you’ll get a good price because of its proximity to the water. Perhaps you’re considering purchasing a starter home in a newly developed Houston neighborhood. As you considered the home’s curb appeal, did you consider the property’s risk of flooding in the next… Continue reading Real Estate Listings with Flood Scores Shift Home-Shopper Habits
Brian Neilson Joins Professional Underwriters Agency, A Division of NSM Insurance Group
PUA (Professional Underwriters Agency), a division of NSM Insurance Group, recently hired a new member to its team, Brian Neilson, as Assistant Underwriter. PUA specializes in underwriting Architects and Engineers (A&E), Design Build & Contractors, and other lines of non-medical Professional Liability/Errors & Omissions insurance. Brian is a recent graduate of San Diego State University… Continue reading Brian Neilson Joins Professional Underwriters Agency, A Division of NSM Insurance Group
Millions of Homes Are Being Built in Harm’s Way Even as Wildfires Grow
Wildfires are becoming larger and more severe across the Western United States as global warming intensifies. At the same time, new data show that more Americans than ever are moving to areas of the country that are more likely to burn, increasing the likelihood of disaster. More than 16 million homes in the West were… Continue reading Millions of Homes Are Being Built in Harm’s Way Even as Wildfires Grow
Premiums Set to Rise Sharply for Affordable Health Care Act Plans
Premiums for many Affordable Care Act health-insurance plans are expected to skyrocket next year, indicating how rising labor costs and other expenses are beginning to reverberate throughout the healthcare economy. Consumers, who can generally begin signing up for plans on Nov. 1, are unlikely to notice much of a difference because of increased federal subsidies,… Continue reading Premiums Set to Rise Sharply for Affordable Health Care Act Plans
Toyota Reaches Potential $150M U.S. Settlement Over Fuel Pump Recalls
Toyota Motor Corp reached a potential $150 million settlement to resolve U.S. class-action litigation related to recalls of approximately 3.36 million Toyota and Lexus vehicles with defective fuel pumps that could cause engines to stall. On Wednesday night, a preliminary settlement was filed in federal court in Brooklyn. It must be approved by a judge.… Continue reading Toyota Reaches Potential $150M U.S. Settlement Over Fuel Pump Recalls
Florida Homeowners Will See New Surcharge on Insurance Bills to Cover Insolvent Companies
Homeowners will continue to see an increase in the price to live in paradise with another surcharge tacked onto their insurance premiums in 2023. This is to help the Florida Insurance Guaranty Association (FIGA) cover the claims from insurance companies that have gone into receivership. This new charge is the second to hit homeowners this… Continue reading Florida Homeowners Will See New Surcharge on Insurance Bills to Cover Insolvent Companies