According to preliminary estimates from Colorado’s insurance division, one-third to two-thirds of the homes destroyed in the Marshall Fire may have been underinsured for replacement costs (DOI). “One of the more troubling issues in the aftermath of the Marshall Fire has been the problem of underinsurance for people who lost their homes,” the Department of… Continue reading Up to Two-Thirds of Homes Destroyed in Marshall Fire May Be Underinsured
Author: Farkas Laura
More than One-Third of Workplace Injuries Occur During the First Year on the Job: Travelers Report
Travelers, the country’s largest workers compensation insurer, today released its 2022 Injury Impact Report. The study analyzed more than 1.5 million workers compensation claims over a five-year period (2015-2019) and revealed that 35% of injuries occur during employees’ first year on the job, regardless of age or industry experience. “Our data underscores the importance of… Continue reading More than One-Third of Workplace Injuries Occur During the First Year on the Job: Travelers Report
Teva Pharm Sees Nationwide U.S. Opioid Settlement in 2022
Teva Pharmaceutical Industries’ CEO said on Tuesday that the company remains optimistic that it will reach a nationwide settlement in lawsuits alleging that it and other drug companies fueled the U.S. opioid epidemic by the end of the year. Teva, the world’s largest generic drugmaker, increased its legal provision for opioid litigation by $1.1 billion… Continue reading Teva Pharm Sees Nationwide U.S. Opioid Settlement in 2022
QBE North America Launches Specialty Casualty Business
QBE North America today announced the launch of a Specialty Casualty business as part of its strategy to invest in areas where the insurer can offer distinct advantages to business customers. “With QBE Specialty Casualty, we see a clear opportunity to build a long-term franchise that is grounded in expert underwriting with a data-driven approach… Continue reading QBE North America Launches Specialty Casualty Business
Berkshire Hathaway Earnings Fall on Investment Losses
Berkshire Hathaway Inc.’s first-quarter earnings fell, hurt by investment losses and weaker results in its insurance-underwriting business. Warren Buffett’s company reported net income of $5.46 billion, or $3,702 a Class A share equivalent. That was down from $11.71 billion, or $7,638 a share, a year earlier. Operating earnings, which exclude some investment results, edged up… Continue reading Berkshire Hathaway Earnings Fall on Investment Losses
Worker Pay and Benefits Grow at Record Pace, Pressuring Inflation
Compensation for American workers increased rapidly in the first quarter, as a tight labor market put more money in workers’ pockets while keeping inflation under control. Without adjusting for seasonality, business and government employers spent 4.5 percent more on worker costs in the first quarter compared to the same period a year ago, according to… Continue reading Worker Pay and Benefits Grow at Record Pace, Pressuring Inflation
Supreme Court Upholds Dismissal of Discrimination Lawsuit Filed Against Keller Business
The Supreme Court on Thursday upheld the dismissal of a discrimination lawsuit filed by a deaf, legally blind woman against a North Texas physical therapy practice that would not provide an American Sign Language interpreter for her appointments. Chief Justice John Roberts wrote in a 6-3 decision with conservatives in the majority that businesses that… Continue reading Supreme Court Upholds Dismissal of Discrimination Lawsuit Filed Against Keller Business
Berkshire Shareholders Vote to Keep Buffett as Chairman, Reject Climate Disclosures
Berkshire Hathaway Inc. shareholders on Saturday rejected proposals to have an independent chair replace Warren Buffett and require his company to disclose more about its climate-related risks and efforts to improve diversity. Shareholders supported letting Buffett keep both the chairman and chief executive roles by a nearly 6-to-1 margin, Berkshire said at its annual meeting… Continue reading Berkshire Shareholders Vote to Keep Buffett as Chairman, Reject Climate Disclosures
Kansas Tornado Generated 165 Mph Winds as It Destroyed Homes
The tornado that damaged over 1,000 buildings in south-central Kansas had winds of up to 165 mph and carved a path of destruction nearly 13 miles long. The tornado that caused extensive damage Friday, mostly in the Wichita suburb of Andover, and injured several people, was rated an EF-3 on the Enhanced Fujita scale, which… Continue reading Kansas Tornado Generated 165 Mph Winds as It Destroyed Homes
Hanover Survey Reveals Insights into Small Business Owners’ Insurance-Buying Habits, Evolving Risk Exposures
With the small business risk landscape continuing to evolve, The Hanover Insurance Group, Inc., a leading property and casualty insurance company, today released its 2022 Small Business Risk Report, which looked at the key business risks, purchasing decisions, and communication and insurance management preferences for small business owners. The Hanover partnered with Statista, a leading… Continue reading Hanover Survey Reveals Insights into Small Business Owners’ Insurance-Buying Habits, Evolving Risk Exposures