Florida lawmakers will return to the state capitol next month to address the state’s property insurance crisis, and insurance experts say one proposal could save homeowners $150 per year right away. The short-term solution entails making insurance more affordable for insurance companies. The man behind the majority of Florida insurance company ratings paints a bleak… Continue reading Could Reform of Hurricane Catastrophe Fund Help Solve Florida Insurance Crisis?
Author: Farkas Laura
IMCA Announces June 2022 Conference; Unveils New Name
The Insurance Marketing & Communications Association (IMCA) today announced the agenda and speakers for its annual conference to take place June 20–22 in Orlando. The event has been reimagined as “IMCA Ignite” to reflect the association’s focus on fostering creativity and excitement around the power of marketing to drive business results. Each expert from the… Continue reading IMCA Announces June 2022 Conference; Unveils New Name
Aon: Catastrophe Losses for Insurers to Top $14 Billion for Q1 2022
Catastrophe losses for private and public insurers will exceed $14 billion in the first quarter of 2022, according to a new report from re/insurance broker Aon. Catastrophe Recap states that total economic losses in Q1 2022 were $31 billion worldwide, with just under half of this covered by public and private insurers. The company also… Continue reading Aon: Catastrophe Losses for Insurers to Top $14 Billion for Q1 2022
Federal Judge Strikes Down Mask Mandate on Planes, Trains, Public Transit
On Monday, a federal judge in Florida overturned the federal mask requirement for planes, trains, buses, and other modes of public transportation, less than a week after the Centers for Disease Control and Prevention (CDC) extended it through May 3. In a 59-page decision, Judge Kathryn Kimball Mizelle, a Trump appointee, declared the mandate —… Continue reading Federal Judge Strikes Down Mask Mandate on Planes, Trains, Public Transit
Chubb Launches New Hospital Indemnity Product, Offering Employers Greater Plan Customization
Chubb Workplace Benefits, a Chubb business that partners with benefits brokers, agents, and consultants to offer voluntary benefits to the employees of middle-market and large companies in the U.S., has launched a new hospital indemnity product, Hospital Cash. This product includes more than 40 optional benefits designed to provide coverage beyond what many traditional hospital… Continue reading Chubb Launches New Hospital Indemnity Product, Offering Employers Greater Plan Customization
NY Coalition Launches to Improve Access to Auto Insurance
NY First, a coalition of auto insurance carriers and independent agents and brokers, today launched a campaign to reduce obstacles and eliminate outdated requirements for consumers seeking auto insurance coverage. The unified coalition of insurance professionals supports bipartisan legislation sponsored by Senator Neil Breslin (D-Albany) and Assemblyman Ken Zebrowski (D-Rockland) that will allow auto insurance… Continue reading NY Coalition Launches to Improve Access to Auto Insurance
Travelers’ Profit Beats on Lower Catastrophe Losses
Travelers Companies Inc reported a 48 percent increase in quarterly profit on Tuesday, beating analysts’ expectations, as lower catastrophe-related claims offset a hit from investment losses. Core income increased to $1.04 billion, or $4.22 per share, in the first quarter ended March 31, up from $699 million, or $2.73 per share, the previous year. According… Continue reading Travelers’ Profit Beats on Lower Catastrophe Losses
Investors Check Back Into Hotel Market as Travel Picks Up
During the early months of the pandemic, hotels were hit harder than any other type of real estate. Now, it appears that investors can’t get enough of them. According to CoStar Group, more than $12.5 billion in hotel sales occurred in the first three months of 2022, the highest first-quarter figure since 2016. Hotel for… Continue reading Investors Check Back Into Hotel Market as Travel Picks Up
In Tough Job Market, Benefits Increasingly Help Employers Attract, Retain Employees
With the labor market remaining tight, the importance of health and retirement benefits in attracting and retaining workers has risen to its highest level in a decade. Furthermore, after a brief dip during the pandemic, the number of employees willing to pay for more generous benefits has increased. These are some of the key findings… Continue reading In Tough Job Market, Benefits Increasingly Help Employers Attract, Retain Employees
Homeowner Groups Look to Stop Investors from Buying Single-Family Homes to Rent
Small groups of neighborhood volunteers are preventing companies from purchasing single-family homes by rewriting homeownership rules in order to prevent investor purchases of suburban housing. These organizations, known as homeowner associations, spend a significant amount of time enforcing rules governing things like lawn care and parking. However, they frequently have broad powers to regulate how… Continue reading Homeowner Groups Look to Stop Investors from Buying Single-Family Homes to Rent