To the chagrin of Florida’s insurance industry and homeowners who want insurance prices to stop rising, there is still such a thing as a “free roof.” The Florida Legislature failed last month to weaken incentives for roofing contractors who canvas neighborhoods offering homeowners “free roofs” paid for in full by their insurance companies. According to… Continue reading Insurers in Florida Can Now Offer Reduced Levels of Roof Replacement Coverage
Author: Farkas Laura
The Cost of Insuring Black Sea Shipping Is Out of Control
The cost of insuring merchant ships sailing to Black Sea ports has risen dramatically, creating a significant potential impediment to the movement of Russian cargoes from the region. According to four market participants, underwriters are charging as much as 10% of the value of a ship’s hull — essentially the vessel’s worth as an asset… Continue reading The Cost of Insuring Black Sea Shipping Is Out of Control
Pricing for Insurance Lines Begins to Stabilize Excluding Cyber: WTW
The commercial insurance market is beginning to show signs of normalcy in 2022, despite a steady slowing of rate increases. According to the 2022 Marketplace Realities Report, Spring Update by WTW, a leading global advisory, broking, and solutions company, buyers are still seeing rate increases; however, many of those increases are now dropping to single… Continue reading Pricing for Insurance Lines Begins to Stabilize Excluding Cyber: WTW
Americans Shun Warehouse Construction in their Communities
The warehouse construction boom in the United States is reaching a halt in some communities. Residents in towns and cities are rising up in opposition to a growing push to bring distribution centers closer to neighborhoods and areas unaccustomed to industrial traffic, an effort fueled by surging e-commerce demand that opponents of the warehouses claim… Continue reading Americans Shun Warehouse Construction in their Communities
USG Announces Hire of Amer in Tampa, FL
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Mike Amer, Producer/Broker: Commercial Lines, in the Tampa, FL Branch. Amer brings 17 years of insurance experience to the USG team, most recently with an admitted Carrier and regional wholesale MGA in the Southeast. As Producer/Broker: Commercial Lines at… Continue reading USG Announces Hire of Amer in Tampa, FL
AIG Considers Adding Policy Exclusions for Russia, Ukraine: Sources
According to an insurance broker and a source familiar with the matter, one of the world’s largest commercial insurers, AIG, is considering cutting cover for Russia and Ukraine in order to protect itself from the risk of large claims as sanctions escalate and the war drags on. The insurer is considering adding exclusion clauses to… Continue reading AIG Considers Adding Policy Exclusions for Russia, Ukraine: Sources
SEC Continues to Investigate Amazon Over Misuse of Seller’s Data
Amazon’s anti-competitive business practices are still being investigated by the Securities and Exchange Commission (SEC). According to a Wall Street Journal report published Wednesday, the investigation is centered on the use of data from third-party sellers. According to the Journal, the SEC has requested that several Amazon executives turn over emails and communications. The e-commerce… Continue reading SEC Continues to Investigate Amazon Over Misuse of Seller’s Data
Swiss Re Targets a Return on Equity of 14% in 2024
Swiss Re’s strategy of building risk insights and successful risk partnerships complements its risk transfer business Group return on equity (ROE) target of 14% in 2024 to be achieved by higher L&H Re profit contributions, attractive margins in the property and casualty businesses and continued cost discipline Attractive opportunities to deploy capital across all businesses;… Continue reading Swiss Re Targets a Return on Equity of 14% in 2024
The Hartford Announces Goal of Net Zero Greenhouse Gas Emissions for All Operations by 2050
The Hartford today announced a goal to achieve net zero Greenhouse Gas Emissions (GHGe) for its full range of businesses and operations by 2050, in alignment with the Paris Climate Accord. This goal is in addition to the company’s existing targets to operate with 100% renewable-energy-source consumption for its facilities by 2030 and to reduce… Continue reading The Hartford Announces Goal of Net Zero Greenhouse Gas Emissions for All Operations by 2050
Alliant Retirement Consulting Named Top DC Advisor for Multi-Office Firms for the Second Consecutive Year
The National Association of Plan Advisors (NAPA) has named Alliant Retirement Consulting a Top DC Advisor for Multi-Office Firms. Alliant Retirement Consulting, a division of Alliant Insurance Services, finished 2021 with more than $15 billion in assets under advisement, earning a position among the top deferred contribution (DC) advisors in the nation for the second… Continue reading Alliant Retirement Consulting Named Top DC Advisor for Multi-Office Firms for the Second Consecutive Year