News Archives - Insurance Journal

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18 09, 2024

Maine Commission Considers Public Flood Insurance Option

By | September 18th, 2024|Uncategorized|Comments Off on Maine Commission Considers Public Flood Insurance Option

State leaders tasked with reviewing Maine’s preparations and responses to climate change-fueled natural disasters are at a crossroads. While Maine has seen seven federal disaster declarations for severe storms and flooding in the past three years, statewide enrollment in federally-backed …

18 09, 2024

Home Insurance Customers Staying Put Despite More Shopping Around: J.D. Power

By | September 18th, 2024|Uncategorized|Comments Off on Home Insurance Customers Staying Put Despite More Shopping Around: J.D. Power

Chubb, AIG, and Amica lead other insurers in J.D. Power’s assessment of customer satisfaction for home insurance, but the consumer intelligence company said more people are shopping around. The good news for insurers is that only 2.2% actually switched—and that’s …

18 09, 2024

Viewpoint: How Insurance Industry Can Use AI Safely and Ethically

By | September 18th, 2024|Uncategorized|Comments Off on Viewpoint: How Insurance Industry Can Use AI Safely and Ethically

Executive Summary: Artificial intelligence (AI) is on the brink of transforming most aspects of business, including insurance, but it needs to be used responsibly, according to Zywave Chief Technology Officer Doug Marquis, who takes a look at the some of …

18 09, 2024

Bump in Federal Trade Secret Litigation Seen in 2023: Report

By | September 18th, 2024|Uncategorized|Comments Off on Bump in Federal Trade Secret Litigation Seen in 2023: Report

Analytics from Lex Machina 2024 Trade Secret Litigation Report reveals a rise in trade secret cases filed in federal district court in 2023, along with the continued steady trend of trade secret cases that involved Defend Trade Secret Act (DTSA) …

18 09, 2024

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

By | September 18th, 2024|Uncategorized|Comments Off on Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

18 09, 2024

Africa Floods Affect 4 Million People, Deepen Food Crisis

By | September 18th, 2024|Uncategorized|Comments Off on Africa Floods Affect 4 Million People, Deepen Food Crisis

Floods across 14 central and West African nations have affected at least 4 million people — rendering many of them homeless — killed about 1,000 and are devastating crops in a region that’s already short of food and plagued by …

18 09, 2024

Canada Relaxes Some Mortgage Insurance Rules to Tackle Housing Crisis

By | September 18th, 2024|Uncategorized|Comments Off on Canada Relaxes Some Mortgage Insurance Rules to Tackle Housing Crisis

Canadian Finance Minister Chrystia Freeland on Monday announced changes to some mortgage rules as part of an effort to make housing more affordable, a critical political issue that has hurt Prime Minister Justin Trudeau and his Liberal government. Freeland said …

18 09, 2024

Central Europe Races Against Time as Flood Waters Approach

By | September 18th, 2024|Uncategorized|Comments Off on Central Europe Races Against Time as Flood Waters Approach

Volunteers and emergency personnel worked through the night to fortify the Polish city of Wroclaw against approaching flood waters, while Hungary opened a dam as the prime minister warned a “crucial period” was approaching. The worst floods to hit central …

17 09, 2024

California Insurance Commissioner and Cal Poly Humboldt Working on Public Wildfire Cat Model

By | September 17th, 2024|Uncategorized|Comments Off on California Insurance Commissioner and Cal Poly Humboldt Working on Public Wildfire Cat Model

California Insurance Commissioner Ricardo Lara and Cal Poly Humboldt plan to form a strategy group to undertake what Lara says will be the nation’s first public wildfire catastrophe model. The plan is for the group to draw from California’s research …

17 09, 2024

Registration for Next Round of Louisiana Fortified Homes Program to Open Wednesday

By | September 17th, 2024|Uncategorized|Comments Off on Registration for Next Round of Louisiana Fortified Homes Program to Open Wednesday

The Louisiana Department of Insurance announced that registration for the next round of Louisiana Fortified Homes Program grants will open at 8 a.m. CT, Wednesday, Sept. 18, and close at 5 p.m. CT, on Friday, Sept. 20. Registration for this …