The property insurance market will remain tight for the rest of the year and will get even more challenging for buyers in 2023 as reinsurers increase rates at Jan. 1 renewals in the wake of losses from Hurricane Ian, brokerage Risk Strategies Co. said in a report Wednesday. Many casualty lines will also see rate …
Chubb Ltd.’s net income more than halved in the third quarter, reflecting Hurricane Ian claims and realized losses, and the insurer’s top executive said Wednesday that additional commercial rate increases are necessary to keep pace with loss costs and inflation. “Casualty rate in most classes will need to rise at an accelerated rate or else …
U.S. commercial insurance rates rose 5% in the third quarter, down from 10% in the second quarter, but there was considerable variation by line, with property insurance increases accelerating, casualty rate hikes slowing and financial lines rates falling, according to Marsh LLC’s quarterly pricing report released Wednesday. Cyber liability rate hikes, which have soared over …
Property/casualty rates rise in third quarter; financial lines fall Read More »
A New York Supreme Court judge Tuesday ruled in favor of 16 terminated New York City public employees in holding that the “vaccination mandate for City employees was not just about safety and public health; it was about compliance.” The fired employees in July sued the city, along with public health and safety officials, over …
Judge rules NYC vaccine mandate ‘arbitrary and capricious’ Read More »
Connecticut Gov. Ned Lamont on Monday announced that state businesses will see another rate decrease in workers compensation insurance beginning Jan. 1, 2023. The Connecticut Insurance Department approved an annual filing with decreases of 3% to workers comp pure premium loss costs. This marks the ninth consecutive year the department has approved rate decreases for …
Connecticut OKs ninth straight year of comp rate decreases Read More »
A New York appellate court upheld the temporary suspension of benefits for an injured truck driver who failed to disclose his authorship and self-publication of several books while collecting workers compensation benefits. John Koratzanis was working for U.S. Concrete Inc. as a truck driver in 2017 when he injured his knees, foot and ankle. After his …
Once upon a time, there was an injured truck driver Read More »
Several reports this week point to higher commercial property insurance rates in the wake of Hurricane Ian. Source link
A study released Thursday exploring the availability of personal protective equipment in workplaces found 72% of workers who forgo protocols do so because they “just didn’t want to wear it.” J.J. Keller Center for Market Insights, the research arm of safety supplies provider J.J. Keller and Associates Inc., surveyed 172 people from more than 10 …
The California Division of Workers’ Compensation on Wednesday announced an extension of emergency rules allowing remote medical-legal evaluations intended to give qualified medical evaluators and injured workers more flexibility to schedule exams during the pandemic. The rules set to expire Tuesday were extended through Jan. 18, 2023, in what is the last time the regulations …
A New Jersey real estate developer and two contractors are facing a total of $518,037 in fines after allegedly and willfully exposing workers to dangerously energized power lines at a worksite in Paterson, New Jersey, the U.S. Department of Labor said Tuesday. On April 15, the local power utility alerted the department’s Occupational Safety and …
New Jersey developer, contractors cited for power lines exposure Read More »