Year: 2024

Annual Benchmark Rate for California’s Workers’ Comp Set to Decrease In a significant policy shift, the California Insurance Commissioner has announced a decrease in the annual benchmark rate for the state’s workers’ compensation insurance. This decision overturns the rate increase request from the Workers’ Compensation Insurance Rating Bureau (WCIRB) and is expected to have broad […]

Insurance Carriers Triumph in Professional Liability Case In a landmark decision, insurance carriers have secured a significant victory in a professional liability case involving Somali entities and a $20 million policy. The Department of Justice (DOJ) played a pivotal role in this legal battle, which has now concluded in favor of the insurers. Understanding Professional […]

Nominations to the First Rising Stars Close Tonight The insurance industry is witnessing a wave of young talent, and tonight marks the final opportunity to recognize these up-and-coming leaders. ReInsurance Business’s search for this year’s industry leaders under 40 ends tonight at midnight. The initiative aims to highlight and celebrate the innovative contributions young professionals […]

Women in Insurance Discuss Formative Mentorship Experiences: The Role of Life Insurance Women in the insurance industry emphasize the importance of mentorship, highlighting two key traits: empathy and the ability to empower. These qualities are vital for guiding individuals through complex professional landscapes, including specialized fields like life insurance. Today, life insurance is not just […]

Supply Chain Attacks Are On The Rise – How Can Brokers Help? Recent cybersecurity reports highlight an alarming increase in supply chain attacks, emphasizing the urgent need for businesses to safeguard their digital assets. However, amid this rising threat, discussions are turning towards the broader scope of life insurance and its myriad benefits in protecting […]

Jane L. Jones Obituary (2024) Growing up in Somerville and Melrose, Jane graduated from Melrose High School in 1960 and dedicated her career to John Hancock Insurance, illustrating the profound impact life insurance can have on a family and community. As we reflect on her remarkable life, it’s essential to recognize the benefits of life […]

Beverly M. Derosier, 93 – A Life with Insurance Beverly M. Derosier, a longtime resident of Vermont, passed away at the age of 93. Known for her extensive career in the insurance industry, Derosier made significant contributions as an insurance agent with John Hancock. Prior to her tenure at John Hancock, she also worked with […]

Understanding Captives and Their Role in the Insurance Market As traditional insurance models face rising premiums and evolving market conditions, many brokers are exploring alternative solutions such as captive insurance companies. This increasingly viable option offers numerous benefits, including greater control over risk management and potential cost savings. The Core Benefits of Captives Captive insurance […]

Critics Worry About Personal Data in NAIC Accelerated Underwriting Effort The National Association of Insurance Commissioners (NAIC) is set to address significant concerns regarding the safeguarding of personal data during its summer meeting from August 12-15 in Chicago. The spotlight is on accelerated underwriting efforts that use algorithms and data analysis to approve life insurance […]

Elon Musk’s Tesla Gets a Breather in Insurance Class Action Elon Musk’s Tesla has recently received temporary relief in its ongoing legal battle involving allegations of overcharging for car insurance. This class action lawsuit has caught the attention of industry experts and consumers alike, as it sheds light on the intricate relationships between automotive companies […]