Industry Roundup: May 13th
Does Government Seizure of Property Constitute a 'Theft' Claim?Question: We have an insured with a homeowners insurance (HO3) policy, and she recently filed a theft claim for 350 pounds of hemp that she had stored in her home. She claims that the state's Department of Agriculture, state police, and the local sheriff conspired to steal her hemp worth a large amount of money that she had been growing to sell. How do you think the policy would respond? Workers' Compensation Numbers Indicate Strong Performance During 2020 PandemicBecause of job losses and shrinking payrolls during the pandemic recession, the workers' compensation industry's net written premium dropped…