Industry Roundup: Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1

​Court Says Federal Law Preempts, Tosses New York Suit Over Amazon Worker SafetyA New York state appeals court on Tuesday dismissed state Attorney General Letitia James' lawsuit accusing Amazon.com Inc. of failing to adequately protect thousands of workers at two New York City facilities against COVID-19.Munich Re Writes Down $740M Bonds Over War in UkraineMunich Re incurred steep losses on Russian and Ukrainian bonds in its investment portfolio and warned of risks to its outlook from the conflict between the two countries, along with volatile markets and the pandemic.Claims Frequency Up for 2021, but Workers' Comp Profitability 'Unprecedented'For the first time in more than a…

Continue ReadingIndustry Roundup: Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1

Industry Roundup: ​Help Wanted as New York City Implements Law Requiring Salary Ranges in Job Ads; Live Event Insurance Changes Call on Agents to Review Coverages; The Average Length of Time for Collision-Related Rentals Grows

​​Connecticut Legislators Pass Consumer Data Privacy 'Bill of Rights'Consumers in Connecticut will be able to know when their personal information is being tracked and how it's being used under a wide-ranging data privacy bill that's headed to Gov. Ned Lamont's desk.Help Wanted as New York City Implements Law Requiring Salary Ranges in Job AdsJust four months ago, city lawmakers voted to require many ads for jobs in the nation's most populous city to include salary ranges, but lawmakers will likely vote to postpone it for five months after employers waved red flags.Live Event Insurance Changes Call on Agents to Review CoveragesCarriers are introducing new targeted…

Continue ReadingIndustry Roundup: ​Help Wanted as New York City Implements Law Requiring Salary Ranges in Job Ads; Live Event Insurance Changes Call on Agents to Review Coverages; The Average Length of Time for Collision-Related Rentals Grows

Industry Roundup: What is Jackware?; ​More Than 80% of Flood Policyholders Expected to see Premiums Increase; Top Five Reasons for Insurance Complaints in 2021; Two-Thirds of Employees Might Seek New Jobs if Forced Back to Office

​More Than 80% of Flood Policyholders Expected to see Premiums IncreaseWhen the Federal Emergency Management Agency (FEMA) rolled out a major overhaul to its beleaguered National Flood Insurance Program last April, it promised that bigger, richer homes would bear the brunt of premium increases, while almost 90 percent of policyholders would see their costs stay stable or decrease. Injured Passengers in Rental Car Not Entitled to Payment Under UIM CoverageThe West Virginia Supreme Court reversed summary judgment in favor of two plaintiffs, finding they were not covered under the driver's underinsured motorist (UIM) coverage because they were passengers of a rented vehicle that was not a…

Continue ReadingIndustry Roundup: What is Jackware?; ​More Than 80% of Flood Policyholders Expected to see Premiums Increase; Top Five Reasons for Insurance Complaints in 2021; Two-Thirds of Employees Might Seek New Jobs if Forced Back to Office