insurance news

In response to the truck driver shortage experienced last year, retail giant Walmart took a novel approach by offering its vast workforce of 1.6 million employees the opportunity to learn how to drive a big rig for the company. This initiative included attractive first-year salaries of up to $110,000 and a comprehensive 12-week training program. […]

California is making strides in its commitment to environmental sustainability, with a new bill in the statehouse aimed at addressing insurance data gaps for heavy-duty trucks and truck fleets that utilize advanced fuels and related technologies. This move comes as part of the state’s broader initiative to transition to zero-emission vehicle truck standards. The Clean […]

In 2022, the underwriting results of workers’ compensation insurers outshone the rest of the U.S. property/casualty (P/C) commercial sector. This success is attributed to the long-term decrease in workplace accidents and a reduction in fraudulent claims, as reported by an industry segment report from A.M. Best. Favorable Loss Reserve Development The report highlights that the […]

In a recent landmark case, Arizona Beverages USA LLC emerged victorious in a lawsuit against a Hanover Insurance Group unit. The dispute centered around coverage for business interruption caused by a computer breakdown. This case has set a precedent, providing clarity on what constitutes extra expenses incurred by insureds to avoid or reduce business interruption. […]

In a recent legal case, Johnson & Johnson, a multinational corporation known for its consumer goods, was ordered to pay $18.8 million to a California man who claimed to have developed cancer due to exposure to the company’s baby powder. This case serves as a stark reminder of the potential financial implications businesses may face […]

In a recent ruling that has sent ripples through the business insurance sector, a federal appeals court upheld that an insurance policy cannot cover a building that was non-existent at the time the policy was issued. This decision, favoring a unit of Hanover Insurance Group, has significant implications for businesses and their commercial property insurance […]

The Occupational Safety and Health Administration (OSHA) has recently announced a national emphasis program aimed at mitigating workplace hazards in warehouses, processing facilities, distribution centers, and other establishments classified as “high-risk retail.” This initiative is a response to the growing concerns over the safety of these workplaces, which have seen a surge in accidents parallel […]

The issue of opioid use in workers compensation cases has been a topic of concern for many years. However, recent data suggests a shift in the trend, with a decrease in opioid prescriptions but an increase in prescriptions for managing opioid dependency. This article delves into these trends and discusses the importance of workers compensation […]

In an unprecedented legal victory, a Pennsylvania dentist has successfully claimed insurance for business losses incurred due to the COVID-19 pandemic. This landmark case, involving Dr. Timothy A. Ungarean, DMD, D/B/A Smile Savers Dentistry, PC, has set a significant precedent for similar cases in the future. The state Supreme Court’s decision to hear this case, […]

Childcare providers play a crucial role in society, nurturing and educating children during their most formative years. However, the challenges they face are often overlooked. This article explores the struggles and triumphs of childcare providers, focusing on a specific case study: Rockin’ Round the Clock, a childcare center in Ohio. The Challenges of Childcare Providers […]

Autonomous Trucks: The Answer to Highway Safety and Business Efficiency A concerning toll of over 12,250 casualties from road accidents marked 2020 in Riverside County, California, leaving behind an irreversible void in many families and communities. With nearly 10% of California’s accidents involving trucks, and a third of long-distance truck drivers witnessing severe crashes during […]

Hampton’s Food Truck Scene: 2024 Vision Get ready for a culinary explosion on wheels in Hampton by 2024. The city administration is set to reinvigorate the food truck industry by making policy changes that will encourage more food truck businesses and simplify the bureaucratic processes they face, as per a statement from the city’s authorities. […]

Reducing Emissions through Innovative Partnerships Einride, the Swedish company pioneering self-driving electric trucks, is set to make a significant environmental impact in Norway, expecting to slash CO2 emissions by 2,100 tonnes within the next three years. This ambitious goal is part of their collaboration with PostNord, Scandinavia’s premier postal service. Norway’s Environmental Prowess Known for […]

Delivery powerhouse UPS is setting new industry standards by agreeing to include air conditioning in its signature brown delivery trucks, a move that not only prioritizes driver safety but could also influence commercial truck insurance costs. The agreement was reached with the Teamsters union during ongoing negotiations for a new contract, covering over 340,000 unionized […]

As the backbone of the global supply chain, the trucking industry has proven its resilience time and again, especially in the face of increasing operational costs. One such cost component that has been making waves in the industry is commercial truck insurance. Despite these rising expenses posing substantial challenges, the industry is using them as […]

In an innovative approach to talent acquisition, Schneider National, a leading player in the transportation and logistics industry, is merging the realms of video gaming and commercial trucking. Recognizing the potential of reaching a tech-savvy audience with interests aligned with the industry, the company has embarked on a unique journey to recruit its next generation […]

The trucking industry, a vital cog in the global economy, has always been a space of constant movement and change. Today, it stands at an interesting intersection where traditional business models coexist with emerging technological trends. As firms seek to improve efficiency, reduce costs – such as those related to commercial truck insurance – and […]

Insurance is a fundamental pillar of modern society, providing financial security against unforeseen circumstances. From homeowners protecting their most valuable asset to businesses safeguarding against liability, insurance plays a crucial role in mitigating risk. However, the rapidly changing conditions brought about by climate change are challenging the traditional models of the insurance industry. The Role […]

In a tale of two insurers, State Farm Insurance has reaffirmed its commitment to Florida, even as Farmers Insurance reduces its coverage in the state. This divergence in strategy comes amidst a challenging period for Florida’s insurance market, marked by the high cost of hurricane damage claims and recent industry reforms. This article explores the […]

Insurance companies are caught in a complex puzzle: how to maintain profitability in a world where the risk of expensive disasters is escalating, yet high premiums are burdening policyholders and provoking state regulators. This article explores this dilemma, focusing on the recent decision by Farmers Insurance to cease renewing nearly a third of its policies […]

In the labyrinth of global markets, the trucking industry provides a telling barometer of economic health and change. The COVID-19 pandemic, a historic period of disruption and unpredictability, was no exception. This industry, traditionally resilient, encountered an unexpected boom-and-bust cycle that left many observers flummoxed. But behind this puzzle lies a tale of supply and […]

In the realm of carrier scoring systems, the Federal Motor Carrier Safety Administration’s (FMCSA) CSA Safety Measurement System (SMS) is on the verge of significant changes. The FMCSA’s recent solicitation for public comments on these proposed modifications concluded last week, attracting a mixed bag of reactions from industry stakeholders. While the proposed changes have generally […]

Cybersecurity risks have escalated, driving businesses to buttress themselves technically and financially. With the average U.S. data breach cost soaring to $9.44 million, a significant leap from the global mean of $4.35 million, the right insurance has become indispensable. In 2022, the global cyber insurance market worth was $13.33 billion and is projected to reach […]

The landscape of cyber insurance is witnessing a significant shift, with loss ratios showing a substantial improvement in 2022, according to a report from Toronto-based Morningstar. This revelation marks a turning point for the industry, which experienced a notable surge in loss ratios from 2018 to 2020, leading to higher insurance rates and a hardened […]

The landscape of workers’ compensation insurance is evolving, with a trend toward more competitive rates in many regions. According to recent analysis by S&P Global Market Intelligence, the first quarter of this year saw decreased workers’ compensation insurance rates in 36 states. This shift could potentially bring about substantial savings for businesses that make an […]

Dollar General Corp., a well-known discount retailer, is once again under scrutiny as the Occupational Safety and Health Administration (OSHA) uncovers safety hazards in nine of its stores. This investigation has resulted in a further $3.4 million in proposed penalties for the corporation, bringing its total fines since 2017 to more than $21 million. Four-State […]

Georgia residents may soon be uninsured as over 35,000 health insurance holders with Friday Health Plan must seek alternative coverage by the end of July, following the state’s decision to assume control of the financially troubled insurer. Placed Under State Control: The Georgia Insurance Commissioner declared the Friday Health Plan, a health insurance provider, as […]

Tension is mounting in Philadelphia as thousands of Medicaid beneficiaries are required to reapply for their coverage, a mandate that hadn’t been implemented since March 2020. A new wave of data from the Pennsylvania Department of Human Services has raised concerns that a substantial number of these recipients may be deemed ineligible, thereby losing their […]

Even with recent notable capital influxes, the cyber insurance and reinsurance industry’s primary challenge remains securing sufficient capital, as detailed in a new white paper by Gallagher Re, a global reinsurance broker. The report, “The Crucial Need for Capital in Cyber Insurance and Reinsurance,” suggests that cyber insurance will never quite be over-capitalized. The focus […]

A federal appellate court has sustained a lower court’s verdict favoring a group of insurers, including Liberty Mutual Insurance Group divisions, in a product liability coverage disagreement. The court found that the misrepresentation of the origin of coffee beans does not constitute disparagement. Based in Nunica, Michigan, L&K Coffee LLC, a coffee roaster and vendor, […]

As autonomous vehicles’ adoption accelerates, insurance carriers will be at the forefront — yet, unanswered questions persist regarding product safety and liability. The Inevitable Advent of Autonomous Vehicles The dawn of self-driving cars has lingered tantalizingly on the edge of reality for a while. However, this scenario is swiftly transforming. Autonomous taxis are already in […]

In the face of skyrocketing property prices and intensifying wildfire threats, Californian home buyers are now encountering a new hurdle: procuring an insurance provider for their prospective homes. State Farm General Insurance Co., just last week, announced its discontinuation of new property and casualty coverage applications in California. This move is in response to the […]

Ron DeSantis, the governor of Florida, is officially on the campaign trail for presidency, adopting a provocative stance against what he terms the “malignant ideology” of the left and “the woke mob”. With promises to mold the rest of the U.S. in the image of his “free state of Florida”, his attention appears to be […]