Month: May 2021

Article 0 Comments Earlier this month, the Colorado Senate passed a bill prohibiting insurance companies from using any external consumer data and information source, algorithm or predictive model for insurance premium calculation found to be unfairly discriminatory. Two weeks prior, on April 28, Washington State Insurance Commissioner Mike Kreidler sent a letter to members of
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Commercial insurance is not one-size-fits-all, but there are features that even very different businesses have in common. Offices are an exposure that nearly every business has, from accounting firms to web engineers, and from one-person offices to a ten-story office building filled with hundreds of professional employees. The coverage your business needs will depend on
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Article 0 Comments This post is part of a series sponsored by Old Republic Surety. Fidelity bonds differ from liability insurance and errors and omissions insurance. They protect against corporate crime. Does your commercial client’s business own valuable assets or expensive equipment? Maintain a large inventory? Have employees who can access their customers’ assets? Consider
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Article 0 Comments Insurance Services Office (ISO) has released to Big I’s Virtual University the upcoming Homeowners’ multi-state filing tentatively effective beginning in March 2022. Yes, 2022. Eleven years have passed since ISO’s last major multi-state filing, so this is major. Within this filing, ISO: Introduced 13 new forms and endorsements; Revised 120 forms and
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According to the Bureau of Labor Statistic’s Employer-Related Workplace Injuries and Illnesses News Release, which published on November 4, 2020, the total number of injuries per 100 full-time workers remained unchanged from the year before at 2.8 million. Accidents and injuries happen, but the common goal is to limit the number of injuries and keep employees as safe as possible. When
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The combination of different efforts by governments to vaccinate their populations against COVID-19, as well as the geographically varied return of passenger demand and aircraft service, point to a recovery that remains largely uncertain, McGill and Partners said. The company’s new report focuses on the impact of COVID-19 on the aviation industry and the long-term
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Anti-money laundering rules should not be applied to general insurance, according to the Global Federation of Insurance Associations (GFIA). It believes that general insurance poses almost non-existent risk of money laundering or the financing of terrorism. The GFIA published a position paper Thursday arguing that policymakers should follow the risk-based approach promoted by the Financial
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