Is the federal crop insurance program keeping up with climate change?

Crop insurance - A person touching wheat

Few changes have been made in the program despite rising risks associated with global warming. Risk has always been a part of farming, particularly due to its dependence on the weather in any given season or year, and crop insurance has become a key part of the survival of many farms across the United States. That said, risks associated with weather have been changing, but the program has altered very little. The massive federal crop insurance program has helped farmers to ensure their businesses survive in times of flooding, drought,…

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Nikola D&O liability insurance problems are holding up settlements

Liability insurance - Law

The zero-emission vehicle maker intends to resolve claims, but its insurers aren’t budging with approvals. Nikola Corp, the electric and hydrogen fuel cell vehicle company, is resorting to a Delaware court with claims that its directors and officers (D&O) liability insurance companies are getting in the way of settlement proposals from being completed in the Court of Chancery, the District of Delaware, and the District of Arizona. The automaker filed a complaint in the Complex Commercial Litigation Division of the Delaware Superior Court. In Nikola Corp’s suit, it said that…

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Allianz points to D&O business liability insurance advantages in tough 2024

D&O Business liability insurance Form - 2024

The insurer predicts that there will be a spectrum of challenges worldwide that will boost coverage importance. According to a recent report issued by Allianz Commercial with regards to Directors and Officers (D&O) business liability insurance, there are so many challenges occurring worldwide that it is unlikely that the market’s soft conditions will be able to continue. Some of the largest threats to this type of coverage are expected to worsen as 2024 gets going. The authors of the Allianz Commercial 2024 D&O Insurance Report predicted that professional lines would…

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Business insurance is growing for added tax and litigation protection

Business insurance growth

Rising risks are driving companies to purchase more coverage against potential financial losses. For the last year, business insurance coverage for tax and litigation have been sharply on the rise and experts are predicting that this trend will only continue in the same direction. As companies increasingly learn of these benefits, they are pushing their coverage to higher levels. Mergers and acquisitions as well as other commercial deal structures have been transformed by the addition of these forms of business insurance during the last couple of decades. They have provided…

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4.9 percent workers’ compensation rate hike coming to Washington

Workers compensation - Person looking stressed

The Washington State Department of Labor & Industries announced the increase for 2024. Next year, the average workers compensation premium in Washington will be 4.9 percent higher, according to a recent announcement from the state’s Department of Labor & Industries. The rate increase will become effective on January 1, 2024, and will be paid jointly by workers and employers. The workers compensation rate increase will mean that every full-time employee’s premium will be rising by an average of $65 per year. That cost will be split between workers and employees.…

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