Category: Business Insurance

A great resource for both brokers and business owners who are trying to understand what type of business policy works best for them as well as keeping up with terms and changes within the industry. Being informed on the latest business insurance news can be easy with our online resouce updated daily.

California fire station project on pause because it can’t get property insurance

Julie Campbell
Property insurance - Pause Button on Fire Station

The crisis in the state is largely from wildfires, but even those battling them can’t get insured Wildfire risk is very high in many parts of California, leading to what many have called a property insurance crisis in both the residential and business markets. Many insurers have withdrawn from selling More recently, the size of the issue became particularly clear when a project to upgrade a fire station in the area stalled due to a lack of property insurance availability. Homeowners living in California’s mountains face a particularly high wildfire…

Read More

Will this disaster break Lloyd’s of London’s marine insurance record?

G. Turner
Marine Insurance - Disaster - Francis Scott Key Bridge

The bridge collapse in Baltimore is a complex disaster and could be the largest ever The collapse of the Francis Scott Key Bridge in Baltimore at the end of last month could prove to be the largest marine insurance payout that Lloyd’s of London has ever had to make. In fact, it could be the largest insured catastrophe of its kind The loss of the bridge and all the related impacts associated with the collapse could lead to the largest ever marine insurance payout, according to Lloyd’s of London’s Chair…

Read More

PGA seeks health insurance plan funding for producers

Logan B.
Health insurance Funds - Director clip board and movie stuff

The Producers Guild of America is making the request to the industry. The Producers Guild of America (PGA) reached out to the industry earlier this month to request funding for health insurance coverage for the working producers in Hollywood. The PGA used its annual awards ceremony as its platform to reach the industry The PGA was speaking to streamers, studios, and other content companies at a large scale for their assistance in providing funding for health insurance for “qualified producers” through the line items of production budgets for movies and…

Read More

Rising ship insurance in the Red Sea causes US investors pain

Live Insurance News
Ship insurance - Rates Rising

Underwriters have been steeply raising premiums to US, UK, and Israeli firms due to risks. Ship insurance companies have been hiking premiums by as much as 50 percent for US, UK, and Israeli firms sailing through the Red Sea due to the increased risks associated with those vessels in that region. Some providers are avoiding that business due to Houthi targeting. The increased ship insurance premiums and avoidance of business traveling through the Red Sea has to do with the chance that certain vessels could be targeted by Houthis from…

Read More

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

Logan B.
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,…

Read More