Category: Specialty Insurance

Special lines insurance covers everything from supplemental health insurance to cell phone insurance. When researching these markets many find this as a great source of information.

Nick Cannon’s $10M Insurance: A New Spin on Family Planning

G. Turner
Body Part Insurance Policy

The body part insurance industry has recently gained a little more buzz after Nick Cannon insured his testicles for $10 million. The proud father of 12, and host of “The Masked Singer” has captivated the media once again. Although Cannon is famous for a variety of different roles, it seems that his recent insurance choices have thrust him into the limelight yet again. While some call it a publicity stunt and others see it as a shrewd financial move, the decision has everyone talking. “It started off like, ‘Yo, this…

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House Bill 116 and the Fight to Insure Alaska’s Commercial Fishing Industry

Logan B.
Alaska’s Commercial Fishing Industry

Alaska’s Fishing Industry Faces Commercial Insurance Crisis For Alaska’s commercial fishermen, the rising cost and dwindling availability of insurance have created choppy waters in an already challenging industry. Insurance premiums for fishing vessels have surged, and older boats are finding it nearly impossible to gain coverage. Some fishermen are even contemplating leaving the industry, unable to bear the financial risk. The numbers tell a sobering story. Alaska’s seafood industry suffered a $1.8 billion economic hit between 2022 and 2023, and higher insurance costs aren’t helping matters. Many older vessels, though…

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Rewriting Arkansas Rules for Liability in Off-Road Motorcycles Under Act 312

Marc
Rewriting Arkansas Rules for Liability in Off-Road Motorcycles

Arkansas Act 312 Paves the Way for Safer, Sustainable Off-Road Recreation Arkansas has made a bold leap into the world of off-road recreation liability with the passage of Act 312, signed into law by Governor Sarah Huckabee Sanders on March 18. This new legislation, which introduces the concept of “inherent risk” for off-road motorcyclists, is aimed at striking a delicate balance between participant responsibility and landowner liability. The law not only protects event organizers and private landowners but also lays down a framework that could help the off-road industry flourish.…

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Tesla Insurance Tweaks Draw Mixed Reactions From Drivers and Insurers

Angela Linders
Tesla

Tesla’s Risky Move to Refine Risk Ratings Tesla Insurance Services Inc. has once again landed in the spotlight—but this time, it’s about subtraction, not innovation. The electric vehicle (EV) giant recently announced it would no longer use forward-collision warnings as part of its proprietary Safety Score Beta program. This comes on the heels of ongoing lawsuits alleging some controversial practices inflated premiums for Tesla drivers. The move raises eyebrows, not just for what it says about Tesla’s insurance ambitions but also for the broader debate on telematics and consumer privacy.…

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Hazing Prevention Matters, But What About Hazing Insurance? Lessons From Northwestern

Angela Linders
Hazing Prevention

Northwestern University Hazing Settlements Reshape Liability Landscape for Higher Education Northwestern University, a prestigious institution often celebrated for its academics and athletics, is now under scrutiny for an unfolding hazing scandal that has rocked its reputation. The university recently entered a provisional settlement resolving claims of hazing, sexual abuse, and racial discrimination among its football players. While the terms of the settlement remain confidential, the ripple effects on the broader landscape of liability insurance for educational institutions are undeniable. For universities and insurers alike, this case serves as a stark…

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J&J’s Settlement Drama Exposes Cracks in Liability Insurance Playbooks

Nordstrom
Liability Insurance

J&J’s $10 Billion Settlement Rejected: Ripple Effects on Insurance and Risk Management Johnson & Johnson’s latest attempt to settle over 60,000 lawsuits with a $10 billion bankruptcy plan has hit yet another wall. It’s the third time courts have rejected the healthcare giant’s “Texas two-step” bankruptcy strategy, leaving both legal experts and insurance professionals buzzing. But this isn’t just corporate news; the ruling sends shockwaves through liability insurance and risk management landscapes, raising questions about how companies handle legal exposure in a litigious era. Legal Setback: Understanding the Judge’s Decision…

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State Farm Proposes 39% Rate Hike for California Umbrella Policies, Sparking Debate

G. Turner
State Farm's Proposed Rate Hike

State Farm General Insurance Company has proposed a 39% rate increase for its California Personal Liability Umbrella Program, a move that could impact over 430,000 policyholders statewide. If approved by the California Department of Insurance (CDI), the hike would take effect in August 2025, marking the second major increase in just six months. This development has raised concerns among consumers and advocacy groups, as California’s insurance market continues to deal with rising costs and regulatory challenges. Understanding State Farm’s Rate Hike Proposal The proposed rate hike is part of State…

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