Plastic Pollution: A New Threat to the Insurance Industry? Plastic pollution isn’t just an environmental crisis anymore. It’s becoming a financial and legal nightmare for businesses—and their insurers. Microplastics are showing up in food, water, and even human bodies. The risks? They’re piling up. But here’s the big question: is the insurance industry ready for this? The Growing Problem Plastics are everywhere. Over 9 billion tons have been produced since the 1950s. Most of it? Not recycled. Instead, it ends up in landfills, oceans, and ecosystems. As it breaks down,…
Read MoreTag: liability coverage
OPINION Article: Why the Ghost Gun Debate Has Huge Implications for Insurance Costs
Ghost Guns, Big Lawsuits, and Insurance Drama What happens when New York sues firearm manufacturers, claiming their products are fueling violence? You’d expect a legal showdown between the state’s attorney general and the gun companies. But what if insurance companies are suddenly dragged into the mess? Yep, it gets complicated. And that’s exactly what’s happening in the ongoing lawsuit over ghost guns, with major players like AIG and an insurance trade group stepping into the ring. Where do insurance companies fit into this? Here’s the deal. New York filed this…
Read MoreUmbrella Insurance Policies: A Vital Shield Against Unexpected Liabilities
The world today presents individuals and businesses with increasingly complex risks. From auto accidents to home liabilities and even social situations, the potential for significant financial disruption looms large. That’s where umbrella insurance policies come in, offering vital supplemental coverage for situations that exceed the limits of standard insurance policies. The Rising Cost of Liability and Broadening Risks Over the past decade, demand for umbrella insurance has grown substantially, driven by escalating claims and payouts. According to Safeco Insurance, umbrella claims doubled from 2010 to 2020, with payouts surging by…
Read MoreDo You Require Commercial Truck Insurance?
Large vehicles, such as trucks, used for company operations are expressly covered by commercial truck insurance. Tractor-trailers and other commercial truck kinds like the following are included in this: Trucks that haul trash Delivery vans Mixers for cement Tow vehicles Additional commercial vehicles In general, vehicle insurance with a focus on transportation companies and commercial truck drivers is known as commercial truck insurance. Various insurance may be required, depending on the kind of business you operate, to cover all potential responsibilities both legally and financially. Generally, commercial truck insurance covers…
Read MoreState Farm Legal Showdown: Exposing the Hidden Risks of Non-Owned Vehicles
State Farm and Their Legal Battle Over a Loaner Car In a developing legal case, a former sports radio host finds themselves embroiled in a dispute with the insurance company over liability coverage following a 2022 motor vehicle accident. The incident occurred while the host was driving a vehicle owned by a local dealership during their employment at a media group. The vehicle was provided as part of a promotional agreement or an informal perk related to their work at the station. Insurance Coverage Dispute State Farm argues that they…
Read MoreWhy Snowmobile Insurance is Essential for President’s Day Weekend
President’s Day weekend sees a surge in snowmobiling, making insurance crucial before hitting the trails. Understanding snowmobile insurance costs and coverage can protect you from unexpected expenses. Factors like your snowmobile’s make and model, your age, driving record, and location influence your premium. Knowing these details not only prepares you financially but also ensures a safe and enjoyable ride. So, gear up for this President’s Day weekend with the right insurance coverage. Factors Influencing Insurance Premiums The cost of snowmobile insurance is influenced by a range of factors similar to…
Read MoreMercury Insurance says California’s bodily injury costs are rising
The insurer’s new umbrella coverage provides Californians with enhanced protection against these claims. Mercury Insurance has announced that it has relaunched its umbrella coverage after a redesign in order to provide Californians with an added protection layer above what a standard home or auto policy has to offer. The coverage is meant as an added safety net in a state that is becoming increasingly litigious. A news release from Mercury Insurance said that liability claim amounts are now 66 percent higher than they were before the pandemic, having climbed with…
Read More