Hurricane Ian places more strain on Florida’s insurance crisis

Hurricane Ian - A hurricane over Florida

Last week’s massive storm could prove to be among the most expensive in the country’s history. It remains too early to know precisely how much damage Hurricane Ian left behind as measured in dollars, but experts from Enki Research expect that the massive storm will likely have caused between $30 billion and $60 billion in damages and economic losses. The storm struck the west coast of Florida at 150 miles per hour and smashed its way through the state. The insurance industry currently predicts that it will face losses of…

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The Differences Between State Funded and Competitive Workers’ Comp

Competitive Workers' Comp

As a business owner, the last thing you would want is for an employee to get hurt at work. However, if you run a business long enough, an accident is bound to happen eventually, especially if you work in a high-risk industry. When an employee is injured on the job, they’ll have medical expenses that need to be paid, they may not be able to work while they recover, and in worst-case scenarios, they may sue you for a settlement. Fortunately, this is where workers’ compensation insurance comes into play.…

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Mortgage insurance market moves toward private sector away from CMHC

mortgage insurance canada

The Canadian Mortgage and Housing Corp. appears to be losing its grasp on this space. For many years, the Canada Mortgage and Housing Corporation (CMHC), a Crown corporation, has held a considerable dominance over the mortgage insurance market in the country, but that situation appears to be changing. Its rivals in the private sector are now taking a greater hold on the market and is scooping up a bigger share. During the first quarter of 2014, the CMHC provided mortgage insurance for 27,869 housing units for borrowers whose down payment…

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State agency to refund businesses over high unemployment insurance rates

Several businesses in South Carolina are about to receive refunds from the Department of Employment and Workforce as the state Legislature reaches a decision on what to do with a surplus of funds. Businesses have had a turbulent past with unemployment insurance rates in the past as the state made attempts to free itself from federal debt. The Department of Employment and Workforce had offered insurance coverage for businesses at rates far lower any private insurance company could offer. This quickly put the agency in financial turmoil as it ran…

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