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The housing markets in developed countries are increasingly at risk from extreme weather events, leading to challenges in insurance availability and affordability. A new report from the Geneva Association highlights the urgent need for changes in property valuations and mortgage practices. It also calls for government-backed insurance pools to encourage homeowners to make their properties … Read more

AM Best has changed its outlook for Missouri Valley Mutual Insurance Company (MVMIC) from stable to negative. This change also comes with an affirmation of its Financial Strength Rating at B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good). MVMIC is based in Burke, South Dakota. The ratings from AM Best reflect MVMIC’s … Read more

Los Angeles County has made a significant decision this week by approving a $4 billion settlement to address nearly 7,000 claims of sexual abuse that occurred in juvenile facilities since 1959. This agreement, reached on April 4, marks one of the largest payouts for sexual abuse claims in U.S. history, surpassing a previous $2.6 billion … Read more

The Oklahoma Insurance Department is set to launch the second pilot of the Strengthen Oklahoma Homes Program, which offers residents up to $10,000 to improve their homes to meet the IBHS Fortified standard. This initiative aims to help homeowners make their properties more resilient against severe weather. Eligible residents in nine specific zip codes can … Read more

Packaging businesses are essential to many industries, from food and drink to electronics and retail. However, these companies face numerous challenges that can affect their bottom line. Issues like transportation delays, raw material shortages, inflation, and equipment failures can arise unexpectedly, making reliable insurance coverage crucial for survival. Kim Aber, a commercial lines underwriter at … Read more

Homeowners in Gulf Coast states are facing serious challenges as the home insurance market tightens. Premiums are skyrocketing, foreclosures are on the rise, and many are finding themselves without adequate coverage. This troubling situation has been highlighted in a recent report from the Insurance Fairness Project. The crisis is especially severe in states like Louisiana, … Read more

Data privacy is becoming a big concern for everyone, from the government to small businesses and individual workers. With the rise of technology, people are worried about how their data is collected, stored, and accessed. There’s little room for mistakes in today’s digital world. This year, changing data privacy laws are forcing businesses to rethink … Read more

On the evening of May 17, a tragic accident involving the Mexican naval sailing ship ARM Cuauhtémoc occurred when it collided with the iconic Brooklyn Bridge. The incident resulted in the deaths of two crew members and left at least 19 others injured. Fortunately, the Brooklyn Bridge itself sustained only minor damage, but the crash … Read more

Firefighters in New Jersey are making significant strides in battling the Jones River wildfire, which is now 75% contained as of noon on April 28. The fire has scorched approximately 15,300 acres in the Forked River Mountains Wilderness Area, part of the Ocean County Natural Lands Trust. Fire crews will remain on the scene for … Read more

A tragic boat crash in Clearwater, Florida, has left one person dead and ten others injured. The incident occurred on Sunday evening, just as the Sugar Sand Festival was wrapping up. A recreational boat collided with a Clearwater Ferry that was carrying 45 passengers after a sand-sculpting contest. Witnesses reported that the crash happened around … Read more