August
Big ‘I’ 2023 Market Share Report: Growth in Independent Agencies
Slow but steady growth, includes increase in homeowners market share.
The independent agent is holding his own showing slow, steady gains in lines of business penetration, including homeowners, according to the Big “I” 2023 Market Share Report.
The annual Market Share Report compiles and analyzes property and casualty premium data from AM Best and provides insights for agencies and carriers on current market shares by distribution types.
New York’s Economic Recovery – The $150 Billion Solution
This month I have invited a friend and colleague to submit an article about a sensational idea he is steering in New York. While it may appear in financial and other NY publications, we have it exclusively in Insurance Advocate. Enjoy the balance of Summer, SA New York’s economic recovery hinges on innovative solutions […]
U.S. Employers Budget for 3.8% Pay Increases in 2024– Payscale
• 78% of organizations in the United States and 81% in Canada say that their 2024 salary increase budget is the same or higher compared to last year • 2024 pay increases are predicted to be 3.8% on average in the United States • Pay increases were 4% on average in the United States in […]
DEMOTECH: Report Updates RRG Results
By Douglas A Powell, Sr Financial Analyst at Demotech A review of the reported financial results of risk retention groups (RRGs) reveals insurers that continue to collectively provide specialized coverage to their insureds while remaining financially stable. Based on reported financial information, RRGs have a great deal of financial stability and remain committed to maintaining […]
Drug Crisis Impact Increases
The United States is currently experiencing the worst drug crisis in its history, believed by many to have been exacerbated by pandemic lockdowns and increased trafficking at our borders (cfr.org). The crisis impacts individuals, families, and society as a whole. Helping clients understand the prevalence and dangers of drug overdoses is another value-added service of […]
Creative Pleading Does not Avoid Punishment for Sloth
In late 2018 or early 2019, plaintiff noticed that on two occasions an elderly neighbor stumbled and fell as she descended plaintiff’s outside staircase and learned that the pitch of the stairs had changed and that to make the stairs safe the staircase needed to be replaced. In late April 2019, plaintiff authorized the work […]
Man Bites Dog
State Farm Obtains Injunction Against Doctor to Stop Fraudulent No Fault Accident Claims State Farm alleged common law fraud and unjust enrichment, seeking damages for benefits paid under no-fault insurance policies to Kotkes. State Farm also sought a declaratory judgment establishing that, among other things, it is not obligated to pay unpaid, pending claims submitted […]
No Coverage After Expiration of Policy
Insurers Should Avoid Suing Each Oth The United StatesCourt of Appeals for the Ninth Circuit certified to the California Supreme Court, the following question for our review: “Under California’s Motor Carriers of Property Permit Act (Veh. Code, § 34600 et seq.; the Act), does a commercial automobile insurance policy continue in full force and effect […]
Is a Covid-19 Lawsuit Frivolous?
Ninth Circuit Is Exhausted by Covid Insurance Claims Suit Khatchik Hairabedian d/b/a Kris Mobil (“Khatchik”) appealed from the district court’s order granting Defendant Security National Insurance Company’s (“Security”) motion to dismiss this action for insurance coverage in Khatchik Hairabedian, Dba Kris Mobil v. Security National Insurance Company, a Texas Corporation, No. 22-55355, United States Court […]
