2023
Defenses to the Tort of Bad Faith
Insurers in states where the tort of bad faith exists (almost every state) who deny fraudulent insurance claims with fear and trembling. The specter of punitive damages has worked to make multi-millionaires of many insurance criminals who convince insurers to settle rather than take a chance on a trial of a suit alleging the insurer acted in bad faith.
Top Insurance Attorney Joins Arent Fox
One of the sharpest insurance attorneys in New York is now a Partner at Arent Fox, an emerging insurance powerhouse. Huhnsik Chung, has joined the firm’s Complex Litigation and Insurance & Reinsurance groups bringing more than three decades of experience advising clients nationally and internationally in the highly regulated financial and insurance sectors. To disclose, […]
NAIC Foundation Board Members Share Update at NAIC Meeting
During the National Association of Insurance Commissioners’ (NAIC) recent National Meeting, the board members of the New Avenues to Insurance Careers Foundation reported to state insurance regulators on their progress in setting up the Foundation. NAIC Past President and former South Carolina Insurance Director Ray Farmer, NAIC Past President and former Kentucky Insurance Commissioner George […]
Big ‘I’ Sees Win as Congress Passes Spending Bill
Government funding measure extends NFIP and includes key crop insurance provisions. The Big “I” applauded the U.S. Senate and House of Representatives for passing legislation that would extend the National Flood Insurance Program (NFIP) and support crop insurance agents, all as part of government funding legislation. “We are grateful that the passage of this government […]
NAIC Members Elect 2023 Officers
Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2023 in December. The following officers were elected for 2023: • President: Missouri Insurance Director Chlora Lindley-Myers. Chlora Lindley-Myers was confirmed as the director of the Missouri Department of Commerce and Insurance on April 13, 2017. • President-Elect: Connecticut Insurance Commissioner Andrew N. Mais. Andrew N. Mais was nominated […]
NAIC Releases Homeowners Insurance Report
The National Association of Insurance Commissioners (NAIC) has released its Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner’s Insurance Report: Data for 2020, which provides validated data on market distribution and average cost by policy form and amount of insurance. The report compiles national and state-specific premium and exposure information for non-commercial […]
ACORD Names Top InsurTech Leaders 2022
ACORD & Alchemy Crew Recognize Women Leaders in Insurance Technology for Driving Change through Collaboration, Sustainability & Inclusion, and Global Ecosystem-Building ACORD, the global standards-setting body for the insurance industry, announced its annual InsurTech Leaders list developed in conjunction with Alchemy Crew, whose co-founder & CEO Sabine VanderLinden has herself been a perennial member of ACORD’s […]
Active Shooter
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor The number of active/mass shooter events has increased alarmingly in recent years. While there is no set definition of an active/mass shooting event, they are generally deemed to include four or more injuries or deaths and occur in a public setting, such […]
