General Motors Co. said it will spend at least $400 million to pay victims of the 2.59 million compact cars with a potentially faulty ignition switch linked to at least 13 deaths.
While not every producer is savvy in underwriting the ever-evolving risks attached to the domestic energy market, one thing is certain: It's a boom time.
General Motors Co. will spend whatever it takes to compensate victims of accidents in Cobalts, Ions and other cars with faulty ignition switches, said Ken Feinberg, the lawyer hired to make the payments.
Have you ever had an insured who wanted to buy business interruption coverage on a vehicle or mobile equipment operated away from the insured's premises? If you did not have access to an insurer with a proprietary form for this purpose, you might have lost the account.
Specializationthe accumulation of a high degree of expertise in a particular areais a fast-growing way for agents and brokers to differentiate their firms, winning and keeping clients in the interim.
Insurance agents had many fires to extinguish in 2013. Along with long-standing challenges such as competing with direct writers, recruiting top talent and staying ahead of the tech curve, agents also had to grapple with healthcare reform (as both employer and client advisor), carrier price and underwriting changes, and maximizing...
As commercial insurance clients are becoming more cost conscious and focused on price and coverage limits more than long-term relationships, insurers must be more responsive and attentive than ever. Will businesses be willing to turn to external partners to finance their risk, or perhaps might they throw caution to the...
The New York Court of Appeals stresses the importance of the insurers duty to defend its insureds, noting that when an insurer breaches that duty, it may not rely on exclusions in the policy to avoid coverage obligations.