After spending about $380 billion over the past decade to nearly double wind power capacity in Europe, utilities are now turning to an obscure and little-known market to protect themselves against a prolonged bout of calm weather. The wind drought …
Month: June 2025
When a Neighborhood Floods, Foreclosures Often Follow
As climate change worsens extreme weather around the US, floods are increasing the risk of home foreclosure, according to a new report by First Street Technology Inc., a climate-data company. A big part of the reason why is that unlike …
Size of Florida’s Slide Insurance Exec Compensation Has Tongues Wagging
When Tampa-based Slide Insurance registered for an initial public stock offering last week, one page of the filing quickly had people talking in the Florida insurance industry. On page 132 of the filing with the U.S. Securities and Exchange Commission …
Oregon OSHA Fines Contractor for Repeatedly Violating Excavation Safety Rules
The Oregon Occupational Safety and Health Division fined Hillsboro-based Renner Trucking and Excavating Inc. $80,804 for repeatedly violating rules intended to protect workers from trenches caving in. Oregon OSHA issued a citation to the company on May 12 following an …
AM Best Upgrades Velocity Specialty Insurance After Acquisition by FM
AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Velocity Specialty Insurance …
FastBond: Simplifying Smaller Bid Performance and Payment Bonds for Agents and Contractors
This post is part of a series sponsored by Old Republic Surety. “We’ve targeted tight turnaround times from submission to approval using Old Republic Surety’s (ORS) FastBond process — the faster, the better,” says Todd Taylor, CPCU, AFSB. As an …
Q1 Has Lowest Insurance Agency M&A in 5 Years; Mega Deals Coming?
The first three months of 2025 were the slowest quarter for insurance agency mergers and acquisitions since Q2 2020, according to investment banking and financial consulting firm OPTIS Partners. The total number of insurance agency M&As during first-quarter 2025 was …
Crafting a Marketing Strategy: Essential Steps for Insurance Professionals to Stay Ahead
An insurance marketing strategy outlines how a business will reach prospective clients, convert them into customers, and retain them over time. It’s a structured plan that considers available resources, target audience needs, competitive landscape, and industry trends to align marketing …
California Commissioner Launches Smoke Claims & Remediation Task Force
A new task force has been formed to develop standards in California for insurance coverage and clean-up of smoke-damaged homes. California Insurance Commissioner Ricardo Lara announced the formation of a Smoke Claims & Remediation Task Force within the California Department …
Report: California Workers’ Comp Combined Ratio Highest in 14 Years
Written premiums in California stabilized in 2022 through 2024 after the large swings during the pandemic, while the combined ratio rose to the highest level in 14 years, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California …