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Dec 09
Industry Roundup: Most Common Pet Insurance Claims of 2021; How to Win the War for Talent Amidst the 'Great Resignation'; Heading Into 2022, P/C Insurers Face 'Massive' Political Risks, Economic Uncertainty

Homeowner with 'Indestructible Mailbox' Not Liable for Accident Injuries

In a split decision, the Ohio Supreme Court majority ruled that a rural homeowner, who constructed a “mini fortress" to protect his mailbox, is not liable for a motorist's debilitating injuries after his vehicle struck the mailbox.

 

The Most Common Pet Insurance Claims of 2021

During the past five years, the average annual growth rate for pet insurance was 23.4%, according to the 2021 State of the Industry by the North American Pet Health Insurance Association (NAPHIA). At the end of 2020, more than 3 million pets were insured in North America.

 

How to Win the War for Talent Amidst the 'Great Resignation'

Whether it be premium health plans, unlimited PTO or remote work flexibility, companies today are reevaluating their benefits and perks while figuring out how to put their best foot forward to keep employees happy.

 

Heading Into 2022, P/C Insurers Face 'Massive' Political Risks, Economic Uncertainty

Property/casualty insurers head into 2022 facing “massive" political risks, an expert with the Insurance Information Institute said on Dec. 2. Economic uncertainty will also continue despite recovery trends.

 

New York City Expands Its First-In-Nation Vaccination Mandate Program

New York City is expanding its “Key to NYC" program, the first-in-nation vaccination mandate for workers and customers at indoor dining, fitness, entertainment and performance venues.

 

Property Cat Reinsurance Rates to Rise by More than 10% at Renewal

Fitch Ratings expects reinsurance rates in catastrophe-related lines of business to rise by more than 10% when contracts are renewed in January 2022, supporting the improving sector outlook for 2022.

 

Preparing for Cyber Insurance 2022 Renewals

Rate increases, reduced capacity, ransomware sublimits, coinsurance, higher deductibles and supplemental applications are all things that cyber insurance brokers and their clients must be prepared for ahead of the 2022 renewal season.

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Omicron Emergence Leads to Travel Insurance Spike

Since news of the omicron variant of COVID-19, travel insurance sales have grown 53%.

 

Defense Verdict Follows Emerging Insurance Litigation Trend

Insurance defense lawyers are increasingly contesting the application of warranties in litigation due to the failure of plaintiffs to comply with the conditions for applying the warranties for coverage.

 

Allstate Inks $232M Deal to Sell Most of Campus in Illinois

The Allstate Corp. announced it has reached an agreement to sell the property making up the majority of its campus in Northbrook, Illinois, to Dermody Properties for approximately $232 million.​


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