Massachusetts' Insurance Commissioner Approves Workers' Compensation Rate Decrease

Gary Anderson, the state's Insurance Commissioner, recently approved a 3.6% decrease in workers' compensation rates effective July 1, 2022. Massachusetts businesses will save $80 million as a result. The rate cut was negotiated after the Workers' Com...

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Experts Predict Active Hurricane Season in the Atlantic

Experts from Colorado State University are predicting that 19 named storms will emerge from June 1 through November 30. Of those 19 named storms, about 9 are expected to develop into hurricanes, and 4 have the potential to become Category 3, 4, or 5 ...

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Pennsylvania Approves Workers’ Compensation Cost Cut

As of April 1, 2022, Pennsylvania businesses should begin to see a decrease in their premiums due to a loss-cost filing from Acting Insurance Commissioner, Michael Humphreys, which includes a 6.25% loss-cost reduction. Though, Humphreys stated that n...

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Insurers Seek Policies on Diversity, Pay Equity, and COVID

Increased frequency and severity of lawsuits related to social movements and social inflation has been the largest cost driver of employment practices liability insurance (EPLI). In recent years, employers have been managing discrimination concerns s...

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Lexington Insurance Pulling Out of Florida and Other Markets for High-End Homes

On August 1, 2022, Lexington Insurance will be discontinuing its personal lines division nationwide. Many affluent homeowners in the Florida market will not be provided coverage through the AIG company. AIG plans to relocate high net worth homeowners...

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