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One in three employer compensation dollars now goes to benefits
4+ day, 6+ hour ago (295+ words) Benefits now account for exactly 30 percent of what private-sector employers pay per hour worked - $14.07 of a $46.89 total, according to the Bureau of Labor Statistics' Employer Costs for Employee Compensation (ECEC) report for June. Wages made up the remaining 70 percent, at…...
LA County Probing Farmers Insurance Over Wildfire Survivor Claims
4+ day, 10+ hour ago (470+ words) LOS ANGELES (CNS) - Los Angeles County is investigating Farmers Insurance Company's handling of insurance claims filed by policy holders affected by the January 2025 Eaton and Palisades Fires, officials announced Unfair Competition Law and ``follows growing complaints from residents about delays,…...
IUMI warns of hidden cargo insurance costs
5+ day, 7+ hour ago (394+ words) The International Union of Marine Insurance (IUMI) has published new guidance highlighting an often-overlooked risk for marine cargo insurers - non-compliant wood packaging material, the pallets, crates and dunnage used to ship goods internationally, and the disruption that follows when regulators…...
NSW workers compensation premium model faces first review in a decade
2+ week, 4+ hour ago (411+ words) Brokers have a formal seat in deciding how New South Wales workers compensation premiums are calculated from 2028, after the state government opened consultation on the first comprehensive review of icare's nominal insurer premium model in more than a decade. Read…...
Taiwan labour insurance hike adds $413m to business costs
2+ week, 5+ day ago (215+ words) More than 10.51 million workers will pay higher contributions next year. Taiwan’s labour insurance contribution rate will rise by 0.5 percentage point to 13% in 2027, reaching the statutory ceiling under the Labour Insurance Act. The increase is expected to raise insurance costs for…...
Insurance claims begin to be filed following storm
2+ week, 6+ day ago (58+ words) Inbox.lv Insurance claims begin to be filed following storm Insurers could obtain more accurate loss estimates in the next two to three days. "It's too early to talk about the total amounts, but the amounts will be large. They…...
Freight's green switch is creating a claims gap for brokers
2+ week, 6+ day ago (770+ words) Electric lorries that cost more to repair than to insure, cargo ships with no agreed fuel strategy, and a maritime sector operating under guidelines formalised only months ago: a Reuters Events and AXA XL report sets out the insurance risks…...
Florida employers could see a 7.4% average reduction in workers’ comp costs
2+ week, 6+ day ago (429+ words) Florida employers could see another round of decreases in the costs of their workers’ compensation insurance. The National Council on Compensation Insurance (NCCI) is recommending that workers’ compensation rates be reduced by an average 7.4% beginning Jan 1, 2027. NCCI is the licensed…...
Guardian approaches 80% settlement rate on Melissa claims
3+ week, 3+ day ago (275+ words) Jamaica Gleaner Regional insurance provider Guardian Holdings Ltd has settled more than 70 per cent of insurance claims arising from Hurricane Melissa, Group CEO Ian Chinapoo said last Friday. “So, as of June, we were in the region of 70 per cent....
California Court Rules Policyholders Can Sue Excess Insurers Before Lower Coverage Exhausted
3+ week, 6+ day ago (304+ words) California’s Supreme Court issued a significant ruling clarifying when policyholders may pursue legal claims against excess insurers before the underlying layers of coverage have been fully exhausted. The case arose from a business dispute between the cofounders of Fox Paine…...