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Buy rental insurance through the leasing company? Read this first

We have come across several situations lately where a customer moves into an apartment complex and purchases the renters insurance provided through the complex. I’m all for the convenience, but after discussions with other agents, I’ve discovered that these policies can be missing some important coverage items. And as an insurance agent, that’s where I start to get into trouble. …

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FedEx loses bid to overturn $366 million racial bias verdict, appeals

(Reuters) — A U.S. judge rejected FedEx Corp’s request to throw out or reduce a jury’s $366 million damages award to a former black employee who said the package delivery company fired her after she complained of racial discrimination. FedEx appealed the final judgment handed down Thursday by U.S. District Judge Kenneth Hoyt in Houston in favor of plaintiff Jennifer …

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Hartford reports 19% decline in fourth quarter profit

Hartford Financial Services Group Inc. reported fourth-quarter net income of $584 million, down 19% from the same period last year. The insurer said Thursday after markets closed that its fourth-quarter core earnings rose 7% to $746 million. Hartford Chairman and CEO Christopher Swift, in an earnings webcast on Friday, characterized the quarterly results as “excellent” and exceeded expectations. For the …

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Jake from State Farm moves in for some fun commercial talk

Just as we head into the commercial frenzy of the Super Bowl, social media this week is lighting up a “Saturday Night Live” sketch that spoofed State Farm’s promise to always be there for homeowners, “24/7,” with a creepy, unlocked Jake from State Farm arrives at an insured’s home to help with a clogged toilet claim, and never leaves. Played …

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The Review Panel may hear evidence of damage caused by other events | Property Insurance Protection Law Blog

Appraisal panels have few rules to follow about what they can and cannot take into account when determining the amount of loss. In a recently decided case,1 a policyholder refused to proceed in an assessment because the panel was presented with evidence of a subsequent loss. The policyholder argued that this contravened the valuation agreement. The Court of Appeal considered: …

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Court of Appeal reinstates airline workers’ class action

A federal appeals court on Wednesday overturned a lower court and reinstated a class-action lawsuit filed by an employee of the airline group who accused the group of failing to comply with the Uniformed Services Employment and Reemployment Act, the federal law that says employees on military leave are entitled to the same rights and benefits as other workers. Casey …

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Hard market leads to the formation of cell prisoners

MIAMI – More policyholders are establishing protected cell confinements as insurance rates continue to rise, a panel of experts said. Buyers are becoming more sophisticated and are more often seeking direct access to reinsurance markets via cell captives, they said during sessions Thursday at the World Captive Forum, sponsored by Business insurance. The growth of captives is part of a …

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Aon’s revenue for the fourth quarter increased, profit decreased

Aon Plc reported Friday fourth-quarter revenue rose 2% to $3.13 billion, and organic revenue growth for the quarter was 5%. Net income fell 24% to $657 million, as currency effects and increased costs took a toll, Aon said in its earnings report before markets opened on Friday. Aon’s enterprise risk solutions business saw revenue decline 1% to $1.82 billion, as …

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Captives can strengthen ESG programs: WCF panelists

MIAMI — Captive insurers can support an organization’s environmental, social and governance programs, regardless of the political environment in different states, experts say. They spoke Thursday during a panel session at the World Captive Forum, sponsored by Business insurancein response to a question from the audience about how prisoners can be used given the different political and legislative environment in …

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