California Insurance Commissioner Leaves Workers’ Comp Benchmark Rate

California Insurance Commissioner Ricardo Lara on Tuesday adopted and issued a rate for workers’ compensation insurance pure premium that he said reflects California’s still-recovering economy. Lara’s action maintains the benchmark rate at $1.45 per $100 of payroll for workers’ comp insurance, unchanged from last year. The rate is effective Sept. 1, 2022. “We’re working hard … Read more

Default Claims Against Insurer Subject to Arbitration

New You can now listen to Insurance Journal articles! A claimant seeking to recover directly from an insurer on default judgments for claims against the insurer’s policyholder, must abide by the insurer’s policy terms that mandate arbitration, the New Jersey Supreme Court has ruled. Property manager Crystal Point Condominium Association, Inc., which obtained default judgments … Read more

Reuters reveals U.S. regulators visit China for audit deal talks

Business & FinanceGovernmentPolitics 07 May 2022, 2:03 am. 1 minute Reuters exclusively reported that U.S. and Chinese regulatory officials are in talks to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, according to three people briefed on the matter. The standoff, if not resolved, could see Chinese firms kicked off New York bourses. The … Read more

UK Jensten Group Acquires UK Broker Ravenhall Risk Solutions

The Jensten Group has acquired UK broker Ravenhall Risk Solutions for an undisclosed sum. The deal, which is subject to approval by the FCA, bolsters Jensten’s regional presence in Yorkshire and is the Group’s latest step in its “buy and build” strategy. Leeds, England-based Ravenhall focuses on servicing commercial and personal clients in the region. … Read more