Mindblown: a blog about philosophy.
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Treasury and IRS Issue Guidance Deferring Certain Payroll Tax Obligations
August 28, 2020 WASHINGTON – The U.S. Treasury Department and Internal Revenue Service (IRS) released guidance today on President Donald J. Trump’s memorandum of August 8, 2020 directing the Secretary of the Treasury to use his authority to defer certain payroll taxes. The guidance allows employers to defer withholding and paying the employee’s portion of the…
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What Is A Surety bond?
What Is A Surety bond? A surety bond is a contractual agreement that involves three parties, namely the principal, the surety, and the obligee. It is a risk management plan primarily designed to ensure commitment towards an agreement in business practices. If you are a contractor, you may not be able to bid for or…
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Property/Casualty Insurance Industry Suffered Largest-Ever Drop in Surplus in the First Quarter of 2020
September 07, 2020 (Jersey City, NJ, Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – Insurance providers face several challenges, including the largest-ever quarterly decline that came in the first quarter of 2020. The surplus for the private property/casualty insurance industry fell $75.9 billion with the stock market’s downturn, Verisk and the American…
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Average premium renewal rates experience variable change across all major commercial lines month over month
September 06, 2020 (Tampa, FL, Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – The July results of the IVANS Index, which shows the insurance industry’s premium renewal rate index, show that all lines of business saw increases in average premium renewal rates, except for Workers’ Compensation, which declined. July premium renewal rates…
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Verisk Telematics Data Integrates with Honda Now, giving new opportunities for usage-based insurance innovation
September 03, 2020 (Jersey City, NJ, Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – On Aug. 6, Verisk announced that auto insurers can access information from owners of connected Honda and Acura vehicles to help Verisk in delivering their usage-based insurance (UBI) programs to a wider audience. “Data from consenting Honda drivers…
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IVANS Index for 2020 Second Quarter shows increasing premium renewal rates year over year
September 02, 2020 (Tampa, FL, Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – On July 9, IVANS (a division of Applied Systems) announced that in the second quarter of the year, the IVANS index showed an increase in the average premium renewal rate change for nearly all major commercial lines of business,…
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Progressive offers pet insurance
September 1, 2020 (MAYFIELD VILLAGE, Ohio, and Boise, Idaho, Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – Individuals bond with their pets, and it’s become increasingly obvious just how important that bond is. More and more, people are looking for insurance that can help them to pay when their cherished pet suffers…
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ISO Introduces Optional Endorsement for Damage to Underground Utility Lines
August 30, 2020 (Jersey City, N.J., Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – On July 16, ISO launched a homeowners insurance endorsement that covers damage to underground utility lines. That’s not always part of a standard homeowners’ insurance policy, and it’s also not always covered by the cities where the lines…
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Second Quarter Nonfarm Business Sector Report, Preliminary
August 27, 2020 (Washington D.C., Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – United States Bureau of Labor Statistic released the second quarter non-farm business sector labor productivity preliminary report on August 14, 2020. According to the report, labor productivity increased by 7.3 percent while output decreased by 38.9 percent. The…
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Marsh reveals global commercial insurance pricing increase of 19% in 2020 Q2
August 26, 2020 (New York NY, Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – For the eleventh quarter in a row, the global commercial insurance pricing increased in the second quarter of this year, Marsh’s quarterly Global Insurance Market Index revealed. The Global Market Index measures the change of global commercial insurance…
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