Article 0 Comments SAN FRANCISCO —Fifteen Black former or current employees at Tesla filed a lawsuit against the electric car maker on Thursday, alleging they were subjected to racial abuse and harassment at its factories. The workers said they were subjected to offensive racist comments and behavior by colleagues,... Read more
Published on: 2022-07-01
By Admin
Article 0 Comments POOLESVILLE, Md. (AP) — When environmentalist Brent Walls saw a milky-white substance in a stream flowing through a rural stretch of central Pennsylvania, he suspected the nearby rock mine was violating the law. Recent rains had filled the ponds at the mine that allow sediment to... Read more
Published on: 2022-07-01
By Admin
Alex Glickman (pictured), senior managing director of Gallagher’s global real estate and hospitality practice, said insureds must lead with strong, defensible data and be ready to prove the soundness of their methodology in obtaining those values. “The first step is understanding the valuations and making sure that the replacement cost... Read more
Published on: 2022-07-01
By Insurance Business
Anthony R. O’Donnell // July 1, 2022 (Image source: UAIC homepage.) United Automobile Insurance Company (UAIC, Miami), a property/casualty insurance carrier focused on the non-standard automobile market, has selected Cloverleaf Analytics, a provider of business intelligence utilizing machine learning. UAIC will use Cloverleaf to solve a major problem facing... Read more
Published on: 2022-07-01
By Anthony O'Donnell
Article 0 Comments The 9th Circuit Court of Appeals on Thursday revived a whistleblower lawsuit against Walmart Stores that alleges the retailer violated California labor laws by failing to pay employees for the time they spent waiting at security checkpoints after clocking out. The appellate panel reversed a US... Read more
Published on: 2022-07-01
By Jim Sams
Article 0 Comments BERLIN (AP) — Authorities in Austria declared a civil emergency Wednesday after some villages in the southern state of Carinthia were cut off by mudslides and flooding following heavy rainfall. One person was killed and another was reported missing. Residents of the villages of Treffen and... Read more
Published on: 2022-06-30
Article 0 Comments BRIDGEPORT, Calif. (AP) — A wildfire that erupted in Northern California forced evacuations as it threatened about 500 homes and other buildings Tuesday, authorities said. The Rices Fire erupted at around 2 p.m. near the Yuba River in Nevada County and had spread to more than... Read more
Published on: 2022-06-30
Article 0 Comments Two employees with a North Carolina company say they were fired after refusing to participate in the firm’s daily Christian prayer meetings, which they said went against their respective religious beliefs, according to a lawsuit filed by the Equal Employment Opportunity Commission. The lawsuit, which seeks... Read more
Published on: 2022-06-30
By Admin
Victoria Price // June 30, 2022 (Image source: Insight Risk homepage.) Insight Risk (Westport, Conn.), a technology-driven, builders’ risk-focused MGA, has deployed ChainThat’s Beyond Policy Administration (BPA), a next-generation policy administration platform. ChainThat (London) is an Xceedance(Boston), company specializing in SaaS platforms for the global insurance sector. Chad Hollingsworth, President, Insight Risk.... Read more
Published on: 2022-06-30
By Anthony O'Donnell
Article 0 Comments Duck Creek Offering ODG Treatment Guidelines Duck Creek Technologies is integrating commercial treatment guidelines commonly used for workers’ compensation and auto claims into its claims management program. The Boston-based tech company said in a press release that it has formed a partnership with ODG by MCG,... Read more
Published on: 2022-06-30
By Admin
Anthony R. O’Donnell // June 29, 2022 (Image credit: Shutterstock.) Verisk (Jersey City, N.J.),  a global provider of data analytics to the insurance industry, has announced the launch of a first notice of loss (FNOL) service within its ClaimSearch solution. The vendor says that property/casualty insurers using the solution... Read more
Published on: 2022-06-29
By Anthony O'Donnell
Article 0 Comments U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires and drought are becoming more common in the... Read more
Published on: 2022-06-29
By Admin
Article 0 Comments The Texas Railroad Commission, which oversees the state’s oil and natural gas industries, approved a proposed weatherization rule to help protect Texans during emergencies that could occur any time of the year. The proposed rule is the latest in a series of regulations to avoid another... Read more
Published on: 2022-06-29
Article 0 Comments ALBUQUERQUE, N.M. (AP) — U.S. President Joe Biden on Monday authorized an increase in funding for debris removal and other emergency measures being taken as a result of a historic wildfire season in New Mexico that stemmed partly from missteps by federal forest managers in starting... Read more
Published on: 2022-06-29
By Admin
Article 0 Comments BRENTWOOD, Calif. (AP) — Three women killed when an Amtrak commuter train smashed into their car in Northern California were headed to a fundraiser at a vineyard for a Brentwood resident who died less than a week ago. The crash occurred Sunday around 1 p.m. in... Read more
Published on: 2022-06-29
Anthony R. O’Donnell // June 29, 2022 (Image source: Service Lloyds homepage.) Service Lloyds Insurance Company (Austin, Texas), a nationwide workers’ compensation insurer, has adopted software from Gradient AI, an enterprise software provider of artificial intelligence (AI) solutions, to better predict risk and improve the pricing accuracy of workers’ compensation policies. Jacob... Read more
Published on: 2022-06-29
By Anthony O'Donnell
“We’re thrilled to be able to engage these three very talented students in the work we do as a growing global insurance start-up,” said Lisa Fontanetta, chief of staff at Mosaic. “Not only are they getting an immersion in their respective fields of focus, but they’re also networking with team... Read more
Published on: 2022-06-29
By Insurance Business
Article 0 Comments A Florida accident victim gets a second chance to compel an auto insurer to pay a $12.7 million judgment as a consequence of failing to respond to a $10,000 settlement offer, under a decision Tuesday by a federal appellate court. A divided panel of the 11th... Read more
Published on: 2022-06-29
By Jim Sams
Article 0 Comments PHOENIX (AP) — The skies over a scattering of Western U.S. cities will stay dark for the third consecutive Fourth of July as some major fireworks displays are canceled again this year, this time for fire concerns amid dry weather, along with pandemic related supply or... Read more
Published on: 2022-06-28
By Admin
Article 0 Comments A growing number of large US companies have said they will cover travel costs for employees who must leave their home states to get abortions, but these new policies could expose businesses to lawsuits and even potential criminal liability, legal experts said. Amazon.com Inc., Apple Inc.,... Read more
Published on: 2022-06-27
By Admin
Article 0 Comments The medical profession in New Hampshire is accusing the insurance industry of using “junk science” in justifying its denials of Covid-related business insurance claims. In an amicus brief in a case between a hotel chain and eight insurers, the New Hampshire Medical Society blasts the insurers... Read more
Published on: 2022-06-27
By Andrew G. Simpson
Article 0 Comments The U.S. Supreme Court on Monday rejected another Bayer AG bid to dismiss litigation alleging that its Roundup weedkiller causes cancer as the German pharmaceutical and chemical giant tries to avoid potentially billions of dollars in damages. The justices turned away a Bayer appeal and left... Read more
Published on: 2022-06-27
By Admin
Article 0 Comments ANKARA, Turkey (AP) — A wind-stoked wildfire that has been raging near a popular resort in southwestern Turkey has been largely brought under control, President Recep Tayyip Erdogan said Friday. The blaze erupted Tuesday in the Bordubet region, near Marmaris on the Aegean Sea coast, and... Read more
Published on: 2022-06-27
And following a review of the complete record and feedback, the OIR has finally established rates for Citizens’ Coastal Account (CA), Commercial Lines Account (CLA), and Personal Lines Account (PLA). A release said that the effective date for new and renewal rates is September 01, 2022. The rates are as... Read more
Published on: 2022-06-27
By Insurance Business
Denver-based essential supply chains insurer Parsyl has opened an office in London, bringing in a UK underwriting team for Parsyl’s Lloyd’s Syndicate 1796. The data-fuelled cargo insurance company, which insures shippers of sensitive goods such as vaccines, has snapped up Kristopher Kimble, Henry Wood, and Ed Colclough from Aon,... Read more
Published on: 2022-06-26
By Insurance Business
Article 0 Comments MIAMI (AP) — A judge gave final approval Thursday to a settlement topping $1 billion for victims of the collapse of a Florida beachfront condominium building that killed 98 people, one of the deadliest building failures in U.S. history. The decision by Miami-Dade Circuit Judge Michael... Read more
Published on: 2022-06-24
By Admin
Article 0 Comments ANKARA, Turkey (AP) — Firefighting crews battle for a third day on Thursday a wind-driven wildfire that has blackened swaths of pine forest near a popular resort in southwestern Turkey and driven dozens of people from their homes. More than 2,500 firefighters, aided by water-dropping planes... Read more
Published on: 2022-06-24
Read more: Revealed – which auto insurers are top for customer satisfaction? J.D. Power polled almost 37,000 auto insurance policyholders from January to April and found that customer satisfaction when it came to premium prices dropped five points to 769 (on a 1,000-point scale) from 2021. Overall satisfaction with auto... Read more
Published on: 2022-06-24
By Insurance Business
It was also noted that while two major hurricanes made landfall in Florida since 2016 – 2017’s Irma and 2018’s Michael – there have been no direct hits over the past three hurricane seasons, from 2019 to 2021. And yet Florida accounts for 79% of all homeowners’ insurance lawsuits filed... Read more
Published on: 2022-06-24
By Insurance Business
Article 0 Comments A divided Arkansas Supreme Court ruled Thursday that plaintiffs may proceed with a class-action lawsuit that accuses Shelter Mutual Insurance Co. of illegally discounting payments for medical treatment provided to automobile insurance claimants. In a 4-3 decision, the high court found that Pulaski County Circuit Court... Read more
Published on: 2022-06-24
By Jim Sams
Anthony R. O’Donnell // June 23, 2022 (Image source: Betterview.) Betterview, an InsurTech provider of actionable property intelligence to insurers, has announced the addition of Hurricane Risk Insights to the Betterview Property Intelligence & Risk Management Platform. David Tobias, COO and Co-Founder, Betterview. Betterview recently introduced Wildfire Risk Insights... Read more
Published on: 2022-06-23
By Anthony O'Donnell
Article 0 Comments BEIJING (AP) — Major flooding has forced the evacuation of tens of thousands of people in southern China, with more rain expected. The manufacturing hub of Guangdong suspended classes, office work and public transport amid rising waters and the threat of landslides. In the neighboring province... Read more
Published on: 2022-06-23
Article 0 Comments MADRID (AP) — Extended drought conditions in several Mediterranean countries, a heat wave last week that reached northern Germany and high fuel costs for aircraft needed to fight wildfires have heightened concerns across Europe this summer. And it’s only June. “Much of the continent is in... Read more
Published on: 2022-06-23
By Admin
Article 0 Comments WAPITI, Wyo. (AP) — Visitors returned Wednesday morning to a changed landscape in Yellowstone National Park as it partially reopened following record floods that reshaped the park’s rivers and canyons, wiped out numerous roads and left some areas famous for their wildlife viewing inaccessible, possibly for... Read more
Published on: 2022-06-23
By Admin
Article 0 Comments SYLHET, Bangladesh (AP) — Scientists say climate change is a factor behind the erratic and early rains that triggered unprecedented floods in Bangladesh and northeastern India, killing dozens and making lives miserable for millions of others. Although the region is no stranger to flooding, it typically... Read more
Published on: 2022-06-23
By Admin
“Lexington’s decision to discontinue their program is another reminder of the hard market conditions we’re facing today. Their portfolio is heavy in Florida, so it will create reduction in overall capacity there,” said Rachel Salter, Burns & Wilcox, regional practice leader, Gulf Region. A slew of insurers have dramatically reduced... Read more
Published on: 2022-06-23
By Insurance Business
Article 0 Comments A motor-vehicle accident victim who fired his lawyer and asked for more money must still accept the $17,500 settlement that his counsel agreed to before she was dismissed, the Georgia Court of Appeals ruled Wednesday. An appellate panel reversed a trial court that found Ernest Butler... Read more
Published on: 2022-06-23
By Jim Sams
Anthony R. O’Donnell // June 22, 2022 (Image credit: Kit Suman/Unsplash.) Ledger Investing, a New York-based InsurTech startup, announced that it has raised $75 million in Series B funding led by WestCap (New York), with participation from Teachers’ Venture Growth (TVG, Toronto) and Intact Ventures(Toronto), and previous investors: SignalFire,... Read more
Published on: 2022-06-22
By Anthony O'Donnell
Article 0 Comments A forest fire burning in southern New Jersey was 85% contained as of midday Tuesday, and firefighters were confident it would not spread beyond perimeter lines they had created. The fire in Wharton State Forest is believed to have been caused by an illegal, unattended campfire... Read more
Published on: 2022-06-22
By Admin
Article 0 Comments SYLHET, Bangladesh (AP) — Villagers in northeastern Bangladesh crowded makeshift refugee centers and scrambled to meet boats arriving with food and fresh water as massive floods, which have killed dozens of people and displaced hundreds of thousands there and in neighboring India, continued to wreak havoc... Read more
Published on: 2022-06-22
By Admin
Anthony R. O’Donnell // June 21, 2022 (Image credit: Zak Gudakov/Unsplash.) MMG Insurance Company (Presque Isle, Maine) has selected Betterview’s Property Intelligence & Risk Management Platform, to strengthen the company’s current risk management processes, according to a Betterview statement. Derek Hochradel, VP, commercial lines, MMG. Founded in 1897, MMG... Read more
Published on: 2022-06-21
By Anthony O'Donnell
Anthony R. O’Donnell // June 21, 2022 (Image credit: Zak Gudakov/Unsplash.) MMG Insurance Company (Presque Isle, Maine) has selected Betterview’s Property Intelligence & Risk Management Platform, to strengthen the company’s current risk management processes, according to a Betterview statement. Derek Hochradel, VP, commercial lines, MMG. Founded in 1897, MMG... Read more
Published on: 2022-06-21
By Anthony O'Donnell
Article 0 Comments Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state’s offer to buy their place and tear it down. Nearly three years later, they’re still waiting... Read more
Published on: 2022-06-21
By Admin
Article 0 Comments DHAKA, Bangladesh (AP) — Authorities in India and Bangladesh struggled Monday to deliver food and drinking water to hundreds of thousands of people evacuated from their homes in days of flooding that have submerged wide swaths of the countries. The floods triggered by monsoon rains have... Read more
Published on: 2022-06-21
By Admin
“I am excited about this new opportunity and look forward to working with this talented team as we drive toward underwriting excellence,” said Hengesbaugh. “In my time with the board, I have watched GuideOne evolve and diversify to meet the changing demands of the market.” Andy Noga, who has been... Read more
Published on: 2022-06-21
By Insurance Business
“Fairfax is very happy to partner with Olivier Goudet and JAB Holding Company,” said Prem Watsa, founder, chairman and CEO of Fairfax. “JAB has had an outstanding track record over the past 10 years and we expect this to continue. While we have sold our pet insurance business to JAB,... Read more
Published on: 2022-06-20
By Insurance Business
Anthony R. O’Donnell // June 20, 2022 (Image source: INSTANDA homepage.) INSTANDA (London), creator of a no-code customer and policy management platform for the insurance industry, has announced the close of a $45 million fundraising led by Toscafund, a London-based growth equity investment firm for financial services companies, with the... Read more
Published on: 2022-06-20
By Anthony O'Donnell
Article 0 Comments LOS ANGELES (AP) — A Southern California regional passenger rail service announced Thursday that is testing technology that will use the West Coast’s earthquake early warning system to automatically slow or stop trains before shaking begins. The five-county Metrolink system said the technology is an advancement... Read more
Published on: 2022-06-20
Article 0 Comments GAUHATI, India (AP) — Massive flooding and mudslides in northeastern India’s Assam state have claimed eight more lives, officials said Sunday, taking the death toll to 62 from weeks of heavy rains that caused one of Asia’s largest rivers to overflow. Assam’s disaster management agency said... Read more
Published on: 2022-06-20
By Admin
Article 0 Comments TUCSON, Ariz. (AP) — Four non-scientific buildings at the Kitt Peak National Observatory southwest of Tucson were lost in a wildfire, but early indications show other buildings on the property didn’t appear to be damaged, authorities said Saturday. Buell T. Jannuzi, who leads the Department of... Read more
Published on: 2022-06-20
Article 0 Comments BARCELONA, Spain (AP) — Firefighters in Spain and Germany struggled to contain wildfires on Sunday amid an unusual heat wave in Western Europe for this time of year. The worst damage in Spain has been in the northwest province of Zamora where over 25,000 hectares (61,000... Read more
Published on: 2022-06-20
By Admin
Article 0 Comments Created in 1872 as the United States was recovering from the Civil War, Yellowstone was the first of the national parks that came to be referred to as America’s best idea. Now, the home to gushing geysers, thundering waterfalls and some of the country’s most plentiful... Read more
Published on: 2022-06-20
By Admin
Article 0 Comments A decade ago, it was questionable sinkhole damages that proliferated in Florida property insurance claims. More recently, “free roof” solicitations, roof claims and thousands of lawsuits have rattled the industry. Now comes cast iron drainpipes, common in homes built before 1975. The pipe systems have become... Read more
Published on: 2022-06-20
By William Rabb
Insurance CEOs are also engaging their chief financial officers on sustainability at a higher rate of 55%, compared to their business peers at47%, as it becomes increasingly clear that environmental, social and governance (ESG) frameworks are no longer optional. Read next: ESG challenges growing more important for boards of directors... Read more
Published on: 2022-06-20
By Insurance Business
Of the 3,881 lawsuits it was served, Citizens noted that 3,832 lawsuits involved residential properties. And of those 3,832 lawsuits, 2,880 were from the Miami-Dade, Broward, and Palm Beach counties. As reported by CBS News Miami, Citizens also indicated that it has 18,455 pending lawsuits as of April 30, 2022.... Read more
Published on: 2022-06-20
By Insurance Business
Article 0 Comments The summer solstice, which begins Tuesday, has historically been a cause of celebration for cultures throughout the Northern Hemisphere. But various catastrophe projections released in recent weeks are making the insurance industry’s midsummer night’s dream look like a nightmare. Analysts are projecting an above-average number of... Read more
Published on: 2022-06-20
By Jim Sams
Article 0 Comments Severe weather has forced Abbott Nutrition to pause production at a Michigan baby formula factory that had just restarted after being closed for several months, contributing to a national shortage. Production for Abbott’s EleCare specialty formula has been suspended, but there is enough supply to meet... Read more
Published on: 2022-06-17
By Admin
Article 0 Comments BILLINGS, Mont. (AP) — Damaging floodwaters that tore through Yellowstone National Park menaced communities downstream where residents cleaned up from the mess and kept an eye on rising river levels while others braced for the economic fallout while the park remains closed. After wiping out miles... Read more
Published on: 2022-06-17
By Admin
Insurance company adoption of fixed-income ETFs has been on the rise for the past five years, according to Ben Woloshin, head of SPDR Insurance at State Street Global Advisors. He explained why: “It’s because of the look-through nature of fixed-income ETFs. You can see the holdings on a daily basis,... Read more
Published on: 2022-06-17
By Insurance Business
Article 0 Comments MAUSTON, Wis. (AP) — Powerful storms that included at least one tornado took down power lines and trees, damaged structures, toppled semis on the interstate and left tens of thousands without electricity in parts of Wisconsin. In western Wisconsin, a tornado damaged barns and homes in... Read more
Published on: 2022-06-17
Victoria Price // June 17, 2022 (Image source: Golden Bear homepage.) Golden Bear Insurance Company (Stockton, Calif), a commercial, professional liability, and residential insurance provider, has selected Guidewire (San Mateo, Calif.)  ClaimCenter on Guidewire Cloud to power claims management, simplify IT operations, adapt more quickly to changing market demands,... Read more
Published on: 2022-06-17
By Anthony O'Donnell
Louisiana insurance commissioner Jim Donelon recently held a press conference to address the cancellation of about 29,000 policies by the insurance company Lighthouse Excalibur. Years of severe storms have led to expensive insurance claims in the state, overwhelming insurance companies to the point of forcing several of them –... Read more
Published on: 2022-06-17
By Insurance Business
WTW has released the results of its latest global survey entitled ‘IFRS 17: Will we make it?’, polling 270 insurers from 45 countries – including 26 large multinationals – on material progress they have made since WTW’s last IFRS 17 poll in 2021. The results reveal a huge amount... Read more
Published on: 2022-06-16
By Insurance Business
Article 0 Comments Volkswagen AG and its Porsche AG unit have agreed to a class-action settlement worth at least $80 million to resolve claims it skewed emissions and fuel economy data on 500,000 Porsche vehicles in the United States, court documents show. The settlement, filed in U.S. District Court... Read more
Published on: 2022-06-16
By Admin
Article 0 Comments The federal investigation into the deadly collapse of a Florida beachfront condominium building is entering a new phase that involves cutting and drilling into concrete and steel to determine what role they played in the disaster, officials said Wednesday. The National Institute of Standards and Technology... Read more
Published on: 2022-06-16
By Admin
Article 0 Comments RED LODGE, Mont. (AP) — The forces of fire and ice shaped Yellowstone National Park over thousands of years. It took decades longer for humans to tame it enough for tourists to visit, often from the comfort of their cars. In just days, heavy rain and... Read more
Published on: 2022-06-16
By Admin
Article 0 Comments SALEM, Mass. (AP) — A Massachusetts man charged with setting fire to The Satanic Temple’s headquarters in Salem was ordered held without bail Monday. Daniel Damien Lucey, 42, of Chelsea, pleaded not guilty to arson, destruction of a place of worship and civil rights violation charges... Read more
Published on: 2022-06-16
Lloyd's of London has re-appointed Bruce Carnegie-Brown for his third term as chairman, running from June 2022 until June 2025. Since his appointment as Lloyd's chairman in 2017, Carnegie-Brown has set the corporation's strategic decision and overseen the market’s significant progress against its four strategic pillars: performance, digitalization, culture,... Read more
Published on: 2022-06-16
By Insurance Business
Article 0 Comments FLAGSTAFF, Ariz. (AP) — The northern Arizona city of Flagstaff is synonymous with mountains — lush with ponderosa pines, meadows and hiking trails that are a respite from the desert heat. Now, parts of them are burning yet again, fueled by winds that grounded air resources... Read more
Published on: 2022-06-15
By Admin
Article 0 Comments MILWAUKEE (AP) — A child and two adults were missing after they were swept away in a drainage ditch in Milwaukee following severe thunderstorms that brought heavy rains and damaging winds to a wide swath of the Midwest and parts of the South, authorities said. Witnesses... Read more
Published on: 2022-06-15
Article 0 Comments HELENA, Mont. (AP) — Communities bordering Yellowstone National Park were isolated and tourists stranded Tuesday after record floodwaters knocked out roads and bridges in Montana and Wyoming and forced the closure of all entrances to the park. The flooding followed a torrent of rain that combined... Read more
Published on: 2022-06-15
By Admin
Article 0 Comments A New York appellate court on Tuesday handed a rare policyholder win to the New York Botanical Garden for income lost during COVID-19 shutdowns, noting that the disputed policy language did not require physical damage. The Botanical Garden, a well-known tourist attraction that covers 250 acres... Read more
Published on: 2022-06-15
By Jim Sams
Article 0 Comments Freeport LNG, operator of one of the largest U.S. export plants producing liquefied natural gas (LNG), said on Tuesday that last week’s fire damage to its Texas plant would keep it fully offline until September with only partial operation through year-end, raising the risk of gas... Read more
Published on: 2022-06-14
By Admin
Article 0 Comments LONDON –– Britain’s biggest pubs group Stonegate, which is suing Zurich Insurance and two peers for 1 billion pounds ($1.2 billion) over lockdown losses, battled the COVID-19 pandemic “day by day, venue by venue,” a London trial heard on Monday. Ben Lynch, a lawyer for Stonegate,... Read more
Published on: 2022-06-14
By Admin
Article 0 Comments PHOENIX (AP) — The Maricopa County Sheriff’s Office has reached an $11.75 million settlement in a lawsuit involving a jail attack that seriously injured an inmate more than two years ago. The county’s Board of Supervisors approved the settlement for the family of Brian Ortiz, who... Read more
Published on: 2022-06-14
Article 0 Comments Attorneys who worked to secure settlements topping $1 billion in the collapse of a beachfront Florida condominium building in which 98 people died are requesting about $100 million in fees and costs, according to a new court filing. The total represents a discount of as much... Read more
Published on: 2022-06-14
By Admin
Article 0 Comments WRIGHTWOOD, Calif. (AP) — Wildfires in Arizona and California forced evacuations as crews work to corral the blazes, authorities said. Firefighters are responding to a wildfire about 6 miles (9.6 kilometers) north of Flagstaff, Arizona, that has forced evacuations. The Pipeline Fire was reported at 10:15... Read more
Published on: 2022-06-14
Canopius Group has announced the appointment of Paul Western as head of US casualty treaty. Western will be based in London and will report to Christopher Gray, head of specialty reinsurance. Western has more than 30 years of industry experience. He joins Caopius from Optio Group, where he served... Read more
Published on: 2022-06-14
By Insurance Business
A record number of serious collisions, spiking used-vehicle prices and rising repair costs have forced auto insurers to raise rates. This, in turn, has spurred a sharp decline in customer satisfaction with the price of auto insurance, according to a new study from J.D. Power. However, industry efforts to... Read more
Published on: 2022-06-14
By Insurance Business
Article 0 Comments A doctrine that prevents parties from seeking reimbursement for intangible economic losses caused by maritime negligence doesn’t prevent an insurer from recouping $1.7 million it paid to a policyholder for damage to a structure used to moor boats, a panel of the 5th Circuit Court of... Read more
Published on: 2022-06-14
By Admin
Article 0 Comments ANCHORAGE, Alaska (AP) — The largest documented wildfire burning through tundra in southwest Alaska was within miles of two Alaska Native villages, prompting officials Friday to urge residents to prepare for possible evacuation. This came a day after dozens of elders and residents with health concerns... Read more
Published on: 2022-06-13
By Admin
Article 0 Comments REDDING, Calif. (AP) _ Pacific Gas & Electric on Thursday pleaded not guilty to involuntary manslaughter and other charges it faces after its equipment sparked a wildfire that killed four people and destroyed hundreds of homes in Northern California two years ago, prosecutors announced. PG&E was... Read more
Published on: 2022-06-13
GEICO faces a potential $5.2 million payout to the woman, who claimed she was unknowingly infected with sexually transmitted HPV (human papillomavirus) while having sexual intercourse with a policyholder in his automobile, following a Missouri Court of Appeal ruling. The carrier has filed a federal lawsuit, which it has said... Read more
Published on: 2022-06-13
By Insurance Business
Article 0 Comments Verisk Appoints Claims Solutions President Maroun Mourad Verisk announced that Maroun Mourad will succeed Rich Della Rocca as president, claims solutions on July 1. “We have a deep and talented bench of executives at Verisk, and Maroun was selected from a strong group of diverse internal... Read more
Published on: 2022-06-13
By Admin
Article 0 Comments New MGA Peddling Water Loss Sensors A New York City-based managing general agent is bundling builders risk insurance policies with sensors to detect leaks and prevent water damage, a significant source of claims. Insight Risk said when a contractor buys coverage, it installs water-, temperature- and... Read more
Published on: 2022-06-13
By Admin
Article 0 Comments TEHRAN, Iran (AP) — A passenger train traveling through eastern Iran struck an excavator and nearly half its cars derailed before dawn on Wednesday, killing at least 22 people and injuring 87, officials said. The derailment near the desert city of Tabas was the latest disaster... Read more
Published on: 2022-06-10
By Admin
Article 0 Comments FRIENDSHIP, Ark. (AP) — Traffic remained blocked Thursday morning in westbound lanes of heavily traveled Interstate 30 in southwestern Arkansas, where at least three people were killed the previous day during a series of crashes that happened during stormy weather, authorities said. The Wednesday afternoon crashes... Read more
Published on: 2022-06-10
Article 0 Comments SEOUL, South Korea (AP) _ A fire caused by suspected arson spread through an office building Thursday in South Korea’s Daegu city, killing at least seven people and injuring dozens, fire and police officials said. Dozens of firefighters and vehicles quickly put out the blaze, which... Read more
Published on: 2022-06-10
By Admin
Article 0 Comments ORLANDO, Fla. (AP) — The owner of a commercial nursery has won a $1.2 million judgment against the Florida Department of Agriculture in the latest verdict against the state agency for destroying citrus trees in the 2000s during an attempt to stop the spread of costly... Read more
Published on: 2022-06-10
Article 0 Comments The 5-Star Safety Rating Program that Americans use when shopping for new passenger vehicles “fails consumers” by not including collision-avoidance and other technology in the ratings and is approaching “near irrelevance,” National Transportation Safety Board Chair Jennifer Homendy said. In March, the National Highway Traffic Safety... Read more
Published on: 2022-06-10
By Admin
The underwriting veteran has publicly alleged that current GuideOne acting CEO Andy Noga, at the time general counsel for the carrier, called him a “f*ggot” at a public dinner and embarked on a “vigorous” personal campaign against him that led to his dismissal days before he was due a bumper... Read more
Published on: 2022-06-10
By Insurance Business
Hoboth was the sixth employee of the fidelity/crime division when she joined Great American in 1997. She has held various leadership positions within the company, most recently serving as divisional senior vice president. During her tenure, she oversaw most fidelity/crime underwriting offices, as well as its specialty underwriting group and... Read more
Published on: 2022-06-10
By Insurance Business
Article 0 Comments UMIA Insurance refused to accept an $800,000 settlement in a malpractice suit against a plastic surgeon who shared nude before-and-after photographs of a patient’s body with a Fox News affiliate. The insurer could pay more than three times that amount under a decision Thursday by the... Read more
Published on: 2022-06-10
By Jim Sams
“I’m delighted to join Mosaic’s board in this role and at this time,” commented Foulger, who serves on the boards of several other public and private entities. “Mosaic’s business model is exciting – it’s re-shaping the industry – and its values and culture truly resonate with me. “The passion, commitment,... Read more
Published on: 2022-06-09
By Insurance Business
Article 0 Comments Europe’s natural gas prices jumped after a fire at a large export terminal in the US wiped out deliveries to a market that’s on high alert over tight Russian supplies. Benchmark futures traded in Amsterdam snapped a six-day falling streak, while UK prices soared as much... Read more
Published on: 2022-06-09
By Admin
Article 0 Comments ALBUQUERQUE, N.M. (AP) — The destruction caused by the largest wildfire burning in the U.S. has been devastating for thousands of residents and their lives have been forever disrupted and altered, New Mexico’s governor said Tuesday after touring the damage in one county. Gov. Michelle Lujan... Read more
Published on: 2022-06-09
By Admin
On completion, the business would have an enterprise value of $13bn and employ 12,000 people across 45 countries.  The partnership is expected to represent $400m of combined reinsurance revenues and provide clients with access to 450 experts across more than 30 offices, Howden said. Howden said the acquisition represents its... Read more
Published on: 2022-06-09
By Insurance Business
Article 0 Comments ST. LOUIS (AP) — After a record-setting Midwestern rainstorm that damaged thousands of homes and businesses, Stefanie Johnson’s farmhouse in Blandinsville, Illinois, didn’t have safe drinking water for nearly two months. Flood water poured into her well, turning the water a muddy brown and forcing Johnson,... Read more
Published on: 2022-06-09
By Admin
Assuming pending deals close, McKinsey said at the time, private investors were set to own 12% of life and annuity assets in the US – or $620 billion’s worth. The foothold represents more than a third of US net written premiums of indexed annuities, while all five of the largest... Read more
Published on: 2022-06-09
By Insurance Business
Anthony R. O’Donnell // June 9, 2022 (Image source: ClaimBender homepage.) Insurity (Hartford), a provider of cloud-based software for insurance carriers, brokers, and MGAs, has formed a partnership with ClaimBender (Fernandina Beach, Fla.) to reduce workers’ compensation costs for customers through actionable data and analytics. ClaimBender combines a digital... Read more
Published on: 2022-06-09
By Anthony O'Donnell