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Higginbotham Adds South Florida Benefits Agency to Team Texas-headquartered Higginbotham, one of the largest independent insurance and benefits firms, has added Adams Benefits of Boca Raton, Florida, to its team, the company said in a news release. The move marks an expansion into south Florida for Higginbotham, which …
POSTED APRIL 26, 2024 3:24 PM |
US Probes Tesla Recall of 2 Million Vehicles Over Autopilot, Citing Concerns U.S. auto safety regulators said Friday they have opened an investigation into whether Tesla’s recall of more than 2 million vehicles announced in December to install new Autopilot safeguards is adequate. The National Highway Traffic Safety Administration (NHTSA) said it …
POSTED APRIL 26, 2024 3:17 PM |
NC Agent, Missouri Lawyers Convicted in $4M Tax Shelter, Insurance Scheme A federal jury on Thursday found a North Carolina insurance agent and two Missouri lawyers guilty on all counts in a $4 million tax evasion scheme that also defrauded an insurance carrier. The jury in Charlotte, said licensed agent and …
POSTED APRIL 26, 2024 2:53 PM |
Ban on Worker Noncompetes Faces Uphill Legal Battle The U.S. Federal Trade Commission’s ban on “noncompete” agreements commonly signed by workers is likely vulnerable to legal challenges, experts said, as some courts have grown increasingly skeptical of federal agencies’ power to adopt broad rules. The commission in unveiling …
POSTED APRIL 26, 2024 2:43 PM |
Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises Cyber claims frequency in the U.S. rose 13% last year, a new report shows. According to Coalition’s 2024 Cyber Claims Report, released this week, cybercrime is “a thriving business that adversely impacts” the economy. In 2023, there were more than …
POSTED APRIL 26, 2024 1:47 PM |
Class Action Opposes Limiting Ship’s Liability for Baltimore Bridge Collapse A Baltimore small business has filed a class action against the owner and operator of the cargo ship Dali that crashed into the Francis Scott Key Bridge last month. The suit, filed Thursday by the Karen Austin, the founder of …
POSTED APRIL 26, 2024 1:30 PM |
Missouri House Backs Legal Shield for Weedkiller Maker Facing Cancer Lawsuits JEFFERSON CITY, Mo. (AP) — The manufacturer of a popular weedkiller won support Wednesday from the Missouri House for a proposal that could shield it from costly lawsuits alleging it failed to warn customers its product could cause cancer. The …
POSTED APRIL 26, 2024 7:00 AM |
Central US Braces for Severe Weather Outbreak An active weather pattern could bring destructive tornadoes, heavy rains, large hail and strong wind gusts to parts of the central United States over the next several days, according to meteorologists at the National Weather Service and Accuweather. Two strong …
POSTED APRIL 26, 2024 7:00 AM |
Judge Won’t Dismiss Lawsuits Against Travis Scott Over Deadly Astroworld Concert HOUSTON (AP) — A judge has declined to dismiss hundreds of lawsuits filed against rap star Travis Scott over his role in the deadly 2021 Astroworld festival in which 10 people were killed in a crowd surge. State District Judge …
POSTED APRIL 26, 2024 6:00 AM |
Here’s Why Experts Don’t Think Cloud Seeding Caused Dubai Flooding With cloud seeding, it may rain, but it doesn’t really pour or flood — at least nothing like what drenched the United Arab Emirates and paralyzed Dubai, meteorologists said. Cloud seeding, although decades old, is still controversial in the weather …
POSTED APRIL 26, 2024 5:39 AM |
US Revives Net Neutrality to Establish Authority Over Internet US regulators reinstated net neutrality rules that aim to ensure everything on the internet is equally accessible, reclaiming authority over broadband service and setting the stage for legal challenges. The Federal Communications Commission’s Democratic majority adopted rules that bar broadband …
POSTED APRIL 26, 2024 5:35 AM |
Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities: Preparing for Ivan Wiper,” focuses on the consequences of …
POSTED APRIL 26, 2024 5:30 AM |
Price or Safety? Priorities Change for Small Businesses After a Workers Comp Claim Previous workers’ compensation claims can present an opportunity for agents serving small-business clients. The Hanover’s “2024 Small Business Risk Report: A Focus on Workers’ Compensation,” which surveyed 300 small business owners, found that a workers’ compensation claim experience can influence …
POSTED APRIL 26, 2024 5:28 AM |
EU Should Revisit Bank and Insurer Capital Rules: French President Macron French President Emmanuel Macron called on Thursday for a revision of how Europe applies minimum capital rules to banks and insurers so that they are not too risk-averse and Europe is put at an economic disadvantage. The Basel Committee of …
POSTED APRIL 26, 2024 5:06 AM |
Employer Can’t Deny Comp Claim in Shooting Then Argue Immunity, Court Says An employer cannot deny a workers’ compensation claim on the grounds that a shooting injury was not work-related then turn around and argue it has immunity from a tort lawsuit because the incident happened at work, a Florida appeals court …
POSTED APRIL 26, 2024 5:01 AM |
Family of Nigerian Businessman Killed in Helicopter Crash Sues Charter Company The family of a Nigerian business leader who died in a Southern California helicopter crash that killed five others in February filed a lawsuit claiming the flight should have been grounded because of treacherous weather. Relatives of Abimbola Ogunbanjo, the …
POSTED APRIL 26, 2024 5:00 AM |
Orion180 Launches Homeowners Insurance in Arizona Orion180 is expanding its homeowners insurance services to Arizona under a push by the company into the Western U.S. Orion180 currently operates in Alabama, Arizona, Georgia, Indiana, Mississippi, North Carolina and South Carolina through its two insurance carriers. The company …
POSTED APRIL 26, 2024 5:00 AM |
Boston Agent Charged With Creating Fake Insurance Policies to Collect Commissions A Boston man has been charged with a fraud scheme in which prosecutors say he collected about $45,000 in unearned sales commissions on insurance policies he created using personally identifiable information stolen from individuals. The state attorney general’s office announced …
POSTED APRIL 26, 2024 5:00 AM |
Connecticut M&A Advisor Agrees to Pay $1.5M to Settle Data Breach Class Action Merritt Healthcare Advisors, a Connecticut mergers and acquisitions (M&A) advisory firm for healthcare practices, has agreed to a $1.525 million settlement of a class action stemming from a 2022 data breach. The money will go into a fund to compensate …
POSTED APRIL 26, 2024 5:00 AM |
Jury Rejects Sex Abuse Claims Against Virginia School System by Former Student A jury on Wednesday rejected a woman’s lawsuit seeking tens of millions of dollars from Virginia’s largest school system over allegations that she was raped multiple times as a middle schooler. The woman, who was identified in court papers only …
POSTED APRIL 26, 2024 5:00 AM |
3-Alarm House Fire Likely Caused by Oily Rags, Newton Fire Chief Says A three-alarm fire in Newton, Massachusetts this week was most likely caused by the combustion of oily rags used during renovations on the unoccupied home, according to Newton Fire Chief Gregory J. Gentile. The Newton Fire Department responded to 8 …
POSTED APRIL 26, 2024 5:00 AM |
Workers’ Comp Rating Bureau of California OKs Higher Pure Premium Rate Filing The Workers’ Compensation Insurance Rating Bureau of California submitted its Sept. 1, 2024, pure premium rate filing to the California Department of Insurance, proposing advisory rates on average 0.9% above the average approved Sept. 1, 2023 rates. The proposed advisory …
POSTED APRIL 26, 2024 5:00 AM |
Thames Water Debt Insurer Taps Advisers as Crisis Deepens A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter. Assured …
POSTED APRIL 26, 2024 4:45 AM |
Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions. A …
POSTED APRIL 26, 2024 4:27 AM |
Global Basel Committee Bolsters Rules for Supervising Banks, Non-Bank Sector The world’s forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of banking regulators …
POSTED APRIL 26, 2024 4:13 AM |
Business Insurance
Appeals court relieves insurer of covering fatal drag racing crash The 5th U.S. Circuit Court of Appeals on Friday relieved Kinsale Insurance Co. of defending the organizer of a drag racing event against suits over a fatal accident that occurred in October 2021.
POSTED APRIL 26, 2024 2:05 PM |
Demystifying AI and predictive analytics in risk and claims Join this webinar on May 22 to see how data visualization, predictive analytics, and AI can speed up insights for risk management and claims departments.
POSTED APRIL 26, 2024 4:26 AM |
N.Y. court reverses denial of 9/11-related claim A New York appellate court on Thursday reversed the denial of a workers compensation claim filed by a former New York City court officer who alleged he became sick or injured due to his cleanup efforts at the World Trade Center after the 9/11 terrorist attacks.
POSTED APRIL 26, 2024 12:51 PM |
Widow improperly denied compensation in industrial accident: Court The Ohio Industrial Commission must revisit a case brought by the widow of a deceased worker who sought compensation for her husband’s loss of use of his extremities due to an industrial accident, an appellate court ruled Thursday.
POSTED APRIL 26, 2024 12:38 PM |
DOL issues final farmworker protection rule The U.S. Department of Labor announced Friday its final rule designed to protect agricultural employees in the workplace.
POSTED APRIL 26, 2024 11:37 AM |
Comedian hits notes on health insurance struggles With the high monthly premiums, copays, coinsurances and deductibles common in health insurance packages, finally trying to find an in-network specialist is nothing to sing about.
POSTED APRIL 26, 2024 11:12 AM |
Ketamine, medical marijuana appropriate injured worker treatments: Court A Pennsylvania appellate court ruled Thursday that a workers compensation judge erred in determining that reimbursing an injured worker for medical marijuana would subject an employer to federal prosecution.
POSTED APRIL 26, 2024 10:59 AM |
FTC ban on worker noncompetes faces uphill legal battle The Federal Trade Commission’s ban on “noncompete” agreements commonly signed by workers is likely vulnerable to legal challenges, experts say, as some courts have grown increasingly skeptical of federal agencies’ power to adopt broad rules.
POSTED APRIL 26, 2024 10:46 AM |
Aon reports 5% revenue increase; looks to middle-market growth Aon PLC’s first-quarter revenue increased as its reinsurance broking and benefits consulting business grew by high-single-digit percentages, but it continued to see pressure in its U.S. retail business.
POSTED APRIL 26, 2024 10:00 AM |
The BI Top 10: Week of April 22, 2024 Zurich is the focus of three stories in this week’s BI Top 10. Also of note: Marsh McLennan Agency makes a deal.
POSTED APRIL 26, 2024 10:00 AM |
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