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News Archives - Insurance Journal
TSLA Names Officers and Directors at Annual Meeting
The Texas Surplus Lines Association, Inc. announces the election of the following Officers and Directors at its 68th Annual Meeting held at the Four Seasons Hotel Austin on November 13, 2023. President – Kimmi Cantwell, McGowan, Donnelly & Oberheu, LLC …
POSTED DECEMBER 08, 2023 5:59 PM |
Microsoft’s OpenAI Investment Risks Scrutiny From US, UK Regulators
The US Federal Trade Commission is examining the nature of Microsoft Corp.’s investment in OpenAI Inc. and whether it may violate antitrust laws, according to a person familiar with the matter. The inquiries are preliminary and the agency hasn’t opened …
POSTED DECEMBER 08, 2023 5:18 PM |
Son of North Dakota Senator Crashes During Police Chase, Killing Sheriff`s Deputy
BISMARCK, N.D. (AP) – The 42-year-old son of U.S. Sen. Kevin Cramer crashed into a North Dakota sheriff`s vehicle during a police chase, pushing it into a deputy and killing him, according to authorities and the Republican senator`s family. Ian …
POSTED DECEMBER 08, 2023 5:17 PM |
5th Circuit Largely Sides With Louisiana Sheriff`s Deputies Accused in Lawsuit of Using Excessive Force
NEW ORLEANS (AP) – A federal appeals court has largely sided with two white Louisiana sheriff`s deputies in a lawsuit filed by a Black woman, rejecting her claims that they used excessive force against her as they investigated an allegation …
POSTED DECEMBER 08, 2023 5:12 PM |
Kansas Insurance Companies to See Reduced Surplus Lines Tax Rate in 2024
Insurance companies in Kansas will pay a reduced surplus lines tax rate beginning next year after the legislature passed a law lowering the surplus tax rate from 6% to 3% for tax years 2024 and after. Kansas insurance Commissioner Vicki …
POSTED DECEMBER 08, 2023 5:07 PM |
Markets/Coverages: Howden Launches European Cyber & Tech E&O Facility
Howden, the global insurance group, today announces the launch of one of the first dedicated European cyber and technology errors & omissions line slips for primary business. The product is led by Canopius and IQUW with support from three other …
POSTED DECEMBER 08, 2023 4:53 PM |
Former Jacksonville Jaguars Financial Manager Accused of Stealing $22M from Team
JACKSONVILLE, Fla. (AP) — A former financial manager for the Jacksonville Jaguars has been accused of stealing more than $22 million from the franchise through its virtual credit card program between 2019 and 2023, according to a seven-page court filing. …
POSTED DECEMBER 08, 2023 4:45 PM |
Service Workers Union Asks Feds to Oversee South Carolina’s ‘Lax’ Safety Agency
COLUMBIA, S.C. (AP) — One of the largest labor organizations in the United States petitioned the federal government on Thursday to wrest workplace safety oversight from South Carolina regulators accused of failing to protect service employees. South Carolina is one …
POSTED DECEMBER 08, 2023 4:31 PM |
Florida Governor’s Budget Would Slice Premium Taxes and FIGA Assessment
Florida Gov. Ron DeSantis and the state’s insurance commissioner have touted the governor’s 2024-2025 state budget, released this week, as a $431 million relief package for Florida homeowners struggling with escalating property insurance premiums. Insurance industry lobbyists, consultants, professors and …
POSTED DECEMBER 08, 2023 4:27 PM |
Boy Scout Abuse Claims Fund Shouldn’t Pay $21M in Lawyers’ Fees, Judge Says
The judge presiding over the Boys Scouts of America’s bankruptcy has rejected a $21 million fee request from attorneys hired by law firms representing survivors of child sexual abuse. A group of personal injury firms called the Coalition of Abused …
POSTED DECEMBER 08, 2023 4:24 PM |
Specialist Risk Group Acquires Lloyd’s Broker CBC Partnership
Specialist Risk Group (SRG) has agreed to acquire the London-based broker CBC Partnership (CBC), subject to the necessary regulatory approvals. Financial details of the transaction were not disclosed. CBC will become SRG’s 19th acquisition, and its 6th in 2023. Under …
POSTED DECEMBER 08, 2023 4:23 PM |
US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months
U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion than the same period a year ago. The blame, …
POSTED DECEMBER 08, 2023 3:38 PM |
Shadow-Fleet Oil Tanker Runs Aground Near Singapore
A shadow-fleet oil tanker that had previously falsified its location to avoid detection on digital ship-tracking systems ran aground near Singapore, a stark reminder of the environmental risks that such vessels pose. A spokesman for the Indonesian navy said the …
POSTED DECEMBER 08, 2023 3:33 PM |
Climate Change, El Niño Bring T-Shirt Weather in December for Northern Hemisphere
It’s the cusp of winter in the Northern Hemisphere, but in many places from the US to Japan, it feels more like spring — and forecasters say that’s a sign of what to expect over the next couple of months, …
POSTED DECEMBER 08, 2023 3:14 PM |
Authorities in Alaska Suspend Search After Deadly Landslide
Authorities have suspended the search for the 12-year-old boy still missing following a deadly landslide in the southeast Alaska community of Wrangell. Five people have been confirmed killed in the landslide and their bodies recovered: Otto Florschutz, Timothy and Beth …
POSTED DECEMBER 08, 2023 3:00 PM |
Patriot Growth Adds Connecticut Benefits Firm
Pennsylvania-based Patriot Growth Insurance Services reports it has acquired Blueprint Benefit Advisors of Hamden, Connecticut. Blueprint provides employee benefits, human resource support, benefits technology, and compliance services. This deal expands Patriot’s footprint in the New England region, which currently consists …
POSTED DECEMBER 08, 2023 2:57 PM |
Brown & Brown Acquires Automotive Business Solutions in Colorado
Brown & Brown Dealer Services has completed the acquisition of Automotive Business Solutions. The ABS team will continue to be led by CEO Michael Cox from their current offices in Denver, Colorado. ABS is an administrator of warranty products in …
POSTED DECEMBER 08, 2023 2:57 PM |
Berkshire Utility Reaches $299 Million Oregon Fire Accord
Berkshire Hathaway Energy Co.’s PacifiCorp said it will pay $299 million to settle claims over wildfires that burned homes in southwest Oregon, averting another jury trial in litigation that has already exposed the utility to billions in damages. The accord, …
POSTED DECEMBER 08, 2023 2:50 PM |
Police Officer and Utility Worker Killed in Hit-and-Run Crash at Work Site
A pickup truck driver in a suburb of Boston is accused of crashing into a police officer and a utility employee at a work site, killing them, then pulling a knife on another officer before stealing his cruiser and crashing, …
POSTED DECEMBER 08, 2023 2:17 PM |
Visiting Nurse’s Killing at Halfway House Renews Pleas for Home Health Care Safety
The killing of a Connecticut nurse making a house call in October was a nightmare come true for an industry gripped by the fear of violence. Already stressed out by staffing shortages and mounting caseloads, heath care workers are increasingly …
POSTED DECEMBER 08, 2023 1:26 PM |
People Moves: DeCotis Specialty Adds Lyle and Downie to Commercial Lines Team
DeCotis Specialty Insurance, headquartered in Providence, Rhode Island added Lori Lyle as senior commercial lines account manager, and Jay Downie as a commercial lines insurance broker. Lyle joins DeCotis after spending nearly four decades on the commercial insurance retail side. …
POSTED DECEMBER 08, 2023 1:00 PM |
Vale-BHP Talks With Brazil on Mine Disaster Compensation Delayed
Talks over a multibillion-dollar settlement for a 2015 mining disaster at an iron ore venture of Vale SA and BHP Group have been suspended by a Brazilian court until early 2024 after the companies and authorities in the country failed …
POSTED DECEMBER 08, 2023 10:31 AM |
Britain’s Financial Conduct Authority Must Act Faster: National Auditor Report
Britain’s Financial Conduct Authority (FCA) can take too long to act and a sweeping post-Brexit internal revamp to make it nimbler will take years to complete, the National Audit Office (NAO) said in a report on Friday. The FCA regulates …
POSTED DECEMBER 08, 2023 9:36 AM |
People Moves: Newbold Named President of Verisk Extreme Event Solutions; Rudnick Division Manager of FM Global’s AFM
Verisk, headquartered in Jersey City, N.J., named Rob Newbold president of Extreme Event Solutions. Current President Bill Churney will retire effective December 31. Newbold joined Verisk in 2002 as a risk consultant and most recently served as executive vice president …
POSTED DECEMBER 08, 2023 6:56 AM |
US, UK Say Russia Targeted Officials in Political Cyber Campaign
The US and UK have launched a coordinated effort to disrupt a longtime alleged Russian government hacking campaign aimed at what they say is an attempt to undermine democratic processes in both their countries. The UK accused Russia’s main intelligence …
POSTED DECEMBER 08, 2023 6:20 AM |
Business Insurance
Appeals court affirms policy application inaccurate
An insurer that was given inaccurate and incomplete information does not have to defend or indemnify a policyholder for damages associated with a fire, a federal appeals court said Thursday in affirming a lower court.
POSTED DECEMBER 08, 2023 1:22 PM |
Optimize outcomes with expert-led, family-focused behavioral health support
Because untreated behavioral health issues can derail recovery for injured workers, addressing these challenges is key to driving superior outcomes.
POSTED DECEMBER 07, 2023 6:09 AM |
Aon names greater New York region leader
Aon PLC Friday named Christine Williams as greater New York region leader.
POSTED DECEMBER 08, 2023 1:12 PM |
Self-published author sends lawsuit crashing down on Netflix
A writer who claims the creators of the 2021 comedy “Don’t Look Up” looked a little too closely at his self-published novel before putting together their own award-winning script is suing for $5 million.
POSTED DECEMBER 08, 2023 11:51 AM |
Alliant names former Woodruff Sawyer exec to venture capital post
Alliant Insurance Services Inc. Friday named former Woodruff Sawyer & Co. executive Dan Berry as venture capital leader, executive vice president, mergers & acquisitions.
POSTED DECEMBER 08, 2023 10:56 AM |
Injured concrete worker’s lawsuit prematurely dismissed: Appeals court
A Pennsylvania appeals court Thursday reversed a lower court’s decision to dismiss an injured concrete worker’s lawsuit against a construction company.
POSTED DECEMBER 08, 2023 10:49 AM |
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