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News Archives - Insurance Journal
Cycling Fatalities Reach 46-Year High
Cyclist fatalities reached a multi-decade high in 2021. According to a recent report from the National Highway Traffic Safety Administration, 966 pedal cyclists were killed in traffic crashes in 2021. That marked the most deaths in one year since 1975. …
POSTED JUNE 07, 2023 5:11 AM |
Keys Staffing Firm Owner Gets 32 Months for Illegal Worker Tax Violations
The owner of several Key West staffing companies is on his way to prison after a federal judge sentenced him to more than two years for hiring unauthorized alien workers and failing to pay taxes on their wages. Batyr Myatiev, …
POSTED JUNE 07, 2023 5:01 AM |
Oregon City to Clear Sidewalk Tents to Settle Lawsuit with People With Disabilities
Portland, Oregon will remove tents blocking sidewalks under a tentative settlement in a lawsuit brought by people with disabilities who said sprawling homeless encampments prevent them from navigating Oregon’s most populous city. The federal class action lawsuit, filed in September, …
POSTED JUNE 07, 2023 5:01 AM |
Finding Ways to Get Polluters to Pay for Climate Damages
The biggest achievement at the annual United Nations climate summit last year was committing to create a fund that would compensate the poorestcop28 for destruction wrought by global warming. One of the questions at the upcoming COP28 summit will be …
POSTED JUNE 07, 2023 5:00 AM |
Child Sexual Assault Lawsuit Bill Fails to Advance in Pennsylvania
Child sexual abuse survivors pressed Pennsylvania lawmakers Monday to move ahead with opening a two-year window for them to file otherwise outdated lawsuits over their claims, but a partisan fight in the Legislature kept the proposal bottled up with no …
POSTED JUNE 07, 2023 5:00 AM |
Vermont School Settles 1st Amendment Suit by Coach Over Comments on Trans Athlete
A Vermont school district will reinstate a middle school soccer coach who was suspended for misgendering a transgender female athlete, and will delete any reference to bullying investigations from his daughter’s school record, under the settlement of a lawsuit that …
POSTED JUNE 07, 2023 5:00 AM |
Takeaways from Our Conversation on ‘Behavior Products’
At first glance, it would be tempting to write off ventures like Behavior Labs or reepher, as consumer-oriented endeavors with little more than passing interest for insurance professionals specializing in cannabis. reepher, for example, is s a new type of …
POSTED JUNE 07, 2023 5:00 AM |
Demolition Company Vows Repairs After Implosion Fallout Damages Nearby Homes
A blast of air and dust from the implosion of two smokestacks at a shuttered coal-fired power plant in western Pennsylvania last week felled power poles and caused damage to nearby homes. But the demolition company is vowing full repairs. …
POSTED JUNE 07, 2023 5:00 AM |
SEC Sues Crypto Exchange Coinbase, One Day After Suing Binance
The U.S. Securities and Exchange Commission on Tuesday sued Coinbase, accusing the largest U.S. cryptocurrency platform of operating illegally because it failed to register as an exchange, in another blow to the crypto industry. The lawsuit is the SEC’s second …
POSTED JUNE 07, 2023 4:22 AM |
Nevada Insurance Commissioner Petitions to Place Friday Health in Receivership
Nevada Insurance Commissioner Scott Kipper has filed legal action with the Nevada District Court to place Friday Health Plans of Nevada under regulatory supervision. The action will enable Kipper to assume oversight and management of the day-to-day operations of the …
POSTED JUNE 06, 2023 8:17 PM |
West Texas Dollar General Store Hit With $294K Penalty
A federal workplace safety inspection at another Dollar General store, this time in Lamesa, Texas, found exit routes and walkways blocked and merchandise unsafely stacked, conditions that exposed employees and others to fire hazards and struck-by injuries that have been …
POSTED JUNE 06, 2023 4:42 PM |
3 Bodies Recovered in Iowa Building Collapse; Lawsuit Accuses City, Owners of Negligence
DES MOINES, Iowa (AP) – The bodies of three men have been removed from the site of a collapsed six-story apartment building in Davenport, Iowa, about a week after part of the century-old structure tumbled to the ground, the city’s …
POSTED JUNE 06, 2023 4:39 PM |
Skyward Specialty Offering 3.85M in Shares
Skyward Specialty Insurance Group, Inc announced that The Westaim Corporation is offering 3,850,000 shares of the Company’s common stock in an underwritten public offering. In addition to The Westaim Corporation, certain other stockholders (the “Selling Stockholders”) have also granted the …
POSTED JUNE 06, 2023 4:35 PM |
Hub Acquires Ohio’s HORAN Associates
Hub International Limited announced that it has acquired the employee benefits assets of HORAN Associates, Inc. and HORAN Smart Business, LLC (collectively HORAN Health). Terms of the transaction were not disclosed. With HORAN Health, Hub creates a new regional hub …
POSTED JUNE 06, 2023 4:32 PM |
Ryan Specialty Acquires Texas’ Point6
Ryan Specialty announced it has signed a definitive agreement to acquire certain assets of Point6 Healthcare, LLC (“Point6”), a distributor of medical stop loss insurance, pharmacy solutions, and complex claims management on behalf of retail brokers and third party administrators. …
POSTED JUNE 06, 2023 4:30 PM |
Florida OIR Hearing Set for Citizens’ Latest Rate Increases
The Florida Office of Insurance Regulation will hold a rate hearing Thursday, June 8, on Citizens Property Insurance Corporation’s proposed 12.5% average increase for homeowners and larger increases for other types of policies. The state-created insurance company, established more than …
POSTED JUNE 06, 2023 4:25 PM |
Florida Commissioner Names Two to Top Regulatory Spots
Florida’s insurance commissioner has appointed two longtime veterans of the department to high-level regulatory positions. Virginia Christy’s name will be familiar to anyone who has read Florida Office of Insurance Regulation consent orders when property insurers are deemed insolvent. Since …
POSTED JUNE 06, 2023 3:26 PM |
Viewpoint: Impact of Florida Tort-Reform Bill Becomes Clear, But Litigation Expected
On March 24, 2023, Governor Ron DeSantis signed into law House Bill 837, resulting in the enactment of sweeping tort reform (“the Act”). The Act impacts various aspects of the civil justice system. The most salient features of this latest …
POSTED JUNE 06, 2023 2:31 PM |
Airlines Urge Co-Operation to Help Curb Emissions
Airlines on Tuesday called for co-operation on a broad front to reach “very tough” emission targets and pledged at the end of a three-day summit to release interim climate targets next year. The International Air Transport Association (IATA), grouping 300 …
POSTED JUNE 06, 2023 2:25 PM |
Jury Should Decide ‘Borrowed Employee’ Liability, New Jersey High Court Affirms
The New Jersey Supreme Court has affirmed that whether an employer is vicariously liable under the borrowed-employee doctrine is a question of fact that should be decided by the jury, not the judge, unless the evidence is obviously one-sided. The …
POSTED JUNE 06, 2023 2:08 PM |
Ford Recalls 125,000 Vehicles Over Engine Failures That Can Cause Fires
Ford Motor Co said on Tuesday it is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks because engine failures may cause a fire. The recall covers various Escape and Lincoln Corsair SUVs and Maverick compact …
POSTED JUNE 06, 2023 1:48 PM |
Chaucer CEO Fowle to Step Down
Chaucer said Group CEO John Fowle has decided to step down at the end of June. Fowle has been with Chaucer since 2002 and was appointed CEO in January 2017, having previously served as Chaucer’s chief underwriting officer. Rob Callan …
POSTED JUNE 06, 2023 1:31 PM |
Ryan Specialty to Acquire ACE Benefit Partners in Idaho
Ryan Specialty signed a definitive agreement to acquire certain assets of ACE Benefit Partners Inc. in Eagle, Idaho. The acquisition is expected to close in July 2023. ACE Benefit Partners is a medical stop loss general agent founded in 2014. …
POSTED JUNE 06, 2023 1:11 PM |
Single Voicemail Enough to Violate Telephone Consumer Protection Act, 6th Circuit Rules
A single voicemail message left on a cellphone without permission is enough to allow an individual to proceed with a class-action lawsuit alleging violations of the Telephone Consumer Protection Act of 1991, a panel with the 6th Circuit Court of …
POSTED JUNE 06, 2023 9:05 AM |
UAE to Tighten Insurance Cover for Ships Flying its Flag
The United Arab Emirates is tightening insurance requirements for vessels registered under its flag, according to a government advisory, amid growing concerns over ships sailing without top tier cover in the event of an oil spill. Ships typically have protection …
POSTED JUNE 06, 2023 12:49 PM |
Business Insurance
Donald Trump faces skeptical court in New York fraud appeal
A New York appeals court on Tuesday signaled it was unlikely to grant Donald Trump’s request to dismiss state Attorney General Letitia James’ civil lawsuit accusing him, his family business and three of his children of a “staggering” fraud.
POSTED JUNE 06, 2023 4:46 PM |
How to cope with property risk challenges
Property owners and their insurers have more to consider than ever before when it comes to protecting properties. Learn more in this Risk Perspective.
POSTED JUNE 01, 2023 5:59 AM |
Video: The BI Interview with Nirali Shah of McGill and Partners
Nirali Shah, partner - financial lines team at McGill and Partners, discusses the D&O claims fallout from the recent banking crisis and how underwriters are adapting to the changing environment.
POSTED JUNE 06, 2023 4:18 PM |
Axa makes global management changes
Axa SA on Tuesday revamped its management committee and announced several executive changes, including leadership changes at its Axa Reinsurance unit.
POSTED JUNE 06, 2023 2:52 PM |
Judge rules against injunction in USI, Alliant poaching case
A federal judge in Arizona on Friday denied USI Insurance Services LLC’s motion for a preliminary injunction against Alliant Insurance Services Inc. and former USI producers who joined the rival brokerage.
POSTED JUNE 06, 2023 2:51 PM |
Daters warm up to AI involvement
As companies and consumers grow increasingly worried about the encroachment of artificial intelligence, one group of consumers says it’s a match, according to a survey by an online dating app.
POSTED JUNE 06, 2023 2:15 PM |
Texas comp division releases COVID-19 claims data
Workers compensation insurers in Texas reported nearly 100,000 COVID-19 claims and 472 fatalities between March 2020 and April of this year, and more than half of both involved first responders and correctional officers, according to new data made public by the Texas Department of Insurance, Division of Workers’ Compensation.
POSTED JUNE 06, 2023 2:00 PM |
Bills focuses on workplace violence at health care facilities
Pennsylvania lawmakers have filed legislation that would require health care facilities to establish workplace violence prevention committees to better protect employees.
POSTED JUNE 06, 2023 1:23 PM |
N.J. court reinstates jury verdict for worker with foot amputation
The New Jersey Supreme Court reinstated a jury verdict for a worker whose foot was surgically amputated after it was crushed during a workplace incident.
POSTED JUNE 06, 2023 1:10 PM |
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