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News Archives - Insurance Journal
People Moves: DUAL Hires Chief Risk Officer, Actuarial Lead; Allianz Nabs Chubb COO to Head N.A. Financial Lines
DUAL Hires Chief Risk Officer and Actuarial Lead DUAL North America, Inc., based in Naples, Florida, has hired Ranjit Jaswal as chief risk officer and Luke Wolmer as senior vice president of actuarial and data analytics. Jaswal brings over 25 …
POSTED FEBRUARY 03, 2023 5:34 PM |
People Moves: Beavers promoted to VP of Client Solutions at RYZE Claim Solutions; Alera Appoints Midwest Regional Managing Director
RYZE Claim Solutions Names Beavers Vice President of Client Solutions Teresa Beavers has been promoted to vice president of client solutions at RYZE Claim Solutions. Beavers, who has 33 years of experience in the claims industry, joined RYZE in 2001 …
POSTED FEBRUARY 03, 2023 5:34 PM |
Police Settle La. Suit Over 2020 Beating of Black Man
SHREVEPORT, La. (AP) – A settlement has been reached in a lawsuit filed by a Black man who said police officers in a Louisiana city threw him to the ground, slammed his face into the sidewalk and detained him in …
POSTED FEBRUARY 03, 2023 5:31 PM |
Texas Winter Storm Cancels Flights, Keeps Thousands Without Power
AUSTIN, Texas (AP) – A mess of ice, sleet and snow lingered across much of the southern U.S. on Thursday as thousands in Texas endured freezing temperatures with no power, including many in the state capital of Austin, but a …
POSTED FEBRUARY 03, 2023 5:25 PM |
Illinois Supreme Ct.: 5-Year Statute of Limitations Applies to Biometric Privacy Claims
Plaintiffs have five years to file claims to allege violations of the Illinois Biometric Privacy Act, the state Supreme Court ruled Thursday, rejecting arguments by business advocates that a one-year statute of limitations should apply. In a 5-0 decision, the …
POSTED FEBRUARY 03, 2023 5:21 PM |
FedEx Loses Bid to Undo $366M Racial Bias Verdict, Files Appeal
A U.S. judge rejected FedEx Corp’s request to throw out or reduce a jury’s $366 million damages award to a Black former employee who said the package delivery company fired her after she complained about racial discrimination. FedEx appealed the …
POSTED FEBRUARY 03, 2023 3:57 PM |
Family of Ugandan Awarded $10.5M for Utah Park Death
Family members of a Ugandan human rights activist killed in an accident at Arches National Park will get more than $10 million in damages, a federal judge ruled. Though the amount was substantially less than pursued, attorneys representing the family …
POSTED FEBRUARY 03, 2023 3:39 PM |
PG&E to Face Manslaughter Trial Over Deadly California Fire
Pacific Gas & Electric will face trial for manslaughter over its role in a 2020 wildfire in Northern California that killed four people, a judge ruled Wednesday. The judge in Shasta County ruled after a preliminary hearing that there was …
POSTED FEBRUARY 03, 2023 3:12 PM |
Securities Fraud Trial Over Elon Musk’s 2018 Tweets Draws to a Close
A lawyer for Tesla Inc. shareholders who claim Elon Musk deceived them when he tweeted that he had secured funding to take his electric car company private is expected to make closing arguments to a San Francisco jury on Friday. …
POSTED FEBRUARY 03, 2023 2:45 PM |
Ethics Panel Recommends Georgia Appeals Court Judge Be Removed From Office
Georgia’s Supreme Court should permanently remove a state appeals court judge accused of ethical misconduct, a judicial discipline panel recommended in a report released Monday. The three-member state panel said Christian Coomer flouted ethics rules on how a lawyer should …
POSTED FEBRUARY 03, 2023 2:34 PM |
North Carolina Rate Bureau Files for 28% Increase in Auto Insurance Rates
The North Carolina Rate Bureau is asking for a 28% increase in auto insurance rates for the state, an increase that will likely be slashed significantly by the state Department of Insurance. The average statewide increase for private passenger auto …
POSTED FEBRUARY 03, 2023 2:09 PM |
Global Commercial Insurance Rates Rise 4% in Q4, Continuing Moderating Trend: Marsh
Global commercial insurance prices increased 4% in the fourth quarter of 2022, down from a 6% increase in Q3 and a 9% increase in Q2, which is a continuation of a trend of moderating increases that began in Q1 2021, …
POSTED FEBRUARY 03, 2023 1:26 PM |
Judge Allows New Jersey Town’s Suit to Recover $21M Spent on Beach Restoration
A New Jersey beach town that defied state environmental authorities and fixed its dunes that were seriously eroded by a storm can proceed with a lawsuit seeking to recover $21 million it spent bulking up its shoreline, but cannot build …
POSTED FEBRUARY 03, 2023 1:18 PM |
Mississippi Pet Insurance Bill Fur Real This Time, Senators Say
More Mississippi dogs, cats, reptiles and birds may soon be insured against costly medical bills thanks to legislation that passed in the state Senate Wednesday. Senate Bill 2228, by Sen. Walter Michel, a Republican from Ridgeland, would create “a comprehensive …
POSTED FEBRUARY 03, 2023 1:17 PM |
Kentucky Tornado Relief Payments Come Under Scrutiny
Some people unaffected by tornadoes that ravaged Kentucky in late 2021 were mistakenly sent payments from a relief fund funneling private donations into the region, the state treasurer’s office said Wednesday. State Treasurer Allison Ball’s office said it canceled payment …
POSTED FEBRUARY 03, 2023 1:07 PM |
Westfield Completes Acquisition of Lloyd’s of London Syndicate 1200
Westfield has completed the acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings Ltd. for about $125 million. The deal was first announced in September 2022. Westfield said this strategic acquisition establishes the company as a global …
POSTED FEBRUARY 03, 2023 12:52 PM |
Ransomware Attack Closes Nantucket Schools
Public schools on the Massachusetts island of Nantucket remained closed on Wednesday a day after a ransomware attack targeted the district’s computer system and prompted officials to send students home early. “Together with outside data security experts, our Information Technology …
POSTED FEBRUARY 03, 2023 12:19 PM |
Amwins Global Risks Acquires UK Broker Roberts Armytage & Partners
Amwins Global Risks, the London-based international arm of global specialty insurance broker Amwins, announced the acquisition of Roberts Armytage & Partners (RAP), the specialist, energy and marine-focused London broker. Financial details of the transaction were not disclosed. As the energy …
POSTED FEBRUARY 03, 2023 12:07 PM |
Airbus and Qatar Airways Settle Bitter Dispute Over Grounded A350 Jets
Airbus and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable …
POSTED FEBRUARY 03, 2023 10:33 AM |
Hackers of ION Trading Also Hit UK Postal Service, Canada Hospital, U.S. Local Agencies
The hacking group behind a cyberattack against the software firm ION Trading UK has recently conducted a series of breaches throughout the world, with its victims including the UK’s postal service and local government agencies in the US. The gang, …
POSTED FEBRUARY 03, 2023 9:49 AM |
Crypto Thefts Hit Record $3.8B in 2022 on Surge in North Korea Hacking: Report
Thieves stole a record $3.8 billion worth of cryptocurrency in 2022 as sanctions on North Korea drove a surge in suspected hacking by the Asian nation. Overall crypto losses increased from $3.3 billion stolen in 2021, blockchain analysis firm Chainalysis …
POSTED FEBRUARY 03, 2023 9:17 AM |
U.S. CFTC Traders Report Delayed by Ransomware Attack on Data Firm ION
The U.S. Commodity Futures Trading Commission said on Thursday that as a result of the ransomware attack on ION Trading UK the CFTC’s weekly Commitments of Traders report will be delayed until all trades can be reported. ION Group, the …
POSTED FEBRUARY 03, 2023 7:03 AM |
Workers Comp Insurtech Pie Transitions to Full-Stack Carrier
Small-business workers compensation provider Pie Insurance has completed its transition to a full-stack carrier. Effective Jan. 1, the company said it acquired nationally licensed insurance company The American Insurance Company, while also touting the news that the Pie Insurance Group …
POSTED FEBRUARY 03, 2023 6:48 AM |
Amazon Fined for Worker Safety Violations in Three States
US federal workplace safety regulators fined Amazon.com Inc. more than $60,000 for putting warehouse employees at risk for lower back injuries and other musculoskeletal disorders. The Occupational Safety and Health Administration discovered the violations last year during inspections of Amazon …
POSTED FEBRUARY 03, 2023 6:48 AM |
Washington Insurance Commissioner Fines Producers, Insurers
Washington Insurance Commissioner Mike Kreidler issued fines in January totaling $11,000 against insurance companies, producers, brokers, and individuals who violated state insurance laws and regulations. Following are the entities fined, and how much they were fined: Unauthorized Insurers DNProtect, Epik …
POSTED FEBRUARY 03, 2023 6:00 AM |
Business Insurance
Musk found not liable in trial over 2018 Tesla tweets
A federal court jury in San Francisco on Friday found Tesla Inc. CEO Elon Musk and his company were not liable for misleading investors when he tweeted in 2018 that he had lined up funding to take the electric car company private.
POSTED FEBRUARY 03, 2023 5:46 PM |
OneBeacon wins against Argonaut in ruling over trucking policy
A federal appeals court on Thursday affirmed a lower court ruling in OneBeacon Insurance Co.’s favor in a dispute with Argonaut Insurance Co. in a case involving a trucking policy.
POSTED FEBRUARY 03, 2023 4:09 PM |
RCM&D names executive VP, hired from Lockton
Brian Mack, formerly senior vice president with Lockton Cos. LLC, will join Washington-based RCM&D, a risk management, insurance and employee benefits company, as executive vice president, RCM&D said Friday.
POSTED FEBRUARY 03, 2023 2:03 PM |
‘Call of Duty’ maker Activision Blizzard to pay $35M over SEC charges
Activision Blizzard Inc. has agreed to pay $35 million to settle U.S. Securities and Exchange Commission charges that it failed to have systems in place to properly handle employee complaints and violated whistleblower protection rules, the regulator said on Friday.
POSTED FEBRUARY 03, 2023 1:24 PM |
Lockton Re hires from Axis for cyber broker role
Lockton Re, the reinsurance division of broker Lockton Cos. Inc., on Friday said former Axis Capital Holdings Ltd. executive Matthew Silley has joined Lockton Re as a broker in the cyber practice of its specialty division.
POSTED FEBRUARY 03, 2023 12:47 PM |
FedEx loses bid to undo $366M racial bias verdict, files appeal
A U.S. judge rejected FedEx Corp.’s request to throw out or reduce a jury’s $366 million damages award to a Black former employee who said the package delivery company fired her after she complained about racial discrimination.
POSTED FEBRUARY 03, 2023 12:25 PM |
Hartford posts 19% decline in fourth-quarter profit
Hartford Financial Services Group Inc. reported fourth-quarter net income of $584 million, down 19% from the year-earlier period.
POSTED FEBRUARY 03, 2023 12:04 PM |
Jake from State Farm moves in on hilarious commercial chatter
Just as we enter Super Bowl commercial madness, lighting up social media this week is a “Saturday Night Live” sketch that spoofed State Farm’s promise to always be there for homeowners, “24/7,” featuring a creepy, unhinged Jake from State Farm arriving at an insured’s home to assist with a clogged toilet claim, and never leaving.
POSTED FEBRUARY 03, 2023 11:50 AM |
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