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News Archives - Insurance Journal
Study Shows Climate Change Made Droughts More Likely in 2022
Climate change made droughts in the Northern Hemisphere droughts more likely this year, a new study by a team of U.S. and international scientists shows. The scientists, part of World Weather Attribution, a group that studies links between extreme weather …
POSTED OCTOBER 06, 2022 7:59 PM |
Man Charged With Damaging Historic Missouri Home of Composer Scott Joplin
A man was charged Tuesday with breaking into the historic home of ragtime composer Scott Joplin and causing tens of thousands of dollars’ worth of damage. Thirty-eight-year-old Kevin Daley-Bey faces one count each of second-degree burglary and first-degree property damage. …
POSTED OCTOBER 06, 2022 4:42 PM |
Nebraska Sandhills Wildfire More Than Half Contained
A destructive Nebraska Sandhills wildfire that saw one firefighter die while fighting the flames was more than half contained by Wednesday, officials said. The size of the Bovee Fire in west-central Nebraska was mapped Tuesday at nearly 19,000 acres, or …
POSTED OCTOBER 06, 2022 4:39 PM |
Amended Complaint: Texas Public Adjuster Losses Nearly $8 Million
A public adjuster who is accused of pocketing insurance payouts intended for policyholders took a total of $7.9 million from 14 customers, including four churches, according to an amended complaint filed by the Texas Department of Insurance. The Texas State …
POSTED OCTOBER 06, 2022 4:32 PM |
Woman Gets Probation for Massive Capital One Hack in 2019
A former Seattle tech worker convicted of several charges related to a massive hack of Capital One bank and other companies in 2019 was sentenced Tuesday to time served and five years of probation. U.S. District Judge Robert S. Lasnik …
POSTED OCTOBER 06, 2022 4:22 PM |
Revival Sought for Outspoken Louisiana Pastor’s Lawsuit Over COVID Restrictions
An outspoken Christian conservative attorney from Alabama has asked a federal appeals court to revive a Louisiana pastor’s damage claims against state officials over long-expired COVID-19 restrictions. A federal judge this year dismissed minister Tony Spell’s lawsuit against Gov. John …
POSTED OCTOBER 06, 2022 4:20 PM |
Texas Mutual CEO Rich Gergasko to Retire in 2023
Texas Mutual, the state’s leading provider of workers’ compensation insurance, today announced that the company’s President & Chief Executive Officer, Richard “Rich” Gergasko, has shared with the Board of Directors his intention to retire in early 2023. Gergasko joined Texas …
POSTED OCTOBER 06, 2022 4:16 PM |
People Moves: Falcon 4 Key Senior Hires; New Chief HR Officer at Hippo
Falcon Expands Leadership Team with Key Senior Hires Falcon Risk Holdings LLC (Falcon), the US Financial, Professional and Cyber lines MGA, has announced four senior appointments to its team. Bryan Harmsen joins the team as chief operating officer. Harmsen previously …
POSTED OCTOBER 06, 2022 3:42 PM |
‘Best Before’ Labels Scrutinized as Food Waste Concerns Grow
As awareness grows around the world about the problem of food waste, one culprit in particular is drawing scrutiny: “best before” labels. Manufacturers have used the labels for decades to estimate peak freshness. Unlike “use by” labels, which are found …
POSTED OCTOBER 06, 2022 3:13 PM |
AM Best Lifts Negative Review Status, Affirms Credit Ratings of Aegis Security
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) of Aegis Security Insurance Co., based in Harrisburg, Pennsylvania. …
POSTED OCTOBER 06, 2022 3:03 PM |
Florida Comp Workshop on Physician Dispensing Rules Moved to November
The Florida Division of Workers’ Compensation has rescheduled two workshops on proposed rules governing physician dispensing of medications. The workshops were set for Sept. 29 but were postponed due to the arrival of Hurricane Ian across much of Florida last …
POSTED OCTOBER 06, 2022 2:23 PM |
$725K Settlement Reached in Fatal Washington Shooting Lawsuit
The Vancouver City Council in Washington has approved a $725,000 settlement in the police shooting of a man who was experiencing a mental health crisis in April 2020. Three Vancouver police officers fatally shot William Abbe, 50. The Thurston County …
POSTED OCTOBER 06, 2022 1:52 PM |
U.S. Consumers Value Data Privacy Over Savings in Home, Auto Insurance: Policygenius
Despite inflation and rising costs, most Americans would rather pay more for insurance coverage than use data-monitoring devices, according to an annual survey from Policygenius. The survey found that 68% of U.S. consumers said they would not install an app …
POSTED OCTOBER 06, 2022 9:39 AM |
Uber’s Former Security Chief Convicted of Data Hack Coverup
Uber Technologies Inc.’s former security chief was convicted of concealing a massive data breach in a case that prosecutors tied to the company’s troubled past under its original leadership. Joe Sullivan was found guilty in San Francisco federal court Wednesday …
POSTED OCTOBER 06, 2022 1:10 PM |
After Historic Highs This Year, Housing Prices Moderating in Miami Area
Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers. Miami-Dade’s median sale price dwindled to $551,250 for a single-family home in …
POSTED OCTOBER 06, 2022 12:52 PM |
World Insurance Acquires 3 Agencies in Northeast
Insurance brokerage World Insurance Associates reported that it recently closed on purchasing three insurance agencies in the Northeast. World Insurance acquired Michael F. Iacangelo & Company Inc. of Belleville, New Jersey on September 1, 2022. Iacangelo, founded in 1957, sells …
POSTED OCTOBER 06, 2022 12:39 PM |
UK Market Turmoil Threatens Plans for Post-Brexit Reforms for Insurers
Reforming European Union insurance rules to release billions of pounds of capital is a key part of the UK government’s program to boost the economy. The market turmoil unleashed by the mini-budget may make such ambitions harder to deliver. The …
POSTED OCTOBER 06, 2022 10:03 AM |
Lloyd’s Probes Possible Cyber Attack
Lloyd’s of London is investigating a possible cyber attack and has taken initial precautions in response, the re/insurance market has confirmed. “Lloyd’s has detected unusual activity on its network, and we are investigating the issue. As a precautionary measure, we …
POSTED OCTOBER 06, 2022 7:41 AM |
Judge Temporarily Blocks Two State Lawsuits Over J&J Talc Marketing
A U.S. bankruptcy judge has blocked New Mexico and Mississippi from pursuing lawsuits accusing Johnson & Johnson misleading consumers about the safety of its talc products, such as its baby powder, for now. U.S. Bankruptcy Judge Michael Kaplan in Trenton, …
POSTED OCTOBER 06, 2022 6:29 AM |
People Moves: Arch Ins. Int’l Names Lockton’s Stallard as Cargo U/W; Beazley Hires van Ommeren as Financial Lines U/W; Aon Reinsurance Taps Sompo’s Shedden for Analytics
This edition of International People Moves details appointments at Arch Insurance International, Beazley, and Aon Reinsurance Solutions. A summary of these new hires follows here. Arch Insurance Int’l Names Lockton’s Stallard as Cargo U/W Arch Insurance International announced the appointment …
POSTED OCTOBER 06, 2022 6:10 AM |
Indonesia’s Deadly Soccer Stampede Blamed on Locked Doors, Steep Stairs
Locked stadium doors were a key reason why an Indonesian soccer riot turned so deadly, President Joko Widodo said on Wednesday, ordering an urgent review of safety in stadiums and suggesting that the sport’s governing body FIFA could help fix …
POSTED OCTOBER 06, 2022 6:00 AM |
Gallagher’s Pen Underwriting Agrees to New Capacity Deal With Aviva
Pen Underwriting, the London-based managing general agent and Arthur J. Gallagher subsidiary, announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see Aviva providing capacity for over £100 million …
POSTED OCTOBER 06, 2022 5:45 AM |
CFC Launches Innovation Hub in London
CFC, the specialist managing general agent, announced the launch of a dedicated Innovation Hub. Located in new premises on Whittington Avenue in the City of London, CFC’s Innovation Hub will act as CFC’s research and development center supporting over 100 …
POSTED OCTOBER 06, 2022 5:45 AM |
Howden’s Aston Lark Ireland Acquires Pembroke Insurances
Aston Lark Ireland, a Howden company, announced the acquisition of Pembroke Insurances Ltd. Set up by Graham Weir and John McGuire, Pembroke Insurances has been providing commercial insurance solutions since 2007 and has grown to be a trusted name within …
POSTED OCTOBER 06, 2022 5:30 AM |
Real-Time Tech: Supply Chain Analysis Tools
Transparency is the key to managing supply chain risk. But some businesses only focus on selective financial information from their suppliers, which can leave them exposed. Beyond creditworthiness, there are many additional threats to consider—such as second-, third- and fourth-tier …
POSTED OCTOBER 06, 2022 5:30 AM |
Business Insurance
Appeals court reinstates ADA discrimination suit filed by tester
A federal appeals court on Wednesday reinstated a discrimination lawsuit filed by a self-proclaimed “tester,” who has filed hundreds of comparable lawsuits, who charges an inn with failing to provide information about its accessibility to those with disabilities on its reservation portal and elsewhere, in violation of the Americans with Disabilities Act.
POSTED OCTOBER 06, 2022 5:17 PM |
How construction contractors should select a long-term surety partner
In an uncertain market, contractors should seek a surety partner that delivers consistency and commitment, among other important traits.
POSTED OCTOBER 03, 2022 3:50 AM |
Five strategies for better reconstruction cost estimates
Insurance-to-value alignment is critical for insurers and customers. This Verisk whitepaper offers strategies to improve ITV through better replacement cost estimating.
POSTED OCTOBER 03, 2022 8:06 AM |
Most risk managers worry about cyberattack: Survey
A total of 90% of risk managers who work for mid-sized companies say they are concerned about their company falling victim to a cyberattack, with 91% stating they have an incident response plan in place should that occur, says a survey issued today.
POSTED OCTOBER 06, 2022 2:23 PM |
Food manufacturer may amend COVID business interruption suit
An organic and vegetarian food manufacturer should be allowed to amend its COVID-19 business interruption lawsuit to allege coverage under its communicable disease policy provision, a California appeals court has ruled, in overturning a lower court ruling that dismissed the case.
POSTED OCTOBER 06, 2022 1:48 PM |
Comp medical payments decrease slightly during pandemic
Medical payments per claim decreased more than 3% in the pandemic years 2020 and 2021 in half of the states studied by the Workers’ Compensation Research Institute.
POSTED OCTOBER 06, 2022 1:35 PM |
Jury finds former Uber security chief guilty of concealing data breach
A San Francisco jury has found Uber Technologies Inc.’s former chief security officer Joseph Sullivan guilty of criminal obstruction for failing to report a 2016 cybersecurity incident to the authorities, a spokesperson from the Department of Justice confirmed on Wednesday.
POSTED OCTOBER 06, 2022 12:17 PM |
Australian regulator, government team up over data sharing after Optus breach
Australian prudential regulator said on Thursday it will collaborate with the government and other regulatory bodies for “controlled process” of data sharing between its regulated entities and Singapore Telecommunications’ unit Optus.
POSTED OCTOBER 06, 2022 12:01 PM |
Trending in the workplace: napping
The technology industry takes the top spot for the sleepiest industry in America where employees take the most naps on the clock, followed by construction, according to a study by mattress company Amerisleep, which surveyed 1,001 workers.
POSTED OCTOBER 06, 2022 11:27 AM |
Federal review commission affirms trenching citation
The Occupational Safety and Health Review Commission on Wednesday affirmed two serious violations against a contractor that it said failed to provide trenching protections for workers at an excavation site in Austin, Texas, and did not have adequate protocols for discovering violations of its own safety rules.
POSTED OCTOBER 06, 2022 10:12 AM |
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