Insurance Journal

Mother of 8-Year-Old ‘Violently Sucked’ Into Houston Hotel Pool Files Wrongful Death Suit

The mother of an 8-year-old Texas girl who died over the weekend after being “violently sucked” into a gap in a hotel’s pool system has filed a wrongful death lawsuit against the hotel seeking damages in excess of $1 million. &#8230...

Posted: Mar 28, 2024

Foreign Firms’ Losses From Exiting Russia Top $107 Billion

The corporate exodus from Russia since its 2022 invasion of Ukraine has cost foreign companies more than $107 billion in writedowns and lost revenue, a Reuters analysis of company filings and statements showed. The volume of losses have increased by...

Posted: Mar 28, 2024

Update: Foreign Firms’ Losses From Exiting Russia Top $107 Billion

The corporate exodus from Russia since its 2022 invasion of Ukraine has cost foreign companies more than $107 billion in writedowns and lost revenue, a Reuters analysis of company filings and statements showed. The volume of losses have increased by...

Posted: Mar 28, 2024

Private Space-Station Maker Sued Over Claims Radio Bands Misused

Vast Space LLC, founded by cryptocurrency billionaire Jed McCaleb, is being sued by a former engineer who claimed he was fired for refusing to use improper radio frequencies in designs for a commercial space station the company hopes to launch &#8230...

Posted: Mar 28, 2024

Deadly Lithium Battery Fires Force Lawmakers to Play Catch-Up on Safety

For a decade, Illinois state Sen. Sue Rezin has recognized the technological and economic potential of lithium-ion batteries. Rezin, a Republican who serves in a district that is a major chemical and energy industry hub southwest of Chicago, also rec...

Posted: Mar 28, 2024

The Target Markets, The Institutes Launch Program Business Professional Designation

The Target Markets Program Administrators Association (TMPAA) and The Institutes Knowledge Group created a new credential for program insurance professionals, the Program Business Professional (PBP) designation. The PBP designation is set to official...

Posted: Mar 28, 2024

Former California Insurance Agent Found Guilty of Taking $1.2M from Victims

Former licensed insurance agent Brett E. Lovett, 53, of Camarillo, California, was found guilty of 29 felony counts including grand theft, elder abuse, money laundering, and burglary after a 15-month California Department of Insurance investigation r...

Posted: Mar 28, 2024

BlackRock Gets Legal Warning Over ESG Funds From Mississippi

BlackRock Inc. faces the prospect of being barred from offering securities in Mississippi after state officials accused the investment firm of making “fraudulent” statements regarding its climate strategy. This marks at least the second t...

Posted: Mar 28, 2024

Man Pleads Guilty to Hacking Computers of Georgia City Police and Medical Clinic

Robert Purbeck, also known as “Lifelock,” and “Studmaster,” who hacked into the computer servers of the police department of Newnan, Georgia and a medical clinic in Griffin, Georgia, has pleaded guilty to federal charges of co...

Posted: Mar 28, 2024

Lawmakers Want Investigations Into Deaths of Older Adults in Abuse or Neglect Cases

Republican state lawmakers in Pennsylvania are pushing Gov. Josh Shapiro’s administration to do more to investigate the deaths of older adults who are the subject of an abuse or neglect complaint after Pennsylvania recorded a steep increase in...

Posted: Mar 28, 2024

California Beefing up Recruitment for Inspectors to Better Enforce Workplace Laws

California’s Department of Industrial Relations is beefing up a statewide effort to recruit inspectors and investigators throughout California to more thoroughly enforce labor and workplace laws. The DIR is hiring enforcement staff for Cal/OSHA...

Posted: Mar 28, 2024

Symptom Check: How Do You Know If You Have a Compliance Problem?

This post is part of a series sponsored by AgentSync. Compliance and producer management are like the proverbial frog boiling in the pot. If you walked in fresh to a new organization, disordered compliance practices, manual processes, and missing pro...

Posted: Mar 27, 2024

Accuweather Predicts Above-Average 2024 Atlantic Hurricane Season

Accuweather meteorologists are predicting an above-average Atlantic hurricane season with as many as 20-25 named storms. The 2024 hurricane season is forecast to feature 8-12 hurricanes including 4-7 major hurricanes. This year has the potential to b...

Posted: Mar 27, 2024

People Moves: Lockton Taps Marsh’s Gill to Build Technology Specialty Practice

Lockton Taps Marsh’s Gill to Build Technology Specialty Practice Lockton, the independent insurance broker, announced that Manpreet “Preet” Gill is joining the firm’s technology specialty to build and grow a practice focused o...

Posted: Mar 27, 2024

Dairy Cattle in Texas and Kansas Test Positive for Bird Flu

Milk from dairy cows in Texas and Kansas has tested positive for bird flu, U.S. officials said Monday. Officials with the Texas Animal Health Commission confirmed the flu virus is the Type A H5N1 strain, known for decades to cause …

Posted: Mar 27, 2024

People Moves: Powers Insurance & Risk Management Hires Steinkoetter

Powers Insurance & Risk Management, headquartered in St. Louis, hired Josh Steinkoetter as a commercial lines sales account executive. Steinkoetter brings 20 years of experience in the insurance industry to the role. Before joining Powers, he was...

Posted: Mar 27, 2024

People Moves: Files Joins Alliant Team in Houston

Alliant Insurance Services, headquartered in Irvine, California, hired April Files as senior vice president within the Alliant Americas division. Based in Houston, Texas, Files will service industries in the Southwest and nationally. Files comes to A...

Posted: Mar 27, 2024

People Moves: AXA XL Promotes Cole to Global Chief Underwriting Officer for Marine; DUAL’s Specialis...

This edition of International People Moves details appointments at AXA XL and DUAL’s specialist motor MGA KGM. A summary of these new hires follows here. AXA XL Promotes Cole to Global Chief Underwriting Officer for Marine AXA XL has promoted &...

Posted: Mar 27, 2024

Two Iowa Men Sentenced in Workers’ Comp Fraud Scheme

Two Iowa men were sentenced this month in connection with workers’ compensation fraud. Trey Wysocki, age 40, of New Virginia was sentenced on March 11, 2024, after pleading guilty to one count of Insurance Fraud – Presenting False Informa...

Posted: Mar 27, 2024

Disney Ends Fight With Governor DeSantis by Settling Florida Lawsuit

A board appointed by Ron DeSantis to oversee the municipal authority that governs Walt Disney Co. in Florida has voted to settle a state lawsuit against the company. The board of the Central Florida Tourism Oversight District unanimously approved a &...

Posted: Mar 27, 2024

Canada’s Desjardins Acquires Insurance Company of Prince Edward Island

Canada-based Desjardins, through its subsidiary Desjardins General Insurance Group Inc., and ICPEI Holdings Inc. announced they have entered into definitive agreements for Desjardins to indirectly acquire all of ICPEI’s issued and outstanding s...

Posted: Mar 27, 2024

Hospitality Workers Ratify New Contract with 34 Southern California Hotels

Thousands of Southern California hospitality workers overwhelmingly ratified a new contract with 34 hotels after repeated strikes since the summer, their union announced. Workers won higher pay, increased employer contributions to pensions, and fair...

Posted: Mar 27, 2024

Rite Aid Says It’s Close to Bankruptcy Settlement

Pharmacy chain Rite Aid has reached a settlement with its lenders, the U.S. Department of Justice, and drug supplier McKesson Corp., clearing a path for Rite Aid to complete its bankruptcy case by late April, a company lawyer said Tuesday. …

Posted: Mar 27, 2024

2 Crew Members Die During ‘Incident’ on Holland America Cruise Ship

FORT LAUDERDALE, Fla. (AP) — Two crew members on a Holland America cruise ship died during an “incident” in the ship’s engineering space, the cruise line said. The unidentified crew members died Friday while the Florida-based Nieuw...

Posted: Mar 27, 2024

Subaru to Recall More Than 118,000 Vehicles in US: NHTSA

Subaru of America is recalling 118,723 SUVs and sedans in the U.S. over an issue which prevents air bags from deploying in a crash, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday. The recall covers certain Outback and &#...

Posted: Mar 27, 2024