Insurance Journal
A U.S. Senate Judiciary subcommittee overseeing technology issues will hold a hearing Tuesday on Chinese hacking incidents, including a recent incident involving American telecom companies. The hearing to be chaired by Senator Richard Blumenthal will...
Posted: Nov 19, 2024
Guy Carpenter, the reinsurance specialist and a business of Marsh McLennan, announced it has entered into an agreement to acquire the remaining 51.5% of shares of Carpenter Turner, an Athens-based regional leader in the reinsurance broking and adviso...
Posted: Nov 19, 2024
Ex-Barclays CEO Jes Staley gave misleading answers to Britain’s Financial Conduct Authority about his dealings with Jeffrey Epstein when it was investigating his relationship with the disgraced financier, the FCA’s lawyers alleged on Mond...
Posted: Nov 19, 2024
AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) to Standard and Preferred Insurance Co. of Kew Gardens, New York. The outlook assigned to these ratings is stable. A...
Posted: Nov 19, 2024
The Philadelphia Eagles football organization wants to force its case for Covid-19 business interruption insurance against insurer Factory Mutual Insurance Co. into overtime, arguing that its case is unlike any other that already has been decided. Th...
Posted: Nov 19, 2024
Economic losses caused by natural catastrophes reached an estimated US$280 billion in 2023, with US$51.6 billion of that total due to floods, according to Swiss Re Institute. As climate change intensifies extreme weather events and rapid urban sprawl...
Posted: Nov 19, 2024
A German court said on Monday that Facebook users whose data was illegally obtained in 2018 and 2019 were eligible for compensation. The Federal Court of Justice (BGH) ruled that the loss of control over one’s data online was grounds …
Posted: Nov 19, 2024
Wesfarmers-owned Bunnings, the country’s biggest home improvement chain, breached the privacy of thousands of customers by using facial recognition technology without gaining consent, an Australian watchdog has found. Bunnings compared the face...
Posted: Nov 19, 2024
An undersea data cable connecting Finland and Germany was cut in the early hours of Monday by what was likely an external impact and a nearby link between Lithuania and Sweden was also damaged. The 1,200-kilometer (750-mile) high-speed fiber optic &#...
Posted: Nov 19, 2024
Florida employers will soon see the smallest decrease in workers’ compensation rates in years – just a 1% reduction from current overall rates in the voluntary market. The Florida Office of Insurance Regulation announced Monday that the insuran...
Posted: Nov 19, 2024
When Hurricane Beryl was rushing across the Atlantic basin in July, the weather forecasting tool made by Google Deepmind, the tech company’s artificial intelligence unit, saw something other models missed. Deepmind’s AI-driven program, ca...
Posted: Nov 19, 2024
If the pace of product recalls continues in the fourth quarter, the number will reach a six-year high by the end of the year, a new report from Sedgwick shows. Year-to-date there have been 2,454 product recalls across five key …
Posted: Nov 19, 2024
ST. LOUIS (AP) — Two Missouri police officers were indicted separately this week and accused of similar crimes — pulling over women and searching their phones to find nude photos. The indictments of former Missouri State Highway Patrol officer David...
Posted: Nov 19, 2024
The U.S. Chemical Safety and Hazard Investigation Board (CSB) released an update on its investigation into the hazardous ammonia release at a food processing facility in Sterling, Virginia that injured dozens of employees. The July 31, 2024 incident...
Posted: Nov 19, 2024
The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by est...
Posted: Nov 19, 2024
A construction industry captive insurer along with three construction contractors have filed a lawsuit alleging a massive New York fraud scheme involving staged workplace accidents and bogus workers’ compensation and personal injury lawsuits ba...
Posted: Nov 19, 2024
Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places. Flooding ra...
Posted: Nov 18, 2024
A federal judge reduced a $237.6 million jury award against United Parcel Service to $39.6 million in the case of a Black former driver who accused the package delivery company of workplace bias and wrongful firing. In a decision made …
Posted: Nov 18, 2024
California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 200,000 policyholders affected by the Mountain Fire, which has destroyed 243 structu...
Posted: Nov 18, 2024
The Texas Surplus Lines Association, Inc. announces the election of the following Officers and Directors at its 69th Annual Meeting held at the Four Seasons Hotel Austin on November 11, 2024. President – Robert McEwen, MBA, CIC, The Parks Group, R...
Posted: Nov 18, 2024
Inszone Insurance Services announced the acquisition of LIA Texas, LLC, an agency based in Dallas, Texas. This strategic acquisition enhances Inszone’s footprint in Texas, enhancing the company’s ability to provide personalized service an...
Posted: Nov 18, 2024
A pair of small earthquakes were reported in Southern California’s Inland Empire on Saturday, according to the U.S. Geological Survey. The first magnitude 3.5 earthquake occurred at 2:17 p.m. northwest of Fontana. It was 1. 7 miles deep, accord...
Posted: Nov 18, 2024
The U.S. auto safety regulator said on Monday it had initiated a recall query into about 112,567 Ford SUVs over an issue with seat belt retractors. The National Highway Traffic Safety Administration said it had received three complaints, alleging an...
Posted: Nov 18, 2024
Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS. This insured price tag includes losses absorbed by the Consorcio de Compensación de Seguros (CCS)...
Posted: Nov 18, 2024
After ditching two-thirds of its office space and selling its Chicago headquarters, Allstate Corp. realized that even employees who prefer working remotely still need a place to gather with their coworkers from time to time. In the coming months, a &...
Posted: Nov 18, 2024