Insurance Journal
Commercial insurance market Lloyd’s of London is restructuring its data, operations and change departments, which will involve outsourcing some of those units’ work, a Lloyd’s spokesperson said on Thursday. It was too soon to say wh...
Posted: Nov 14, 2024
A federal judge on Wednesday sentenced a North Carolina insurance agent to five years in prison for his role in a decade-long scheme that created fraudulent tax shelters and cheated the U.S. government of more than $22 million in tax …
Posted: Nov 14, 2024
New York Governor Kathy Hochul announced a statewide burn ban is in effect until November 30 due to an increased fire risk as the state continues to experience drought conditions and a record number of outdoor fires. Also, Suffolk County …
Posted: Nov 14, 2024
Doe & Emuss (D&E), the London-based boutique professional liability underwriting manager, has been launched with approved coverholder status at Lloyd’s. D&E is founded and led by industry veterans, Chief Executive David Doe and Mana...
Posted: Nov 14, 2024
Chinese state-sponsored hackers perpetrated a “broad and significant cyber-espionage campaign” in which they breached multiple telecommunications companies, US officials said in a statement on Wednesday, confirming additional details abou...
Posted: Nov 14, 2024
Fidelis Insurance Group, a Bermuda-based global specialty re/insurer, announced a new strategic partnership with Euclid Mortgage Insurance Services LLC, a managing general agency that specializes in underwriting credit risk on portfolios of residenti...
Posted: Nov 14, 2024
A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the lawsuit, now in U.S. District Court …
Posted: Nov 14, 2024
Intact Financial Corp., the Toronto-based property-casualty insurer, announce that it has acquired Jiffy Inc., Canada’s No. 1 home maintenance app. Through this acquisition, Jiffy will have the platform and capabilities to accelerate expansion...
Posted: Nov 14, 2024
Massachusetts remains under a red flag warning as multiple brush fires continue to burn across the state. The warning issued by the National Weather Service indicates that the fires now burning are at high risk of spreading and more difficult …
Posted: Nov 14, 2024
A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the insureds’ right to obtain the same benefits they would have...
Posted: Nov 14, 2024
Typhoon Usagi struck the northern Philippines on Thursday afternoon, the fifth powerful storm to impact the country in three weeks, with the system set to swing north and move toward Taiwan. Usagi, known locally as Ofel, has maximum sustained winds &...
Posted: Nov 14, 2024
Apple Inc. faces a lawsuit from a UK consumer group over allegations its monopoly on data storage breaches competition law, in a fresh class action that could ultimately cost the tech giant billions. The iCloud provider is accused of abusing …
Posted: Nov 14, 2024
Everest Insurance, the insurance division of Everest Group, headquartered in Warren, New Jersey, appointed Nina Corbo to lead U.S. primary casualty and Debbie Weiser to lead U.S. excess casualty. Corbo oversees the risk management and commercial casu...
Posted: Nov 14, 2024
This year’s U.N. climate summit – COP29 – is being held during yet another record-breaking year of higher global temperatures, adding pressure to negotiations aimed at curbing climate change. The last global scientific consensus on...
Posted: Nov 14, 2024
Bank executives and lawyers anticipate the incoming Trump administration to place significant limits on the U.S. Consumer Financial Protection Bureau (CFPB), but the president’s populist leanings could leave room for some activity by the watchd...
Posted: Nov 14, 2024
After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives, including raising premiums to match...
Posted: Nov 14, 2024
After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives, including raising premiums to match...
Posted: Nov 14, 2024
A North Carolina insurance agent who was penalized by regulators almost 20 years ago has given up her producer license after she was charged with pocketing insurance premiums. Lori Ann Crisp, 56, of Kannapolis, was charged with forgery, embezzlement...
Posted: Nov 14, 2024
As with computer models that help predict risk from hurricane winds, insurers now have more than one model to use when gauging flood damage in storm-soaked Florida. The Florida Commission on Hurricane Loss Projection Methodology this month accepted t...
Posted: Nov 14, 2024
Amtrak service in parts of the Northeast was disrupted or delayed Tuesday after a fire broke out near a train route in New York City. Amtrak said initial reports indicated a brush fire stemming from a transformer at an Amtrak …
Posted: Nov 14, 2024
The family of a security guard who was shot and killed at a hospital in Portland, Oregon, sued the facility for $35 million on Tuesday, accusing it of negligence and failing to respond to the dangers that the gunman posed …
Posted: Nov 14, 2024
Executive summary: When actual prices line up with technical prices, insurers expect underwriting profits to emerge. But what if underwriters find ways to adjust technical prices downwards? In the second part of a two-part series, Tony Buckle and Joh...
Posted: Nov 14, 2024
A bicyclist pulling a trailer in Vermont died after he was struck by a police cruiser, state police said. The crash happened just before 3 a.m. Monday on U.S. Highway 7 in South Burlington. The officer, a sergeant with the …
Posted: Nov 14, 2024
The California Labor Commissioner’s Office reached a $942,604 settlement in a case involving a wholesale bakery in Vista that closed its doors without paying 187 workers. Baked in the Sun shut down without paying its employees, resulting in wor...
Posted: Nov 14, 2024
Hub International Ltd. acquired the assets of R.K. Gore & Associates in Lehi, Utah. Robert Gore, owner, and the R.K. Gore & Associates team will join Hub Southern California and Utah. R.K. Gore & Associates will be referred to as …
Posted: Nov 14, 2024