Insurance Journal
The US is paying close attention to the “dark fleet” of tankers carrying restricted oil and doing ship-to-ship transfers in Southeast Asian waters, the State Department’s top energy official said. Countries in the region need to con...
Posted: Oct 22, 2024
Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter. Allianz plans to exit Bajaj Allianz Life Insurance Co. …
Posted: Oct 22, 2024
This post is part of a series sponsored by AgentSync. Historically, carriers have been inclined to treat compliance as a series of necessary checklist items to perform. But by shifting your mindset to see compliance as a function of superior …
Posted: Oct 22, 2024
This post is part of a series sponsored by IAT Insurance Group. In this episode, VP of Aviation Underwriting Rob Lombardo discusses marketplace trends in the Aviation industry following the Aviation Insurance Association Annual Conference. Rob also c...
Posted: Oct 22, 2024
Japanese watchmaker Casio Computer said on Tuesday it will delay the release of its second-quarter earnings due to the impact of a ransomware attack on its accounting process, to mid-November from Nov. 6. Casio, known for its “G-Shock” se...
Posted: Oct 22, 2024
A large communications satellite has broken up in orbit, affecting users in Europe, Central Africa, the Middle East, Asia and Australia, and adding to the growing swarm of space junk clouding our planet’s neighborhood. The Intelsat 33e satellit...
Posted: Oct 22, 2024
The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment ad...
Posted: Oct 22, 2024
State-sponsored residual property markets have seen in influx of risks come in since 2018, with some states growing by more than 200%. According to insurance industry ratings firm AM Best, the policy counts of personal and commercial property Fair Ac...
Posted: Oct 22, 2024
Third quarter 2024 net income at W.R. Berkley Corp. increased to about $365.6 million compared to $333.6 million the same period the prior year on underwriting and investments. Net income was a record for the third quarter, the company said. …
Posted: Oct 22, 2024
Weeks after a chemical warehouse fire in Rockdale County, Georgia, released plumes of toxic smoke, nearby residents can now leave their homes at night after officials lifted a shelter in place order. For the lab’s owner and investors, the troub...
Posted: Oct 22, 2024
A federal appeals court has underscored the high bar that expert witnesses must meet before a court can connect the dots between exposure and illness, a ruling that could have an impact on insurance claims and toxic tort litigation. In …
Posted: Oct 22, 2024
Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had reported more than 221,582 ̷...
Posted: Oct 22, 2024
Starr Insurance reported that South Korea’s Financial Services Commission has granted Starr International Insurance (Singapore) Pte. Ltd., Korea branch, a license to operate in Seoul and begin selling commercial property/casualty insurance thro...
Posted: Oct 22, 2024
Hilcorp Energy Co., the privately held oil producer run by billionaire Jeff Hildebrand, will pay a $9.4 million civil penalty for failing to reduce emissions of methane and volatile gases in New Mexico. It’s the first settlement to address viol...
Posted: Oct 22, 2024
Nearly $75 million in federal grant funds over the next five years will be aimed at helping Alaska Native communities as they grapple with the impacts of climate change. The Alaska Native Tribal Health Consortium is receiving the grant as …
Posted: Oct 22, 2024
A New York town’s highway superintendent is not protected from liability for a collision with another vehicle because he was not actually engaged in work on a highway at the time of the accident, New York’s highest court recently ruled, &...
Posted: Oct 22, 2024
California’s 2025 minimum and maximum temporary total disability rates will increase on Jan. 1, 2025, the Division of Workers’ Compensation announced. The minimum TTD rate will increase from $242.86 to $252.03, and the maximum TTD rate wi...
Posted: Oct 22, 2024
The Vessel, a towering, honeycomb-like sculpture in Manhattan that was popular with tourists before a series of suicides forced its closure in 2021, will reopen Monday with new safety features. The 150-foot (46-meter) structure opened in 2019 as the...
Posted: Oct 22, 2024
William Berg, an insurance producer and former financial advisor from Waukee, Iowa, was sentenced to nine years in prison on Friday after pleading guilty in federal court to wire fraud and money laundering charges. In addition to his prison sentence,...
Posted: Oct 21, 2024
Texas Attorney General Ken Paxton announced the state has secured a settlement with Marriott International, Inc., that resolves an investigation into a breach of one of the company’s reservation databases. The breach exposed 131 million guest r...
Posted: Oct 21, 2024
Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted work. Perplexity’s search...
Posted: Oct 21, 2024
Applied Underwriters Aerospace, headquartered in Atlanta, has named Richard Parker as chairman of the Washington, D.C.-based group. Parker has over 35 years of experience in space insurance, satellite engineering and satellite and launch vehicle proc...
Posted: Oct 21, 2024
Dozens of farmers in Iowa, Minnesota and Wisconsin are scrambling to feed their flocks after a struggling organic broiler chicken producer abruptly closed a year after getting a $39 million federal loan. Pure Prairie Poultry shuttered its Charles Cit...
Posted: Oct 21, 2024
DONALDSONVILLE, La. (AP) — Seventeen cars of a train derailed in south Louisiana on Friday, and several leaked a chemical used to sanitize swimming pools, but authorities said it was not a threat to the public. It was not immediately …
Posted: Oct 21, 2024
Cuba was dealing with heavy rains and winds today from Tropical Storm Oscar, even as it continues to deal with a prolonged blackout affecting a large swath of the island. According to the U.S. National Hurricane Center, Oscar made landfall …
Posted: Oct 21, 2024