Insurance Journal
NEW ORLEANS (AP) — Louisiana’s Supreme Court agreed Friday to reconsider its recent ruling that wiped out a state law giving adult victims of childhood sexual abuse a renewed opportunity to file damage lawsuits. The law was passed by the …...
Posted: May 13, 2024
Arthur J. Gallagher & Co. announced the acquisition of Cedar Rapids, Iowa-based Acumen Advisors, Inc. Terms of the transaction were not disclosed. Acumen is an employee benefits consultant serving small and mid-size businesses throughout Iowa. An...
Posted: May 13, 2024
SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corp. (ACIC) on Thursday reported first-quarter earnings of $23.6 million. The Saint Petersburg, Florida-based company, the rebranding of part of now-insolvent United Property & Casualty In...
Posted: May 13, 2024
American Coastal Insurance Corp. (ACIC) has agreed to sell its subsidiary Interboro Insurance Co., a New York domiciled insurer, to Forza Insurance Holdings, a Houston-based firm that funds insurance organizations serving coastal property owners. For...
Posted: May 13, 2024
Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense payments, according to a new AM Best report. Accord...
Posted: May 13, 2024
A driver going the wrong way on Connecticut’s Merritt Parkway crashed head-on into a minivan early Thursday, killing all four people in the vehicles and closing one side of the highway for nearly seven hours, state police said. State police ...
Posted: May 13, 2024
SANFORD, Fla. (AP) — With the start of hurricane season less than a month away, U.S. officials who predict, prepare for and respond to natural disasters had a message for Floridians on Friday: It’s not a matter of if a …
Posted: May 13, 2024
Two confirmed tornadoes and storms packing hurricane-force winds killed at least one woman Friday in Florida as a week of deadly severe weather continued in the South, where uprooted trees crashed onto homes and knocked out electricity to thousands i...
Posted: May 13, 2024
Insurer Bowhead Specialty is targeting a valuation of about $491 million in its initial public offering in the United States, as it joins a slew of companies preparing to list amid a rebound in the capital markets. The company is …
Posted: May 13, 2024
India’s ship certification agency has withdrawn safety cover issued to Russian oil tankers that have been placed under U.S. sanctions, according to its website, with the vessels instead turning to a domestic provider. Major insurers and ship en...
Posted: May 13, 2024
Insurance broker WTW has formed a partnership with Riskonnect to pilot an analytical delivery tool that connects claims and exposure data through its new offering WTW Risk IQ API (application programming interface). The collaboration between Riskonne...
Posted: May 13, 2024
This edition of International People Moves details appointments at Tokio Marine HCC – Specialty Group and The London P&I Club. A summary of these new hires follows here. Tokio Marine HCC Expands Product Recall Offering With 2 Hires From AXA...
Posted: May 13, 2024
A Russian court on Monday suspended the corporate rights of the Cyprus-registered holding companies of private lender Alfa Bank and its insurance arm Alfastrakhovanie, according to a court filing. The finance ministry earlier said that “anti-Ru...
Posted: May 13, 2024
PoloWorks, a Lloyd’s and London Market insurance services business, announced the launch of Polo MGA – a managing general agent (MGA) incubator. This new offering provides services to both startup and established MGAs ranging from support with...
Posted: May 13, 2024
The south of Brazil is preparing for the arrival of new rains and colder temperatures that threaten to deepen a crisis created by the historic floods that have deluged the region. As much as 300 millimeters (11.8 inches) of rain …
Posted: May 13, 2024
A European naval force detained six suspected pirates on Friday after they opened fire on an oil tanker traveling through the Gulf of Aden, officials said, likely part of a growing number of piracy attacks emanating from Somalia. The attack …
Posted: May 13, 2024
The season’s first major wildfires have spread to roughly 10,000 hectares (24,710 acres) across Western Canada on Sunday as authorities issued an evacuation order for a community in British Columbia and warned of poor air quality across provinc...
Posted: May 13, 2024
LUBBOCK — A decayed utility pole that broke, causing power wires to fall on dry grass in the Texas Panhandle, sparked the state’s largest wildfire in history, a Texas House committee confirmed Wednesday. And other poorly maintained power equipm...
Posted: May 13, 2024
The risk models that helped drive one of the most lucrative bets of 2023 are increasingly being tested by smaller weather shocks fueled by climate change. Catastrophe bonds and other insurance-linked securities, which powered last year’s highes...
Posted: May 13, 2024
The U.S. Supreme Court on Thursday ruled in favor of a Miami music producer in a legal fight with Warner Music over a song by rapper Flo Rida, finding that there is no time limit for recovering monetary damages in …
Posted: May 13, 2024
The hacking group accused of disrupting casinos and hotels at MGM Resorts International last year is engaged in a new campaign targeting banks and insurance companies, according to cybersecurity researchers. The group, known as Scattered Spider, has...
Posted: May 13, 2024
The Florida Office of Insurance Regulation in recent weeks has fined five property and casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to properly handle hundreds of cla...
Posted: May 13, 2024
Maryland Gov. Wes Moore signed two measures into law on Thursday that are aimed at better protecting personal data online from Big Tech, including a bill making Maryland the second state to try to create strong limits on information collected …
Posted: May 13, 2024
The Catholic church is refusing to cooperate with a Washington state investigation into whether it unlawfully used charitable trust funds to cover up sexual abuse by priests, Attorney General Bob Ferguson said, asking a court to force the Seattle Arc...
Posted: May 13, 2024
Forecast temperatures in Washington this week are exapted to will trigger protections designed to prevent heat-related illness in agriculture, landscaping, construction, and other outdoor jobs. The forecasted temperatures above 90 degrees in Eastern...
Posted: May 13, 2024