Insurance Journal
The U.N. weather agency is reporting that 2023 was the driest year in more than three decades for the world’s rivers, as the record-hot year underpinned a drying up of water flows and contributed to prolonged droughts in some places. …
Posted: Oct 10, 2024
Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory ...
Posted: Oct 10, 2024
The Lloyd’s of London market is undermining climate action and should impose binding rules to prevent insurers supporting fossil fuel expansion, NGO Reclaim Finance said on Wednesday. Some European insurers, including Generali and Zurich, have...
Posted: Oct 10, 2024
GSK has agreed to pay up to $2.2 billion to settle most pending U.S. state court lawsuits claiming that a discontinued version of the heartburn drug Zantac caused cancer, the company announced on Wednesday. The settlement with ten plaintiffs’ l...
Posted: Oct 10, 2024
Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar act...
Posted: Oct 10, 2024
With Hurricane Milton now expected to produce several hundred thousand wind-damage claims and with the storm coming so soon on the heels of Hurricane Helene, industry leaders are bracing for significant delays in claims adjusting. “We’re...
Posted: Oct 10, 2024
It’s going to take about two weeks to remove smoldering debris from a Maine town’s trash incinerator after a fire burned in the waste for a week, officials said Tuesday. Firefighters have been stationed continuously at the trash incinerat...
Posted: Oct 10, 2024
Amwins and Floodbase have launched a municipal flood insurance program designed to insure California municipalities against previously uncovered losses due to atmospheric river flooding. The flood program closes the insurance gap with policy payouts...
Posted: Oct 10, 2024
The U.S. Environmental Protection Agency has reached a tentative $4.2 settlement with a firm that owned and operated a major East Coast refinery that was shuttered after an explosion and fire in 2019. The deal with Philadelphia Energy Solutions was &...
Posted: Oct 10, 2024
The state attorney general’s latest report on the deadly 2023 Lahaina wildfire flagged various locked gates that blocked people trying to flee as flaws in Maui’s evacuation planning. Yet a padlocked gate where the largest cluster of Lahai...
Posted: Oct 10, 2024
The Workers’ Compensation Insurance Rating Bureau of California governing committee selected Andrea Coleman, WCIRB executive vice president and chief operating officer, as the organization’s new president and CEO. Coleman’s promotio...
Posted: Oct 10, 2024
This post is part of a series sponsored by Darkhorse Insurance. Are you dipping your toes into commercial insurance sales? Well, hold on tight because selling commercial insurance isn’t your run-of-the-mill business. To navigate these waters su...
Posted: Oct 09, 2024
Marriott International has agreed to settle with the Federal Trade Commission and 50 state attorneys general over a series of data breaches at a guest-reservation system subsidiary. According to multiple statements from the states, Marriott will pay...
Posted: Oct 09, 2024
NEW ORLEANS (AP) — A federal appellate court is reviewing a civil rights lawsuit alleging a south Louisiana parish engaged in racist land-use policies to place polluting industries in majority-Black communities. The Fifth U.S. Circuit Court of Appeal...
Posted: Oct 09, 2024
Hub International Limited (Hub) and WestStar Bank (WestStar), the leading community financial institution in the Borderplex Region, jointly announced the sale of the assets of WestStar Insurance Agency, Inc. (WestStar Insurance) by WestStar to Hub. T...
Posted: Oct 09, 2024
In the wake of wildfires over the weekend affecting parts of NorthDakota, Insurance Commissioner Jon Godfread and State Fire Marshal Doug Nelson are reminding residents of the necessary steps to protect themselves and their property during the recove...
Posted: Oct 09, 2024
NFP, an Aon company and property and casualty (P&C) broker, benefits consultant, wealth manager and retirement plan advisor, announced the acquisition of Richard S. Miller & Sons, Inc. dba Miller Insurance Group (MIG), a P&C and benefits...
Posted: Oct 09, 2024
NORFOLK, Neb. (AP) — The pilot of a small airplane died in a crash near the runway of the airport in Norfolk, Nebraska. Norfolk police said the crash was reported at 7:39 p.m. Monday, about a half-mile south of the …
Posted: Oct 09, 2024
The US is in the early stages of an investigation into potential Chinese hacking of American telecommunications companies, according to a top intelligence official. National Security Agency Director General Timothy Haugh said the NSA, along with othe...
Posted: Oct 09, 2024
Catastrophe modeler Verisk predicted wind, storm surge and flooding from last month’s Hurricane Helene will cause insured losses of between $6 billion and $11 billion. The estimate does not include losses to the National Flood Insurance Program...
Posted: Oct 09, 2024
A Virginia man pled guilty to embezzling funds from his former employer, a fund that provides financial assistance to families of infants who suffer from brain or spinal cord injuries, reports the U.S. Attorney for Eastern Virginia. According to cour...
Posted: Oct 09, 2024
An insurance broker who collected nearly $137,000 in sales commissions by submitting fabricated insurance applications for end-of-life insurance policies in clients’ names without their knowledge, and used those clients’ personal and bank...
Posted: Oct 09, 2024
Hurricane Milton churned toward Florida’s west coast with winds powerful enough to demolish houses, threatening to unleash once-in-a-century flooding across some of the state’s fastest-growing counties. Milton’s top winds dropped sl...
Posted: Oct 09, 2024
A wide cone of uncertainty surrounds insurance experts’ pre-landfall predictions about the state of the industry that will prevail in the aftermath of Hurricane Milton, with most viewing it as a $20 billion-plus loss event. Amid the volumes of...
Posted: Oct 09, 2024
Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast US, it’s already clear that federal flood-risk maps underpinning decisions by millions of American homeowners and businesses are severely out of s...
Posted: Oct 09, 2024