Insurance Journal

Mailing a Letter, in Context With Other Clues, Is Sufficient Cancellation – NC High Court

Simply mailing a cancellation notice to a policyholder, when viewed in the context of other indicators, was enough to comply with state law and void a homeowner’s insurance policy shortly just weeks before a fire destroyed a home, the North &#8...

Posted: Aug 26, 2024

FCBI, a Florida Workers’ Comp Fund, Acquires MidSouth Mutual in Tennessee

FCBI, a self-insurance fund founded 45 years ago to provide workers’ compensation plans to Florida citrus growers, is expanding well beyond the Sunshine State with the acquisition of MidSouth Mutual Insurance Co. in Tennessee. MidSouth has been...

Posted: Aug 26, 2024

J&J in Talks With Holdouts to $6.5 Billion Talc Settlement

Johnson & Johnson said on Friday it is negotiating with plaintiffs’ lawyers who have opposed the company’s proposed settlement of lawsuits alleging its baby powder and other talc products caused cancer, seeking to eliminate holdouts t...

Posted: Aug 26, 2024

Worker Dies After Excavator Is Buried Under Rocks at Massachusetts Quarry

A worker was killed last Thursday morning after a portion of a rock ledge collapsed onto an excavator with the worker inside, burying it under rocks and boulders at a quarry site in Massachusetts. Firefighters and other rescue agencies responded &#82...

Posted: Aug 26, 2024

Crest Insurance Acquires Benefits Specialist DWA in Arizona

Crest Insurance Group acquired Dan Weinstein and Associates in Scottsdale, Arizona. DWA principal Dan Weinstein, who has more than 20 years of industry experience in the group benefits space, will join Crest along with the DWA staff. DWA is an &#8230...

Posted: Aug 26, 2024

Jury Sides With Teacher in Suit Against District Over Jan. 6 Rally

A Pennsylvania school district violated a teacher’s constitutional rights by falsely suggesting he took part in the U.S. Capitol riot on Jan. 6, 2021, a federal jury has concluded. After an 11-day trial, jurors found the Allentown School Distri...

Posted: Aug 26, 2024

Medical Marijuana User Fired After Drug Test Loses Unemployment Benefits Appeal

A Vermont man who was fired from his job after he said a random drug test showed he used medical marijuana while off duty for chronic pain has lost his appeal to the Vermont Supreme Court over unemployment benefits. Ivo …

Posted: Aug 26, 2024

Jury sides with Pennsylvania teacher in suit against district over Jan. 6 rally

By MICHAEL RUBINKAM Associated Press A Pennsylvania school district violated a teacher’s constitutional rights by falsely suggesting he took part in the U.S. Capitol riot on Jan. 6, 2021, a federal jury has concluded. After an 11-day trial, jur...

Posted: Aug 25, 2024

Fires Spotted on Red Sea Tanker Drifting With Oil on Board

The UK Navy said that three fires have been observed on a ship attacked in the Red Sea earlier this week. The Sounion’s crew were evacuated from the ship in the past few days after the vessel was struck by …

Posted: Aug 23, 2024

Texas and Southwest Face Scorching Heat Wave

AUSTIN, Texas (AP) — Summer heat scorched Texas and the Southwest this week, pushing Phoenix to nearly 90 consecutive days of triple-digit temperatures and putting millions of people under excessive heat warnings. Meanwhile, energy demand in Texas hi...

Posted: Aug 23, 2024

OneDigital Expands With Acquisition of Elite Insurance in Tennessee

OneDigital, an insurance brokerage, financial services and human resources firm based in Atlanta, has acquired Elite Insurance Solutions, a property-casualty insurance agency in Franklin, Tennessee, the company announced this week. Elite was founded...

Posted: Aug 23, 2024

Blackouts in Extreme Weather Create Demand for Cleaner Backup Power

Software engineer Kenna Ofoegbu in Houston, Texas tries hard to keep his three kids cool during the summer and that means air conditioning. Yet their house has lost power three times in just the past two and a half months. …

Posted: Aug 23, 2024

People Moves: Hub Names Smith President of Carolinas Ops

Hub International Ltd., the global insurance broker, has named Tim Smith president and CEO of its operations in the Carolinas. Smith was previously the chief sales officer at Hub International Carolinas and was a Charlotte-area market leader. Before...

Posted: Aug 23, 2024

Arkansas County to Pay $3M Settlement Over Detainee’s 2021 Death in Jail

FORT SMITH, Ark. (AP) — A county in western Arkansas has approved a $3 million settlement with the family of a man who died from dehydration and malnutrition while being held in a local jail. The Sebastian County Quorum Court …

Posted: Aug 23, 2024

Vibrant Green Fields Signal a Big US Corn Crop and Weak Prices

Between hail, strong winds, floods and plant disease, US corn crops were put through some tough times this summer. But somehow, the fields of green blanketing America’s heartland have proved to be ever resilient. Those are the findings heading...

Posted: Aug 23, 2024

FBI: From Cybercrime to Terrorism, America Faces Many Elevated Threats ‘All at Once’

The country is facing heightened threats from many corners at a time when law enforcement agencies are struggling, FBI Director Christopher Wray said in an exclusive interview, adding that he is “hard pressed to think of a time in my …

Posted: Aug 23, 2024

Fed’s Powell Says ‘Time Has Come’ to Cut Interest Rates

JACKSON HOLE, Wyoming, Aug 23 (Reuters) – Federal Reserve Chair Jerome Powell said on Friday “the time has come” for the U.S. central bank to cut interest rates as rising risks to the job market left no room for further …

Posted: Aug 23, 2024

Parent of Risk Strategies and One80 Intermediaries Closes $1 Billion Financing Deal

Accession Risk Management Group, the parent company of specialty insurance brokerages Risk Strategies and One80 Intermediaries, reports it has closed a $1 billion incremental debt raise and refinancing. Accession Risk Management Group is a portfolio...

Posted: Aug 23, 2024

Complex Salvage Operations Begin as Last Body Is Recovered From Wrecked Superyacht

Italian divers have retrieved the body of British tech magnate Mike Lynch’s18-year-old daughter, Hannah, who was the last person still unaccounted for after the family’s luxury yacht sank this week off Sicily. Seven people, including Lync...

Posted: Aug 23, 2024

Tornado-Like Waterspouts Are ‘More Likely’ as the Mediterranean Warms

The type of weather phenomenon that may have led billionaire Mike Lynch’s yacht to sink in the Mediterranean this week is now more likely to happen as global warming has raised sea temperatures, according to climate experts. The tech tycoon&#82...

Posted: Aug 23, 2024

London-Based Ship Registry Helps Russia Oil Tankers Keep Running

Three oil tankers that are under British sanctions for transporting Russian petroleum are sailing under the flag of a nation that bases its operations in London. The Galaxy, the Liberty and the Rigel, all of which moved barrels for Moscow …

Posted: Aug 23, 2024

Markets/Coverages: Ascot Launches Capital Mgmt Platform for 3rd-Party Capital Biz

Ascot Group Ltd., the Bermuda-based global specialty insurance company, announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business. Under this newly formed platform...

Posted: Aug 23, 2024

Greece Braces for More Wildfires While Storm Lilian Crosses UK

Greek wildfire risks increased as temperatures climb and near gale force winds blow across the Aegean Sea, while Storm Lilian is battering parts of the UK. There is a very high risk of fires in Athens and the surrounding Attica …

Posted: Aug 23, 2024

Update: Greece Battles Wildfires While Storm Lilian Crosses UK

Greek wildfire risks increased as temperatures climb and near gale force winds blow across the Aegean Sea, while Storm Lilian is battering parts of the UK. Firefighters, supported by helicopters, are trying to control an outbreak in Paiania, on easte...

Posted: Aug 23, 2024

People Moves: Miraglia and Rusas Join Alliant M&A from WTW; Embroker’s Maletsky Joins Hiscox’s Tech...

Alliant Insurance Services, headquartered in Irvine, California, hired Peter Miraglia as executive vice president, Alliant Specialty, within the company’s mergers & acquisitions vertical. Miraglia brings over three decades of insurance indu...

Posted: Aug 23, 2024