Insurance Journal
Chinese regulators have in recent months asked several large state-owned clients of PricewaterhouseCoopers (PwC) to drop the auditor as it braces for penalties over its work for troubled property developer Evergrande, said two sources. The regulators...
Posted: Aug 05, 2024
Insurers continue to grapple with elusive and ever changing cyber risks in the critical infrastructure sector, and Matthew McCabe, managing director for Guy Carpenter’s Cyber Center of Excellence, said he sees a three-party system emerging betw...
Posted: Aug 05, 2024
A U.S. regulator said on Wednesday it still believes that air bag inflators in 49 million U.S. vehicles assembled by 13 automakers pose serious safety risks and it is considering issuing a recall. The issue has been linked to one …
Posted: Aug 05, 2024
TikTok was sued by the US for allegedly collecting data on children in violation of an online privacy act, three months after the popular video app sued the government over a law that could ban it across the country. In …
Posted: Aug 05, 2024
Just as another potential hurricane bears down on Florida, the child of a central Florida woman is litigating a claim from a previous storm – Hurricane Ian in 2022. This time, though, the plaintiff claims not only breach of contract …
Posted: Aug 05, 2024
New Mexico Gov. Michelle Lujan Grisham has signed legislation that will provide $100 million in emergency aid to victims of recent wildfires and flooding in Lincoln County. The spending bill includes $70 million for local governments to use as zero-i...
Posted: Aug 05, 2024
A Connecticut clinical social worker believes her homeowners insurer should defend and indemnify her against claims she violated patients’ privacy by accessing and sharing their private medical information. She says the lawsuit against her trig...
Posted: Aug 05, 2024
By Ezra Amacher Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the property/casualty and reinsurance sectors, Moody’s Ratings said. Beryl...
Posted: Aug 04, 2024
Had John’s Disposal Service Inc. and John’s Recycling Inc. in Franksville, Wisconsin followed federal safety standards, a temporary maintenance worker might not have suffered severe injuries when their jacket sleeve was pulled into an eng...
Posted: Aug 04, 2024
By Andrew Simpson The Ohio city of East Cleveland must pay a $30 million jury verdict awarded to a man who police wrongly assaulted, arrested and detained, the state’s highest court has ordered. The victim, Arnold Black, went to court …
Posted: Aug 04, 2024
By William Rabb Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with only moderate rate increases and more availability. But those calmer waters apparently have not reached the...
Posted: Aug 04, 2024
As of July 1, home sellers in North Carolina must now disclose previous flood damage to properties. And come Oct. 1, Floridians must make similar disclosures, potentially boosting the demand for flood insurance. The North Carolina Real Estate Commiss...
Posted: Aug 04, 2024
A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association Captive Insurance Co. will b...
Posted: Aug 04, 2024
By Allen Laman Beset with massive rate increases, dramatic rejections of coverage, and severely dwindling market capacity, the current youth sports liability market is historically challenging, according to insurance professionals with expertise in t...
Posted: Aug 04, 2024
There’s something very human about attempting to master nature itself. We live in an uncertain time, however — one in which unpredictable weather patterns make it increasingly difficult to protect our property and communities from severe...
Posted: Aug 04, 2024
Do owners really know which departments or lines of business are making money in their agency? What are small commercial accounts costing the agency? How can the agency make personal lines more profitable? When is it time to hire a …
Posted: Aug 04, 2024
By Patrick Wraight The condominium building is an interesting form of owning property where an individual owns their unit, what is sometimes referred to as a box of air, and at the same time, becomes a part of the condominium …
Posted: Aug 04, 2024
I’m seeing more cases of carriers rescinding policies for application errors, fraud or outright lies (call it what you will) than I’ve ever seen, and these are situations when there is an errors and omission (E&O) claim against the ag...
Posted: Aug 04, 2024
Whether they own their own agency or not, an insurance producer is essentially an independent businessperson. Why? Because a producer’s income, as someone whose primary income is based on commissions, is largely up to the producer. This may be...
Posted: Aug 04, 2024
By Jahna Jacobson The future is diverse and community is key. That’s the message from Ngozi Nnaji, founder and managing partner of Ako Insurance Consultants. She started the agency in response to the growing need for the insurance industry to &...
Posted: Aug 04, 2024
In today’s fast-paced insurance market where time is more precious than ever, the ability to streamline operations and offload routine tasks is invaluable. Communication and relationships remain at the heart of what makes independent agents suc...
Posted: Aug 04, 2024
The toll of damage from recent flooding in Vermont exceeds $6 million, and the state is asking the federal government for help, officials said. Vermont residents dealt with heavy flooding that damaged homes and infrastructure earlier this week and ca...
Posted: Aug 04, 2024
The parties involved in Lahaina wildfire lawsuits against the state of Hawaii, Maui County and utilities are close to a global settlement of claims that will be worth a little over $4 billion, Gov. Josh Green told The Associated Press. …
Posted: Aug 02, 2024
VibraLife of Katy, LLC, a rehabilitation and assisted living facility in Katy, Texas, violated federal law when it denied an employee an accommodation for her sleep disorder and then fired her, the U.S. Equal Employment Opportunity Commission (EEOC)...
Posted: Aug 02, 2024
Exxon Mobil Corp. and QatarEnergy delayed the start of a $10 billion natural gas export project in Texas to the end of next year after lead contractor Zachry Holdings Inc. declared bankruptcy. The companies agreed other contractors could finish work...
Posted: Aug 02, 2024