Insurance Journal
The Iowa Insurance Commissioner Doug Ommen was appointed the receiver of Beckstone Partners, LLC (Beckstone), DesFined, LLC (DesFined), East King Management, LLC, and The Corporate Leasing Company, LLC to wind down the operation of the businesses and...
Posted: Jul 25, 2024
A bankruptcy judge on Wednesday approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant....
Posted: Jul 25, 2024
CHICAGO (AP) — Temarkus Washington says the sexual abuse he experienced as a teenager at a troubled Chicago youth detention center still gives him nightmares. The 35-year-old spoke publicly about his experiences Tuesday, a day after joining two lawsu...
Posted: Jul 25, 2024
Typhoon Gaemi took aim at China after tearing across the Philippines and Taiwan, where it knocked out power to hundreds of thousands of homes, flooded streets and left at least 24 people dead. After passing south of densely populated Taipei, …
Posted: Jul 25, 2024
Authorities in Taiwan raced to find crew missing from a ship that capsized in bad weather after Typhoon Gaemi ripped through the region before losing strength as it heads toward China. Nine Myanmar nationals were missing from a cargo vessel …
Posted: Jul 25, 2024
The number of Japanese citizens fell at the fastest clip last year since data collection began in the 1960s, adding pressure on the nation’s social security system and shrinking labor market. The population of Japanese nationals dropped by more...
Posted: Jul 25, 2024
Democratic U.S. senators on Tuesday introduced a bill designed to undo a ruling last month by the U.S. Supreme Court that curtailed the ability of federal agencies to issue regulations addressing issues including the environment, consumer protection...
Posted: Jul 25, 2024
A class action lawsuit is being brought on behalf of more than 350,000 policyholders against the California FAIR Plan over smoke damage coverage. Dylan Schaffer, an attorney representing the plaintiffs, told SiliconValley.com the idea behind the suit...
Posted: Jul 25, 2024
A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter. In the …
Posted: Jul 25, 2024
A Santa Fe District Court ruling that State Farm and Casualty Co. does not have to comply with a provision of the New Mexico Superintendent of Insurance emergency order for insurers to pay $5,000 in living expenses to policyholders forced …
Posted: Jul 25, 2024
This post is part of a series sponsored by PCF Insurance Services. In this first installment of a three-part series, PCF Healthcare Practice Leader Brian King examines the vital elements of medical malpractice insurance. As a PCF Healthcare Practice...
Posted: Jul 24, 2024
AM Best announced it has withdrawn credit ratings of Mt. Morris Mutual Insurance Company in Coloma, Wisconsin, less than a week after the credit rating agency downgraded the company’s ratings. AM Best said it withdrawn Mt. Morris’ ratings...
Posted: Jul 24, 2024
Encova Insurance, headquartered in Columbus, Ohio, named Michelle Shaver as senior vice president, small business, commercial lines, and Carrie Lowe as vice president, package lines underwriting. Shaver most recently was a small business leader for C...
Posted: Jul 24, 2024
BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion-pound claim over one of Brazil’s worst environmental disasters, London’s High Court ruled on Tuesday. More than 720,000 B...
Posted: Jul 24, 2024
Attorneys general from 14 states, most of them in the South, are urging the Federal Housing Finance Agency to back off a pilot program that would remove age-old title insurance requirements from some home loans sold to Fannie Mae. “The …
Posted: Jul 24, 2024
The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist reinsurance MGA) to focus on i...
Posted: Jul 24, 2024
The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist reinsurance MGA) to focus on i...
Posted: Jul 24, 2024
Jewelers Mutual Group acquired Union Life & Casualty Insurance Agency in Phoenix, Arizona. JM Insurance Agency Partners Inc., a Jewelers Mutual Group company, will join with UL&C. UL&C has been in the insurance business since 1965, specia...
Posted: Jul 24, 2024
The wife of a former San Antonio trucking magnate was sentenced this month in a multi-million-dollar fraud scheme. Frances Hall, former co-owner of Bill Hall Jr. Trucking, was sentenced for her role in a scheme to avoid $9 million in …
Posted: Jul 24, 2024
U.S. Fortune 500 companies, excluding Microsoft, will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday. CrowdStrike’s faulty update to its security software crashed computers powered...
Posted: Jul 24, 2024
The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber i...
Posted: Jul 24, 2024
A Louisiana businessman who sent more than 800 elderly residents from his seven nursing homes to ride out Hurricane Ida in a crowded, ill-equipped warehouse pleaded no contest to 15 criminal counts Monday and was sentenced to three years of …
Posted: Jul 24, 2024
JAMESTOWN, N.D. (AP) — Two boys died when the SUV they were in crashed and ended up in a small pond along the side of a highway in North Dakota. The driver and five other children were injured in the …
Posted: Jul 24, 2024
NFP, an Aon company and property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, announced the acquisition of Southern Insurance Agency LLC (SIA), a commercial property and casualty broker located in New Orleans....
Posted: Jul 24, 2024
Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time in nearly seven years – since the ̷...
Posted: Jul 24, 2024