Insurance Journal
The 911 system across Massachusetts was restored Tuesday after going down for several hours, which made it impossible for anyone to reach emergency services through the call number. The Massachusetts State Police announced around 3:45 p.m. that the s...
Posted: Jun 20, 2024
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70% attributable to five wind and ha...
Posted: Jun 20, 2024
Estimated insured losses from flooding, which hit Southern Germany on May 15-June 5, will range from €2.4 billion (US$2.6 billion) to €3.6 billion (US$3.9 billion), according to Verisk, the data analytics and technology firm. Moody’s RMS recent...
Posted: Jun 20, 2024
The sinking of a coal-carrier by a sea drone has boosted the risk of navigating the vital Bab el-Mandeb chokepoint to a new level and is driving a fresh surge in insurance costs. The British navy said Tuesday that the …
Posted: Jun 20, 2024
The number of companies saying they have a climate transition plan in line with the world’s most ambitious goal has jumped by nearly half, but many do not give investors enough information to check the claims, according to non-profit data ̷...
Posted: Jun 20, 2024
Tropical Storm Alberto is strengthening as the system neared the Gulf coast of Mexico, and is expected to dump heavy rain across the northeast of the country and into southern Texas. The center of Alberto is expected to reach the …
Posted: Jun 20, 2024
Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laund...
Posted: Jun 20, 2024
Urgent action must be taken in the Red Sea to stop attacks on merchant shipping by Yemen’s Houthis, leading industry groups said on Wednesday, after the sinking of a second ship. Iran-aligned Houthi militants first launched drone and missile st...
Posted: Jun 20, 2024
Hundreds of UK banks, brokers and insurers missed a deadline to respond to the financial watchdog’s survey on sexual harassment and bullying in the City, suggesting that firms are struggling to grasp the scale of the problem. In February, the &...
Posted: Jun 20, 2024
With temperatures pushing above 90 degrees in parts of the Midwest and Northeast United States this week, many American workers are clocking in during what AccuWeather described as an “intense heat wave that is impacting more than 135 million p...
Posted: Jun 20, 2024
An annual report from Chubb has revealed a couple of troubling trends for many businesses—the frequency and severity of large losses are up and companies are underestimating the amount of liability coverage they need. “The delta between liabili...
Posted: Jun 20, 2024
Most U.S. homeowners don’t know the policy covering their home doesn’t cover flooding, a new survey shows. Respondents in a survey out this week from Trusted Choice, a group representing the members of the Independent Insurance Agents ...
Posted: Jun 20, 2024
Thousands of car dealerships were ground to a halt during a normally busy holiday Wednesday by a cyber incident at CDK Global, a major software provider for dealers across the US. The company “shut all systems down and executed extensive …...
Posted: Jun 20, 2024
Farmers Insurance officials this week said they have spoken with employees after receiving an anonymous letter, apparently from a group of in-house adjusters, accusing the insurer of understaffing and overworking claims professionals. “Farmers...
Posted: Jun 20, 2024
A federal appeals court has declined to intervene in state regulatory proceedings in Maryland involving allegations of redlining by Erie Insurance, despite Erie’s complaints that the regulator has already shown bias against it and is likely to...
Posted: Jun 20, 2024
A group representing claimants alleging childhood sexual abuse want New York courts to take steps to alleviate the backlog of lawsuits brought under the state’s Child Victims Act (CVA), including possibly setting up dedicated courts or dockets...
Posted: Jun 20, 2024
A wildfire is raging through a large swath of western Sacramento Valley after igniting on Monday and spreading to 15,656 acres. Evacuations were ordered in rural areas around the Sites Fire in Colusa County, which is burning roughly 70 miles …
Posted: Jun 19, 2024
A pair of wildfires in New Mexico have spread to more than 20,000 acres, forcing thousands of people to evacuate and leaving one person dead. The South Fork and Salt fires have grown to more than 20,000 acres (16,335 for …
Posted: Jun 19, 2024
Tropical storm Alberto has caused flooding and more than three feet of storm surge in parts of coastal south Texas but is not expected to strengthen to hurricane force, meteorologists say. Alberto is the first named storm of the 2024 …
Posted: Jun 19, 2024
North Dakota Insurance Commissioner Jon Godfread has issued a cease-and-desist order against three companies for distributing deceptive materials to North Dakota consumers. The documents sent replicated an Internal Revenue Service (IRS) tax form requ...
Posted: Jun 19, 2024
Kim Ayers joined Risk Services – Leavitt Insurance Agencies, headquartered in Shreveport, Louisiana, as a commercial insurance agent. Ayers has worked in insurance for Leavitt Group since 2016, previously serving as a producer with Leavitt Recreation...
Posted: Jun 19, 2024
Michigan Attorney General Dana Nessel’s lawsuit seeking to shut down part of a petroleum pipeline that runs beneath the Straits of Mackinac belongs in state court, a federal appellate panel ruled Monday. The pipeline’s operator, Enbridge...
Posted: Jun 19, 2024
The U.S. Chemical Safety and Hazard Investigation Board (CSB) announced an update on its investigation into a July 2023 explosion at the Dow Louisiana Operations’ Glycol II plant in Plaquemine, Louisiana, that resulted in the release of over 31...
Posted: Jun 19, 2024
Zurich Insurance Company Ltd. has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance Co. Ltd. for US$670 million – marking the largest foreign investment in India’s general insurance market. “The transaction mark...
Posted: Jun 19, 2024
The U.S. Supreme Court sided with Starbucks in the coffee chain’s challenge to a judicial order to rehire seven Memphis employees fired as they sought to unionize in a ruling that could make it harder for courts to quickly halt …
Posted: Jun 19, 2024