Insurance Journal
One moment Toby Pearl was ensconced in his economy-class seat in row 43 aboard a flight from London to Singapore. The next all hell broke loose, with personal belongings, food and even people being hurled around the cabin, crashing into …
Posted: May 22, 2024
Passengers injured by severe turbulence on a Singapore Airlines flight on Tuesday are likely eligible for compensation, but the amount each receives could differ dramatically even for identical injuries due to an international treaty. One passenger d...
Posted: May 22, 2024
The heavy downpours seen in the UK and Ireland last fall and winter were about 20% worse because of climate change, a new scientific report found. The region saw as many as 14 severe storms between October and March, flooding …
Posted: May 22, 2024
Once perceived as intricate, time-consuming, and on occasion, frustrating, insurance claims processing has undergone a substantial transformation with the integration of new technological solutions. From artificial intelligence (AI) to big data and a...
Posted: May 22, 2024
Gallagher’s Cyber practice remains laser focused on emerging technology and the potential for increased risks as organizations begin to use them. Throughout 2024, we’re concentrated on evolving compliance requirements for the use of artif...
Posted: May 22, 2024
China’s Finance Ministry on Tuesday announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, as part of a food security drive to encourage planting of staple grains. The pol...
Posted: May 22, 2024
Rising sea levels could severely disrupt crude oil shipments and erode energy security in import-dependent countries like China, South Korea and Japan, with many of the world’s biggest terminals vulnerable to flooding, researchers said on Tuesd...
Posted: May 22, 2024
The US Commodity Futures Trading Commission expects to finalize its guidance for carbon credits within the next six months, as it pursues a broader crackdown of fraud and manipulation in the embattled market. CFTC Commissioner Christy Goldsmith Romer...
Posted: May 22, 2024
S&P Global Market Intelligence weighed in on the U.S. cyber insurance marketplace, reporting that premium dipped in 2023 to end several years of rapid growth. The overall 0.7% decline in cyber insurance direct written premiums was driven by a 3.2...
Posted: May 22, 2024
North Carolina regulators last month announced that the state is now the third-largest domicile for captive insurance companies with more than 311 captive firms in the state, thanks in part to favorable premium tax rates, fees and capital requirement...
Posted: May 22, 2024
The recovery from the deadly Baltimore bridge collapse reached a significant milestone Monday as tugboats escorted the ill-fated container ship Dali back to port, its damaged bow still covered with smashed shipping containers, fallen steel trusses an...
Posted: May 22, 2024
A Massachusetts teen who participated in a spicy tortilla chip challenge on social media died from eating a large quantity of chile pepper extract and also had a congenital heart defect, according to autopsy results obtained by The Associated Press....
Posted: May 22, 2024
U.S. auto safety investigators said on Monday they have launched an investigation into the April crash of a VinFast 0TL.F, VFS.O VF 8 electric vehicle in Pleasanton, California, in which a family of four died. The National Highway Traffic Safety R...
Posted: May 22, 2024
HARRIS COUNTY — After the floodwaters earlier this month just about swallowed two of the six homes that 60-year-old Tom Madigan owns on the San Jacinto River, he didn’t think twice about whether to fix them. He hired people to …
Posted: May 21, 2024
There is a moderate risk — the second highest — of severe thunderstorms across parts of Iowa, Illinois, Wisconsin and Missouri affecting more than 3.8 million people, the US Storm Prediction Center said. “All severe hazards will be possible inc...
Posted: May 21, 2024
Risk Strategies announced that it has acquired Silveus Insurance Group, Inc (Silveus). The Indiana-based broker dates back to 1940 and is the country’s largest independent specialty provider of crop insurance. Terms of the deal were not provide...
Posted: May 21, 2024
German chemical company BASF said on Tuesday it reached a $316.5 million settlement with some U.S. public water systems that claimed toxic “forever chemicals” in firefighting foam made by the company contaminated their water supplies. The...
Posted: May 21, 2024
Auto insurance websites and apps are doing a good job of delivering foundational functional capabilities, bringing in more customers than agents and call centers. But far fewer are providing the type of value-added services that set them apart. With...
Posted: May 21, 2024
A child was among the three victims killed when a passenger train hit a pickup truck, officials said. The northbound Amtrak train hit a Dodge truck Friday evening in North Tonawanda, New York, a small town along the Niagara River …
Posted: May 21, 2024
Canada’s government is banning key-programming machines and other equipment used to steal cars, while implementing harsher penalties to combat a rising number of auto thefts across the country. Minister of Justice Arif Virani unveiled a nationa...
Posted: May 21, 2024
California’s top state court on Tuesday will consider a labor union’s challenge to a ballot measure allowing app-based services such as Uber and Lyft to classify drivers in the state as independent contractors rather than as employees wit...
Posted: May 21, 2024
Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this summer. National Interstate Insurance Compa...
Posted: May 21, 2024
The Insurance Information Institute (Triple-I) and the National Insurance Crime Bureau (NICB) are marking May 20-24 as Contractor Fraud Awareness Week (CFAW) to highlight how homeowners can protect themselves from dishonest contractors. “For ma...
Posted: May 21, 2024
In a ruling against an upscale restaurant chain, a Massachusetts Appeals Court has affirmed a state high court 2022 ruling that the COVID-19 virus does not trigger business interruption insurance because it does not cause “direct physical loss...
Posted: May 21, 2024
The Liberty Co. insurance brokers, based in Gainesville, Florida, continues its expansion with the addition of Ayers Brackfield Insurance in Knoxville, Tennessee. ABI, in business since 1992, has operated in 18 states, offering personal and commercia...
Posted: May 21, 2024