Insurance Journal
Colorado Springs leaders agreed Tuesday to pay $2.1 million to settle a federal lawsuit brought by a Black man who was punched and kicked by police during a traffic stop in 2022. City councilors voted to back the agreement to …
Posted: May 16, 2024
Swiss Re announced that Ivan Gonzalez, CEO Reinsurance China, has been appointed CEO of Corporate Solutions, succeeding Andreas Berger, who is moving into the role of group CEO, effective July 1, 2024. Gonzalez will join the Group Executive Committee...
Posted: May 16, 2024
A 64% jump in ransomware claims in 2023 is driven by an explosion in “indirect” ransomware incidents, up over 415% in 2023, with remote access tools accounting for 58% of attacks. The year-over-year increases were seen among mid-market an...
Posted: May 16, 2024
OCALA, Fla. (AP) — The Florida Highway Patrol has arrested the driver of a pickup truck that crashed into a farmworker bus early Tuesday, killing eight, on charges of driving under the influence-manslaughter. Bryan Maclean Howard, 41, faces eight cou...
Posted: May 16, 2024
Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024. Nevertheless, Swiss Re decided its ̷...
Posted: May 16, 2024
ATLANTA (AP) — A federal appeals court has upheld a lower court’s ruling that a Georgia county illegally discriminated against a sheriff’s deputy by failing to pay for her gender-affirming surgery. In its ruling Monday, the 11th U.S. Circ...
Posted: May 16, 2024
Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Yet …
Posted: May 16, 2024
A popular country music venue in Greenville, South Carolina, has closed its doors after almost 30 years, citing the cost of liquor liability insurance in the state. The Post and Courier newspaper and other news outlets reported Wednesday that the ...
Posted: May 16, 2024
A federal jury on Wednesday convicted Greg Lindberg, who once controlled two life insurance companies, a reinsurance company and multiple other businesses, and his co-defendant John Gray, of attempting to bribe the North Carolina insurance commission...
Posted: May 16, 2024
State Farm announced that it has launched a new website to showcase some of its patented technology, and making it available for licensing, purchase or collaboration opportunities. “State Farm is more than just an insurance company. With a focu...
Posted: May 16, 2024
The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal business lines came in at 106.7%...
Posted: May 16, 2024
Britain’s food watchdog has applied extra control measures on all spice imports from India, it said on Wednesday, becoming the first to ramp up scrutiny of all Indian spices after contamination allegations against two brands sparked concerns am...
Posted: May 16, 2024
Geopolitical tensions and a raft of elections around the world are heightening the risk that investors will be jolted by negative surprises and endanger financial stability, the European Central Bank warned. Markets have so far taken a relaxed view o...
Posted: May 16, 2024
Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year earlier, as Asia and …
Posted: May 16, 2024
The unofficial capital of Canada’s oil-sands industry is now facing a second wildfire that’s north of the city and closer to major energy operations. The new blaze near Fort McMurray, Alberta, is about 3 hectares (7 acres) in size, and &#...
Posted: May 16, 2024
The U.S. government has a specialized plane loaded with advanced sensors that officials brag is always ready to deploy within an hour of any kind of chemical disaster. But the plane didn’t fly over eastern Ohio until four days after …
Posted: May 16, 2024
HOUSTON (AP) — The one remaining wrongful death lawsuit filed after 10 people were killed during a deadly crowd crush at the 2021 Astroworld music festival has been set for trial in civil court in September, a judge said Tuesday. …
Posted: May 16, 2024
The risk of power failures this summer remains elevated for many parts of North America amid soaring demand and generator shutdowns. The main Texas grid is especially vulnerable at sunset when solar generation plunges and demand remains high, with th...
Posted: May 16, 2024
Front Street Re, an operating subsidiary of Lexasure Financial Group Limited headquartered in Georgetown, Cayman Islands, appointed Edison Fong as CEO. Before joining Front Street Re, Fong was a director at Converge Re and an actuary at Manulife Fina...
Posted: May 16, 2024
Front Street Re, an operating subsidiary of Lexasure Financial Group Limited headquartered in Georgetown, Cayman Islands, appointed Edison Fong as CEO. Before joining Front Street Re, Fong was a director at Converge Re and an actuary at Manulife Fina...
Posted: May 16, 2024
New York’s St. John’s University announced the appointment of Henry “Hank” Watkins Jr., regional director and president of the Americas at Lloyd’s, as executive director and associate dean of the Maurice R. Greenberg Sch...
Posted: May 16, 2024
A bipartisan group of U.S. senators, including Majority Leader Chuck Schumer, called on Wednesday for a big jump in government research funding of artificial intelligence as they debate new legal safeguards. Generative AI—which can create text, photo...
Posted: May 16, 2024
XPT Specialty, headquartered in Barre, Vermont, appointed Suzette Torres as vice president of personal lines. She will help expand the company’s offerings for retail agencies selling specialty products like personal lines property, umbrellas, a...
Posted: May 16, 2024
A trial is underway in Virginia that will determine whether state law allows frozen embryos to be considered property that can be divided up and assigned a monetary value. Fairfax County Circuit Court Judge Dontae Bugg heard arguments last Thursday &...
Posted: May 16, 2024
The Maine Bureau of Insurance has approved a 15.7% average rate reduction in workers’ compensation insurance premiums for Maine Employers’ Mutual Insurance Co. (MEMIC), the largest workers’ compensation carrier in the state. The bur...
Posted: May 16, 2024