Insurance Journal
American International Group Inc. (AIG) reported profit above analysts’ estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted earnings for the quarter were $1.2 billion, or...
Posted: May 02, 2024
From the Rio Grande to the Outer Banks, sea levels are rising faster than most other parts of the world, blocking the outflow of rivers and streams and causing inland flooding that would not have been seen just a few …
Posted: May 02, 2024
The Pennsylvania Supreme Court has ruled that Nationwide Property and Casualty is not obligated to defend its homeowner insureds against a wrongful death claim for emotional and mental distress brought by a mother whose son died from a drug overdose...
Posted: May 02, 2024
The Pennsylvania Supreme Court has ruled that Nationwide Property and Casualty is not obligated to defend its homeowner insureds against a wrongful death claim for emotional and mental distress brought by a mother whose son died from a drug overdose...
Posted: May 02, 2024
A high school athletic director in Maryland has been accused of using artificial intelligence to impersonate a principal on an audio recording that included racist and antisemitic comments, authorities said. Authorities said the case appears to be am...
Posted: May 02, 2024
Kent Bo Fridolfsson, 67, of Benicia, California, pleaded guilty to six charges of insurance fraud and grand theft after a joint investigation with the California Department of Insurance, Solano County District Attorney’s Office and the Employme...
Posted: May 02, 2024
New Mexico labor announced a legal settlement that resolves longstanding accusations of unpaid wages against a restaurant business in northwestern New Mexico. The Workforce Solutions Department said in a news release that 505 Burgers Farmington LLC h...
Posted: May 02, 2024
New Mexico has reached a record settlement with a company over air pollution violations at natural gas gathering sites in the Permian Basin. The $24.5 million agreement with Ameredev announced this week is the largest settlement the state Environment...
Posted: May 02, 2024
Just as companies worldwide struggle with the office-versus-remote work question, Travelers has decided to open a 2,800-square-foot office site in Atlanta to house its artificial intelligence, data science and other technology operations. Travelers,...
Posted: May 01, 2024
Less than five years after acquiring online insurance startup Assurance IQ for $2.35 billion, Prudential is shutting it down. “Prudential Financial routinely evaluates strategic opportunities for its businesses that are aligned with its long-te...
Posted: May 01, 2024
Insurtech Root Inc. posted a net loss for the first quarter 2024 of $6.2 million but said it recorded operating income for the first time in the company’s history. The net income loss for the first three months of the …
Posted: May 01, 2024
TOPEKA, Kan. (AP) — Kansas will remain among the handful of states that haven’t legalized the medical use of marijuana or expanded their Medicaid programs for at least another year. Republican state senators on Friday blocked efforts to force d...
Posted: May 01, 2024
Yemen’s Houthis said on Tuesday they targeted the MSC Orion container ship in a drone attack in the Indian Ocean as part of their ongoing campaign against international shipping in solidarity with Palestinians against Israel’s military ac...
Posted: May 01, 2024
Yemen’s Houthis said on Tuesday they targeted the MSC Orion container ship in a drone attack in the Indian Ocean as part of their ongoing campaign against international shipping in solidarity with Palestinians against Israel’s military ac...
Posted: May 01, 2024
A sting operation in Manatee County, Florida, has led to the arrest of 16 men who were working without a contractor’s license and without securing workers’ compensation insurance on their employees. The sting was led by the Manatee Sherif...
Posted: May 01, 2024
Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk too high. It’s a problem...
Posted: May 01, 2024
Johnson & Johnson said Wednesday it is moving forward with a $6.48 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer. The deal would allow...
Posted: May 01, 2024
OMAHA, Neb. (AP) — BNSF will become the second major freight railroad to allow some of its employees to report safety concerns anonymously through a federal system without fear of discipline. The Federal Railroad Administration announced Thursday tha...
Posted: May 01, 2024
Atlantic City’s main casino workers union and the New Jersey attorney general this week asked a judge to dismiss a lawsuit brought by a different union that seeks to ban smoking at the city’s nine casinos. Local 54 of the …
Posted: May 01, 2024
Property insurers in storm-swept Louisiana could soon gain much more flexibility over policy cancellations if the governor signs House Bill 611 into law, as expected. The state House of Representatives this week approved the bill by a vote of 82 R...
Posted: May 01, 2024
Ryan Specialty, the Chicago-based international specialty insurance firm, announce it has completed the acquisition of Castel Underwriting Agencies from Arch Financial Holdings (UK) Ltd. and minority shareholders. Headquartered in London, Castel is a...
Posted: May 01, 2024
The tornadoes that ripped through parts of Nebraska, Iowa and Oklahoma late last week damaged some 7,200 homes, leaving a reconstruction tab of $2.1 billion, according to CoreLogic, the data analytics firm. Some 127 tornadoes spun out of a severe ...
Posted: May 01, 2024
Relm Insurance, a Bermuda-based specialty insurance carrier, unveiled its Comprehensive Employment Practices offering, responding to industry demand to address capacity scarcity. The enhancements of the new policy, payable in fiat or cryptocurrency,...
Posted: May 01, 2024
Relm Insurance, a Bermuda-based specialty insurance carrier, unveiled its Comprehensive Employment Practices offering, responding to industry demand to address capacity scarcity. The enhancements of the new policy, payable in fiat or cryptocurrency,...
Posted: May 01, 2024
This edition of International People Moves details appointments at re/insurance brokers BMS and Gallagher. A summary of these new hires follows here. BMS Launches Global Healthcare Liability Unit, Led by Wendin From Carpenter BMS, the London-based in...
Posted: May 01, 2024