Insurance Journal
New York’s highest court has put contractors and property owners on notice that they are responsible for slippery surfaces caused by substances that might be very different than the substances they typically worry about as creating a slip and f...
Posted: Mar 01, 2024
Marsh McLennan, headquartered in New York, appointed David Liston as U.S. and Canada chief commercial officer (CCO) effective immediately. Liston previously served as Marsh U.S. and Canada corporate segment leader, and recently had an expanded role a...
Posted: Mar 01, 2024
Last year was the safest ever for commercial flying by a number of measures, the airline industry’s global lobby said, with no fatal accidents involving passenger jets in 37.7 million flights. No hull losses to passenger jets were recorded eith...
Posted: Mar 01, 2024
Insurance broker Marsh McLennan, the Ukrainian government and Lloyd’s have announced a major expansion of the Unity insurance facility – a public-private partnership originally launched in November 2023 to provide war risk insurance for grain s...
Posted: Mar 01, 2024
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant’s history. A year later, and another record. The underwriting loss figure climbed to $14 billion for 2023, with a nearly …
Posted: Mar 01, 2024
A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023. The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion underwriting loss for property lines...
Posted: Mar 01, 2024
The UK has become a hotbed for mergers and acquisitions this year as dealmakers hunt for bargains in the country’s underperforming stock market. Direct Line Insurance Group Plc and electronics retailer Currys Plc both rejected bids from oversea...
Posted: Mar 01, 2024
Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallh...
Posted: Mar 01, 2024
Taiwan’s military said hackers sold data stolen from the island’s biggest telecom company on the internet, the latest challenge to the democratically run island’s cybersecurity. The leaked documents that related to the military didn...
Posted: Mar 01, 2024
Elizabeth Gore is fighting for survival. Just six months ago, the founder of financial technology startup Hello Alice was getting ready to close an investment round to grow its business offering grants and networking opportunities to entrepreneurs fr...
Posted: Mar 01, 2024
Bankrupt drugmaker Endo International will pay up to $465 million to settle the federal government’s law enforcement, tax, and healthcare cost claims, the U.S. Department of Justice said on Thursday. The settlement removes Endo’s largest...
Posted: Mar 01, 2024
UnitedHealth Group said on Thursday the recent cyberattack at its tech unit, Change Healthcare, was perpetrated by hackers who identified themselves as the “Blackcat” ransomware group. The statement confirms a Reuters report on Monday. Un...
Posted: Mar 01, 2024
High levels of “forever chemicals,” including poly-fluoroalkyl, or PFAS compounds, have been found in northeastern Tennessee rivers and drinking water supplies, likely from wastewater sludge that is spread on farms as fertilizer, the Sier...
Posted: Mar 01, 2024
Maryland Attorney General Anthony G. Brown reported that his Opioids Enforcement Unit has finalized settlements with Teva, Allergan, Walmart, and Walgreens, after multi-year investigations of these opioids-makers’ or chain pharmacies’ inv...
Posted: Mar 01, 2024
A Delaware woman will serve 5 to 10 years in state prison for a workers’ compensation scam that spanned 2½ years, two states, and cost a Pennsylvania employer more than $170,000, according to Pennsylvania Attorney General Michelle Henry. Victor...
Posted: Mar 01, 2024
A Delaware woman will serve 5 to 10 years in state prison for a workers’ compensation scam that spanned 2.5 years, two states, and cost a Pennsylvania employer more than $170,000, according to Pennsylvania Attorney General Michelle Henry. Victo...
Posted: Mar 01, 2024
Alliant Insurance Services hired Frank Ross as vice president within its Alliant Americas division. Ross joins Alliant with a property/casualty insurance background encompassing risk management, cyber liability, and executive liability. Before joinin...
Posted: Mar 01, 2024
Sixteen railroad freight cars carrying corn derailed early Wednesday under a key railroad overpass in the northeast Nevada city of Elko, but no injuries were reported and no hazardous materials were involved, authorities said. The Union Pacific train...
Posted: Mar 01, 2024
Lockton, headquartered in the Kansas City metropolitan area, named Eric Braverman and Eric Bill to its lawyers professional liability practice. Both are based in Chicago. Braverman joins as senior vice president, professional services practice leader...
Posted: Feb 29, 2024
The Smokehouse Creek Fire has grown to more than 1 million acres in the Texas Panhandle, making it the second-largest wildfire in state history. The fire is 3% contained as of Thursday morning according to officials with the Texas A&M …
Posted: Feb 29, 2024
RT Specialty, the wholesale distribution division of Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, announced addition of Cyber Liability to its proprietary digital platform, RT Connector. RT Connector allows retail in...
Posted: Feb 29, 2024
This edition of International People Moves details appointments at the managing general agents Fusion Specialty and Nirvana. A summary of these new hires follows here. Fusion Specialty Appoints Harwood for M&A in Asia Pacific Fusion Specialty, a...
Posted: Feb 29, 2024
Insurtech Lemonade reported a fourth quarter 2023 net loss of $42.4 million and a net loss of about $237 million for the full year but its chief executive said the company has seen “dramatic progress.” Results were in comparison to …...
Posted: Feb 29, 2024
A Pennsylvania insurance agency is denying allegations by owners of a Pittsburgh apartment building that it is liable for the denial of a 2023 fire insurance claim and cancellation of the property’s policy because of misrepresentations related...
Posted: Feb 29, 2024
Florida authorities charged a Miami contractor with vastly underreporting his payroll and skipping out on $253,000 in workers’ compensation insurance premiums to Travelers Property and Casualty Co. Gustavo Antonio Munguia, 48, owner of American...
Posted: Feb 29, 2024