Insurance Journal

Prudential Reports Unauthorized Access to Its Computer Systems

Prudential Financial has disclosed a hacker gained unauthorized access to its systems earlier this month. In a Feb. 13 filing with the U.S. Securities and Exchange Commission, Prudential said that on Feb 5 it detected a threat actor — believed &#8230...

Posted: Feb 14, 2024

Commercial Real Estate Trouble Evident in Fading Downtown Construction

When Rahm Emanuel ran Chicago and wanted to boast about the health of the city, the then-mayor pointed to the number of construction cranes across the skyline — 60 at the end of 2017. Almost five years after he left …

Posted: Feb 14, 2024

South Carolina House Endorses Paid Family Leave Insurance Bill

The South Carolina House of Representatives has approved a framework for paid family leave insurance in the state, sending House Bill 4832 to the Senate. By a vote of 110-0, the House last week passed the bill that would allow …

Posted: Feb 14, 2024

New York Attorney General Triples Size of Crypto Fraud Lawsuit to $3 Billion

New York Attorney General Letitia James on Friday expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the size of their alleged fraud scheme to more than $3 billion. James had in October sued DCG, its Gen...

Posted: Feb 14, 2024

SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years

SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January 2017. SAIF, Oregon’s...

Posted: Feb 14, 2024

California Lawmakers Call for Stricter Regulation of Autonomous Vehicles

California lawmakers and labor unions rallied to call for laws to not allow autonomous trucks without human drivers, amid rising safety concerns after accidents involving self-driving taxis from General Motors and Alphabet. A robotaxi from Alphabet&#...

Posted: Feb 14, 2024

This Call May Be Recorded: Four Best Practices for Insurance Call Center Compliance

This post is part of a series sponsored by AgentSync. Call centers don’t typically have the best reputation among customers in any industry. But, when executed well (or at least without long holds characterized by elevator music so loud it &#82...

Posted: Feb 14, 2024

AIG General Insurance Q4 Income Up 19% on Underwriting, Investments

American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior year. Adjusted pretax income (...

Posted: Feb 14, 2024

Viewpoint: The Cyber Risk Pendulum

Privacy risk is so 2014, right? Ten years ago, numerous retail and healthcare companies were hit with data breaches related to the exposure of credit card or healthcare data. Given many data breach claims, which included fines by state attorney &#823...

Posted: Feb 13, 2024

Nearly 75% of Employers Don’t Have AI Protocols for Internal Communications: Study

Despite organizations’ increased adoption of artificial intelligence (AI), 71% don’t provide internal guidance on when, where or how to use the technology, according to Gallagher’s 2023/24 State of the Sector report. Drawing on insi...

Posted: Feb 13, 2024

Woman Killed After She Opened Fire in Joel Osteen’s Megachurch

HOUSTON (AP) — A woman in a trenchcoat opened fire with a long gun Sunday inside celebrity pastor Joel Osteen’s megachurch in Texas, sending worshippers rushing to find safety while two off-duty officers confronted and killed the shooter. Two o...

Posted: Feb 13, 2024

People Moves: JM Wilson Makes New Hires and Promotions Nationwide

JM Wilson, headquartered in Portage, Michigan, made several new hires and promotions in offices across the country. Katie Priester Bird joined the company as a property and casualty underwriter. Bird previously held roles in credit card dispute resol...

Posted: Feb 13, 2024

Nevada Jury Awards $130M to 5 People With Liver Damage After Drinking Bottled Water

A Nevada jury awarded about $130 million in damages in a lawsuit filed by five people who suffered liver damage after drinking bottled water marketed by a Las Vegas-based company before the product was recalled from store shelves in 2021. …

Posted: Feb 13, 2024

NIP Group Launches AlarmPro™: A New Comprehensive Insurance Program for Security and Fire Alarm Serv...

WOODBRIDGE, N.J., February 13, 2024 – NIP Group, the leading specialty insurance provider with over 35 years of experience, announces the launch of its latest industry-specific insurance program, AlarmPro™. Designed to meet the specialized needs of r...

Posted: Feb 13, 2024

Ryze Claim Solutions to be Majority-Owned by Bain Capital

Ryze Claim Solutions, a full-service claims management business, announced it has entered a definitive agreement to be recapitalized by Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital. Following the transaction, Ryze wi...

Posted: Feb 13, 2024

Ryze Claim Solutions to Be Majority-Owned by Bain Capital

Ryze Claim Solutions, a full-service claims management business, announced it has entered a definitive agreement to be recapitalized by Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital. Following the transaction, Ryze wi...

Posted: Feb 13, 2024

Citing Immunity Law, Judge Tosses Body Parts Theft Claims Against Harvard

A Massachusetts Superior Court judge has dismissed negligence, infliction of emotional distress and other claims against Harvard and the operators of its medical school’s anatomical gift program by relatives of people whose donated bodies were...

Posted: Feb 13, 2024

Citing Immunity Law, Judge Tosses Claims Against Harvard in Body Parts Scheme

A Massachusetts Superior Court judge has dismissed negligence, infliction of emotional distress and other claims against Harvard and the operators of its medical school’s anatomical gift program by relatives of people whose donated bodies were...

Posted: Feb 13, 2024

Texas Nursing Care Facility Settles Sex Discrimination Lawsuit for $50K

Paramount Healthcare Consultants, LLC, which operates nursing care facilities across Texas and Louisiana, will pay $50,000 to settle a sex discrimination and retaliation lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the fe...

Posted: Feb 13, 2024

Ohio City Settles with Former Officer and Truck Driver Involved in K-9 Attack

COLUMBUS, Ohio (AP) — A central Ohio city agreed this week to a settlement with a former K-9 officer and a truck driver involved in an attack last year, video of which garnered national attention and raised questions about the …

Posted: Feb 13, 2024

Furman University, Family Mourning After Collapse, Death of Football Player

GREENVILLE, S.C. (AP) — Furman University defensive tackle Bryce Stanfield died Friday, two days after collapsing during a workout at the school’s football stadium. Furman President Elizabeth Davis said in a letter to the university community t...

Posted: Feb 13, 2024

EU Lawmakers Ratify Provisional Deal on Artificial Intelligence Rules

Two key groups of lawmakers at the European Parliament on Tuesday ratified a provisional agreement on landmark artificial intelligence rules ahead of a vote by the legislative assembly in April that will pave the way for the world’s first legis...

Posted: Feb 13, 2024

Robot Invasion Hit a Bump in 2023 as North American Economy Cooled

North American companies ordered about a third fewer robots last year as worries about a slowing economy and higher interest rates made it harder to justify buying the advanced machines, the first hiccup in five years in what has been …

Posted: Feb 13, 2024

Georgia Moves Toward Permit for Mineral Mine Near Okefenokee Swamp

SAVANNAH, Ga. (AP) — A company’s plan to mine minerals near the edge of the Okefenokee Swamp and its federally protected wildlife refuge neared final approval Friday as Georgia regulators released draft permits for the project, which opponents...

Posted: Feb 13, 2024

Markets/Coverages: Loadsure Launches Motor Truck Cargo Insurance

Loadsure, the London-based insurtech MGA, announced the launch of motor truck cargo insurance, a data-powered insurance product, purpose-built for the logistics community. Called “Columbia™ – Motor Truck Cargo and Logistics Services Insur...

Posted: Feb 13, 2024