Insurance Journal
Tim Temple was sworn in as Louisiana Insurance Commissioner at noon Monday. Temple won election for the state’s top insurance official in October after his opponent dropped out of the primary. Temple replaces Jim Donelon, who had served as comm...
Posted: Jan 08, 2024
More than six years after Hurricane Harvey flooded thousands of homes and killed more than 80 people on the Texas Coast, the city of Houston has yet to allocate $200 million in federal relief funds to victims, according to the …
Posted: Jan 08, 2024
The Iowa Supreme Court on Friday reinstated a deputy workers’ compensation commissioner’s decision to bar reports that were submitted too late by experts who weren’t certified, reversing decisions by the district court and Court of...
Posted: Jan 08, 2024
Michigan reported the largest decrease in uninsured motorists of any state between 2020 and 2022, according to a recent study by the Insurance Research Council. Michigan’s uninsured motorist rate dropped by more than 6% between 2020 and 2022. T...
Posted: Jan 08, 2024
A delay in the inspection of grounded Boeing jets ended on Monday after U.S. officials retrieved a panel that blew off an Alaska Airlines 737 MAX 9 airliner and shares in the planemaker sagged on concerns over the troubled jet …
Posted: Jan 08, 2024
A new lawsuit has been filed against the Federal Emergency Management Agency, alleging compensation has been delayed for victims of the largest wildfire in New Mexico’s recorded history. FEMA is responsible for doling out funds to people who su...
Posted: Jan 08, 2024
This edition of International People Moves details appointments at Everest Reinsurance and Swiss Re Corporate Solutions A summary of these new hires follows here. Everest Re Promotes Wallace to Head of UK Branch and CUO Everest Reinsurance, the reins...
Posted: Jan 08, 2024
Johnson & Johnson has tentatively agreed to pay about $700 million to resolve an investigation by more than 40 US states of claims that it wrongfully marketed its talc-based baby powder by not warning about possible health risks, according to ...
Posted: Jan 08, 2024
Specialty MGA Rokstone of the Aventum Group announced a significant enhancement to its North American marine operations. Allianz Commercial has committed a $25 million facility to Rokstone. This latest deal will provide Rokstone’s North America...
Posted: Jan 08, 2024
TIAN RUIXIANG Holdings Ltd., the Beijing, China-based insurance broker, announced its subsidiary TRX HongKong Investment Ltd., has entered into a memorandum of understanding (MoU) to acquire Hong Kong insurance broker Peak Consulting Services Ltd. Fi...
Posted: Jan 08, 2024
ORLANDO, Fla. (AP) — A customer has filed a negligence lawsuit against Dunkin`, claiming he was injured by an exploding toilet at one of the coffee chain`s locations in central Florida. Paul Kerouac is seeking more than $100,000 in a …
Posted: Jan 08, 2024
Majesco, a cloud insurance software provider for the insurance business, announced it has acquired the Decision Research Corporation (DRC) business. DRC, based in Philadelphia-based, is an SaaS-based insurance software company. It offers enterprise r...
Posted: Jan 08, 2024
Michael Cohen can’t hold his former boss, ex-president Donald Trump, liable because he was jailed for what he claimed was retaliation for writing a tell-all memoir, an appeals court said Tuesday. The 2nd U.S. Circuit Court of Appeals in Manhatt...
Posted: Jan 08, 2024
Lloyd’s, the re/insurance marketplace, announced that the first 144A catastrophe bond has been issued on its risk transformation platform London Bridge 2 PCC Ltd. Beazley is the sponsor of the US$100 million transaction, on behalf of its Lloyd&...
Posted: Jan 08, 2024
There are growing signs that Russia’s oil flows might be facing disruption in the aftermath of a ramp up in US sanctions targeting traders and shipping companies moving the nation’s petroleum. Over the past month or so, a total of …
Posted: Jan 08, 2024
Gallagher announced it has acquired Köberich Financial Lines. Terms of the transaction were not disclosed. Köberich specializes in D&O insurance, plus other financial lines products including cyber, warranties & indemnities, professional inde...
Posted: Jan 08, 2024
Hong Kong workers say they would need a 6% raise to give up hybrid work arrangements, a dilemma that’s expected to prompt more companies to reduce space and dampen office rents, according to a survey. More than half of respondents …
Posted: Jan 08, 2024
FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the private reinsurance market as part of its 2024 reinsurance placement. The 2024 reinsurance placement covers porti...
Posted: Jan 08, 2024
OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors who say the companies misused their work to train the artificial-intelligence models behind the popular chatbot ChatGPT and other...
Posted: Jan 08, 2024
Affinity Advisors, providers of a digital platform for securing specialty insurance, has named a former Aon and Marsh McLennan executive to be chief revenue officer. Andrew Suesserman, who spent 12 years with Marsh and Aon, will move into his new ...
Posted: Jan 08, 2024
The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42% average increase in homeowners insurance rates, to take effect Aug. 1. The rate bureau’s double-digit requests in recent...
Posted: Jan 08, 2024
Florida’s wind-mitigation grant program for homeowners has proven to be so popular that the governor has proposed another $107 million for it this year, and some experts have called home fortification the only way to significantly reduce insura...
Posted: Jan 08, 2024
A New York-based apparel company is entitled to its claim for the full $600,000 limit on its marine cargo insurance policy because the policy was ambiguous as to whether a warehouse fire that destroyed its goods was at an approved …
Posted: Jan 08, 2024
A New York City subway train derailed last Thursday after colliding with another train at low speed, leaving more than 20 people with minor injuries and causing major service disruptions across Manhattan during the afternoon rush hour, authorities sa...
Posted: Jan 08, 2024
The board of Mutual Insurance Company of Arizona declared a dividend for its policyholders totaling $15 million. The funds are to be allocated among current members, with plans for it tol be distributed in February 2024. The dividend represents rough...
Posted: Jan 08, 2024