Insurance Journal
HOUSTON — Federal authorities on Wednesday sued Houston-area developer Colony Ridge, accusing it of luring Latino home buyers into seller-financed mortgages and setting them up to default and face foreclosure. “Colony Ridge set out to exploit s...
Posted: Dec 22, 2023
Air Lease said on Friday it had received about $64.9 million in cash as part of an insurance claim settlement for four Airbus jets it had leased to a Russian carrier, which were blocked from leaving the country after Moscow’s …
Posted: Dec 22, 2023
Everest Group Ltd., the Bermuda-based property, casualty, and specialty re/insurer, announced that Glen Browne has been appointed to global head of Accident & Health (A&H), effective immediately. Browne will continue to report to Adam Cliffor...
Posted: Dec 22, 2023
EAST LANSING, Mich. (AP) – Michigan State University trustees have approved settlements with the families of three students slain during a mass shooting earlier this year on the school`s campus. Trustees voted unanimously last Friday to approve separ...
Posted: Dec 22, 2023
MADISON, Wis. (AP) – Excessive compliance costs have forced Wisconsin regulators to stop developing standards limiting so-called forever chemicals in groundwater, Gov. Tony Evers said Tuesday. The Department of Natural Resources has been working on g...
Posted: Dec 22, 2023
BATON ROUGE, La. (AP) – A jury on Wednesday dismissed a lawsuit accusing top Louisiana State University officials of retaliating against an athletics administrator for reporting alleged inappropriate sexual behavior by a head football coach. After si...
Posted: Dec 22, 2023
A merger between Aon and NFP will be a win-win for both brokers, creating a company that will be greater than the sum of its parts. While those weren’t the exact words used by Aon’s CEO Greg Case, they were …
Posted: Dec 22, 2023
Risk Strategies, a specialty insurance brokerage, has acquired Setnor, Byer, Boganoff Inc., which does business as Setnor Byer Insurance & Risk, a Fort Lauderdale-area brokerage and risk management firm. Terms of the deal were not disclosed. Foun...
Posted: Dec 22, 2023
A state appeals court in Oregon decided the rules for a program designed to limit and drastically reduce greenhouse gas emissions from fossil fuel companies are invalid. The program, started in 2022, is one of the strongest climate programs in …...
Posted: Dec 22, 2023
NASHVILLE, Tenn. (AP) — A seventh person in Tennessee has died from injuries she suffered during a string of powerful storms earlier this month that whipped up destructive tornadoes, according to police. Penny Scroggins, a 78-year-old from Clar...
Posted: Dec 22, 2023
U.S. airlines say they are prepared for busier end of year holiday travel compared with the same peak period a year earlier, when storms led to thousands of canceled flights and congestion. The U.S. Federal Aviation Administration expects Thursday to...
Posted: Dec 22, 2023
The Insurance Information Institute (Triple-I) announced the appointment of four new Non-Resident Scholars (NRS). Teresa Chan, Director – Insurance Management Program School of Professional Studies, Columbia University Seth Rachlin, Assistant T...
Posted: Dec 22, 2023
Signers National, a specialty insurance agency group focused on commercial real estate, nonprofits and human service organizations, headquartered in New York, N.Y., hired Chris Parkinson as chief information officer (CIO). Parkinson most recently ser...
Posted: Dec 22, 2023
Tackling hidden leverage across the multi-trillion dollar “shadow banking” sector is next year’s priority, global financial regulators said on Wednesday, but the challenge of accessing data could hamper the process. The G20’s...
Posted: Dec 22, 2023
Ryan Specialty, the Chicago-based specialty insurance firm, announced it has signed a definitive agreement to acquire Castel Underwriting Agencies Ltd. from Arch Financial Holdings (UK) Ltd. and minority shareholders. Terms of the transaction were no...
Posted: Dec 22, 2023
The UK and Switzerland signed an agreement to recognize each other’s laws and regulations in financial services, easing post-Brexit market access for firms including banks, insurers and asset managers. Chancellor of the Exchequer Jeremy Hunt an...
Posted: Dec 22, 2023
In an era of heightened climate risks and evolving insurance dynamics, the traditional insurance model faces a conundrum. Insurers find themselves grappling with the aftermath of more frequent and severe storms, and struggling to collect adequate pre...
Posted: Dec 22, 2023
Investigations of cases where artificial intelligence (AI) is used to break the law will be streamlined under a new process approved by the U.S. Federal Trade Commission, the agency said on Tuesday. The move, along with other actions, highlights the...
Posted: Dec 22, 2023
The U.S. Food and Drug Administration (FDA) on Wednesday classified the recall of Philips’ medical imaging devices as most serious as their use could cause serious injuries or death. The Dutch medical devices maker started the process on Nov. 3...
Posted: Dec 22, 2023
Property insurance contracts often contain provisions requiring insureds to “incur” costs before insurance companies issue payments. For example, “ordinance or law” provisions provide “you may use up to 25% of the limit...
Posted: Dec 22, 2023
California Insurance Commissioner Ricardo Lara issued an official notice to insurers regarding consumers who have been reporting issues obtaining auto insurance coverage. The California Department of Insurance continues to receive numerous complaints...
Posted: Dec 22, 2023
California Insurance Commissioner Ricardo Lara issued an official notice to insurers regarding consumers who have been reporting issues obtaining auto insurance coverage. The California Department of Insurance continues to receive numerous complaints...
Posted: Dec 22, 2023
A new analysis of court cases in California over a year showed civil rights cases and personal injury cases were the most common civil cases in the state. Of the 25,636 civil cases in California for the 12-month period ending …
Posted: Dec 22, 2023
A year after pleading no contest to criminal charges, one of Pennsylvania’s leading natural gas companies is poised to drill and frack in the rural community where it was banned for a dozen years for polluting the water supply. Coterra …
Posted: Dec 22, 2023
Do “surface waters” covered by property flood insurance include rainwater that accumulated on an enclosed roof one or more stories above the ground? The landlord and operator of a suburban Massachusetts hospital disagree with their insure...
Posted: Dec 22, 2023