Insurance Journal
The Missouri Department of Commerce and Insurance said that employers should see a reduction in workers’ compensation rates in 2024, the third straight year of declining rates. The NCCI recently proposed an overall decrease of 7.5 percent for 2...
Posted: Nov 30, 2023
DETROIT (AP) – The former owner of a Michigan dam is on the hook for roughly $120 million sought by the state for environmental damage when the structure failed after days of rain in 2020, a judge said. But it`s …
Posted: Nov 30, 2023
FORT WORTH, Texas (AP) – A Texas city on Tuesday approved a $3.5 million settlement for a child who witnessed his aunt being fatally shot through a window of her home by a police officer four years ago. The Fort …
Posted: Nov 30, 2023
FORT WORTH, Texas (AP) – A Texas city on Tuesday approved a $3.5 million settlement for a child who witnessed his aunt being fatally shot through a window of her home by a police officer four years ago. The Fort …
Posted: Nov 30, 2023
Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to the latest survey by Consumer Reports, which found that EVs from the 2021 through 2023 model years encountered nearly 80% more prob...
Posted: Nov 30, 2023
Meta Platforms, which owns WhatsApp, Instagram and Facebook, filed a lawsuit asking an appeals court to stop the U.S. Federal Trade Commission from unilaterally re-opening a consent agreement and ordering the social media giant to stop collecting rev...
Posted: Nov 30, 2023
SALEM, S.C. (AP) — An 83-year-old woman who died when she fell through rotting floorboards in a century-old South Carolina house fell down a well shaft the owner didn`t know was there, authorities said. It took rescuers nearly four hours …...
Posted: Nov 30, 2023
When Deutsche Bank loaned Donald Trump`s company hundreds of millions lawyers of dollars, the bank always followed its own guidelines that include checking out information that would-be borrowers provide, an executive testified Tuesday at the former...
Posted: Nov 30, 2023
FORT LAUDERDALE, Fla. (AP) — Bruce Springsteen`s drummer, Max Weinberg, is suing the owners of a Florida car restoration company, saying they stole $125,000 by falsely promising him a like-new 1957 Mercedes-Benz and then using his money for per...
Posted: Nov 30, 2023
The Hartford said it will head into 2024 with new heads of commercial and personal lines and announced additional leadership changes. A. Morris “Mo” Tooker, who joined The Hartford in 2015 as chief underwriting officer and later became he...
Posted: Nov 30, 2023
With a month to run, 2023 will reach global warming of about 1.4 degrees Celsius (2.5 Fahrenheit) above preindustrial levels, adding to “a deafening cacophony” of broken climate records, the World Meteorological Organization (WMO) said on...
Posted: Nov 30, 2023
Rokstone, the international speciality re/insurance MGA that is part of the Aventum Group, announced the launch of a new contingency portfolio with backing from “A”-rated carriers. Rokstone is launching the contingency account initially i...
Posted: Nov 30, 2023
The European Central Bank may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, the outgoing head of the ECB’s supervision arm told …
Posted: Nov 30, 2023
The London Metal Exchange (LME) won a legal battle with U.S. financial firms on Wednesday which brought a case demanding $472 million in compensation after the exchange canceled billions of dollars in nickel trades last year following a surge in R...
Posted: Nov 30, 2023
Massachusetts Governor Maura Healey has announced a plan to assist the state’s 78 coastal communities from Cape Cod to the North Shore where 2.5 million live with their development of long-term regulatory, policy, and funding solutions to the e...
Posted: Nov 30, 2023
Benjamin Franklin was a big fan of insurance, but he might have been a bit nonplussed if someone had given him a preview of the industry in 2023. Risks have changed, and one of the big ones businesses face in …
Posted: Nov 30, 2023
Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM Best. Of course, headwinds st...
Posted: Nov 30, 2023
Commercial ships face increasing dangers at sea after armed groups have attacked and seized vessels in waters around the Red Sea and off the coast of Yemen, adding to perils for seafarers, shipping officials said on Wednesday. An attempted hijacking...
Posted: Nov 30, 2023
Gujarat International Finance Tec-City, India’s newest financial hub and a flagship project of Prime Minister Narendra Modi, is preparing for its next phase of growth. The first phase followed the creation in 2020 of a new regulator, the Intern...
Posted: Nov 30, 2023
AM Best reported a net underwriting loss of $333 million for the U.S. nonstandard auto insurance segment during the first half of 2023 — a year-over-year improvement from the $773 million loss seen in the first six months of 2022. …
Posted: Nov 30, 2023
Overall commercial property/casualty premiums increased slightly more than 8% on average in the third quarter, marking six full years of steady increases. According to The Council of Insurance Agents and Brokers’ Q3 Market Survey, the 8.1% aver...
Posted: Nov 30, 2023
Members from several insurtechs, including Boost, Branch, Clearcover, Lemonade and Root Insurance, published an open letter to the insurance industry announcing the launch of the InsurTech Coalition, a trade organization working to shape the future o...
Posted: Nov 30, 2023
A ransomware attack has prompted a healthcare chain that operates 30 hospitals in six states to divert patients from at least some of its emergency rooms to other hospitals, while putting certain elective procedures on pause, the company announced. I...
Posted: Nov 30, 2023
In what could be seen as a rare win for the claimants’ bar in Tennessee, the state Supreme Court upheld a $50,500 award of attorney fees, an amount that is almost double the workers’ compensation benefits paid to the injured …
Posted: Nov 30, 2023
New York drivers who renewed their licenses during part of the coronavirus pandemic face license suspensions on starting Friday, December 1, if they don’t submit vision tests, the state Department of Motor Vehicles warned. Nearly 51,000 drivers...
Posted: Nov 30, 2023