Insurance Journal
A wildfire fueled by Santa Ana winds that in southeast of Los Angeles, forcing about 4,000 people from their homes, has grown to 2,4897 acres and is now 20% contained. The Highland Fire started Monday afternoon in unincorporated Riverside County. ...
Posted: Nov 02, 2023
Worden Joins Leif Assurance Leif Assurance, headquartered in St. Louis, Missouri, hired Robert Worden as a construction insurance specialist. Worden has nearly 15 years of insurance industry experience. Before joining Leif Assurance, he most recently...
Posted: Nov 02, 2023
For more than a year, the Environmental Protection Agency investigated whether Louisiana officials discriminated against Black residents by putting them at increased cancer risk. Federal officials said they had found evidence of discrimination and we...
Posted: Nov 02, 2023
Ships sailing for Israel face a 10-fold jump in war risk premiums as the conflict in Gaza intensifies, prompting industry calls for the government to help ensure vital imports keep coming. Israel has vowed to annihilate Islamist group Hamas after ...
Posted: Nov 02, 2023
Political subdivisions in Texas can’t use governmental immunity to evade administrative penalties for failing to timely pay workers’ compensation benefits, a state appellate court ruled Tuesday. A panel of the 3rd District Court of Appeal...
Posted: Nov 02, 2023
Political subdivisions in Texas can’t use governmental immunity to evade administrative penalties for failing to timely pay workers’ compensation benefits, a state appellate court ruled Tuesday. A panel of the 3rd District Court of Appeal...
Posted: Nov 02, 2023
Hub International Limited announced the acquisition of the assets of OH-INS, LLC, d/b/a Overmyer Hall Associates. Terms of the transaction were not disclosed. Headquartered in Columbus, Ohio, Overmyer Hall Associates is one of the largest property &#...
Posted: Nov 02, 2023
Uber and Lyft will pay a combined $328 million to settle claims by New York’s attorney general that the ride-sharing companies systematically cheated drivers out of pay and benefits. Attorney General Letitia James said Uber will pay $290 millio...
Posted: Nov 02, 2023
This edition of International People Moves details appointments at FM Global and MAPFRE and MAPFRE RE. A summary of these new hires follows here. FM Global Names Tadmoury to Lead EMEA, APAC, Canada and Specialty Commercial property insurer FM Global...
Posted: Nov 02, 2023
New York Attorney General Letitia James announced an agreement with one of the nation’s largest title insurance companies to end its poaching agreements with competitors. The insurer, First American Financial Corp., will also pay a $4,5 million...
Posted: Nov 02, 2023
Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh, responsible. Harvard’s excess insurer Zur...
Posted: Nov 02, 2023
The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business owners policy property cove...
Posted: Nov 02, 2023
RALEIGH, N.C. (AP) — Toyota will invest an additional $8 billion in the hybrid and electric vehicle battery factory it`s constructing in North Carolina, more than doubling its prior investments and expected number of new jobs, the company annou...
Posted: Nov 02, 2023
Storm Ciarán plowed through northwest Europe, tearing the roofs off some buildings, snarling transport networks and cutting power to more than a million people. The cyclone delivered punishing winds and heavy rainfall to an area spanning from the UK...
Posted: Nov 02, 2023
One worker was killed and another was trapped under rubble Thursday morning after a unused, 11-story coal tipple collapsed while it was being dismantled to allow reclamation of the land. “Kentucky, we have some tough news out of Martin County &...
Posted: Nov 02, 2023
Australian companies and directors could face legal action if they fail to identify and account for nature-based risks, according to a new opinion backed by lawyers and environmental groups, released Thursday. Directors could be held personally liabl...
Posted: Nov 02, 2023
Apple Inc. on Wednesday lost a bid to block a mass London lawsuit worth up to $2 billion which accuses the tech giant of hiding defective batteries in millions of iPhones. The lawsuit was brought by British consumer champion Justin …
Posted: Nov 02, 2023
Fitch Ratings expects Hurricane Otis’ effects on Mexico’s insurance industry to be controlled and within its current ratings expectations, the agency said in a statement on Wednesday. “Fitch Ratings expects that the credit impact wi...
Posted: Nov 02, 2023
Zurich Insurance Co. has agreed to buy a majority stake in Kotak Mahindra General Insurance Co. for 40.51 billion rupees ($487 million), including infusion of fresh capital. The Switzerland-based insurer will buy 51% stake in Kotak Mahindra Bank̵...
Posted: Nov 02, 2023
Shoring up loss reserves and adding “the premium equivalent” of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The carrier’s chief …
Posted: Nov 02, 2023
Markel said Bryan Sanders, president of its Markel Specialty division, plans to retire by December 31, 2024. Sanders, who joined Markel in 2013 as part of the Alterra Capital Holdings, Ltd. acquisition, has more than 42 years in the insurance …
Posted: Nov 02, 2023
NEXT Insurance said Allstate and Allianz X have invested $265 million in the digital small business insurer. NEXT and Allstate will partner on bringing new commercial products to what they call an underserved target market of 33 million small busines...
Posted: Nov 02, 2023
A U.S. jury on Tuesday found the National Association of Realtors and some residential brokerages, including units of Warren Buffett’s Berkshire Hathaway liable to pay $1.78 billion in damages for conspiring to artificially inflate commissions...
Posted: Nov 02, 2023
A south Florida insurance agent has been charged with absconding with more than $130,000 in premiums, leaving property owners uninsured after Hurricane Ian. Naser Al-Sweity, of Boca Raton, was booked into Palm Beach County jail this week on charges o...
Posted: Nov 02, 2023
A south Florida insurance agent has been charged with absconding with more than $130,000 in premiums, leaving property owners uninsured after Hurricane Ian. Naser Al-Sweity, of Boca Raton, was booked into Palm Beach County jail this week on charges o...
Posted: Nov 02, 2023