Insurance Journal
Executive summary: Tony Buckle and John Carolin, co-founders of the boutique insurance consultancy UWX, analyze underwriter motivation during the soft phase of the market cycle. While average market prices are the hardest seen in years, some price so...
Posted: Oct 24, 2023
Four Miami insurance agents have been charged with submitting false life insurance applications and collecting commissions from John Hancock Life Insurance Co., state officials said Monday. Alexander Faneites, Nicolas Giraldo Gutierrez, Yuriatsi Carr...
Posted: Oct 24, 2023
Matching requirements for roofs and interior furnishings have been a tough issue in the property insurance industry for years. Recent developments show how insurers and regulators in different Southeast states are managing the mandates. In Kentucky l...
Posted: Oct 24, 2023
The Alabama Supreme Court has handed down two decisions that could have an impact on uninsured motorist claim payouts and on how construction surety bonds and contracts are defended. In MSE Building Co. vs. Stewart/Perry Co., Buc-ee’s Ltd. and...
Posted: Oct 24, 2023
As expected, a federal judge has postponed Greg Lindberg’s second trial on bribery charges until sometime next spring. Lindberg was convicted in 2020 of attempting to bribe North Carolina Insurance Commissioner Mike Causey in return for allowin...
Posted: Oct 24, 2023
A Connecticut appeals court has revived a wrongful death claim that tests a narrow exception to the state law that makes workers’ compensation the exclusive remedy for most workplace deaths and injuries. Harold Dusto’s estate blames his d...
Posted: Oct 24, 2023
Third quarter net income at W.R. Berkley Corp. increased nearly 46% compared to the same period last year to about $334 million. The Greenwich, Connecticut-based insurer’s consolidated combined ratio for the quarter improved to 90.2 from 92.1 a...
Posted: Oct 23, 2023
Third quarter net income at W.R. Berkley Corp. increased nearly 46% compared to the same period last year to about $334 million. The Greenwich, Connecticut-based insurer’s consolidated combined ratio for the quarter improved to 90.2 from 92.1 a...
Posted: Oct 23, 2023
A Colorado funeral home where 189 decaying bodies were discovered this month appears to have fabricated cremation records and may have given families fake ashes, according to information gathered by The Associated Press from customers and crematories...
Posted: Oct 23, 2023
Two dates in recent memory have shaped the uncertain future of the Fayette Power Project, a coal-fired power plant near La Grange. First, on March 26, 2020, the Austin City Council approved an emissions-reduction plan that called for its city-owned &...
Posted: Oct 23, 2023
CHICAGO (AP) – A teenager who was shot and wounded during a 2019 shootout between suburban Chicago police and a bank robbery suspect inside a music school has reached a $1.9 million settlement with the city of Des Plaines. Rylan …
Posted: Oct 23, 2023
WACO, Texas (AP) – A U.S. District Judge has dismissed former Baylor football coach Art Briles and former athletic direcor Ian McCaw from a federal Title IX lawsuit, ruling no reasonable jury could find them negligent in the domestic violence …
Posted: Oct 23, 2023
AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b+” (Marginal) from “bbb-” (Good) of Badger Mutual Insurance Company based in Mil...
Posted: Oct 23, 2023
Acuity and Progressive Specialty Insurance Co. disputed who should pay after a 16-year-old boy borrowed a friend’s car and crashed it into a utility pole in Streetsboro, Ohio. The driver was insured by Acuity through a policy issued to his R...
Posted: Oct 23, 2023
ATLANTA (AP) — A medical sterilization company has agreed to settle nearly 80 lawsuits alleging people were exposed to a cancer-causing chemical, ethylene oxide, emitted from its plant outside of Atlanta. Details of the settlement were submitte...
Posted: Oct 23, 2023
American Family Insurance shut down “several business systems” after the insurer said it “detected unusual activity in a portion of its network” In an email to Insurance Journal, the Madison, Wisconsin-based insurer said its t...
Posted: Oct 23, 2023
Crash and fatality rates among drivers under 21 have fallen dramatically in the U.S. during the past 20 years, a new report says, while noting young drivers are still the riskiest group behind the wheel. Using data from 2002-2021, a …
Posted: Oct 23, 2023
With warmer oceans serving as fuel, Atlantic hurricanes are now more than twice as likely as before to rapidly intensify from wimpy minor hurricanes to powerful and catastrophic, a study said Thursday. Last month Hurricane Lee went from barely a R...
Posted: Oct 23, 2023
With warmer oceans serving as fuel, Atlantic hurricanes are now more than twice as likely as before to rapidly intensify from wimpy minor hurricanes to powerful and catastrophic, a study said Thursday. Last month Hurricane Lee went from barely a R...
Posted: Oct 23, 2023
The U.S. Justice Department has sought documents and issued subpoenas to Tesla as it scrutinizes the automaker’s driver assistance system Autopilot and vehicle driving range, among other issues, the company said on Monday. Tesla said in a regul...
Posted: Oct 23, 2023
Sompo Int’l Taps Generali’s Conde-Salazar for Distribution & Client Relationships, AIG’s Marcén for Professional Lines in Iberia Sompo International announced two appointments for its Iberian Insurance operation, José María Cond...
Posted: Oct 23, 2023
White Mountains Insurance Group, Ltd. entered into an agreement to acquire a majority stake in Bamboo Ide8 Insurance Services, LLC (“Bamboo”), an MGA focused on the California homeowners insurance market. White Mountains expects to invest...
Posted: Oct 23, 2023
USI Insurance Services acquired Honolulu, Hawaii-based Cavanah Associates Inc. Cavanah Associates is an independent brokerage firm specializing in commercial and personal risk insurance programs. Terms of the transaction were not disclosed. USI is an...
Posted: Oct 23, 2023
“Climate-exacerbated wildfires” cost the nation $394 billion to $893 billion each year in economic costs and damages, according to a Congressional report out this week. The range combines estimates from existing research on property damag...
Posted: Oct 23, 2023
Chemours Co. and its legal predecessor E.I. du Pont de Nemours & Co will face a Dutch criminal investigation for the potential harmful effects of emitting forever chemicals in the Netherlands. Prosecutors said it decided to start an investigation...
Posted: Oct 23, 2023