Insurance Journal
MADELIA, Minn. (AP) – A meat processing company in Minnesota on Friday agreed to pay $300,000 in penalties after an investigation found it employed children as young as 13 to work in hazardous conditions, such as operating meat grinders, while …...
Posted: Sep 13, 2023
A group of writers including Pulitzer Prize winner Michael Chabon sued Meta Platforms in San Francisco federal court on Tuesday, accusing the tech giant of misusing their works to train its Llama artificial-intelligence software. Chabon, Tony-winning...
Posted: Sep 13, 2023
Korean automakers Hyundai Motor and Kia Corp on Tuesday asked a U.S. judge to reject lawsuits filed by 17 cities for failing to install anti-theft technology in millions of their vehicles. The lawsuits come after thousands of Hyundai and Kia …
Posted: Sep 13, 2023
Burns & Wilcox, the wholesale insurance brokerage, has agreed to acquire Alabama-based Environmental Underwriting Solutions, a wholesale broker specializing in complex environmental exposures, from Insurance Office of America. The move, announced...
Posted: Sep 13, 2023
The board of Hawaii Employers’ Mutual Insurance Company Inc. declared a $4 million dividend to qualifying policyholders. This marks 17 straight years of policyholder dividends, meaning HEMIC will have returned more $48 million to policyholders...
Posted: Sep 13, 2023
Most fast food workers in California would get a $20 minimum wage next year, a nearly $5 per hour raise, under a deal announced this week between labor unions and the industry that will avoid a costly referendum on the …
Posted: Sep 12, 2023
On March 27, 2023, an 18-year-old employee of a Missouri contractor was applying sealant to a commercial building’s roof when he fell more than 22 feet and suffered serious injuries that left him in a coma for five days before …
Posted: Sep 12, 2023
A recent directive issued by Louisiana Insurance Commissioner Jim Donelon orders agents to notify their Louisiana Citizen policyholders when they receive an offer to be placed with a significantly less expensive insurer in the private market. Donelon...
Posted: Sep 12, 2023
Arkansas’ United Home Insurance was placed in receivership by the Pulaski County Circuit Court on September 6. Arkansas Insurance Commissioner Alan McClain a was appointed receiver. United Home consented to the receivership for the purpose of i...
Posted: Sep 12, 2023
Eligible commercial property insurance clients of FM Global will receive a share of what the insurer calls a “resilience credit” to be put toward climate mitigation solutions. Collectively worth $350 million, the initiative follows the al...
Posted: Sep 12, 2023
This edition of International People Moves details appointments at Mosaic and Everest Reinsurance. A summary of these new hires follows here. Mosaic Expands Team of Underwriting Specialists in Canada Mosaic Insurance has built out its team of underwr...
Posted: Sep 12, 2023
A medical researcher has asked a court to throw out a lawsuit that Johnson & Johnson filed against her over her 2019 study on the links between cosmetic talc products and cancer, saying that her research is sound and protected …
Posted: Sep 12, 2023
FORT LAUDERDALE, Fla. (AP) — A pilot told investigators he heard a loud bang before a Florida medical rescue helicopter caught fire in flight last month, leading to a crash that killed a paramedic and a woman on the ground, …
Posted: Sep 12, 2023
The federal district court for Delaware has thrown out a suit by a gun rights group challenging a state law that allows the state’s attorney general to sue firearms companies. The law allows lawsuits by the attorney general against firearms ...
Posted: Sep 12, 2023
Kilauea, one of the most active volcanoes in the world, began erupting Sunday after a two-month pause, displaying glowing lava that is a safe distance from people and structures in a national park on the Big Island. The Hawaii Volcano …
Posted: Sep 12, 2023
A U.S.-focused Cyber Industry Loss Index has been launched by Zurich-based Perils and CyberAcuView, an independent U.S.-based organization formed by leading cyber insurers, to keep capital flowing in the cyber insurance market. The Cyber Industry Los...
Posted: Sep 12, 2023
The central Massachusetts city of Leominster and other nearby communities are dealing with severe flash flooding from excessive rainfall. A state of emergency has been declared in Leominster, a city of about 43,000, due to what officials are calling...
Posted: Sep 12, 2023
Searing temperatures from Texas to Tokyo over the summer are the latest reminder of a growing headache for the energy system, as extreme heat becomes a threat to fuel supply. In addition to causing spikes in electricity demand as people …
Posted: Sep 12, 2023
Even after putting through 20% rate hikes over the course of this year, The Hartford needs another round of similar magnitude next year, the insurance company’s leader said recently. The Hartford’s auto book won’t turn a profit unti...
Posted: Sep 12, 2023
DETROIT (AP) – Property owners seeking to hold the state of Michigan responsible for the disastrous failure of a dam in 2020 have won a critical ruling from an appeals court. The court said claims of “inverse condemnation” – state-imposed...
Posted: Sep 12, 2023
DETROIT (AP) – Property owners seeking to hold the state of Michigan responsible for the disastrous failure of a dam in 2020 have won a critical ruling from an appeals court. The court said claims of “inverse condemnation” – state-imposed...
Posted: Sep 12, 2023
A federal judge has barred attorneys and claimants involved in 3M’s $6 billion settlement with U.S. military servicemembers from any third-party litigation funding agreements. District Judge M. Casey Rodgers in the U.S. District Court for the N...
Posted: Sep 12, 2023
The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to a new AM Best report. Catastrophe …
Posted: Sep 12, 2023
China’s financial regulator on Sunday reduced the risk weighting it attaches to insurance companies’ holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country’s lagging stock market. The National A...
Posted: Sep 12, 2023
This post is part of a series sponsored by IAT Insurance Group. Bobbie Goldie interviews Bill Cunningham on insurance trends, opportunities, and how the specialty property and casualty insurer continues to evolve in ever-changing market conditions.
Posted: Sep 12, 2023