Insurance Journal

Why Labor Unions Are Gaining Leverage in Contract Talks With Big Employers

U.S. union workers are finding more solid footing during contract negotiations with employers as a tight labor market allows employees to flex more bargaining power. Airline pilots, railroad employees, dockworkers, and others have pushed for higher p...

Posted: Jul 10, 2023

Musk Claims Lawyers Overbilled in Fight to Make Him Buy Twitter

Elon Musk sued the law firm that led the court fight to make him complete his takeover of Twitter, saying it took advantage of the company while running up a $90 million bill. Wachtell Lipton Rosen & Katz, among the …

Posted: Jul 10, 2023

A Deep Dive Into 9 Insurance Business Costs You Don’t Need

This post is part of a series sponsored by AgentSync. Tough times don’t last. But tough businesses do. Looking for ways to save money at your insurance carrier, agency, or MGA/MGU? Who isn’t? As the economic outlook remains uncertain and...

Posted: Jul 10, 2023

NC Coaster Crack May Have Formed 6-10 days Before Ride Was Closed, Official Says

An ongoing investigation by North Carolina`s Department of Labor found that a large crack in the support column of a towering roller coaster had been visible for at least a week before the amusement park shut it down for repairs. …

Posted: Jul 10, 2023

Hub International Acquires Golden Corner Wealth Advisors in South Carolina

Hub International Ltd., a major insurance brokerage and financial services firm, has expanded its retirement consulting reach with the acquistion of Golden Corner Wealth Advisors in Seneca, South Carolina. Golden Corner, owned by Golden Green Inc., i...

Posted: Jul 10, 2023

Hatchell Named Senior Deputy Over Three Divisions at NC DOI

The North Carolina insurance commissioner has named veteran department employee Angela Hatchell as senior deputy commissioner for consumer services and agent services. Hatchell, who started at the Department of Insurance in 1999 as a complaint analys...

Posted: Jul 10, 2023

Former Delaware State Trooper Faces Lawsuit for Theft Scheme Targeting Shipping Company

A package reshipping company targeted in a theft scheme by a former Delaware State Police trooper has filed a lawsuit against him and the police agency. TotalTransLogistics LLC said in a complaint filed this week in Superior Court that it …

Posted: Jul 10, 2023

Former Delaware Trooper Faces Lawsuit for Theft Scheme Targeting Shipping Firm

A package reshipping company targeted in a theft scheme by a former Delaware State Police trooper has filed a lawsuit against him and the police agency. TotalTransLogistics LLC said in a complaint filed this week in Superior Court that it …

Posted: Jul 10, 2023

Judge Delays Minimum Wage Hike for New York City App Drivers

A judge Friday ordered New York City to temporarily delay new minimum pay standards for app-based food delivery workers, a day after being sued by Uber Eats, DoorDash and Grubhub. City officials recently announced plans to substantially increase earn...

Posted: Jul 10, 2023

Washington Commissioner Sends Climate Risk Disclosure Survey to Insurers

Washington Insurance Commissioner Mike Kreidler sent out his annual Climate Risk Disclosure survey, requiring insurance companies with more than $100 million in written premiums in the United States in 2022 to respond, his office announced on Friday....

Posted: Jul 07, 2023

Insurers Want to Reform California Law After Farmers Says it Will Limit New Homeowners Policies in t...

The American Property Casualty Insurance Association is calling for reform to California’s primary insurance law following another large insurance carrier limiting new homeowners insurance writing in California. Effective July 3, Farmers will l...

Posted: Jul 07, 2023

Farmers Limits New Homeowners Policies in California, Prompting Insurer Group to Call for Reform

Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier, which follows a similar decision by State Farm last month, adding to a growing list of major carriers that are turning away from &#823...

Posted: Jul 07, 2023

Texas Man Charged With Arson in 2018 Fire That Killed 5, Displaced 200 Others

SAN MARCOS, Texas (AP) – Officials in San Marcos, Texas, have named the man charged with intentionally starting a fire five years ago which killed five people and displaced 200 others. Jacobe De Leon O Shea Ferguson, of Austin, was …

Posted: Jul 07, 2023

Fire Caused by Fireworks Kills 1, Injures 4 in East Texas

GILMER, Texas (AP) __ A man was killed and four other people were hurt after officials say a fireworks accident caused a large fire during preparations for an Independence Day event in East Texas. It was one of at least …

Posted: Jul 07, 2023

Federal Disaster Funds Approved for North Dakota Flood Damage Following Record Snowfall

BISMARCK, N.D. (AP) – Federal disaster funding has been made available to North Dakota to deal with damages caused by major spring flooding following record snowfall. The money became available on Wednesday, when President Joe Biden approved North Da...

Posted: Jul 07, 2023

Norfolk Southern: Other Companies Should Share Blame in Fiery Ohio Derailment

OMAHA, Neb. (AP) – Norfolk Southern says the owner of the rail car that caused the fiery Ohio derailment in February failed to properly maintain it in the years before the crash, and the railroad wants to make sure that …

Posted: Jul 07, 2023

Wisconsin Officials Probe How Roller-Coaster Riders Became Trapped Upside For Hours

CRANDON, Wis. (AP) – State officials are investigating how eight people became trapped upside down on a roller coaster – some of them for more than three hours – at a festival in Wisconsin. The roller coaster`s cars got stuck …

Posted: Jul 07, 2023

Norfolk Southern Looks to Others to Share Blame in February Derailment

Norfolk Southern says the owner of the rail car that caused the fiery Ohio derailment in February failed to properly maintain it in the years before the crash, and the railroad wants to make sure that company and the owners …

Posted: Jul 07, 2023

Q2 Commercial P/C Rates Hold; Personal Lines Slightly Decrease: MaketScout

Like the first quarter of 2023, the composite rate for U.S. commercial property/casualty lines increased 5% in the second quarter, according to MarketScout’s Market Barometer. The Dallas-based distribution and underwriting company, a division o...

Posted: Jul 07, 2023

Q2 Commercial P/C Rates Hold; Personal Lines Slightly Decrease: MarketScout

Like the first quarter of 2023, the composite rate for U.S. commercial property/casualty lines increased 5% in the second quarter, according to MarketScout’s Market Barometer. The Dallas-based distribution and underwriting company, a division o...

Posted: Jul 07, 2023

Kentucky Public Adjusters Must Now File Template Contracts with DOI

Public adjusters in Kentucky must now file template contracts with the state Department of Insurance. House Bill 232, signed by the governor in March, took effect at the end of June. It placed new restrictions on public claims adjusters, including &#...

Posted: Jul 07, 2023

People Moves: Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions; BMS Re Hires 3 for Fac Team; QB...

This edition of International People Moves details appointments at Swiss Re, BMS Re, and QBE Canada. A summary of these new hires follows here. Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions Swiss Re has appointed Ali Shahkarami as &...

Posted: Jul 07, 2023

Canada’s Record Wildfire Season Set to Worsen as Heat Builds

Canada is bracing for higher-than-normal wildfire activity to continue into August, as soaring temperatures and drought turn much of the country’s vast forests into kindling. The Canada fire season, which normally runs from April to September,...

Posted: Jul 07, 2023

Tampa Installer Banned for Life After Leaving Hundreds of Pools Unfinished

Florida’s attorney general has taken extraordinary measures against a Tampa-based pool company, shutting down the company and securing a lifetime business ban against the owner, who left hundreds of swimming pools unfinished around the area. In...

Posted: Jul 07, 2023

World Sees Hottest June on Record as North Atlantic Temperatures Rise

Last month was the warmest June of the past three decades globally, with several places in western Europe hitting all-time records for the month, according to a report by Europe’s earth observation agency Copernicus. Ocean temperatures also ros...

Posted: Jul 07, 2023