Insurance Journal
At least four people are dead and nine are injured after a tornado hit Matador, a small town of nearly 800 people northeast of Lubbock, late Wednesday night. The tornado was brought on by several severe storms in the region. …
Posted: Jun 22, 2023
The head of the Federal Deposit Insurance Corporation said Thursday that bank regulators are considering applying an upcoming set of stricter capital rules to banks with over $100 billion in assets. FDIC Chairman Martin Gruenberg said in a speech the...
Posted: Jun 22, 2023
Former insurance executive and businessman Greg Lindberg was found liable for fraud in 2022 in connection with his insolvent insurance companies, but the North Carolina county court did not award damages. Lindberg appealed. But so did four of his for...
Posted: Jun 22, 2023
This edition of International People Moves details appointments at reinsurance brokers BMS Re and Guy Carpenter. A summary of these new hires follows here. BMS Re Names O’Brien as VP in Bermuda BMS Re, the specialty reinsurance arm of the ̷...
Posted: Jun 22, 2023
Sedgwick, the Memphis, Tenn.-based loss adjuster, has launched a new power and energy division in the UK, under the leadership of industry veteran David Ward. The division will focus on claims affecting the energy and power sectors, with the capabili...
Posted: Jun 22, 2023
The company whose submersible vanished in the North Atlantic on a tourist dive to the wreck of the Titanic was repeatedly warned that there might be “catastrophic” safety problems with the venture, documents show. With five people aboard...
Posted: Jun 22, 2023
A homeowner in Florida has been charged with fraud after failing to report a previous claim on her house, the state’s Department of Financial Services said Wednesday. Nancy Salomon, of Port St. Lucie, applied for an HO policy with Olympus ̷...
Posted: Jun 22, 2023
Projections from the National Highway Traffic Safety Administration (NHTSA) indicate first quarter traffic fatalities are down 3.3% compared to the same period a year ago. The NHTSA estimated 9,330 people died in traffic accidents during the first th...
Posted: Jun 22, 2023
The winners of the eighth annual Qorus-Accenture Innovation in Insurance Awards have been announced. The awards, which honor the best ideas and practices transforming the industry for the benefit of insurers and customers, attracted more than 350 ent...
Posted: Jun 22, 2023
The nearly two-week eruption of a Hawaii volcano, one of the most active in the world, has come to a pause, scientists said. After a three-month hiatus, Kilauea began erupting again June 7 – displaying fountains of glowing red lava …
Posted: Jun 22, 2023
The owner of an auto repair shop who paid a former employee with 91,500 oily pennies has been ordered by a judge to pay nearly 4 million more cents. A federal judge ruled that Miles Walker, who owns A OK …
Posted: Jun 22, 2023
The London Metal Exchange failed to investigate a large nickel position held by China’s Tsingshan that sparked a chaotic surge in prices and billions of dollars of canceled trades, lawyers told a London court, despite a previous incident with t...
Posted: Jun 22, 2023
UK Prime Minister Rishi Sunak announced the creation of a framework for war-risk insurance backed by the Group of Seven and designed to encourage private investors to help rebuild Ukraine. Speaking at the opening of the Ukraine Recovery Conference in...
Posted: Jun 22, 2023
Russia is 99.9% certain to quit a U.N.-brokered deal on the safe wartime passage of Black Sea grain next month because it no longer needs Ukrainian ports to export ammonia, a senior Ukrainian diplomat said. The United Nations and Turkey …
Posted: Jun 22, 2023
Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be implemented by the end of th...
Posted: Jun 22, 2023
McKinsey & Co. is beefing up its ethics department after a series of high-profile controversies, including helping Purdue Pharma LP “turbocharge” opioid sales. The management consulting giant is hiring for a newly created position wit...
Posted: Jun 22, 2023
Root Inc’s former chief marketing officer – accused in a lawsuit by the company of syphoning $10 million from it – was ordered detained for contempt of court, and he will need to find another way to pay his attorneys. …
Posted: Jun 22, 2023
A company that makes air-bag inflators that have exploded in eight incidents involving two deaths and seven injuries argued Tuesday that it can’t say for sure whether its inflators might cause further such incidents. In a reply to the National...
Posted: Jun 22, 2023
A union organizer who was fired by Amazon was reinstated by the company after she filed a complaint with the National Labor Relations Board, according to the Retail, Wholesale and Department Store Union. The union had said earlier this month …
Posted: Jun 22, 2023
TransAmerica’s annuity and life insurance units have dodged a bullet and are not liable for their roles in a mentally challenged man giving away most all of his lifetime structured-settlement benefits, a federal appeals court decided. The U.S....
Posted: Jun 22, 2023
Transamerica’s annuity and life insurance units have dodged a bullet and are not liable for their roles in a mentally challenged man giving away most all of his lifetime structured-settlement benefits, a federal appeals court decided. The U.S....
Posted: Jun 22, 2023
Childhood sexual abuse victims in Colorado will no longer be able to file lawsuits over abuse that happened decades ago, as the state Supreme Court struck down a law Tuesday that gave victims a three-year window to sue over abuses …
Posted: Jun 22, 2023
A third person has died following a head-on crash between two siblings in a rural town in western New York, officials said. Dahlia J. Klink, 24, was pronounced dead Sunday night from injuries she suffered after her younger brother crashed …
Posted: Jun 22, 2023
Temporary lanes on Interstate 95 will be open sometime this weekend, with permanent repairs to follow, Gov. Josh Shapiro said Tuesday, more than a week after a section of the interstate collapsed in Philadelphia. “Traffic will be flowing here o...
Posted: Jun 22, 2023
An attorney for 16 young plaintiffs urged a judge Tuesday to strike down as unconstitutional a Montana law that prohibits state agencies from considering the environmental effects when it weighs permits allowing the release of greenhouse gases. Attor...
Posted: Jun 21, 2023