Insurance Journal
The regulation of property/casualty insurance in California has been an epic failure—look no further than the state of the market for personal automobile and homeowners insurance. California Insurance Commissioner Ricardo Lara’s automobile insu...
Posted: Jun 02, 2023
London-based Arch Insurance International has authorized cryptocurrency insurer Evertas to increase the coverage limit for a single policy to $420 million for custodians or exchanges in what the U.S firm said is the highest in the industry. The move...
Posted: Jun 02, 2023
London-based Arch Insurance International has authorized cryptocurrency insurer Evertas to increase the coverage limit for a single policy to $420 million for custodians or exchanges in what the U.S firm said is the highest in the industry. The move...
Posted: Jun 02, 2023
Alliant Insurance Services Names Matt McGrath as Vice President, Americas Division Matt McGrath has joined Alliant Insurance Services’ Alliant Americas division as vice president. Based in Chicago, McGrath will focus on designing, implementing,...
Posted: Jun 02, 2023
During this year’s legislative session, Texas lawmakers allocated part of the state’s historic $32.7 billion surplus toward better protecting the state against droughts and floods — an investment that followed one of the hottest summers o...
Posted: Jun 02, 2023
Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate, has launched Volante Singapore, according to Asta, the Lloyd’s third-party managing agent. “The launch of Volante Singapore is an early mileston...
Posted: Jun 02, 2023
Stephens Insurance Adds Bettina to Houston Team as P&C SVP Stephens Insurance, LLC, an affiliate of Stephens Inc., has hired Chris Bettina as a senior vice president within the property and casualty practice. Bettina brings nearly 15 years of exp...
Posted: Jun 02, 2023
The maritime sector experienced fewer total losses of vessels in 2022 while the number of shipping incidents remained relatively consistent, according to a recent report. Allianz Global Corporate & Specialty (AGCS) published its Safety and Shippi...
Posted: Jun 02, 2023
Renault could face prosecution in France over faulty engines as a group of customers plans to lodge a criminal complaint against the carmaker next week, the group’s lawyer said on Friday. “We are going to file a complaint on Monday …...
Posted: Jun 02, 2023
A recent report by the Medical Professional Liability Association shows the medical professional liability insurance sector’s combined ratio improved from 108.1% in 2021 to 102.2% in 2022 – marking the industry’s best performance since 20...
Posted: Jun 02, 2023
Arthur J. Gallagher & Co. has acquired Nashville-based Bernard Benefits, an employee benefits brokerage serving clients in Tennessee, Indiana and Texas. Bernard, which focuses on small businesses, is a subsidiary of Bernard Health. Bernard’...
Posted: Jun 02, 2023
The U.S. government is turning up the pressure on Tennessee-based ARC Automotive to recall 67 million potentially dangerous air bag inflators by ordering the company to answer questions under oath and threatening fines if it doesn’t respond. NH...
Posted: Jun 02, 2023
Thirteen coal companies owned by the family of West Virginia Gov. Jim Justice are being sued over unpaid penalties for previous mining law violations that the federal government says pose health and safety risks or threaten environmental harm. Justic...
Posted: Jun 02, 2023
3M Co., DuPont de Nemours Inc. and other makers of per-and polyfluoroalkyl substances, or PFAS, have agreed to pay more than $100 million to resolve a Georgia city’s lawsuit claiming the chemicals polluted its drinking water, according to a per...
Posted: Jun 02, 2023
Chemical makers Chemours Co., DuPont de Nemours Inc., and Corteva Inc. said on Friday they would set up a $1.19 billion fund to settle PFAS-related drinking water claims in the United States. The companies are facing several lawsuits in the …
Posted: Jun 02, 2023
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the appointment of Bronek Masojada as chair of the company’s Board of Directors, effective immediately. Masojada, who joined the board on May 2 this year, is an insu...
Posted: Jun 02, 2023
Kansas Insurance Commissioner Vicki Schmidt announced there will not be a Workers Compensation Fund assessment this year. Carriers, pools, and self-insured businesses will not be required to pay into the assessment fund for fiscal year (FY) 2024. Thi...
Posted: Jun 02, 2023
DAVENPORT, Iowa (AP) – One moment Lexus Berry and her wife were rushing toward the door of their fourth-floor apartment, and the next, Quanishia “Peach” Berry was gone. Their apartment had disappeared into a heap of bricks and steel...
Posted: Jun 02, 2023
A former elections official for a rural Arizona county where leaders have embraced election conspiracy theories has received a $130,000 settlement over toxic work environment claims. Lisa Marra, who was Cochise County elections director during the 20...
Posted: Jun 02, 2023
Reinsurance rates continued to harden during the June 1 renewals, with risk-adjusted property-catastrophe pricing up 33% on average, according to reinsurance broker Howden Tiger. Prices rose within a typical range of 25% to 40%, including important v...
Posted: Jun 02, 2023
A California judge dismissed all charges against Pacific Gas & Electric in connection to a 2020 fatal wildfire sparked by its equipment that destroyed hundreds of homes and killed four people, including an 8-year-old. The utility also reached a $...
Posted: Jun 02, 2023
The unwinding of the blank-check stock frenzy, one of the hottest pandemic-era trends on Wall Street, is playing out its last act on a different stage: the courtroom. The raucous boom in special-purpose acquisition companies — which bankrolled takeov...
Posted: Jun 02, 2023
The success of Republicans in triggering the breakup of a coalition of insurance firms aimed at tackling climate change is down to U.S. states being the industry’s primary regulator, interviews with industry executives and former officials show...
Posted: Jun 02, 2023
A survey published this week by Louisiana State University (LSU)’s Manship School of Mass Communication found that 17% of residents reported their provider cancelled their policy in 2022. The results are part of the 2023 Louisiana Survey, which...
Posted: Jun 02, 2023
The U.S. government’s auto safety agency plans to require that all new passenger cars and light trucks include potentially life-saving automatic emergency braking and meet stricter safety standards within three years. Wednesday’s announce...
Posted: Jun 02, 2023