Insurance Journal
A federal lawsuit claims FEMA failed to take into account skyrocketing flood insurance costs generated by its new rating system, Risk Rating 2.0. Ten states, along with 43 Louisiana parishes and more than a dozen levee districts, are suing FEMA, R...
Posted: Jun 02, 2023
Everest Insurance Appoints Maritzen Global Chief Underwriting Officer Everest Insurance, the insurance division of Everest Re Group, Ltd., has named Mark Maritzen as global chief underwriting officer. Maritzen is based in New York. Maritzen will over...
Posted: Jun 02, 2023
The head of a trade group for the exterior insulated panel industry has taken issue with a recent hurricane report by Karen Clark & Co., arguing that the report failed to point out that some of the products meet the …
Posted: Jun 02, 2023
Two new hurricane forecast models promise to help property owners and insurers better predict the losses from storms that may be increasing in intensity as ocean waters continue to warm. The National Hurricane Center announced just ahead of the 2023...
Posted: Jun 02, 2023
The owners of a business that loaned McClenny Moseley & Associates $3 million to find clients with hurricane-damaged homes and earn fees by submitting damage estimates to insurers has embarked on a new venture: Transporting unauthorized aliens ou...
Posted: Jun 02, 2023
InsurTech NY has opened its application window for its Digital Managing General Agency (MGA) Lab. Applications for the cohort will be accepted through July 15. InsurTech NY brings together carriers, brokers, investors, and insurtech startups for educ...
Posted: Jun 02, 2023
Buffalo Executive Walsh Elected Big I New York Chair of the Board Insurance producer trade organization Big I New York elected Edward F. Walsh as its chair of the board for the 2023-2024 term. Walsh is chief executive officer of …
Posted: Jun 02, 2023
Vermont officials are concerned that widespread frost across the state last week may have severely damaged thousands of acres of crops, including fruits, produce, berries and wine. Temperatures dropped below freezing in many areas for a sustained tim...
Posted: Jun 02, 2023
A New York City police officer is speaking out against the use of “courtesy cards” by friends and relatives of his colleagues on the force, accusing department leaders of maintaining a sprawling system of impunity that lets people with a...
Posted: Jun 02, 2023
PCF Insurance Services, based in Lehi, Utah, named Rocky Steele senior vice president of legal and compliance. Steele oversees PCF Insurance’s legal and compliance function. He has also served as co-founder and chairman of the board at Ascend E...
Posted: Jun 02, 2023
A Connecticut husband and wife claim in a lawsuit that a bear with a camera is violating their Fourth Amendment right to be free from unreasonable searches and seizures. They want the state to stop it. Mark and Carol Brault …
Posted: Jun 02, 2023
The California Governor’s Office of Planning and Research announced $8 million in project awards through Round I of the Adaptation Planning Grant. The grant, funded through Gov. Gavin Newsom’s 2021-2022 climate budget and established thro...
Posted: Jun 02, 2023
A rare, triple-whammy of cyclones drove the deadly flooding that devastated much of northern Italy this month, but scientists said Wednesday that climate change doesn’t seem to be to blame for the intense rainfall. Using computer simulations an...
Posted: Jun 01, 2023
Several reasons were given within State Farm’s announcement last week the carrier was no longer writing new personal or business property/casualty policies in California – including a challenging reinsurance market, increased risks and historic...
Posted: Jun 01, 2023
Global reinsurance broker Gallagher Re announced the appointment of Linda Johnson as vice chairperson for its North American team, Daniel Veiga as CEO of Gallagher Re Brazil, Treaty Operation, Jia Lou as CEO of Mainland China & Hong Kong, with &#...
Posted: Jun 01, 2023
World Insurance Associates LLC announced that it acquired the business of Morris Insurance Group, Inc. of Clinton Township and Rochester, Michigan on April 1, 2023. Terms of the transaction were not disclosed. Morris was founded over 60 years ago, an...
Posted: Jun 01, 2023
ST. PAUL, Minnesota (AP) – Surrounded by dozens of cheering people in green clothes, Minnesota Democratic Gov. Tim Walz signed a bill Tuesday to legalize recreational marijuana for people over the age of 21 starting in August, making Minnesota...
Posted: Jun 01, 2023
FRANKLIN, Texas (AP) – One person was killed when a boiler exploded at a southeastern Texas power plant Wednesday morning, according to a spokesperson for Dallas-based Luminant. “A contractor was fatally injured” in the blast about...
Posted: Jun 01, 2023
OKLAHOMA CITY (AP) – Two former employees at the State Department of Education filed separate federal lawsuits Tuesday against Republican State Superintendent Ryan Walters and his top aide, alleging they were wrongfully fired last week. Cheryl...
Posted: Jun 01, 2023
DAVENPORT, Iowa (AP) – Five residents of a six-story apartment building that partially collapsed in eastern Iowa remained unaccounted for Tuesday, and authorities feared at least two of them might be stuck inside rubble that was too dangerous t...
Posted: Jun 01, 2023
The owner of a Gloucester, Massachusetts insurance agency has been indicted and arraigned in connection with an alleged embezzlement scheme that left client companies uninsured. The scheme included the agent transferring ownership of her agency to a...
Posted: Jun 01, 2023
According to an analysis by CoreLogic, about 33 million U.S. homes with a combined reconstruction cost value of $11.6 trillion are at risk of hurricane-force winds. CoreLogic released its 2023 Hurricane Risk Report to mark the start of the Atlantic &...
Posted: Jun 01, 2023
Florida’s governor this week signed the Insurer Accountability Act and two other bills that put new restrictions on insurers and require premium discounts for homeowners’ wind-mitigation efforts. Senate Bill 7052 was passed this spring af...
Posted: Jun 01, 2023
The former head of Wells Fargo & Co’s WFC.N retail bank agreed to pay a $3 million penalty to settle U.S. Securities and Exchange Commission fraud charges for misleading investors about sales practices used to inflate a performance metric,...
Posted: Jun 01, 2023
The New York-based biotech and life sciences company Enzo Biochem reported it was hit by a ransomware attack on April 6. The company has since reported that clinical test information of approximately 2,470,000 individuals was accessed and possibly ac...
Posted: Jun 01, 2023