Insurance Journal
Christopher Phelps, 40, of Yucaipa, and his wife, Kimberly Phelps, 40, were sentenced this week after pleading no contest to felony counts of insurance fraud, child abuse and assault with a deadly weapon. The sentencing comes after a California Depar...
Posted: May 25, 2023
Insurance pricing is cyclical. When loss ratios are sustainably higher, over time prices rise in response, creating a hard market. The last hard market in cyber was in 2021 when an onslaught of ransomware and high-profile cyber attacks drove a …...
Posted: May 25, 2023
Attorneys for a group of workers who believe their jobs cleaning up a massive coal ash spill in Tennessee led to a slew of illnesses, including fatal cancers, have reached a settlement with the contractor who organized the cleanup for …
Posted: May 25, 2023
Italy’s Generali confirmed all its 2024 business plan targets on Thursday after first quarter profits rose on a strong non-life performance which more than offsetting weakness in the insurer’s life business. Generali reported net outflows...
Posted: May 25, 2023
The anti-ESG movement has scored a major victory, with the world’s biggest climate alliance for insurers hemorrhaging members after the Republican Party blamed the group for alleged antitrust violations. On Thursday, French insurers AXA SA and...
Posted: May 25, 2023
The French reinsurer SCOR SE is quitting the world’s main climate alliance for insurers, the latest in a string of defections as the industry reacts to a campaign by the Republican Party to put an end to coordinated ESG strategies. …
Posted: May 25, 2023
Citizens Financial Group Inc. will pay $9 million and take other remedial measures to settle US Consumer Financial Protection Bureau allegations that the bank failed to adequately address credit-card disputes and fraud claims. The consumer watchdog a...
Posted: May 25, 2023
The Chinese government has rejected claims that its spies are penetrating Western infrastructure, calling the joint warning issued by the United States and its allies a “collective disinformation campaign.” Chinese foreign ministry spokes...
Posted: May 25, 2023
CHICAGO (AP) – More than 450 Catholic clergy in Illinois sexually abused nearly 2,000 children since 1950, the state’s attorney general found in an investigation released Tuesday, revealing that the problem was far worse than the church h...
Posted: May 25, 2023
A bankruptcy judge is allowing current and former officials with the parent company of Silicon Valley Bank to tap into the $210 million in insurance coverage available through directors and officers liability policies to defend themselves against lit...
Posted: May 25, 2023
LUBBOCK — On the eve of another drought-ridden growing season, farmers from the High Plains are asking state and national lawmakers to provide a stronger financial safety net. In Austin and Washington, D.C., farmers from the 41-county High Plains reg...
Posted: May 25, 2023
OKLAHOMA CITY (AP) – Oklahoma lawmakers on Tuesday signed off on a $1.05 million settlement with the family of a state prison inmate who died of appendicitis in 2018 despite five visits to the prison’s medical staff in the week …
Posted: May 25, 2023
UK insurer Aviva Plc said demand for private health care continued to surge as more individuals and companies look for alternatives to the National Health Service. Private health insurance sales grew 25% in the first quarter, the UK based insurer ...
Posted: May 25, 2023
A global climate alliance for insurers needs to make its membership rules less prescriptive or risk falling apart, the boss of Lloyd’s of London said after political pressure from some U.S. states prompted some companies to leave. The United Na...
Posted: May 25, 2023
A top U.S. regulator said on Tuesday there is no way to police all cryptocurrency fraud because there is so much, though her agency is working on several big cases. Christy Goldsmith Romero, one of five commissioners at the Commodity …
Posted: May 25, 2023
A federal judge in Atlanta this week awarded USI Insurance Services more than $2 million in compensatory and punitive damages to be paid by three former executives of its aviation group for breach of their employment contracts. According to court ...
Posted: May 25, 2023
In the May 15, 2023 Insurance Journal, independent adjuster Ben Mandell shared an opinion that Florida insurance policies have “one glaring endorsement that is missing” – roof endorsements that could have “eliminated or greatly mini...
Posted: May 25, 2023
In the May 15, 2023 Insurance Journal, independent adjuster Ben Mandell shared an opinion that Florida insurance policies have “one glaring endorsement that is missing” – roof endorsements that could have “eliminated or greatly mini...
Posted: May 25, 2023
Greasy, toxin-laden wastewater discharges by a Mississippi animal feed maker were not accidents and thus are not covered by a Crum & Foster pollution policy, a federal appeals court decided this week in a case that stemmed from an investigation &...
Posted: May 25, 2023
Greasy, toxin-laden wastewater discharges by a Mississippi animal feed maker were not accidents and thus are not covered by a Crum & Foster pollution policy, a federal appeals court decided this week in a case that stemmed from an investigation &...
Posted: May 25, 2023
WATERVILLE, Maine (AP) – Firefighting foam used in battling a fatal fire in an apartment building entered the public water system, prompting the water district to order thousands of residents not to drink the water. The do-not-drink order went...
Posted: May 25, 2023
A divided federal appeals court on Tuesday upheld the constitutionality of a new admissions policy at an elite public high school in Virginia that critics say discriminates against highly qualified Asian Americans. The 2-1 ruling from the 4th U.S. Ci...
Posted: May 25, 2023
Though insurers do a good job attracting new customers shopping for policies via their digital channels, they fall short when it comes to servicing existing customers, a new industry report shows. Overall satisfaction with the P&C shopping experi...
Posted: May 24, 2023
The European Union set out plans on Wednesday to cut how much retail investors pay banks and insurers for financial products to encourage investment and make its capital market deeper and more efficient. The retail investment package toughens up exis...
Posted: May 24, 2023
The world’s biggest climate coalition for insurers is set to hold emergency talks after a wave of defections revealed the extent to which anti-ESG rhetoric in the US is unsettling members. Signatories of the Net Zero Insurance Alliance are due...
Posted: May 24, 2023