Insurance Journal

New York Lawyers, Doctor Sentenced in $31 Million Trip-and-Fall Insurance Fraud

A New York surgeon and two lawyers are the latest professionals to be sentenced for their roles in a massive massive trip-and-fall fraud scheme between 2013 and 2018 that exploited some of the most vulnerable members of the New York …

Posted: Apr 27, 2023

Mystery on Why Two Pesticide Workers Died After Fumigating Florida Warehouse

South Florida authorities are still investigating after two pesticide workers died and a third was hospitalized after fumigating a Pompano Beach warehouse. The three workers sprayed the Baer’s Furniture Warehouse Saturday and finished their shi...

Posted: Apr 27, 2023

NC Commissioner Blasts Bill Giving Blue Cross More Control Over its Surplus

North Carolina’s dominant health insurance provider could transfer billions to a holding company instead of returning portions of that surplus to policyholders, under legislation that advanced Tuesday in the state House. The House Health Commit...

Posted: Apr 27, 2023

Ship Insurers Warn of Russian Oil Price Cap Evasion, Risks of Growing ‘Dark Fleet’

A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track …

Posted: Apr 27, 2023

Ermotti Steps Down as Swiss Re Chair on April 30; de Vaucleroy Takes Interim Role

Swiss Re announced that Sergio P. Ermotti is stepping down as chairman of the Board of Directors on April 30, 2023, after completing the agreed handover period, to fully focus on his new role at UBS, which was announced in …

Posted: Apr 27, 2023

Ermotti Steps Down as Swiss Re Chair on April 30 When de Vaucleroy Takes Interim Role

Swiss Re announced that Sergio P. Ermotti is stepping down as chairman of the Board of Directors on April 30, 2023, after completing the agreed handover period, to fully focus on his new role at UBS, which was announced in …

Posted: Apr 27, 2023

Allegations Against Former Barclays CEO Staley ‘Very Serious’: CEO

Allegations made against British bank Barclays’ former CEO Jes Staley regarding his ties with sex offender Jeffrey Epstein are “very serious,” the lender’s current CEO C.S. Venkatakrishnan said on Thursday. In a call with repo...

Posted: Apr 27, 2023

New Course for Insurance Professionals and CSRs: Other Personal Lines Solutions

April 27, 2023, Austin, TX – Insurance professionals who want to enhance their knowledge of personal lines insurance can now enroll in the CISR Other Personal Lines Solution course administered by The National Alliance for Insurance Education &...

Posted: Apr 27, 2023

Fire Fears After UK’s Grenfell Disaster Set Back Wood Building, With Insurance a Factor

To get fire department approval for their six-story London office project made of strong engineered wood known as mass timber, Theo Michell and Richard Walker had to build a full-scale section of it in the UK, ship it to Poland …

Posted: Apr 27, 2023

Fire Fears After UK’s Grenfell Disaster Set Back Wood Building, With Insurance as Factor

To get fire department approval for their six-story London office project made of strong engineered wood known as mass timber, Theo Michell and Richard Walker had to build a full-scale section of it in the UK, ship it to Poland …

Posted: Apr 27, 2023

ESG Backlash Overshadows Power to Drive Better Returns: UK’s Biggest Fund Manager

The politicization of the acronym ESG risks overshadowing its power to drive returns for shareholders, according to the head of investment stewardship at the UK’s biggest asset manager, Legal & General Investment Management. Taking environm...

Posted: Apr 27, 2023

Hybrid-Work Environments Are Becoming More Inclusive for Women: Deloitte

After three years of trial and error, hybrid-work environments are finally becoming more inclusive. The number of women who reported feeling excluded from meetings and decisions is down more than 36% from last year, according to Deloitte’s thir...

Posted: Apr 27, 2023

Verisk Acquires German Motor Claims Insurtech SV Krug

Verisk, a leading global data analytics and technology provider, has acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. Financial d...

Posted: Apr 27, 2023

Pennsylvania High Court Addresses When Stacked Coverage Waiver Is Not Needed

The removal of a vehicle from a multiple motor vehicle insurance policy, in which stacked coverage had previously been waived, does not require a renewed express waiver of stacked coverage under Pennsylvania’s Motor Vehicle Financial Responsibi...

Posted: Apr 27, 2023

Q1 2023 M&A Transactions Lowest Since 2019

This year’s first-quarter insurance agency mergers and acquisitions were down to the lowest total since Q1 2019, according to a recent report from OPTIS Partners. The total number of transactions (158) showed a 17% drop from Q1 2022 (190) and &...

Posted: Apr 27, 2023

A Record Start to the 2023 U.S. Tornado Season

The U.S. has experienced a record number of tornadoes in the first three months of 2023 according to preliminary data from the National Weather Service Storm Prediction Center (NWS SPC), delivering an active start to the U.S. severe convective storm...

Posted: Apr 27, 2023

Cybersecurity Fail: Top 10 Passwords Used by the Insurance Industry

Despite cybersecurity experts’ repeated warnings, the insurance sector, along with other industries, is not doing a great job when it comes to creating secure passwords, says new research by password manager NordPass. Though employees are repea...

Posted: Apr 27, 2023

45 Years Ago Today, the Deadliest Construction Accident in U.S. Killed 51

It was 45 years ago today that a huge scaffold system collapsed inside a cooling tower under construction at a West Virginia power plant, sending 51 workers tumbling to their deaths 170 feet below. Eleven members of one family were …

Posted: Apr 27, 2023

Uber Eats Driver Slain, Dismembered in Florida After Making Delivery

A Florida man is charged with murder and other offenses in the slaying and dismemberment of an Uber Eats driver who had brought food to the assailant’s house, authorities said Tuesday. Oscar Solis Jr., 30, is charged with killing the …

Posted: Apr 27, 2023

California Community Braces for Floods as Epic Snow Melts

Ron Caetano is packed and ready to go. His family photos and valuables are in the trailer and he’s put food in carry totes. He moved the rabbits and chickens and their automatic feeders to higher ground. He and his …

Posted: Apr 27, 2023

New Mexicans Affected by Last Year’s Wildfire Get FEMA Aid

The Federal Emergency Management Agency Hermits Peak/Calf Canyon Claims Office, charged with administering nearly $4 billion in emergency financial aid for survivors of last year’s record-breaking wildfire in New Mexico, is expected to open its...

Posted: Apr 27, 2023

$1.6M Settlement Reached in Nevada in Handcuffed Prisoner’s Death

The family of a handcuffed inmate who was shot and killed in 2014 by a prison guard trainee reached a $1.6 million settlement with Nevada prison officials, capping a nearly decadelong legal battle that raised questions about the use of …

Posted: Apr 27, 2023

Massachusetts High Court Opens 27,000 Drunk Driving Cases to Reconsideration

The Massachusetts Supreme Judicial Court has ruled that 27,000 people who pled guilty or were convicted of drunk driving from June 1, 2011 to April 18, 2019, are entitled to have their cases reconsidered due to the state police lab’s …

Posted: Apr 26, 2023

Uber Drivers Are Not Interstate Workers Exempt From Arbitration, Court Rules

Uber Technologies Inc drivers are not exempt from a U.S. law requiring them to bring work-related legal disputes in private arbitration rather than joining class action lawsuits in court, a U.S. appeals court ruled on Wednesday. A panel of the &#8230...

Posted: Apr 26, 2023

Louisiana Man Latest to be Sentenced for Staged Automobile Collision Scheme

United States Attorney Duane A. Evans announced that Lois Russell, age 63 of Gibson, Louisiana, was sentenced on April 20, 2023 after previously pleading guilty to Conspiracy to Commit Mail Fraud, a violation of Title 18, United States Code, Section...

Posted: Apr 26, 2023