Insurance Journal

NHTSA Opens Investigation Into Tesla Seat Belts Coming Loose

U.S. highway safety regulators have opened yet another investigation into problems with Teslas, this time tied to complaints that the seat belts may not hold people in a crash. The investigation by the National Highway Traffic Safety Administration c...

Posted: Mar 29, 2023

Colombia, Peru Eye World Bank Catastrophe Bonds on Renewed Investor Interest

Colombia and Peru are considering returning to a World Bank program that issues bonds to cover claims on natural disasters after the plan faced a nearly two-year lull. The countries are among those looking to take advantage of renewed investor &#8230...

Posted: Mar 29, 2023

Insurance That’s Out of This World, Literally

Battleface CEO Sasha Gainullin feels confident that as space tourism evolves, more data will exist to make insurers more comfortable entering this emerging market. In fact, his company already has a headstart. Battleface is a company launched in Janu...

Posted: Mar 29, 2023

Ermotti to Step Down as Swiss Re Chair to Take UBS Role; Interim Chair Named

Sergio P. Ermotti is stepping down as the chairman of Swiss Re, following his appointment as the new CEO of UBS. Swiss Re’s Board of Directors will immediately start the search to find a successor. In the interim, board member …

Posted: Mar 29, 2023

People Moves: INSUREtrust Names Levy EVP; W. R. Berkley Hires President of Berkley Luxury Group

Levy Joins INSUREtrust as Executive Vice President INSUREtrust, a cyber insurance and risk management specialty broker within Starwind Specialty, has added Florence Levy as executive vice president. She will work out of Denver, Colorado. Before joini...

Posted: Mar 29, 2023

People Moves: FM Global Leadership Appointments; INSUREtrust Names Levy EVP; W. R. Berkley Hires Pre...

FM Global has announced six senior leadership appointments, aligning areas of expertise to ensure a continued growth journey while maintaining competitive advantage, it said. Thierry Masurel has been appointed as senior vice president, division manag...

Posted: Mar 29, 2023

APCIA Says Property Insurance Market ‘Hardest in a Generation’

A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association says in a new white paper. &#8220...

Posted: Mar 29, 2023

Brazil Miner Vale to Pay $56M to Settle SEC Charges Related to Dam Safety Disclosures

Brazilian mining firm Vale SA agreed to pay $55.9 million to settle charges related to allegedly false and misleading disclosures about the safety of its dams prior to a 2019 dam collapse in Brazil that killed 270 people, the U.S. …

Posted: Mar 29, 2023

The Systems Aren’t Connected: A Cautionary Tale for Your Insurance Org

This post is part of a series sponsored by AgentSync. We talk a lot on this blog about the trouble with data silos, the pain of manual data entry (and re-entry), and how frustrating it is for producers, employees, and …

Posted: Mar 29, 2023

At Least 50 U.S. Government Employees Hit With Spyware, Prompting New Rules

At least 50 U.S. government staffers stationed in 10 countries were targeted with commercial hacking tools, commonly known as spyware, according to a senior administration official, highlighting the growing threat caused by offensive cyber vendors an...

Posted: Mar 29, 2023

UK’s Poor Climate Planning Risks ‘Cascading Failures’: Report

Britain is “strikingly unprepared” for a changing climate and could face disruptions to energy, food supply, transport and communications infrastructure if it fails to adapt fast, the government’s independent adviser on climate poli...

Posted: Mar 29, 2023

Mississippi Insurance Agency, Like Others Hit by Storms, Vows to Rebuild After Devastating Tornado

For the third time in the last 18 months, tornadoes or a hurricane have wiped out or have heavily damaged well-established insurance agencies in the Southeast. And all three of those agencies have rebuilt their businesses or have vowed to …

Posted: Mar 29, 2023

Mississippi Insurance Agency, Like Others Hit by Storms, Vows to Rebuild After Tornado

For the third time in the last 18 months, tornadoes or a hurricane have wiped out or have heavily damaged well-established insurance agencies in the Southeast. And all three of those agencies have rebuilt their businesses or have vowed to …

Posted: Mar 29, 2023

Washington Moves to End Child Sex Abuse Lawsuit Time Limits

People who were sexually abused as children in Washington state may soon be able to bring lawsuits against the state, schools or other institutions for failing to stop the abuse, no matter when it happened. House Bill 1618 would remove …

Posted: Mar 29, 2023

Wreckage Complicates Job of Investigators of Chocolate Factory Deadly Blast

Investigators looking for the cause of a deadly explosion that leveled part of a Pennsylvania chocolate factory faced an even more difficult task Monday as they combed through wreckage that was extensively picked apart and moved around during the int...

Posted: Mar 29, 2023

Internet Library’s Book Service Violated Copyright, Judge Rules

A federal judge has sided with four publishers who sued an online archive over its unauthorized scanning of millions of copyrighted works and offering them for free to the public. Judge John G. Koeltl of U.S. District Court in Manhattan …

Posted: Mar 29, 2023

Health Officials See No Sign of Contamination of Philadelphia’s Water After Spill

Philadelphia water officials say they are monitoring water quality closely and have seen no sign of contamination following a chemical spill into the Delaware River in a neighboring county. Bucks County health officials said Sunday that a leak late F...

Posted: Mar 29, 2023

Health Officials See No Sign of Contamination in Philadelphia’s Water After Spill

Philadelphia water officials say they are monitoring water quality closely and have seen no sign of contamination following a chemical spill into the Delaware River in a neighboring county. Bucks County health officials said Sunday that a leak late F...

Posted: Mar 29, 2023

People Moves: Alera Group Names Ballantyne Managing Director of West Region

Alera Group has appointed Cynthia Ballantyne as managing director of the West region. The West region includes 18 offices, 36 locations and 600 employees across California, Arizona and Nevada. Ballantyne joined Deerfield, Illinois-based Alera Group f...

Posted: Mar 29, 2023

$1.5M for California Homeowners Overcharged Under Wildfire Risk Score

Kemper Independence Insurance Co. has issued more than $1.5 million in refunds to thousands of California homeowners after the California Department of Insurance found the carrier overcharged policyholders for wildfire risk. Kemper and its affiliate...

Posted: Mar 29, 2023

People Moves: Watkins Insurance Group Appoints of Two Shareholders

Watkins Insurance Group Appoints of Two Shareholders Watkins Insurance Group has announced the appointment of Joe Guyton and John Aoueille as two new shareholders. With over a decade of commitment to the agency, Guyton and Aoueille have demonstrated...

Posted: Mar 28, 2023

Death Row Minister Files $10M Defamation Suit Against Oklahoma Corrections Agency

OKLAHOMA CITY (AP) – A death row minister who was inside the execution chamber during Oklahoma’s last lethal injection sued the Department of Corrections for $10 million on Friday, alleging the agency and its spokesman defamed him in a st...

Posted: Mar 28, 2023

Fire Damages Ohio Complex Housing Wright Brothers Plane Factory

DAYTON, Ohio (AP) – An early morning fire damaged a commercial building complex housing a historic factory founded by the Wright Brothers in Ohio on Sunday, authorities said. Dayton fire crews were sent to the site just before 2:30 a.m. …

Posted: Mar 28, 2023

Train Derails in Rural North Dakota, Spills Chemical

WYNDMERE, N.D. (AP) – A Canadian Pacific train derailed in rural North Dakota Sunday night and spilled hazardous materials, but local authorities and the railroad said there is no threat to public safety. There were no injuries and no fire &#82...

Posted: Mar 28, 2023

St. Louis Sues Hyundai, Kia Over Car Thefts

The city of St. Louis, Missouri, said on Monday it was joining a number of major U.S. cities that are suing Korean automakers Hyundai Motor 005380.KS and Kia Corp 000270.KS for failing to install anti-theft technology in millions of their …

Posted: Mar 28, 2023