Insurance Journal

People Moves: Lonergan Joins Cadence Insurance as Dallas/Fort Worth Market President

Lonergan Joins Cadence Insurance as Dallas/Fort Worth Market President Kristin Lonergan has joined Cadence Insurance, Inc., headquartered in Houston, Texas, as Dallas/Fort Worth market president. In her new role, she will build and lead a commercial,...

Posted: Mar 22, 2023

J&J to Seek U.S. Supreme Court Review on Unit’s Bankruptcy

Johnson & Johnson said on Wednesday that it would seek a U.S. Supreme Court review of its strategy to address tens of thousands of lawsuits over its talc products in bankruptcy court, after a U.S. appeals court rejected its request …

Posted: Mar 22, 2023

Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re

Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailst...

Posted: Mar 22, 2023

Insurer-Friendly Justice Retires, But That Gives DeSantis 5th Pick on Fla. High Court

Gov. Ron DeSantis’ already strong stamp on the Florida Supreme Court will be even greater for years to come after Justice Ricky Polston retires at the end of this month. DeSantis will have appointed five of the court’s seven justices &#82...

Posted: Mar 22, 2023

Insurer Spots Cybersecurity Weakness With Model Simulating Catastrophic Attacks

Coalition Inc., a cyber-insurance provider that tries to curb digital risk, has designed technology that simulates large-scale attacks to help insurers identify potential weaknesses in their portfolios and prevent widespread losses. The San Francisco...

Posted: Mar 22, 2023

Court Blasts Accident Board for Unsupported Order to End Worker’s Drug Therapy

The Superior Court of Delaware has reversed an order of the Industrial Accident Board (IAB) that an injured former employee stop her doctor-prescribed morphine treatments within six months. The court blasted the IAB for “clearly” abusing...

Posted: Mar 22, 2023

North Carolina Dems Hoping to Stop Elimination of Corporate Income Tax

Democratic lawmakers and advocacy groups called Monday for blocking the planned elimination of North Carolina’s corporate income tax, arguing that companies that benefit from operating in the state should pay a proper share for necessary public...

Posted: Mar 22, 2023

Mississippi Doctor Avoids Jail Time in Multimillion-Dollar Cream Scheme Fraud

A Mississippi doctor will not spend time in jail after pleading guilty to federal misdemeanor charges for his role in a health care fraud scheme that prosecutors said cost insurers about $515 million. Dr. Gregory Auzenne, 51, of Meridian, entered &#8...

Posted: Mar 22, 2023

Report: Nearly 3,000 Buildings Affected by California Floods

An analysis released on Wednesday shows 2,933 properties were impacted by flooding across California, with an average inundation depth at building level of just over 1 foot. ICEYE’ss Flood Insights, a data utility for insurers and emergency man...

Posted: Mar 22, 2023

Zuckerberg, Meta Are Sued for Failing to Address Sex Trafficking, Child Exploitation

A new lawsuit accuses Mark Zuckerberg and other Meta Platforms Inc. executives and directors of failing to do enough to stop sex trafficking and child sexual exploitation on Facebook and Instagram. The complaint made public late Monday by several pen...

Posted: Mar 22, 2023

Duperreault Joins Board of InsurTech Joyn

InsurTech Joyn Insurance announced the addition of industry veteran Brian Duperreault to its board as an independent director. Duperreault previously served as executive chairman for AIG’s Board of Directors and as CEO of AIG from 2017 to 2021....

Posted: Mar 22, 2023

Former AIG CEO Duperreault Joins Board of InsurTech Joyn

InsurTech Joyn Insurance announced the addition of industry veteran Brian Duperreault to its board as an independent director. Duperreault previously served as executive chairman for AIG’s Board of Directors and as CEO of AIG from 2017 to 2021....

Posted: Mar 22, 2023

EU Proposes Clampdown on Companies Using Misleading ‘Green’ Labels

The European Commission proposed rules on Wednesday that would require companies in Europe to back up climate-friendly claims about their products with evidence, to stamp out misleading green labels for products from clothing to cosmetics and electro...

Posted: Mar 22, 2023

Commerzbank Executive Wins £300,000 in Sex Discrimination Suit

A Commerzbank AG manager won more than £300,000 ($366,650) in a sex discrimination lawsuit following a long-standing legal battle with the bank. Jagruti Rajput, who was a senior compliance officer at the firm’s London office, won a sex and mate...

Posted: Mar 22, 2023

Google Asks London High Court to Throw Out Lawsuit Over Medical Records

Google asked London’s High Court on Tuesday to throw out a lawsuit brought on behalf of 1.6 million people over medical records provided to the tech giant by a British hospital trust. The Royal Free London NHS Trust transferred patient …

Posted: Mar 22, 2023

Australian Lender Latitude’s Shares Slump After Hack Details Emerge

Latitude Group Holdings Ltd. shares slumped as trading resumed for the Australian personal lender that disclosed details of a hack almost a week ago. The stock lost 16% as of 11:40 a.m. in Sydney trading. Hackers stole more than 103,000 …

Posted: Mar 22, 2023

Supreme Court Divided Over Coinbase Arbitration Dispute

U.S. Supreme Court justices on Tuesday appeared divided over a bid by cryptocurrency exchange Coinbase Global Inc. to halt customer lawsuits, including by a user who sued after a scammer stole money from his account, as it pursues an effort …

Posted: Mar 22, 2023

People Moves: WKFC Promotes Singhvi to President, Bauer to COO; AmTrust Adds Surian, White to Commer...

WKFC Promotes Singhvi to President and Bauer to COO WKFC Underwriting Managers, Ryan Specialty’s managing general underwriter headquartered in Melville, New York, has made two promotions in its senior leadership. Ravi Singhvi has been promoted...

Posted: Mar 22, 2023

5 Reasons Smart Insurers Embrace Modern Infrastructure in Recessive Market Conditions

This post is part of a series sponsored by AgentSync. Stock markets are struggling. Venture capital funding is drier than it’s been in the last few years. Even with the midterm election wobbles in the rearview mirror, caution will be …

Posted: Mar 22, 2023

Female Gig Workers Face 32% Average Pay Gap

Female gig workers in the U.S. make less than males, wear more hats, and are more worried about their futures, according to Legal & General Group research. A study sponsored by the group found that across all categories of respondents …

Posted: Mar 22, 2023

With Sex Assault Cases on the Rise, Insurers Tighten Hospital Liability Exclusions

South Floridians may remember the case of a patient at Westchester General Hospital in Miami, who said she was sexually assaulted by a hospital worker on New Year’s Eve in 2019 while she was sedated. The worker’s trial is set …

Posted: Mar 22, 2023

With Sex Assault Cases on the Rise, Insurers Tighten Hospital Liability Exclusion Wording

South Floridians may remember the case of a patient at Westchester General Hospital in Miami, who said she was sexually assaulted by a hospital worker on New Year’s Eve in 2019 while she was sedated. The worker’s trial is set …

Posted: Mar 22, 2023

Teen Driver in Crash in New York That Killed 5 Children Had No License

The 16-year-old driver in a crash that killed five young people did not have a driver’s license or permit and may have fallen asleep or become distracted before the SUV veered off a New York highway, officials said Monday. The …

Posted: Mar 22, 2023

Cal/OSHA Cites Company $838K for Exposing Employees to Toxic Chemical

Cal/OSHA issued 18 citations to Parter Medical Products Inc. for reportedly failing to protect its employees from overexposure to ethylene oxide, a toxic chemical. The penalties total $838,800. Six of the citations were for willful-serious violations...

Posted: Mar 22, 2023

Philadelphia Agrees to $9.25M Settlement Over 2020 Protest Lawsuits

Philadelphia officials announced a $9.25 million settlement Monday with hundreds of people over several lawsuits challenging the police response to the protests and civil disorder in 2020 after George Floyd’s death at the hands of Minneapolis p...

Posted: Mar 22, 2023