Insurance Journal

Opportunity to Bring Value in High-Net-Worth Space

Expertise and relationship-building are especially important when securing insurance coverage for high-net-worth individuals. In the dynamic high-net-worth (HNW) homeowners insurance space, independent agents and brokers can stand out with their advi...

Posted: Mar 19, 2023

Third Time’s a Charm for Nevada’s Captive-Focused Insurance Commish

Scott Kipper’s list of LinkedIn experiences runs 14 items long, but that’s not so much him bragging. He’s moved around a lot in a career that stretches back more than 30 years. He could have just left off some of …

Posted: Mar 17, 2023

Insurers: Washington’s Proposal for More Premium Increase Explanations May Delay Filings

Insurers say a new regulation proposed by Washington state Insurance Commissioner Mike Kreidler that requires them to explain premium increases to their policyholders in language consumers can understand has the potential to delay rate filings. Kreid...

Posted: Mar 17, 2023

Looking for a meaningful and impactful career? Commercial insurance may be the answer.

This post is part of a series sponsored by IAT Insurance Group. As today’s workforce seeks to partner with organizations that reflect their values, commercial insurance emerges as the unsuspected dark horse. Yeah, yeah – we know how it sounds....

Posted: Mar 17, 2023

Texas Church Ordered to Pay Back Wages After Concerns About Rodents, Insects

After a nutrition specialist employed at a Dallas, Texas childcare facility raised concerns about rodents, spiders and other insects in its cafeteria, kitchen and other areas, their employer acted far from charitably and terminated the worker in Augu...

Posted: Mar 17, 2023

Wind Farm in Southern Texas Draws Resistance

DEL RIO, Texas (AP) – Long before a Chinese spy balloon captivated and spooked the U.S. public, Kyle Bass foresaw what he deemed another foreign danger slated for skies above the Texas-Mexico border: wind turbines. Dozens of them, roughly 700 &...

Posted: Mar 17, 2023

Minnesota Meat Processing Company Accused of Employing Minors

A meat processing company in Minnesota employed children as young as 13 to work in hazardous conditions, such as operating meat grinders, while they worked overnight shifts and longer hours than allowed by law, the Minnesota Department of Labor and &...

Posted: Mar 17, 2023

London Market Insurers Publish Guidelines for Marine Casualty Claims

New guidelines have been agreed by marine insurers in the London Market to help improve collaboration in the handling of shipping casualties. A protocol document seeks to promote more effective communication between different parties involved in resp...

Posted: Mar 17, 2023

Hawaii Businessman Sued for $2M After Grounding Luxury Yacht

A business owner whose luxury yacht ran aground and leaked diesel fuel into waters off the Hawaiian island of Maui last month is being sued for more than $2 million in damages by a trust that sold him the vessel. …

Posted: Mar 17, 2023

Wichita, Kansas Settles Fatal SWAT Shooting for $5M

The city of Wichita on Tuesday approved a $5 million settlement of a lawsuit filed by the family of a man who was shot and killed by a police officer during a hoax call in 2017. The settlement will go …

Posted: Mar 17, 2023

Train Hauling Corn Syrup Derails in Arizona

A freight train carrying corn syrup – not hazardous materials – derailed in western Arizona, near the state’s border with California and Nevada, BNSF Railway said. “BNSF Railway can confirm that a train carrying corn syrup der...

Posted: Mar 17, 2023

Investigators Cite BP Training, Safety Failures in Ohio Refinery Deaths

BP BP.L violated U.S. process safety rules and did not train workers properly at its Toledo, Ohio refinery, contributing to the death of two workers at the plant last year, U.S. federal investigators said on Thursday. The two refinery workers …

Posted: Mar 17, 2023

California Regulators Could Decide Oil Profits Penalty

California Gov. Gavin Newsom said he wants state regulators to decide whether to impose the nation’s first penalty on oil companies for price gouging, pivoting after months of negotiations with legislative leaders failed to reach an agreement o...

Posted: Mar 17, 2023

Florida House, Senate Committees Advance Slightly Different Tort-Reform Measures

A Florida bill that would clamp further limits on attorney fees and litigation passed another Senate committee Thursday, moving it closer to a Senate floor vote. Senate Bill 236, sponsored by Sen. Travis Hutson, R-Palm Coast, differs slightly from a...

Posted: Mar 17, 2023

Walmart Pumps $200M Into India’s PhonePe, to Build Insurance, Wealth Businesses

Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc. at a pre-money valuation of $12 billion. PhonePe, already India’s most valuable payments firm and among the country’s most hi...

Posted: Mar 17, 2023

Walmart Pumps $200M Into India’s PhonePe, to Be Used for Insurance, Wealth Businesses

Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc. at a pre-money valuation of $12 billion. PhonePe, already India’s most valuable payments firm and among the country’s most hi...

Posted: Mar 17, 2023

Alabama Senate Committee Wants $1B in Pandemic Relief to Go to Infrastructure, Broadband

Alabama lawmakers on Wednesday advanced a House-passed plan to use the state’s final $1 billion in federal pandemic relief funds largely on a mix of water and sewer infrastructure, broadband expansion and health care reimbursements. The Senate...

Posted: Mar 17, 2023

Alabama Senate Panel Wants $1B in Pandemic Relief for Infrastructure, Broadband

Alabama lawmakers on Wednesday advanced a House-passed plan to use the state’s final $1 billion in federal pandemic relief funds largely on a mix of water and sewer infrastructure, broadband expansion and health care reimbursements. The Senate...

Posted: Mar 17, 2023

Connecticut Gunmaker Sued by Son of Colorado Supermarket Shooting Victim

The son of one of 10 people killed at a Colorado supermarket in 2021 is suing gun-maker Sturm, Ruger & Co. over how it marketed the firearm used in the massacre – following the litigation road map set by families …

Posted: Mar 17, 2023

Alabama-based National Security Group Promotes Three to Top Positions

The National Security Group, the Alabama-based parent company of a number of property-casualty, life and health insurance companies, has elevated three people to C-suite positions. Kelly Jackson was named chief financial officer; Tonya Jones is the n...

Posted: Mar 17, 2023

Judge Blocks Forced Arbitration of Diners’ Pricing Claims Against Meal Delivery Firms

A federal judge in Manhattan on Thursday said Grubhub, Uber Eats and Postmates cannot force diners who have used their platforms into binding arbitration over claims they conspired to drive up prices for restaurant meals during the COVID-19 pandemic....

Posted: Mar 17, 2023

Tool & Die Workers at Tenn. Nissan Plant Vote Down Union Effort

Tool and die workers at a Nissan plant in Smyrna, Tennessee voted overwhelmingly against unionization Thursday, another loss for organized labor in the deep South. The workers voted 62-9 against joining the machinists union, according to news reports...

Posted: Mar 17, 2023

IGI Completes Acquisition of Norway-Based MGA Energy Insurance Oslo

International General Insurance Holdings Ltd. announced the completion of the acquisition of Norway-based managing general agency Energy Insurance Oslo AS (EIO). The transaction included the acquisition of all outstanding shares of EIO. The entity, w...

Posted: Mar 17, 2023

Biden’s Antitrust Push Across Agencies Is Working to Block Deals

The Biden administration’s strategy of leaning on industry regulators to block deals that might be tricky for the Justice Department to challenge in court is working. In the past month alone, telecom and airline regulators have moved to nix Sta...

Posted: Mar 17, 2023

Crypto Is Finally Getting Its First Supreme Court Appearance

A clash involving disgruntled Coinbase Global Inc. customers will give the US Supreme Court its first taste of the world of cryptocurrency, foreshadowing future cases that could help define the industry. The justices on Tuesday hear arguments stemmin...

Posted: Mar 17, 2023