Insurance Journal
Credit Suisse shares soared by over 35% in premarket trading on Thursday, while the value of its bonds soared after the company secured a $54 billion lifeline from the Swiss National Bank to shore up liquidity and investor confidence. JPMorgan …...
Posted: Mar 16, 2023
Credit Suisse shares jumped around 18% on Thursday after the company secured a lifeline from the Swiss central bank to shore up investor confidence, reversing some of the losses that stripped off a quarter of its market value the day …
Posted: Mar 16, 2023
Findings from a recent NEXT Insurance survey highlight a significant gap between small business owners’ biggest stressors in 2023 and what they’re prepared for when it comes to their insurance knowledge and coverage. The data’s over...
Posted: Mar 16, 2023
In reporting February financial results that continued a positive start to 2023, Progressive Corp. said it has about $75 million total investments tied to banks recently taken over by the Federal Deposit Insurance Corporation (FDIC). Progressive Corp...
Posted: Mar 16, 2023
U.S. Senate Majority Leader Chuck Schumer on Wednesday urged a federal investigation into safety practices of all seven major freight railroads, following the East Palestine, Ohio derailment of a Norfolk Southern Corp. train. In a letter, Schumer urg...
Posted: Mar 16, 2023
U.S. Senate Majority Leader Chuck Schumer on Wednesday urged a federal investigation into safety practices of all seven major freight railroads, following the East Palestine, Ohio derailment of a Norfolk Southern Corp. train. In a letter, Schumer urg...
Posted: Mar 16, 2023
Berkshire Hathaway Inc. agreed to better explain how its board of directors manages risks, including those taken by longtime Chairman Warren Buffett, after the U.S. Securities and Exchange Commission asked that it do a better job. In correspondence m...
Posted: Mar 16, 2023
Former Florida Insurance Commissioner David Altmaier is barred by law from lobbying his former agency for at least two years after leaving office. So, in his new position with one of the largest and most influential lobbying firms in the …
Posted: Mar 16, 2023
Former Florida Insurance Commissioner David Altmaier is barred by law from working as a lobbying for at least two years after leaving office. So, in his new position with one of the largest and most influential lobbying firms in the …
Posted: Mar 16, 2023
Former Florida Insurance Commissioner David Altmaier has been hired as a lobbyist and consultant by one of the largest and most influential lobbying firms in the state, The Southern Group, the company announced. The Southern Group, which in 2022 beca...
Posted: Mar 16, 2023
A judge on Tuesday granted the Maryland Attorney General’s Office permission to publicly release a redacted version of an investigative report detailing sex abuse allegations against more than 150 Roman Catholic priests and examining the Archdi...
Posted: Mar 16, 2023
A licensed insurance agent, and the insurer she represents, owe a duty of care to a customer to explain coverages but neither the agent nor the insurer has a fiduciary duty to an insured under Connecticut law. U.S. District Judge …
Posted: Mar 16, 2023
A Southern California residential care home company and three of its managers have been charged in connection with 14 COVID-related deaths at one of its facilities three years ago, prosecutors said. The criminal complaint alleges Silverado Senior Liv...
Posted: Mar 16, 2023
The Workers’ Compensation Insurance Rating Bureau of California’s Actuarial Committee is set to talk about insurer experience, and the impact of the economic slowdown on the pure premium. The committee is set to meet virtually at 9:30 a.....
Posted: Mar 16, 2023
The city of Denver will pay $1.6 million to settle lawsuits filed by seven people who police injured during demonstrations over the killing of George Floyd in 2020. The City Council approved the settlements Monday, the largest of which will …
Posted: Mar 16, 2023
The first lawsuit filed over a Christmas tree fire in Philadelphia – which killed 12 members of an extended family last winter – accuses the city’s Housing Agency of lax oversight of the three-story rowhouse and a California company...
Posted: Mar 16, 2023
The first lawsuit filed over a Christmas tree fire in Philadelphia – which killed 12 members of an extended family last winter – accuses the city’s Housing Agency of lax oversight of the three-story rowhouse and a California company...
Posted: Mar 16, 2023
PCF Insurance Services in Lehi, Utah, has announced two new senior vice presidents. Peter Nettesheim was named to the newly created role of senior vice president of data and technology. Nettesheim has 25 years of experience and oversees data, busines...
Posted: Mar 16, 2023
This post is part of a series sponsored by CoreLogic. Over the past five years, wildfires have been particularly devastating across California, leading insurers, homeowners, and regulators to reconsider how they manage and handle risk. This elevated...
Posted: Mar 15, 2023
A sponsor of a far-reaching Florida tort-reform bill warned last week that the measure, unlike previously adopted insurance legislation, is subject to change as it moves through the House and the Senate. On Tuesday, that proved true as the Senate ...
Posted: Mar 15, 2023
Arthur J. Gallagher & Co. announced the acquisition of UK-based AT Squared Holdings Ltd., operating as FE Protect. Terms of the transaction were not disclosed. FE Protect is an insurance broker specializing in the UK education sector. Based in Me...
Posted: Mar 15, 2023
The top U.S. markets regulator announced a package of proposed policies on Wednesday designed to harden the financial system against hacking, data theft and systems failure. At the start of a public meeting, the Securities and Exchange CommissionR...
Posted: Mar 15, 2023
The initial insured losses for the recent floods in the North Island of New Zealand are estimated at NZ$1.65 billion ($1.02 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance dat...
Posted: Mar 15, 2023
Six environmental groups filed a lawsuit on Tuesday over the Biden administration’s approval of ConocoPhillips’ Willow oil and gas project in Alaska, which they claimed could be a stepping stone to more development in an ecologically sens...
Posted: Mar 15, 2023
Had the federal government not stepped in to make Silicon Valley Bank (SVB) depositors whole, providers of directors and officers insurance for startups and venture capitalists – as well as financial institutions supporting these entities – would hav...
Posted: Mar 15, 2023