Insurance Journal

WV Lawmakers Cap Damages for Deliberately Putting Workers in Harm’s Way

A bill that would cap some of the damages West Virginia workers and their families can receive if their employer deliberately puts them in harm’s way on the job is headed to the desk of Gov. Jim Justice. The Republican …

Posted: Mar 13, 2023

Aon Updates Europe Windstorm, Severe Convective Storm Models

Aon plc, a leading global professional services firm, updated its Impact Forecasting Europe Windstorm and Severe Convective Storm (SCS) catastrophe models to incorporate emissions scenarios that inform current and future projections of climate and st...

Posted: Mar 13, 2023

Mosaic Insurance Opens Singapore Office, Hiring 2 Specialty Underwriters

Mosaic Insurance has opened an office in Singapore and hired two specialty underwriters to build its transactional liability business across the Asia-Pacific region. Benn Wilson will serve as regional CEO, and head of Asia for Mosaic’s transact...

Posted: Mar 13, 2023

Markets/Coverages: Coalition Enters UK Excess Cyber Insurance Market

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it will enter the excess cyber insurance market in the United Kingdom to help protect businesses with enhanced coverage. By adding additional capacity...

Posted: Mar 13, 2023

Swiss Financial Regulator Monitors Silicon Valley Bank Collapse for Signs of Contagion

Swiss financial regulator FINMA on Monday said it was monitoring the situation surrounding failed Silicon Valley Bank and looking for signs of contagion from the bank’s collapse. “FINMA takes note of the media reports on Silicon Valley Ba...

Posted: Mar 13, 2023

Update: Swiss Regulator Monitors Banks, Insurers for Contagion After SVB Collapse

Swiss financial regulator FINMA on Monday said it was closely monitoring the banks and insurers it oversees after the U.S. moved to guarantee the deposits of two failing lenders in an effort to stem contagion. Credit Suisse’s shares fell to &#8...

Posted: Mar 13, 2023

State Seeks $2.7M in Alleged Back Wages Plus Damages From Highway Shops Operator

Connecticut is suing the operator of the state’s 23 highway rest stops, alleging the company is refusing to pay more than $2.7 million in back wages owed to food service workers for Subway, Dunkin’ and other restaurant chains, state Attor...

Posted: Mar 13, 2023

U.S. Announces it Will Stem SVB Fallout, Customers to Have Deposit Access

Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of th...

Posted: Mar 13, 2023

Finance Firms Managing $136T in Assets Urge Boards for More Environmental Data

Financial institutions managing $136 trillion in assets will this week call on companies to share more data on their environmental impact, the chair of disclosure platform CDP told Reuters. In a letter to the boards of over 15,000 companies, 746 &#82...

Posted: Mar 13, 2023

Finance Firms Managing $136 Trln in Assets Urge Boards for More Environmental Data

Financial institutions managing $136 trillion in assets will this week call on companies to share more data on their environmental impact, the chair of disclosure platform CDP told Reuters. In a letter to the boards of over 15,000 companies, 746 &#82...

Posted: Mar 13, 2023

Hong Kong’s FWD to File Again for IPO Application: Sources

FWD Group Holdings Ltd., the pan-Asian insurance company owned by Hong Kong billionaire Richard Li, is planning to file for a third time for an initial public offering in the financial hub, according to people familiar with the matter. The …

Posted: Mar 13, 2023

U.S. Chamber of Commerce Calls for AI Regulation

The U.S. Chamber of Commerce on Thursday called for regulation of artificial intelligence technology to ensure it does not hurt growth or become a national security risk, a departure from the business lobbying group’s typical anti-regulatory st...

Posted: Mar 13, 2023

A Major Bank Failed. Here’s Why It’s Not 2008 Again

The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking – a bank run – which led to its failure on F...

Posted: Mar 13, 2023

U.S. Judge Rules Against Google, Keeps DOJ Advertising Case in Virginia

A U.S. federal judge on Friday rejected a bid by Alphabet Inc’s Google to move a Justice Department lawsuit against it over dominance in advertising technology from Virginia to New York. “I am going to rule against you,” Judge Leoni...

Posted: Mar 13, 2023

Crash Test Dummies Need to Do Better: GAO

A recent report from the Government Accountability Office recommended the National Highway Traffic Safety Administration rethink crash test dummies in order to collect better data on more types of people. The investigative arm of Congress that examin...

Posted: Mar 13, 2023

Florida Adjusters’ Charges of Doctored Damage Reports Gets Wider Spotlight

Allegations that some insurance carriers have altered field adjusters’ damage estimates has gained more national attention after The Washington Post reported on and documented examples of the practices. Leadership with Florida-based Heritage In...

Posted: Mar 13, 2023

Florida Adjusters’ Charges of Doctored Damage Reports Get Wider Spotlight

Allegations that some insurance carriers have altered field adjusters’ damage estimates has gained more national attention after The Washington Post reported on and documented examples of the practices. Leadership with Florida-based Heritage In...

Posted: Mar 13, 2023

Georgia Business Owner Sentenced in $54M California Workers’ Comp Fraud

Wesley Owens, 54, of Atlanta, Georgia, and Beau Wilson, 38, also of Atlanta, pleaded no contest to multiple felony counts of insurance fraud and conspiracy in Los Angeles Superior Court over charges filed after a California Department of Insurance in...

Posted: Mar 13, 2023

California Business Owner and Conspirator Sentenced in $54M Workers’ Comp

Wesley Owens, 54, of Atlanta, Georgia, and Beau Wilson, 38, also of Atlanta, pleaded no contest to multiple felony counts of insurance fraud and conspiracy in Los Angeles Superior Court over charges filed after a California Department of Insurance in...

Posted: Mar 13, 2023

Virginia County Judge Uses Slavery Law to Rule Frozen Embryos Are Property

Frozen human embryos can legally be considered property, or “chattel,” a Virginia judge has ruled, basing his decision in part on a 19th century law governing the treatment of slaves. The preliminary opinion by Fairfax County Circuit Cour...

Posted: Mar 13, 2023

Maryland Lawmakers Advance Bill to End Time Limit on Sex Abuse Civil Suits

A key panel of Maryland lawmakers on Friday advanced a measure that would end the state’s statute of limitations for when civil lawsuits can be filed against public and private institutions related to child sexual abuse. The Maryland Senate Jud...

Posted: Mar 13, 2023

People Moves: Venbrook in California Names Sherman EVP of Business Development

Venbrook Group, LLC, based in Woodland Hills, California, promoted Brenda Sherman to executive vice president of business development and strategic alliances. A Venbrook executive since 2015, Sherman has more than 30 years of industry experience acro...

Posted: Mar 13, 2023

Groups Say Fire Retardant Injunction Would Increase Western U.S. Risks ‘Dramatically’

Several groups of associations, cities and counties are attempting to challenge a case in Montana they say has the potential to take away an important tool from firefighting efforts at a time when Western U.S. wildfires are worsening. The groups, &#8...

Posted: Mar 10, 2023

ALKEME Acquires Texas’ NAPA Insurance Center

ALKEME announced the acquisition of the NAPA Insurance Center, an Austin, Texas- based insurance agency that provides health and P&C Insurance to NAPA’s independently owned Auto Part Stores and Auto Care Centers nationally. Founded over 30...

Posted: Mar 10, 2023

People Moves: Valley Insurance Hires Weis as Personal Lines Coach; Ryan Specialty Promotes VanAcker...

Valley Insurance Agency Alliance Hires Weis as Personal Lines Coach Valley Insurance Agency Alliance (VIAA) recently hired Brett Weis as personal lines coach. Weis will work with the VIAA’s development team and coach new and existing team membe...

Posted: Mar 10, 2023