Insurance Journal
A Florida bill that aims to further limit injury and insurance litigation and attorney fees passed a state Senate committee Tuesday after heavy debate – but with few changes. Senate Bill 236, the companion to House Bill 837, a wide-ranging …
Posted: Mar 08, 2023
A defunct company that spilled more than a million gallons of crude oil and wastewater in California must pay more than $65 million in penalties and cleanup costs, federal prosecutors announced. A federal court entered a final judgment last week R...
Posted: Mar 08, 2023
A New York federal judge has refused to lower the curtain on a Covid-19 business loss claim by the owner of five Broadway theaters because the entertainment insurance policy language is ambiguous as to whether the theater suffered one loss …
Posted: Mar 08, 2023
The Environmental Protection Agency is expected to propose restrictions on harmful “forever chemicals” in drinking water after finding they are dangerous in amounts so small as to be undetectable. But experts say removing them will cost b...
Posted: Mar 08, 2023
The National Highway Traffic Safety Administration (NHTSA) said Wednesday it is opening a preliminary investigation into 120,000 2023 Tesla Model Y vehicles after two reports of steering wheels falling off while driving. The U.S. auto safety regulato...
Posted: Mar 08, 2023
Georgia’s Stegeman Coliseum has been closed for repairs after a small piece of concrete fell from the ceiling of the nearly 60-year-old facility that hosts several of the university’s sports teams and school graduation ceremonies in the s...
Posted: Mar 08, 2023
Heritage Insurance Holdings Inc. (HRTG) on Thursday reported fourth-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier. For the year 2022, though, the company reported that its loss widened to $154.4 million...
Posted: Mar 08, 2023
Crawford & Co. (CRD. A), a claims management and adjusting firm for insurers, reported a fourth-quarter loss of $14.1 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Atlanta-based company said it ...
Posted: Mar 08, 2023
ReFlex Solutions Ltd., a new independent reinsurance brokerage, has launched in Bermuda with near-term plans for expansion into London and the U.S. The new business is led by Neville Ching, an industry veteran with 40 years’ experience in broki...
Posted: Mar 08, 2023
This edition of International People Moves details appointments at Hiscox, Optio Group and Conduit Re. A summary of these new hires follows here. Childs to Retire as Chair of Hiscox Board Hiscox Ltd., the international specialist insurer, announced t...
Posted: Mar 08, 2023
Azur Group, the UK-based insurtech, has agreed to sell its technology services business to its senior managers, backed by prominent angel investors. The new company will be called Azur Technology and will focus on the development of digital systems f...
Posted: Mar 08, 2023
This post is part of a series sponsored by AgentSync. The Southwest Airlines catastrophe that rounded out 2022 may have been a nightmare for everyone involved, but there was one positive that came out of it. The debacle helped start …
Posted: Mar 08, 2023
A tropical cyclone churning off the coast of Madagascar and expected to make landfall for a second time in Mozambique on Saturday — packing winds of as much as 190 kilometers (118 miles) per hour — appears to have smashed …
Posted: Mar 08, 2023
Canada’s financial industry regulator published a set of guidelines for banks, insurance companies and other regulated firms to assess and disclose climate risks. Financial firms will need to release climate-related financial disclosures at lea...
Posted: Mar 08, 2023
During an investor conference last week, Progressive’s leader revealed some subtle wording changes to the company’s purpose and vision. Unchanged, however, are four pillars of Progressive’s strategy, including one pillar labeled ...
Posted: Mar 08, 2023
Tracy Ryan will join the Allianz Global Corporate & Specialty SE Board of Management as Chief Regions and Markets Officer for North America. She succeeds William (Bill) Scaldaferri who has decided to leave Allianz after 23 years, 11 of which R...
Posted: Mar 08, 2023
This post is part of a series sponsored by CoreLogic. The increased frequency of severe storms and climate change-fueled catastrophes is driving the need for insurance carriers to prepare themselves to handle more and more insurance claims. They must...
Posted: Mar 08, 2023
Apparently false fears of a shooting at a rap concert in Rochester, New York, sent a crowd surging toward the exits, killing one person and injuring nine others, police said. The injuries at Sunday night’s concert featuring rappers GloRilla and...
Posted: Mar 08, 2023
Oregon is set to receive more than $420,000 from a settlement with Nexo securities. The North American Securities Administrators Association and the U.S. Securities and Exchange Commission recently announced that a settlement has been reached with Ne...
Posted: Mar 08, 2023
Washington Insurance Commissioner Mike Kreidler issued fines in February totaling $25,500 against insurance companies, producers, brokers and individuals who reportedly violated state insurance laws and regulations. Following is a breakdown of who wa...
Posted: Mar 08, 2023
The California Labor Commissioner’s Office cited Feld Care Therapy Inc. in Westlake Village. More than $9 million for misclassifying 1,280 speech, physical and occupational therapists as independent contractors. The part-time workers, who trave...
Posted: Mar 08, 2023
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on proposed changes to DWC Form-022, Request for a required medical examination (RME); DWC Form-031, Request to change payment period or pur...
Posted: Mar 07, 2023
Goodwin to Lead Marine Underwriters of America’s new Marine Claims Department Marine Underwriters of America, a DOXA Insurance company and premier underwriter of ocean marine, inland marine and related properties, has hired Dustin Goodwin as th...
Posted: Mar 07, 2023
Norfolk Southern has promised to pay $7 million in relief to Pennsylvania communities affected by last month’s train derailment over the border in East Palestine, Ohio. Pennsylvania Gov. Josh Shapiro called the commitment “a starting poin...
Posted: Mar 07, 2023
SPRINGFIELD, Ohio (AP) – Authorities in Ohio say there is no indication of any risk to public health from the derailment of a Norfolk Southern cargo train between Dayton and Columbus, the second derailment of a company train in the …
Posted: Mar 07, 2023