Insurance Journal

It’s Open Enrollment Time Again! Prepare Your Clients to Make Good Choices About Benefits

This post is part of a series sponsored by AgentSync. Open enrollment is an important time for employers and employees, which means it’s an important time for anyone who sells benefit policies, including insurance agents, carriers, brokers, and...

Posted: Dec 07, 2023

People Moves: Standard Lines Services Names Lakey as Division Leader

Standard Lines Services named Joshua Lakey division leader. Standard Lines Services is a division of Graham-Rogers Insurance, based in Bartlesville, Okla. Lakey has 18 years of insurance experience and previously served as senior territory manager at...

Posted: Dec 07, 2023

WCRI: Wisconsin’s Medical Payments per Claim Remain Stable but Highest Among 17 States

Medical payments for treatment of injured Wisconsin workers were the highest of 17 study states, according to a recently released report from the Workers Compensation Research Institute (WCRI). The study, CompScope™ Medical Benchmarks for Wisconsin,...

Posted: Dec 07, 2023

New England’s Foy Insurance Group Acquired by World Insurance

New England’s Foy Insurance Group has been acquired by national broker World Insurance Associates. The Foy agency, headquartered in Exeter, New Hampshire, has been doing business in New Hampshire for more than 100 years. Today it is one of New...

Posted: Dec 07, 2023

New Orleans Marsh Fire Blamed For Fatal Highway Crashes is Out After Burning For Weeks

NEW ORLEANS (AP) – A stubborn, smoky marsh fire that contributed to fatal car crashes on fogbound highways and sometimes fouled New Orleans air with a pervasive stench has been completely extinguished after burning for over a month, the New …

Posted: Dec 07, 2023

Higginbotham Acquires Ohio’s Botson’s Insurance Group

Higginbotham has acquired Botson Insurance Group of Avon, Ohio. This move extends the Texas firm’s presence across Ohio, as Higginbotham formed a similar collaboration with western Ohio’s Community Insurance Group, Ltd. earlier this year....

Posted: Dec 07, 2023

People Moves: Ardonagh Group Announces Senior Management and Structural Shakeup; QBE Promotes Purkis...

This edition of International People Moves details appointments at the broker Ardonagh and QBE Europe. A summary of these new hires follows here. Ardonagh Group Announces Senior Management and Structural Shakeup The Ardonagh Group, the London-based i...

Posted: Dec 07, 2023

Costs of Small Business Cyberattacks Are Down But Frequency Is Up, Says Hiscox

The less-than-encouraging news: Only a third (33%) of US small businesses consider cyber risk high or very high. The somewhat encouraging news: 53% of U.S. small businesses have either a standalone cyber insurance policy or have cyber coverage throug...

Posted: Dec 07, 2023

Global Insured Losses From Severe Convective Storms Hit New High of $60B: Swiss Re

Global insured losses from severe thunderstorms have hit a new all-time high of US$60 billion in 2023, with overall natural catastrophe claims surpassing $100 million, according to Swiss Re Institute in a new report. As the US is particularly prone &...

Posted: Dec 07, 2023

New Mexico Sues Meta, CEO Zuckerberg Over Child Protection Failures

New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitatio...

Posted: Dec 07, 2023

Markets/Coverages: Driver Technologies Launches Video Telematics-Based Driver Score

Driver Technologies, Inc., an AI-based mobility tech company, has announced its Driver Technologies Rating Service Inc. (DTRS) is rolling out its newly launched driver score to commercial fleets and insurance partners. In a press release, Driver Tech...

Posted: Dec 07, 2023

Florida Family Sues Panera Bread Over Caffeinated Lemonade After Man’s Death

FLEMING ISLAND, Fla. (AP) –The family of a 46-year-old Florida man has filed a wrongful death and negligence lawsuit against one of the biggest fast-casual restaurant chains in the U.S., claiming Panera Bread Company`s caffeine-filled lemonade...

Posted: Dec 07, 2023

North Carolina Hog Farms Were Properly Permitted, State Appeals Court Says

RALEIGH, N.C. (AP) — Several hog farms in North Carolina were properly allowed to collect energy from the animals` waste, a state appeals court said Tuesday, ruling that their permit applications were scrutinized appropriately before their appr...

Posted: Dec 07, 2023

UK Data Protection Watchdog Warns Companies Over AI Use and Privacy

Britain’s data protection watchdog warned companies to consider people’s privacy rights whenever they use artificial intelligence (AI) or face not just fines but losing the public’s trust in the technology. The country’s Infor...

Posted: Dec 07, 2023

Report: Kentucky Fund Made $239,000 in Erroneous Tornado Relief Payments

FRANKFORT, Ky. (AP) — A report released Tuesday by state officials on the disbursement of Kentucky`s tornado relief fund found that it sent out about $239, 000 in mistaken payments. The review of the fund by State Auditor Mike Harmon`s …

Posted: Dec 07, 2023

Family of Man Who Died Sues Tow Truck Driver They Said Sat on the Man’s Head

ATLANTA (AP) — The family of a Georgia church deacon who died after struggling with a police officer following a minor car crash has filed a wrongful death lawsuit against a tow truck driver they say arrived during the confrontation …

Posted: Dec 07, 2023

Airline Industry to Meet to Discuss Safety Concerns Around Spike in GPS Spoofing

Global aviation industry leaders will meet in January to discuss safety concerns around increased GPS interference by cyberattackers steering planes off course, an International Air Transport Association executive said on Wednesday. Global Positionin...

Posted: Dec 07, 2023

AXA Weighs $1.1B Disposal of European Protection Insurance Businesses: Sources

AXA is considering selling some of its protection insurance businesses across Western Europe in a deal that could be worth up to 1 billion euros ($1.1 billion), two people close to the matter told Reuters. The French insurance group has …

Posted: Dec 07, 2023

Maersk Introduces Risk Surcharge on Shipments to Israel to Cover Insurance Costs

Shipping group A.P. Moller-Maersk said on Thursday it will introduce a risk surcharge next year on container shipments to Israel to cover rising insurance premiums due to the security situation. “Moving into 2024, insurance premiums continue to...

Posted: Dec 07, 2023

UK Insurance Broker Ardonagh Weighs Refinancing $3.9 Billion Debt Pile

The Ardonagh Group is considering refinancing its entire debt stack to help finance more acquisitions, in a deal that would rank among the largest ever for private credit. The UK insurance broker is in talks with lenders about refinancing its …

Posted: Dec 07, 2023

Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots

Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots. Political violence cover, which businesses can take out to &...

Posted: Dec 07, 2023

J&J Cites ‘Progress’ Settling Baby Powder Cancer Cases

Johnson & Johnson said it’s moving forward to resolve lawsuits that claim its talc-based Baby Powder causes cancer to avoid facing some jury trials next year and further its strategy of finding a global settlement for thousands of cases. &#...

Posted: Dec 07, 2023

Ex-Twitter Exec Claims in Lawsuit He Was Fired for Raising Security Concerns

A former executive at Twitter Inc, now called X Corp, has filed a lawsuit claiming he was fired after Elon Musk acquired the company for objecting to budget cuts that would prevent the company from complying with a U.S. government …

Posted: Dec 07, 2023

Businesses Feel Prepared Yet Lack Ample Insurance, Says HUB Exec Survey

When it comes to facing risk in 2024, most organizations are not as prepared as they may think they are. The newly released 2024 HUB Outlook Executive Survey revealed gaps in maintaining financial stability and profitability, building a vital and &#8...

Posted: Dec 07, 2023

Long Island Rail Road Employee Falsified Inspection Report Before Derailment

A former employee of the Long Island Rail Road (LIRR) pleaded guilty to falsely claiming he had inspected a part of a railway that an investigation determined was broken and contributed to a collision in Speonk, New York in 2019. …

Posted: Dec 07, 2023