Insurance Journal
Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies creates the potential for double taxation for some insurance companies, according to an AM Best co...
Posted: Oct 27, 2021
The injured party in an automobile collision cannot double-dip on insurance coverage simply because she calls the payment from the other driver’s policy “punitive damages,” a Georgia appeals court has decided. “The mere fact t...
Posted: Oct 27, 2021
MEXICO CITY – Mexican billionaire Carlos Slim’s Grupo Carso said the cost of repairing a collapsed section of a Mexico City metro rail that caused a fatal accident earlier this year could amount to some 800 million pesos ($40 million). …
Posted: Oct 27, 2021
AM Best credit rating agency has given Florida-based Journey Insurance Co. a financial strength rating of “excellent,” but downgraded the company’s outlook from stable to negative, due to its parent company’s capitalization. J...
Posted: Oct 27, 2021
This post is part of a series sponsored by Old Republic Surety. The business of surety and fidelity bonding represents a growing segment of the insurance industry. Surety companies are eager to partner with independent insurance agents in the vital &...
Posted: Oct 27, 2021
United Airlines Inc. told a federal judge the company is spending millions on paid leave for unvaccinated pilots because their colleagues “refuse to risk their safety” by flying with them. The leave is costing United about $1.4 million ev...
Posted: Oct 27, 2021
There is little surprise when a conversation about cannabis and insurance turns to the subject of capacity. “Really when it comes to cultivation, processing, there is a bit of a hiccup, it seems in the overall market space, I think …
Posted: Oct 27, 2021
It’s part of just about every cannabis conversation: “Hey, it looks like we’re close to seeing cannabis legalized. Is this the year?” There are three promising cannabis bills in Congress – two that would legalize or at least d...
Posted: Oct 26, 2021
The California Labor Commissioner’s Office cited Bodega Latina (dba El Super grocery stores) in Southern California $1,164,500 for failing to provide or delaying supplemental paid sick leave or other benefits to 240 workers at 38 locations affe...
Posted: Oct 26, 2021
The Texas Windstorm Insurance Association expects policies in-force to increase by 5.2% in 2022, according to preliminary budget information shared at a Board of Directors meeting Oct. 25. Policies will increase from a projected 194,054 at December 3...
Posted: Oct 26, 2021
To reduce employee exposure to health hazards and encourage companies to make workplace safety and health a priority, the U.S. Department of Labor Occupational Safety and Health Administration’s regional office in Kansas City has established a...
Posted: Oct 26, 2021
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40% chance of experiencing an annual loss of more than $200 billion in the next decade, according to Boston-based modeling …
Posted: Oct 26, 2021
U.S. health officials may have solved the mystery of how four people in different states came down with a serious tropical disease even though none had traveled internationally: an aromatherapy spray imported from India. The Centers for Disease Contr...
Posted: Oct 26, 2021
The MEMIC Group Hires Pennsylvania’s Beswick, Delaware’s Grandrino Cindy Beswick of Pennsylvania and Angela Grandrino of Delaware have been appointed as senior production underwriter and production underwriter, respectively, by workers...
Posted: Oct 26, 2021
A small earthquake near downtown Los Angeles on Sunday morning was felt widely across Southern California, the U.S. Geological Survey confirmed. The magnitude 3.6 quake hit just after 7 a.m. and was centered about a mile south-southeast of the Boyle...
Posted: Oct 26, 2021
This article originally appeared in Carrier Management. Digital home insurer Hippo hired a former Hiscox executive to be its first chief claims officer, with a mission to expand claims operations for the now publicly-traded California-based InsurTech...
Posted: Oct 26, 2021
Driving a truck too fast and injuring a fellow officer during a firearms training is not within the scope of employment duties for a Massachusetts police officer, the Massachusetts Supreme Judicial Court found. This means his insurer is on the …...
Posted: Oct 26, 2021
A Southern California city will pay $500,000 to settle a lawsuit by a woman arrested for driving under the influence when she was actually having a stroke. The settlement ends a long legal battle over the arrest of Robin Winger, …
Posted: Oct 26, 2021
The powerful storm battering the U.S. Northeast will inundate New York City with lashing rain and possible flash floods through Tuesday night, then unleash the worst of its fury on New England. As much as 4 inches (10 centimeters) could …
Posted: Oct 26, 2021
A growing number of False Claims Act investigations combined with recent court decisions that found insurers liable for the cost of settlements may spell trouble for commercial liability insurers. Policyholder attorney Geoffrey B. Fehling, with Hunto...
Posted: Oct 26, 2021
Labor shortages may be the most intractable of the cost risks that U.S. companies faced in the latest quarter, and as the earnings season moves into its peak there are signs the problem will persist, some strategists say. Finding and …
Posted: Oct 26, 2021
Insurer American International Group announced senior leadership changes that it says strengthen the organization to deliver on its main priorities including the separation of the Life & Retirement business. AIG announced that effective January 1...
Posted: Oct 26, 2021
Insurer American International Group announced senior leadership changes that it says strengthen the organization to deliver on its main priorities including the separation of the Life & Retirement business. AIG announced that effective January 1...
Posted: Oct 26, 2021
The head of the U.S. National Transportation Safety Board on Monday criticized electric carmaker Tesla Inc.’s decision to provide new self-driving software to vehicle owners without addressing safety concerns that the agency raised after a seri...
Posted: Oct 26, 2021
Global commercial insurance prices increased 15% in the third quarter of 2021, which was the same rate of increase recorded in the previous quarter, according to the Global Insurance Market Index released by insurance broker Marsh. While this is the...
Posted: Oct 26, 2021