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| News Archives - Insurance Journal |
| Insurance Journal delivers the latest business news for the Property/Casualty insurance industry |
| Houthis Say They Could Reassess Red Sea Attacks if Israeli ‘Aggression’ Stops |
| 2/28/2024 3:54 AM (International & Reinsurance News, Israel Hamas war, marine insurance, marine safety, marine war risks, Ocean marine, shipping insurance, supply chain disruptions, war risk insurance, war risks) |
| Yemen’s Houthis said on Tuesday they could only reconsider their missile and drone attacks on international shipping in the Red Sea once Israel ends its “aggression” in the Gaza Strip. Asked if they would halt the attacks if a ceasefire … |
| Banks, Insurers Targeted as Climate Group Seeks EU Review of Deforestation Rule |
| 2/28/2024 3:27 AM (International & Reinsurance News, Amazon deforestation, biodiversity, climate activists, Climate Change, Corporate Sustainability Due Diligence Directive, deforestation, environmental social and governance (ESG), environmental social and governance (ESG) criteria, EU ESG rules, EU financial services, EU insurer regulation, EU regulation, Global Canopy, global warming, Research and Trends) |
| Climate activists are putting pressure on the European Union to reconsider its decision to exclude banks from a landmark deforestation rule, in a move designed to preempt an official review of the regulation next year. UK-based nonprofit Global Canopy says … |
| Southern Water Fined for Sewage Spill That Killed 2,000 Fish in England |
| 2/28/2024 2:14 AM (International & Reinsurance News, environmental pollution, environmental pollution liability, sewage spill, Southern Water, UK Environment Agency, UK market, water pollution) |
| Southern Water was fined £330,000 on Tuesday after admitting a raw sewage spill that killed thousands of fish on the edge of England’s South Downs National Park. Southern, which supplies more than 4.6 million people in England, acknowledged that sewage … |
| UK Has More ‘Fragile Firms’ Than EU Peers: Allianz Report |
| 2/28/2024 1:27 AM (International & Reinsurance News, Allianz, Allianz Trade, Research and Trends, UK market) |
| The UK has the highest proportion of “fragile firms” out of all major European economies, another sign of the headwinds facing Prime Minister Rishi Sunak as he attempts to boost growth. About 15% of small and medium-sized enterprises in the … |
| Wildfires Forces Texas Panhandle Residents to Shelter in Place |
| 2/28/2024 0:38 AM (Texas / South Central News, Texas panhandle wildfires, Texas wildfires) |
| Officials have ordered nearly 5,000 residents in the Panhandle cities of Canadian, Fritch and Glazier to shelter in place Tuesday as four separate wildfires engulfed the region, burning more than 280,000 acres. Residents in Hemphill County, where Canadian is, were … |
| Change Healthcare Cyberattack Is Still Disrupting Pharmacies, Other Providers |
| 2/28/2024 0:34 AM (National News, ALPHV hackers, BlackCat, cyber, cyberattack, cybersecurity, healthcare industry, UnitedHealth) |
| A cyberattack that has disrupted Change Healthcare’s computer networks for nearly a week is creating a growing administrative problem for pharmacies and health-care providers around the nation. Change Healthcare, a division of UnitedHealth Group Inc., processes insurance claims and pharmacy … |
| OpenAI Says New York Times ‘Hacked’ ChatGPT to Build Copyright Lawsuit |
| 2/28/2024 0:22 AM (National News, AI risk, artificial intelligence (AI), ChatGPT, copyright infringement, New York Times, OpenAI) |
| OpenAI has asked a federal judge to dismiss parts of the New York Times’ copyright lawsuit against it, arguing that the newspaper “hacked” its chatbot ChatGPT and other artificial-intelligence systems to generate misleading evidence for the case. OpenAI said in … |
| Markets/Coverages: Legal & Contingency Launches EV Charging Site Insurance for England and Wales |
| 2/28/2024 0:15 AM (International & Reinsurance News, electric vehicles, Legal & Contingency Ltd., Managing General Agency (MGA), managing general agents (MGAs), Markets/Coverages, net zero emissions, title insurance) |
| Legal & Contingency Ltd. (L&C), the London-based MGA that specializes in underwriting legal indemnities and title risks, announced the launch of an insurance policy which will cover the installation of electric vehicle charging points in England and Wales. The “Electric … |
| People Moves: Alabama, NC DOIs Name Two to Key Positions |
| 2/28/2024 0:02 AM (Southeast News, career moves, insurance people, people moves southeast 2024) |
| Two state insurance departments have named new people to high-level positions. North Carolina Insurance Commissioner Mike Causey this week announced that Amy Funderburk, a longtime attorney for a number of state government agencies and a credit union, will take over … |
| Florida Senate Panel Advances Bill Making it a Felony to Expose Responders to Fentanyl |
| 2/28/2024 0:01 AM (Southeast News, fentanyl-related deaths, Florida legislature, overdoses for law officers, WC news, workers' compensation) |
| A Florida Senate committee on Tuesday approved an amended bill that could potentially reduce workers’ compensation costs for first responders in the state, people who are at increasing risk of exposure to accidental fentanyl overdoses. Senate Bill 718, by Sen. … |
| Boston Property Manager Sued For Revoking Job Offer for Woman With Breast Cancer |
| 2/28/2024 0:00 AM (East News, Americans with Disabilities Act (ADA), disability accommodation, employment discrimination) |
| The Equal Employment Opportunity Commission (EEOC) is suing a Boston property management firm for allegedly violating federal law by failing to provide a reasonable accommodation to a new hire with a disability and subsequently withdrawing her job offer,. The lawsuit … |
| Magnitude 4.9 Earthquake Shook Idaho |
| 2/28/2024 0:00 AM (West News, damage, earthquake, U.S. Geological Survey, USGS) |
| An earthquake of 4.9 magnitude struck north of Boise, Idaho, reportedly causing no major damage or injuries, authorities confirmed. The quake happened at 10:25 a.m. on Monday and was centered about 6.2 miles north of Smiths Ferry, according to the … |
| Multiple Causes Likely in Deaths of 14 Horses at Saratago Last Year. Could Rainfall Be One? |
| 2/28/2024 0:00 AM (East News, equine insurance, horse deaths, race horse insurance, saratoga race course) |
| A review of 14 horse deaths at Saratoga Race Course last summer found no definitive cause of why they happened, saying rainfall “could not be overlooked” as a factor. The Horseracing Integrity and Safety Authority, in a report released Monday, … |
| Baldwin to Stand Trial in Summer over Deadly New Mexico Movie Set Shooting |
| 2/28/2024 0:00 AM (West News, damages, entertainment, lawsuit, Liability, New Mexico, Rust movie set shooting) |
| A New Mexico judge has set a trial date for Alec Baldwin on an involuntary manslaughter charge stemming from the 2021 deadly shooting on the set of the Western movie “Rust.” The scheduling order calls for jury selection to begin … |
| People Moves: Hudnall Joins Alliant Insurance Services’ Denver Team |
| 2/28/2024 0:00 AM (West News, people moves, west) |
| Chris Hudnall has joined Alliant Insurance Services as vice president within its Alliant Americas division. Hudnall is based in Denver. Before joining Alliant, Hudnall was vice president at Moreton & Company and worked as an associate producer at Van Gilder … |
| People Moves: Markel’s Colosimo Joins CRC; Risk Strategies Consulting Names Piltch |
| 2/27/2024 12:09 PM (East News, CRC Group, East, people moves, Risk Strategies) |
| CRC Group, headquartered in Birmingham, Alabama, hired Vince Colosimo as executive vice president in the company’s New York City downtown office. Colosimo will assume the role of office president in mid-2025, with current Office President Fred Curatolo taking on a … |
| People Moves: Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO; Marsh Names Fort From McGill and Partners as Int’l Cyber Product Leader |
| 2/27/2024 11:25 AM (International & Reinsurance News, Ardonagh Specialty, Marsh, Marsh Specialty, people, Price Forbes, Sarah Horler, Shannan Fort) |
| This edition of International People Moves details appointments at the brokers Price Forbes and Marsh. A summary of these new hires follows here. Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO Sarah Horler has been appointed as Price … |
| Family Dollar to Pay $41M Fine Over Rodent-Infested Distribution Center |
| 2/27/2024 11:08 AM (Texas / South Central News, Family Dollar, FDA lawsuit, insanitary conditions, settlement) |
| Family Dollar agreed this week to pay $41.7 million for holding food, drugs, medical devices, and cosmetics under insanitary conditions at company’s West Memphis, Arkansas, distribution center. A criminal information unveiled Feb. 26 in federal court in Little Rock, Arkansas, … |
| Iowa Meat Processing Plant Accused of Illegally Hiring Children |
| 2/27/2024 10:59 AM (Midwest News, child labor law violations, iowa meat processing plant) |
| DES MOINES, Iowa (AP) — U.S. authorities have accused another sanitation company of illegally hiring at least two dozen children to clean dangerous meat processing facilities, the latest example of illegal child labor that officials say is increasingly common. The … |
| Illinois Insurance Agent Sentenced to 7 Years in Prison for Swindling Premiums |
| 2/27/2024 10:55 AM (Midwest News, annuity scam, insurance fraud) |
| The owner of a suburban Chicago insurance agency has been sentenced to seven years in federal prison for swindling more than $1 million from clients by collecting annuity premiums for policies that he never purchased, the U.S. Attorney’s Office, Northern … |
| Six Charged in Alleged $1M Auto Insurance Claims Scheme in Massachusetts |
| 2/27/2024 10:29 AM (East News, auto body shop, Auto insurance fraud ring) |
| Six people have been indicted in connection with the alleged filing of fraudulent insurance claims through their auto body repair business in Everett, Massachusetts. Four of the defendants were arraigned this week in Middlesex Superior Court, while two others also … |
| Signers National, Acrisure Mark Expansions in Southeast |
| 2/27/2024 10:17 AM (Southeast News, acquisitions, Business Moves & Mergers, insurance business strategy, Markets/Coverages) |
| Signers National, the New York-based parent of several insurance companies, said it has acquired Ballantyne Insurance Group in Charlotte, North Carolina. Ballantyne specializes in coverage for human service organizations. It is own by William Bradley, who will stay on as … |
| Southern California Edison to Pay $80M to US Over 2017 Wildfire |
| 2/27/2024 10:12 AM (West News, lawsuit, settlement, Southern California Edison, wildfire) |
| Southern California Edison agreed to pay the United States $80 million to cover costs and damages incurred by the U.S. Forest Service from the 2017 Thomas wildfire in California’s Los Padres National Forecast, the Department of Justice said on Monday. … |
| IVF Clinic Insurance Affected by Ruling as Alabama Lawmakers Look for a Fix |
| 2/27/2024 9:45 AM (Southeast News, Alabama court rulings, directors and officers insurance, in vitro fertilization (IVF) insurance) |
| MONTGOMERY, Ala. (AP) — Lawmakers began scrambling for ways to protect Alabama in vitro fertilization services after multiple providers paused treatment in the wake of a state Supreme Court ruling that frozen embryos could be considered children under a state … |
| EU Lawmakers Approve Tougher Penalties for Environmental Crimes |
| 2/27/2024 9:36 AM (International & Reinsurance News, Environmental damages, environmental liabilities, environmental pollution liability, EU regulation) |
| The European Parliament on Tuesday approved tougher penalties for environmental crimes such as illegal timber trade, with offenses punishable by up to 10 years in prison and company directors prosecuted for corporate wrongdoing. “It is about time we fought cross-border … |
| Nvidia’s $70M Florida Supercomputer Hobbled by DeSantis Law |
| 2/27/2024 9:03 AM (Southeast News, AI in property-casualty insurance, AI regulation, artificial intelligence (AI), Florida Gov. Ron DeSantis, stupid laws) |
| (Bloomberg) — When Chris Malachowsky, a billionaire founder of chip giant Nvidia Corp., bankrolled one of the world’s biggest supercomputers at the University of Florida, Ron DeSantis predicted the machine would be a magnet for artificial intelligence talent. Almost four … |
| Employee Wins Workers’ Compensation Under Exception to ‘Coming-and-Going’ Bar |
| 2/27/2024 8:22 AM (East News, coming and going rule, Virginia Workers' Compensation Commission, workers' compensation) |
| An exception to the workers’ compensation “coming-and-going” rule applies where the employer provides the transportation even if the employer says there was no explicit agreement that he would supply rides. The exception can apply where there is credible evidence to … |
| Clyde & Co: M&A Activity to ‘Start to Increase Through 2024’ |
| 2/27/2024 7:00 AM (International & Reinsurance News, National News, Clyde & Co., Geopolitical Risks, insurance M&A, mergers and aquisitions, Research and Trends) |
| The number of worldwide mergers and acquisitions in the insurance sector in 2023 dropped to 346 in 2023, down from 449 in the previous year, according to a new report from Clyde & Co. But the global law firm believes … |
| Europe Automakers Will Not Challenge 2035 Fossil-Fuel Car Ban, Industry Group Says |
| 2/27/2024 3:41 AM (International & Reinsurance News, electric vehicles, EU climate change, greenhouse gas emissions, net zero emissions) |
| Europe’s automakers will not challenge the European Union’s decision to effectively ban fossil-fuel vehicles as of 2035 no matter who wins this year’s European parliamentary elections, the head of the continent’s auto industry group said on Monday. Speaking at a … |
| Damaged Subsea Cable in Red Sea Highlights Telecom Vulnerability |
| 2/27/2024 1:15 AM (International & Reinsurance News, energy insurance, Israel Hamas war, marine insurance, marine liability insurance, war risk insurance, war risks) |
| A subsea cable off the coast of Yemen that connects Europe to India has been damaged, and the telecommunications carrier that owns it must now figure out how to make underwater repairs in a war zone. Seacom Ltd., the South … |