Mon, 24 Feb 2020 10:32:16 +0000
The world’s financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new report shows. The …
Mon, 24 Feb 2020 10:11:12 +0000
Australia’s prudential regulator said on Monday it was looking to better understand the financial risks of climate change and would begin undertaking deeper assessments of the industry’s vulnerabilities to improve resilience. The Australian Prudential ...
Mon, 24 Feb 2020 09:55:44 +0000
The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he withheld information about potential money laundering that subsequently destroyed the lender’s market value. Deminor, a Brussel...
Mon, 24 Feb 2020 06:00:39 +0000
The parents of a 6-year-old southern Illinois girl are suing local school officials, alleging that their daughter was sexually assaulted by another kindergartner during recess. The lawsuit names the Edwardsville School District 7 as the defendant and a...
Mon, 24 Feb 2020 06:00:24 +0000
In his firm’s annual report released this weekend, Berkshire Hathaway CEO Warren Buffett included a side note on one of the companies his conglomerate bought in 2011 for $9 billion, a company called Lubrizol. Lubrizol is an Ohio-based global specialty …
Mon, 24 Feb 2020 06:00:23 +0000
Fort Collins, Colo. has reached a $125,000 settlement with a woman who sued the city after an off-duty police officer pinned her to the ground outside her apartment complex. The Coloradoan reports a city spokeswoman confirmed the settlement with Kimber...
Mon, 24 Feb 2020 06:00:10 +0000
Arizona leads the nation in auto glass claims despite being 14th in total population, according to the National Insurance Crime Bureau. Insurance industry data shows that between 2015 and 2019, 10% of the nation’s auto glass claims were in Arizona. …
Mon, 24 Feb 2020 05:44:16 +0000
Some South Carolina residents deliberately caused hit-and-run accidents while in Uber rides as part of an insurance scam, a car insurance company says in a lawsuit. The lawsuit from James River Insurance says 52 people were involved in an insurance …
Mon, 24 Feb 2020 05:42:06 +0000
After years of setbacks, medical marijuana advocates cleared a historic hurdle Thursday when the Kentucky House voted to legalize the use of cannabis for medical purposes. The measure won House passage on a 65-30 vote after an emotional debate, sending …
Mon, 24 Feb 2020 05:35:54 +0000
Four people in Florida have been arrested on charges of racketeering and conspiracy to commit racketeering for allegedly staging automobile accidents in order to file nearly $230,000 in fraudulent insurance claims, according to a statement from the Flo...
Fri, 21 Feb 2020 17:38:50 +0000
Appalachian Underwriters, Inc. has hired Carol Ashman as its new external marketing representative for Western Florida. She will focus on building agent relationships in the Florida Panhandle. She comes to AUI with 16 years in the retail agency side of …
Fri, 21 Feb 2020 17:34:22 +0000
Some of the industry’s largest pharmaceutical companies, including Pfizer Inc. and Eli Lilly and Co., have developed a blockchain-based system to track prescription drugs across the supply chain to better halt the flow of counterfeit medicines, company...
Fri, 21 Feb 2020 17:09:23 +0000
Healthcare liability insurer ProAssurance Corp. has agreed to acquire medical professional liability insurer NORCAL Mutual Insurance Co. following NORCAL’s demutualization in a $450 million transaction. Based on available estimates of premium, the comb...
Fri, 21 Feb 2020 16:27:04 +0000
Massachusetts’ new hands-free driving law takes effect this Sunday, February 23rd. The law, signed by Governor Charlie Baker in November, is intended to reduce the number of distracted driving injuries and deaths in the state. It imposes penalties enfo...
Fri, 21 Feb 2020 15:52:04 +0000
Mark Friedlander and Kris Maccini have been appointed to senior communications positions at the Insurance Information Institute to broaden the organization’s traditional and social media operations. III’s Florida communications consultant since July 20...
Fri, 21 Feb 2020 15:46:00 +0000
Amerisafe Inc. on Wednesday reported fourth-quarter earnings of $34 million. The Deridder, Louisiana-based company said it had profit of $1.76 per share. Earnings, adjusted for investment gains, were $1.70 per share. The results topped Wall Street expe...
Fri, 21 Feb 2020 15:44:15 +0000
A federal judge has ruled the U.S. Army Corps of Engineers isn’t liable to damage to thousands of Houston homes that were inundated by two federally owned reservoirs in the days following Hurricane Harvey because they would have flooded regardless. …
Fri, 21 Feb 2020 15:43:17 +0000
U.S. legislation will be introduced in the coming weeks that could hurt technology companies’ ability to offer end-to-end encryption, two sources with knowledge of the matter said, and it aims to curb the distribution of child sexual abuse material on …
Fri, 21 Feb 2020 15:40:54 +0000
With the threat of spring flooding looming, Minnesota Gov. Tim Walz has asked lawmakers to approve $30 million to replenish a state disaster aid fund that was drained by a string of disasters last year. Walz said an updated flood …
Fri, 21 Feb 2020 15:38:16 +0000
State Auto Financial Corp. reported fourth-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier. The Columbus, Ohio-based company said it had net income of 72 cents per share. Earnings, adjusted for investment …
Fri, 21 Feb 2020 15:24:42 +0000
A fund that offers only fire insurance to California residents in wildfire-prone areas can’t be required to provide coverage for other hazards such as flooding or theft, a judge ruled this week. Superior Court Judge Mary Strobel this week issued …
Fri, 21 Feb 2020 15:16:02 +0000
New Mexico Attorney General Hector Balderas has filed a lawsuit against Google LLC alleging the tech giant is illegally collecting personal information from New Mexico school children under 13 in violation of the Federal Children’s Online Privacy Prote...
Fri, 21 Feb 2020 15:07:32 +0000
U.S. workplaces have gotten a lot safer over the course of the past century. In 1913, the Bureau of Labor Statistics estimated that there were 23,000 “industrial deaths,” or 61 for every 100,000 workers. In 2018, the number of what …
Fri, 21 Feb 2020 13:44:40 +0000
S&P Global Ratings said that even though Swiss Re performed materially below expectation for its 2019 earnings, the ratings agency expects the group to maintain its risk-based capital above the “AA” level, which supports the “AA-” long-term ratings and...
Fri, 21 Feb 2020 12:44:01 +0000
Axel Theis (62), member of the board of Allianz SE responsible for insurance in German-speaking countries and Central and Eastern Europe, is retiring at his own request on March 31, 2020 after more than 33 years at Allianz. The Allianz …
Fri, 21 Feb 2020 12:12:50 +0000
A mortgage company staffer who created hundreds of fraudulent wire transfers to steal roughly $2 million from the firm has been sentenced to nearly four years in federal prison. Dilcia Mercedes of Camden, N.J., will also have to serve three …
Fri, 21 Feb 2020 12:08:48 +0000
A lawsuit has been settled between Virginia Tech and a former student who was accused of overseeing a ceremony that violated the school’s hazing policy. The federal lawsuit filed last month “has been resolved to the mutual satisfaction of both …
Fri, 21 Feb 2020 11:55:51 +0000
New York State Inspector General Letizia Tagliafierro has announced the arrest and arraignment of an Oswego County court stenographer who routinely added zeros to billing invoices to insurance carrier clients over the course of several years, resulting...
Fri, 21 Feb 2020 11:42:19 +0000
SterlingRisk Insurance, a Woodbury, N.Y.-based independently owned insurance brokerage, has hired Kaitlin Friedman as alternative market leader. A licensed property and casualty insurance broker, Friedman also provides wholesale support to the Sterling...
Fri, 21 Feb 2020 10:52:36 +0000
Losses from storms Ciara and Dennis, which brought strong winds, torrential rain and widespread flooding to the UK, will increase pressure on UK household insurers’ profits in 2020, said Fitch Ratings. While the claims are unlikely to exceed £500 mill...