Michigan Doctor Faces Trial for Alleged $400K Disability Insurance Fraud
News Archives - Insurance Journal Apr 23, 2024 | 12:56 pmA Michigan doctor was bound over last week in the 48th District Court in Bloomfield Hills on charges stemming from an allegedly fraudulent disability insurance claim and subsequent years of receiving fraudulent payments, Michigan Attorney General Dana Nesse announced. She[…]
Read more...Ohio Manufacturer Fined $314K Following Fatal Workplace Incident
News Archives - Insurance Journal Apr 23, 2024 | 12:17 pmAn Ohio subsidiary of one of the world’s largest automotive suppliers could have prevented a 26-year-old employee in Franklin from being fatally crushed in October 2023 if the company had provided proper machine guarding. Investigators with the U.S. Department of[…]
Read more...People Moves: Arch Insurance International Promotes Valder to Deputy CEO; Carbon Underwriting Taps Everest Re’s Crocker as Active Underwriter
News Archives - Insurance Journal Apr 23, 2024 | 12:11 pmThis edition of International People Moves details appointments at Arch Insurance International and the MGA Carbon Underwriting. A summary of these new hires follow here. Arch Insurance International Promotes Valder to Deputy CEO Arch Insurance International has announced the appointment[…]
Read more...Baltimore to Court: ‘No Way’ Should Ship’s Liability for Bridge Collapse Be Limited
News Archives - Insurance Journal Apr 23, 2024 | 11:27 amThe city of Baltimore is fighting the attempt by the owner and operator of the cargo ship Dali that crashed into the Francis Scott Key Bridge to limit their liability under maritime law. “In no way should their liability be[…]
Read more...What to Know About New Rights for Pregnant Workers
News Archives - Insurance Journal Apr 23, 2024 | 10:48 amPregnant employees have the right to a wide range of accommodations under new federal regulations for enforcing the Pregnant Workers Fairness Act that supporters say could change workplace culture for millions of people. The Equal Employment Opportunity Commission, the agency[…]
Read more...Risk Perception Drops After Hurricanes: Study
News Archives - Insurance Journal Apr 23, 2024 | 10:18 amAs time passes after hurricanes, new analysis by Stanford University researchers shows perception of personal risk, including the likelihood of injury and home damage, decline. The findings suggest that programs and policies that aid households to think beyond stocking up[…]
Read more...Cape Coral Says FEMA Giving More Time on Questioned Rebuilding Info After Ian
News Archives - Insurance Journal Apr 23, 2024 | 09:57 amThe Federal Emergency Management Agency has granted the city of Cape Coral a 30-day extension to provide more information on rebuilding in the area after Hurricane Ian. The announcement came Monday, three weeks after FEMA notified local officials in southwest[…]
Read more...New York AG, Trump Attorneys Agree to Changes in $175M Bond in Civil Fraud Case
News Archives - Insurance Journal Apr 23, 2024 | 09:34 amLawyers for former President Donald Trump and the New York attorney general on Monday agreed to changes in the terms of the $175 million surety bond Trump secured with Knight Specialty Insurance Co. (KSIC). Attorney General Letitia James had objected[…]
Read more...Wildfires in Canada’s Oil Sands Region Prompts Evacuation Orders
News Archives - Insurance Journal Apr 23, 2024 | 09:23 amWildfires erupted across Canada’s main oil producing province of Alberta and an evacuation order was issued as the region braces for a repeat of last year’s unprecedented season. Members of the indigenous first nation community of Cold Lake Number 149,[…]
Read more...OPTIS: Insurance Agency M&A Down 18% in Q1 2024
News Archives - Insurance Journal Apr 23, 2024 | 09:18 amThe first quarter of 2024 was the slowest for insurance agency mergers and acquisitions since the middle of the pandemic, according to investment banking and financial firm OPTIS Partners. OPTIS Partners’ M&A database counted 155 announced insurance agency mergers and[…]
Read more...Savannah Ordinance: Vehicles Should be Locked When Guns Left Inside
News Archives - Insurance Journal Apr 23, 2024 | 09:10 amSAVANNAH, Ga. (AP) — Coastal Georgia’s largest city will require guns left in empty vehicles be securely stored, an effort that Savannah Mayor Van Johnson says is meant to cut down on gun thefts from unlocked cars. “We are not[…]
Read more...South Carolina Allows Out-of-State Adjusters After Massive Hail Storm
News Archives - Insurance Journal Apr 23, 2024 | 08:34 amIn the wake of last week’s widespread hail storm that damaged homes and automobiles, the South Carolina director of insurance said that emergency rules allow out-of-state adjusters and appraisers to work claims, as long as they are licensed in other[…]
Read more...W.R. Berkley Reports 50.4% Increase in Q1 Net Income
News Archives - Insurance Journal Apr 23, 2024 | 08:30 amFirst quarter net income at W.R. Berkley Corp. increased about 50% compared to the same period the prior year to about $442.5 million on pretax underwriting income growth of 31.8% to $309 million. The Greenwich, Connecticut-based commercial insurer started 2024[…]
Read more...Delaware High Court Hands Agency a New Shot at Malpractice Claim Against Law Firm
News Archives - Insurance Journal Apr 23, 2024 | 08:14 amA Delaware insurance agency has won another chance at proving a law firm was negligent in defending it in a non-compete dispute with another agency, a dispute it ended up settling for $1.2 million. The Delaware Supreme Court has reversed[…]
Read more...Munich Re Says Beating Target More Likely After Strong Quarter
News Archives - Insurance Journal Apr 23, 2024 | 07:18 amMunich Re said it might beat its profit target for the year after first-quarter profit jumped amid benign expenditures to cover major losses and a strong investment result. Net income rose to about €2.1 billion ($2.2 billion) in the three[…]
Read more...Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance
News Archives - Insurance Journal Apr 23, 2024 | 07:05 amLiberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first, building-specific, sensor-based, parametric earthquake re/insurance product to clients globally.[…]
Read more...Musk Decries Australian Court ‘Censorship’ of Terror Posts on X
News Archives - Insurance Journal Apr 23, 2024 | 06:07 amElon Musk lashed out at Australia’s prime minister on Tuesday after a court ordered his social media company X take down footage of an alleged terrorist attack in Sydney, and said the ruling meant any country could control “the entire[…]
Read more...Oklahoma Bus Driver Crashes Into Building After Being Punched by Passenger
News Archives - Insurance Journal Apr 23, 2024 | 05:00 amOKLAHOMA CITY (AP) — A man was arrested after being accused of punching an Oklahoma City bus driver and causing the bus to crash into a building. Oklahoma City police reported only minor injuries stemming from the Saturday wreck. Authorities[…]
Read more...Dubai Floods Expose Weaknesses to a Rapidly Changing Climate
News Archives - Insurance Journal Apr 23, 2024 | 04:53 amThe heavy rains that flooded Dubai last week halted air traffic, damaged buildings and streets — and left climate experts and common citizens asking whether one of the world’s hottest and driest cities should be better prepared for extreme storms.[…]
Read more...Republicans Weigh Rolling Back Anti-ESG Law They Passed
News Archives - Insurance Journal Apr 23, 2024 | 04:00 amLawmakers in Oklahoma are having second thoughts about anti-ESG legislation that limits which Wall Street banks local governments can do business with. A Republican-introduced bill that would narrow the scope of a state law that blacklisted financial firms for their[…]
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