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INSURANCE NEWS
New York Sues Polymarket, Says It Ran Illegal Gambling Operation
New York’s attorney general sued Polymarket on Thursday, escalating her battle against prediction markets, an industry that she says violates state laws against illegal gambling. Attorney General Letitia James filed her petition nearly two months after bringing a similar case …
Texas Woman Pleads Guilty to Setting House on Fire
A Wharton County, Texas woman pleaded guilty to setting a house fire in July and was sentenced to 10 years deferred adjudication, the Texas State Fire Marshall Office announced. The Wharton County Sheriff’s Office arrested Rylie Bean in February at …
Louisiana Fortified Homes Program Receives $20M Investment
Louisiana Governor Jeff Landry announced this week that Louisiana is investing an additional $20 million in Fortified homes, bringing the total amount invested in state Fortified projects this year to $100 million. Landry announced that $20 million from the U.S. …
Florida Widower Sues Publix, Says Recalled Blueberries Caused Wife’s Death in June
A south Florida woman died after eating frozen blueberries that were later the subject of a recall, the woman’s husband alleges in a lawsuit naming Publix supermarkets and a food distributor. Richard Mullins, of Largo, near St. Petersburg, and his …
AM Best Revises Outlook to Positive for Iowa’s FMH
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Farmers Mutual Hail Insurance Company of Iowa and its reinsured affiliate, …
Ohio Medical Facility Sued for Religious Discrimination
The U.S. Equal Employment Opportunity Commission alleges in a lawsuit that an Ohio medical facility violated federal law by subjecting a Jewish orthopedic surgeon to unfavorable terms and conditions of employment and firing him because of his religion and race. …
Singapore Court Strips Control of Radiant World From Founder
A Singapore court appointed KPMG restructuring executives to take charge of Radiant World on Thursday, granting an application by creditor Mizuho Bank Ltd., which has accused the trader of alleged fraud linked to iron ore receivables. The decision removes Radiant …
TN Funeral Director, North Carolina Man Charged in Insurance Fraud Investigations
A grand jury in Tennessee this week indicted a funeral home owner on insurance fraud, theft, elderly exploitation and abuse-of-a-corpse charges after a months-long probe by the Tennessee Bureau of Investigation. Chadrick Mundy, 37, was booked into jail in Fentress …
Hellman & Friedman Explores Sale of Applied Systems at Up to $10B, Sources Say
Private equity firm Hellman & Friedman is exploring a sale of insurance software provider Applied Systems that could value the company at up to $10 billion, according to people familiar with the matter. The private equity firm is working with …
Hurricane Watch Posted on Hawaii’s Big Island as Nolo Approaches
A hurricane watch has been issued for Hawaii’s Big Island as Tropical Storm Nolo strengthens south of the island chain. Nolo, with top winds of 40 miles (64 kilometers) per hour was 500 miles south of Honolulu and on a …
Online Insurance Marketplace Insurify Blocks Meta’s Personal AI Agent Muse
Early this year, Insurify caused a stir when it began what was thought to be the first insurance app with ChatGPT’s Open AI. In fact, the news momentarily shook the S&P 500 Insurance index. On Sept. 23, the online insurance …
People Moves: Taylor Returns to Plymouth Rock Assurance as President and CEO
Boston-based Plymouth Rock Assurance Corp. named Chris Taylor as president and chief executive officer. He will lead Plymouth Rock’s Independent Agency Group, effective October 12. Taylor brings personal lines leadership experience to the role, most recently as vice president and …
