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INSURANCE NEWS
National Beef Says Worst Is Over for US Cattle Cycle
Meatpacker National Beef Inc. said it is seeing a bottom in the US cattle industry’s downturn as it reported its highest margin in two years. “We do believe we are through the worst part of the cycle,” National Beef’s Chief …
Henderson Named as Interim CEO of Louisiana Citizens
Louisiana Insurance Commissioner Tim Temple has named Ron Henderson to serve as the interim CEO of Louisiana Citizens. Henderson, who currently serves as the Louisiana Department of Insurance’s (LDI) Deputy Commissioner for Consumer Advocacy, will begin his new role at …
Trucking Company Settles Pregnancy Discrimination Lawsuit
Wabash National Corp., a nationwide producer of semi-trailers and other commercial trucking equipment and headquartered in Lafayette, Indiana, will pay $50,000 and provide other relief to settle a pregnancy discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), …
Miami Contractor Charged with Underreporting Payroll to NorGuard by $1 Million
A Miami construction company owner has been charged with theft and workers’ compensation fraud after he allegedly underreported his firm’s payroll by almost $1 million, a deception that defrauded NorGuard Insurance of more than $100,000 in premiums. Israel Carballo, head …
Texas’ Next AG Vows ‘Tremendous Scrutiny’ of Tesla-SpaceX Deal
Texas Attorney General-elect Nathan Johnson vowed to take a close look at any potential merger between Elon Musk’s Space Exploration Technologies Corp. and Tesla Inc., warning of the perils of corporate concentration as the state’s two most valuable companies weigh …
GuideStone Becomes Insurance Agency for Churches and Ministries
GuideStone Financial Services was founded in 1918 to provide retirement assistance to retiring Southern Baptist ministers and their families, partly with the help of a $1 million gift from John D. Rockefeller and his son. Today, after decades in financial …
Former Hiscox CEO Masojada Becomes Lord Mayor of London
Bronek Masojada had a reputation as a tough leader in the insurance world he worked in for three decades. He’s now planning to bring that same rigor to his role as Lord Mayor of the City of London in a …
Insurer Denied Second Injury Fund Reimbursement for Late Notice
An insurer that pays full workers’ compensation benefits for an insured’s injured employee who has more than one employer is entitled to be reimbursed for the share made on behalf of the other employer. However, the workers’ compensation insurer must …
German Watchdog Warns Some Cooling Systems Remain Vulnerable to Hacking
Germany’s information security office BSI warned on Friday of ongoing vulnerabilities in some of Danish firm Danfoss’ industrial cooling appliances, following cyberattacks on refrigeration systems across Europe. The systems in question should be taken offline when possible or otherwise any …
With Dwindling Litigation, GEICO Says it Doesn’t Need 114 Legal Staffers in Florida
With less claims litigation following Florida’s 2022 insurance reform legislation, GEICO says it doesn’t need so many legal staffers, and plans to layoff 114 remote employees who report to its Lakeland, Florida, office. “The Company expects that employment separations will …
Publication of Air Crash Probes Across the Globe Fall Short, Safety Advocates Say
National agencies around the world have not published enough air accident reports to generate recommendations that could improve safety for the flying public, advocates said on the sidelines of an industry conference on Thursday. Final reports are published for only …
Hours-Long Microsoft Outage Disrupts Businesses, Governments Globally
A more than 12-hour outage of Microsoft Outlook and Teams crippled communications for businesses and governments globally on Friday, forcing some organizations to revert to fax machines and halting at least one bond repurchase in Europe. Microsoft said server issues …
