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INSURANCE NEWS
People Moves: Sunstar Hires Ashby as CIO
Sunstar Insurance Group announced it has hired Tod Ashby as Chief Information Officer, where he will lead the company’s technology strategy, enterprise infrastructure and systems modernization as Sunstar continues to build the scalable platform needed to support its growth. In …
‘Cockroaches in My Food’ Claim Leads to Insurance Fraud Charge
A Warren County, North Carolina man has been charged with insurance fraud for allegedly seeking an insurance payment from a restaurant where he claims he found cockroaches in his food. Investigators say it was one of four similar cockroach complaints …
Texas Mobilizes Ahead of Tropical Storm Edouard
Texas is mobilizing emergency response crews in anticipation of expected flash flooding from a now fully-formed tropical storm that forecasters predicted would hit the southeast part of the state on Tuesday. Federal forecasters elevated a tropical depression in the Gulf …
Markets/Coverages: Coalition Launches Cyber Insurance for Large UK Enterprises
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, has launched Active Cyber Insurance for Enterprises in the UK, a solution designed to meet the complex cyber risk needs of large organizations. Following the announcement of Coalition’s expanded …
Michigan Joins Settlement Against Mortgage Servicer Over ‘Force-Placed’ Insurance
The Michigan Department of Insurance and Financial Services (DIFS) joined 48 state financial regulatory agencies in reaching a $15.5 million settlement with mortgage servicer NewRez for improperly imposing “force-placed” insurance costs on borrowers who already had active homeowners insurance policies. …
Global Insured Catastrophe Losses Expected to Average $171 Billion Annually: Verisk
The insurance industry should be prepared to withstand $171 billion in insured catastrophe losses, on average in a given year, up $19 billion from a year ago, according to Verisk. In its highest estimate reported to date, the data analytics …
Family Dollars Stores Accused of Pregnancy Discrimination
Family Dollar Stores of North Carolina, LLC, a Matthews, North Carolina-headquartered retailer with a store in Greenville, violated federal law by refusing to provide a reasonable accommodation for an employee’s pregnancy-related limitations and then firing her, according to a lawsuit …
Markets/Coverages: Insurtech Foxquilt Launches E&O Product
Small business focused insurtech Foxquilt said it has launched an admitted errors & omissions product with a rollout to 10 states starting in September. E&O is Foxquilt’s second admitted product in the U.S. along with commercial general liability. “E&O is …
Blake Lively Gets $400,000 of $8M in Legal Fees From Film Fight with Justin Baldoni
Actress Blake Lively will get just over $400,000 of the $8 million she sought in legal costs from actor and director Justin Baldoni after they settled their fight over the production of their 2024 film “It Ends With Us,” a …
Guy Carpenter Rebranded as Marsh Re
Guy Carpenter, the reinsurance arm of Marsh, has been rebranded Marsh Re — retiring a name that has been in the insurance and reinsurance market for more than 100 years. “A new name for an expanded vision,” said the promotional …
LaGuardia Air Traffic Controllers Under Scrutiny Over Crash That Killed 2 Pilots
Two air traffic controllers could be fired for leaving the tower at New York’s LaGuardia Airport about an hour early on the night that an Air Canada jet smashed into a fire truck crossing the runway, killing both pilots, according …
Two Oil Supertankers Hit by Projectiles in Hormuz, Marisks Says
Two oil supertankers were struck by unknown projectiles in quick succession while transiting the Persian Gulf’s Strait of Hormuz chokepoint, maritime security consultant Marisks said. The very large crude carrier Sidr, run by Saudi Arabia’s Bahri shipping company, was hit …
