Insurance
Florida Judge Slams Universal for ‘Stonewalling,’ Demands Answers From Company
Universal Property & Casualty Insurance Co. officials are discounting the significance of recent Florida judges’ rulings that have slammed the company for violating court orders, have forced Universal to default on lawsuits, have referred a Universal lawyer for disciplinary action, …
Read More Wisconsin Corn Mill Agrees to Pay $1.8M After Fatal Explosion
A Wisconsin milling company has agreed to pay an additional $1.8 million in penalties after a corn dust explosion that killed five workers and injured more than a dozen others at its Cambria plant in 2017, the federal Labor Department …
Read More With One Month to Go, Progressive’s Yearly Combined Ratio Hit Target of 96
Progressive Corp. has achieved its combined ratio goal of 96, according to its release of November and year-to-date results. On Friday, Progressive said November net income was $680.6 million and its combined ratio for the month was 91.1. Year-to-date net …
Read More CVC Completes Deal to Take Majority Investment in Dale Underwriting Partners
Dale Underwriting Partners, the trading name for Dale Managing Agency’s Lloyd’s Syndicate 1729, announced that CVC has completed its investment in Dale. The completion of the transaction follows approval from the UK Prudential Regulation Authority (PRA) and Lloyd’s for Dale’s …
Read More Initial Insured Losses for Windstorm Ciarán (aka Emir) Estimated at €1.9B: PERILS
Initial industry losses for extratropical windstorm Ciarán, also known as Emir, are estimated at €1.9 billion (US$2.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The storm affected France, Belgium, the United Kingdom, and …
Read More Missouri County Agrees to $1.2 Million Settlement Over Inmate Restraint Chair Death
Missouri`s second-largest county will pay a $1.2 million settlement to the parents of a 21-year-old man with mental health concerns who, according to a lawsuit, screamed “I can`t breathe” as he was subdued by jail staff before dying in a …
Read More Britain’s National Grid Drops China-Based Supplier Over Cyber Security Fears: FT
Britain’s National Grid has started removing components supplied by a unit of China-backed Nari Technology from the electricity transmission network over cyber security fears, the Financial Times reported on Sunday. The decision came in April after the utility sought advice …
Read More London Marine Insurers Widen High Risk Zone in Red Sea as Attacks Surge
London’s marine insurance market has widened the area in the Red Sea it deems as high risk amid a surge in attacks on commercial ships, according to a statement issued on Monday. Guidance from the Joint War Committee, which comprises …
Read More Activision Blizzard to Pay $54M to Settle California Workplace Claims
Activision Blizzard has agreed to pay about $54 million to settle discrimination claims brought by California’s civil rights agency on behalf of women employed by the video game maker. The settlement, which is subject to court approval, resolves allegations that …
Read More Mission Accomplished: Allstate Announces Calif., NY, NJ Rate Approvals
The departments of insurance in California, New York and New Jersey approved double-digit auto rate increases for Allstate in the three states that the carrier considered exiting in the absence of approvals, the Northbrook, Ill.-based carrier announced on Thursday. For …
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