Insurance
After Raising Premiums, Shedding Policies, Heritage Reports a Smaller Net Loss for Q3
Heritage Insurance Holdings, parent company of Florida’s 10th largest property insurance company, reported a net loss of $7.4 million for the third quarter of 2023, a significant improvement over last year after the carrier shook almost 74,000 policies from its …
Read More Berkshire Hathaway Reports $12.8B Loss as Investments Fall; Insurance Performed Well
Warren Buffett`s company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns – particularly the insurers – generally performed well. Berkshire Hathaway said Saturday that …
Read More Illinois Jury Awards $7.1M to Cooking Spray Burn Victim
CHICAGO (AP) – A jury in Illinois has ordered Chicago-based Conagra Brands to pay $7.1 million to a Pennsylvania woman who was badly injured in 2017 when a can of commercial brand cooking spray ignited in a kitchen at her …
Read More Ohio Law Applies in Insurance Dispute over Superfund Remediation Costs, Court Rules
Ohio law must be used to resolve an insurance dispute involving a polluted site in Michigan caused by manufacturing companies based in Ohio and Indiana, the Ohio Supreme Court ruled Wednesday. The 5-2 decision may force Travelers to turn over …
Read More Louisiana Courts Still Tidying Up After Storm of McClenny Moseley Lawsuits
In December 2022, before much was known about how McClenny Moseley & Associates in Houston was able to set up shop in New Orleans and sign-up thousands of Louisiana clients in less than a year, US District Court Judge James …
Read More AIG Continues to Take Cautious Approach to Excess D&O in North America
Though American International Group (AIG) saw a turnaround in underwriting income in the third quarter, driven largely by business in North America, the company’s chief executive said financial lines offset growth. AIG’s third quarter underwriting income within its General Insurance …
Read More Tennessee Settles Fired Vaccine Chief’s Lawsuit for $150,000
NASHVILLE, Tenn. (AP) — The state of Tennessee has agreed to pay $150,000 to settle a federal lawsuit by its former vaccine leader over her firing during the COVID-19 pandemic. The current and former health commissioners, and the state`s chief …
Read More Louisiana Contractor Gets Max Fine After Fatal Fall at Georgia Hyundai Plant Site
Federal safety regulators have brought the hammer down on a Louisiana contractor, deciding that the company failed to use correct safety equipment that would have prevented a fatal fall at an electric car plant construction site in Georgia. “The risks …
Read More Lemonade Expects to Be in the Black Within Three Years
While Lemonade is still burning cash and reported a net loss on the bottom line of its third-quarter income statement, the insurtech expects both situations to reverse by year-end 2026. The cash situation, in fact, will turn around by year-end …
Read More Sovereign Nations Insurance Agrees to Stop Selling Unauthorized Insurance in Washington
Sovereign Nations Insurance, LLC signed a settlement agreement with Washington Insurance Commissioner Mike Kreidler and has agreed to cease its operations in the state. Kreidler ordered Sovereign Nations to stop selling unauthorized insurance products in Washington last year, issuing a …
Read More