Insurance
Despite Hard Market, P/C Combined Ratio Forecast Near 104 for 2023
Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman. The hard market …
Read More Boeing Says ‘Cyber Incident’ Hit Parts Business After Ransom Threat
Boeing, one of the world’s largest defense and space contractors, said on Wednesday it was investigating a cyber incident that impacted elements of its parts and distribution business and cooperating with a law enforcement probe into it. Boeing acknowledged the …
Read More Elon Musk Asks Court to Reject SEC’s Bid to Make Him Testify in Twitter Probe
Elon Musk asked a federal judge on Nov. 2 not to force him to testify in the U.S. Securities and Exchange Commission’s probe into his $44 billion takeover of social media site Twitter. Musk filed the objections in San Francisco …
Read More Thousands of Black Women Claim Hair Relaxers Gave Them Cancer
Sheila Bush, a cosmetologist, was lounging in the recliner at her St. Louis-area home last winter when an advertisement from a law firm flashed up on her television screen, urging viewers to call a toll-free number if they or a …
Read More Poaching, Sexual Harassment, Sabotage? Alabama Insurance Agency Suits Air it Out
A dispute between two veteran west Alabama insurance agents has made it all the way to the state Supreme Court after three years of civil litigation, suggestions of criminal activity and claims of sexual harassment, assault and improper business practices. …
Read More 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 …
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