Insurance
Q1 Net Income Up 21% at The Hartford but Personal Lines Unprofitable
The Hartford Financial Services reported first quarter 2023 net income of $535 million, nearly a 21% increase over $443 million a year ago. In the company’s property/casualty segments, results were carried by net income of $421 million in commercial lines …
Read More What Are the Green Guides and Can They Stamp Out ‘Greenwashing’?
The U.S. Federal Trade Commission (FTC) will weigh major changes for the first time in a decade to its Green Guides, a set of standards for companies making environmental claims, as it sifts through thousands of comments it received on …
Read More Rising Oil Prices Complicate Russian Price Cap Checks for Insurers
Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes. Since December, buyers of Russian crude oil have only been allowed to access financial …
Read More Extreme Weather Is Nearly Universal Experience: Poll
An overwhelming majority of people in the U.S. say they have recently experienced an extreme weather event, a new poll shows, and most of them attribute that to climate change. But even as people across the country joined last Saturday …
Read More Florida Insureds Can’t Force Interest on Late Claims Payments, Courts Say in Class Actions
Two back-to-back federal court decisions may have dealt a lethal blow to recent proposed class actions that sought interest on property insurers’ late claims payments. But the rulings have left some insureds and their attorneys feeling that they’re seeing another …
Read More Virginia School: As Violence Is Workplace Condition, Workers’ Comp Bars $40M Suit by Teacher Shot by 6-Year Old
The Newport News public school board says the $40 million lawsuit filed against it by the teacher who was shot by a six-year old is barred by the state’s workers’ compensation law that is the exclusive remedy for workplace injuries. …
Read More Blast at Chicago Area Petroleum Plant Leaves 1 Dead, 1 Injured
LEMONT, Ill. (AP) – An explosion and fire at a suburban Chicago petroleum refinery killed one person and injured a second Tuesday morning, authorities said. The Will County Sheriff’s Office said one person was confirmed dead and a second was …
Read More Federal Authorities File Charges in Michigan Over Diesel Engine Tampering
GRAND RAPIDS, Mich. (AP) – Federal authorities in Michigan filed charges Wednesday against nine people in a scheme to defeat air-pollution rules by tampering with software and hardware in heavy-duty diesel engines. The nine agreed to plead guilty, along with …
Read More Louisiana Lawmakers Kill Bill to Decriminalize Marijuana
BATON ROUGE, La. (AP) – A bill to decriminalize marijuana in Louisiana was short- lived, swiftly dying in committee Tuesday before ever reaching the House floor for debate this legislative session. Democratic state Rep. Candace Newell briefly argued that her …
Read More Texas Contractor Fined $257K After Fatal Trench Collapse
A Houston-area contractor’s repeated failure to follow federal workplace safety procedures during excavation operations contributed to a worker’s death near Manvel in October 2022, a federal workplace safety investigation has found. The U.S. Department of Labor’s Occupational Safety and Health …
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