Insurance
FTX Celebrity Promoters Say Crypto Investors Cannot Sue Over Accounts
Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing …
Read More Church Tried to Exclude Named Storms, But Appeals Court Says Coverage Due Anyway
In 2015, the Shilo Christian Center in Melbourne, Florida, cut its property insurance premiums in half by asking its insurer to drop coverage for named windstorms. Hurricane Matthew struck the next year, ripping the roof of the church and unleashing …
Read More Florida Insurers Facing a New 1% Assessment on Premiums for Insolvent Insurer Claims
Florida property insurers are preparing for another assessment on premiums to help the Florida Insurance Guaranty Association fund outstanding claims from an insolvent insurer. The 1% emergency assessment on all premium for new and renewing policies, approved this month by …
Read More Shelter-in-Place Order Lifted After Georgia Chemical Plant Fire Extinguished
Emergency crews extinguished a fire at a Georgia chemical plant shortly after 10 p.m. Saturday, allowing officials to lift a shelter-in-place order issued in the afternoon when the fire broke out for the second time in the day. The fire …
Read More Breaking it Down: What Florida Insurers Need to Know about Bad Faith After Tort Reform
Bad-faith litigation is a hot topic in Florida following the passage of the new tort-reform measure known as House Bill 837. However, even in the face of reasonable legislative changes, it remains important for insurers and their adjusters to be …
Read More People Moves: Sompo Int’l Promotes Hyland to President of North America Reinsurance, Succeeding Hanke; Kegel Appointed Managing Director, DUAL Benelux
Sompo Int’l Promotes Hyland to President of N. America Reinsurance, Succeeding Hanke Sompo International, the Bermuda-based provider of commercial and consumer property and casualty re/insurance, announced the promotion of Margaret Hyland to president of North America Reinsurance. Hyland takes over …
Read More Kansas Steakhouse to Pay $55K Over Pregnancy Discrimination Suit
A.V.I. Sea Bar & Chophouse restaurant, a Wichita, Kansas steakhouse with an attached catering service known as Corporate Caterers of Wichita, has agreed to pay $55,000 to a former employee and furnish other relief to settle an employment discrimination lawsuit …
Read More Insurers Balk at Coverage for Firm Accused of Delivering Damaging Biofuel to Customers
Two Crum & Forster subsidiaries have asked a federal court in Massachusetts to declare that they have no duty to provide coverage to an insured heating oil company over its delivery of oil diluted with high quantities of biodiesel that …
Read More Louisiana Lost $82M of Natural Gas Due to Leaks, Report Says
NEW ORLEANS (AP) – Louisiana lost more than $82 million worth of natural gas in 2019 due to leaks, venting or flaring at production sites, according to a study released Thursday by an environmental group and government watchdog organizations. The …
Read More Global Insured Losses Estimated at $15B in Q1, With Economic Price Tag of $63B: Aon
Private and public insurance entities saw an estimated $15 billion of global losses during the first quarter – close to both average and median losses of the last 10 years, according to Aon’s Q1 Global Catastrophe Recap Report. However, potential …
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