Insurance
Florida Windshield Bill Moves Closer to Law; Amendment Allows Managed Repair Plans
Bills that would ban assignment of benefits for windshield repairs moved a step closer to becoming law this week after they passed their third and final committee stops. A late amendment to the bills would bar insurance companies and agents …
Read More HP Must Face Shareholder Lawsuit Over Sales, Appeals Court Rules
A U.S. appeals court on Tuesday revived a lawsuit alleging HP Inc. defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016. The 9th U.S. Circuit Court of Appeals reversed a judge’s …
Read More Third Point’s Loeb Looks to Take Re/insurer SiriusPoint Private
Activist investor Daniel Loeb is looking to take insurance firm SiriusPoint Ltd. private, the founder of hedge fund Third Point said in a regulatory filing, sending the shares of the company up 13% in early trading on Wednesday. The billionaire …
Read More AccuWeather: Storms May Have Delayed California’s Wildfire Season
The massive rainfall and snow California received this winter will likely delay the upcoming wildfire season for the state – though all that moisture is unlikely to curtail it much if at all, a wildfire report out today shows. The …
Read More Re/insurance MGA Aspect Labs Opens for Business, Backed by Everest Re and AmTrust
Aspect Labs Ltd., the London-based re/insurance managing general agent, has officially opened its doors for business – targeting small-to-mid-market risks that are not big enough for Lloyd’s of London. Initially focusing on the direct and facultative property arena in the …
Read More Dog-Related Injuries Cost Insurers More Than $1 Billion in 2022
Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28% increase over 2021 even though the number of claims decreased last year, according to the Insurance Information Institute (Triple-I) and State Farm. There were 17,597 …
Read More U.S. Proposes 56% Vehicle Emissions Cut by 2032, Requiring Big EV Jump
The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade. …
Read More Man Admits Role in Catalytic Converter Theft Ring in Connecticut
An East Hartford man has pleaded guilty to participating in a stolen catalytic converter trafficking ring. Bryant Bermudez pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property and three counts of interstate transportation of stolen …
Read More How Insurers Can Harness the Power of AI
There is a lot of talk about the insurance industry being slower to adopt new technologies, such as artificial intelligence, but Counterpart CEO Tanner Hackett and Socotra CEO Dan Woods both agreed on the latest episode of The Insuring Cyber …
Read More Russia’s Largest Cargo Airline Ordered to Pay Aircraft Lessor BOC Aviation $406.2M
/A U.S. judge on Tuesday ordered Russia’s largest cargo airline to pay aircraft lessor BOC Aviation Ltd. $406.2 million after being declared in default on leases for three Boeing 747-8 freighters following Russia’s invasion of Ukraine. U.S. District Judge Lewis …
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