Insurance
Orderly Runoff Didn’t Work. Florida’s United P&C Now Insolvent, Headed for Liquidation
Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, it was announced that UPC is officially broke and will soon be liquidated. …
Read More Washington Man Ordered to Repay $127K in Workers’ Comp Scam
A Washington contractor who claimed he was too injured to work despite reportedly running his own construction company was ordered to pay back the state more than $127,000. Daniel Joseph Lesieur, of Washougal, pleaded guilty to felony second-degree theft for …
Read More Nevada Supreme Court Upholds Temporary Ban on Insurers Using Credit Scores
The Nevada Supreme Court upheld the Nevada Division of Insurance’s temporary ban on using credit information to help set insurance rates. The division in 2020 imposed the temporary ban, concluding that the pandemic had a disproportionately negative impact on policyholders’ …
Read More Illinois Supreme Court: BIPA Claims Accrue With Each Scan
The Illinois Supreme Court ruled Friday that a separate claim accrues each time a business unlawfully scans or transmits an individual’s biometric identifier or information, a decision that could drive up class action settlements against repeated Biometric Information Privacy Act …
Read More QBE Insurance Announces $1.9 Billion Loss Portfolio Transfer With Enstar
QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group’s exposure to portfolio reserves totaling US$1.9 billion. “This portfolio includes reserves primarily relating to North America and international financial lines, discontinued programs and …
Read More Two More Louisiana Residents Sentenced in Staged Auto Accident Conspiracy
Two more Louisiana citizens were sentenced for conspiring to stage automobile accidents in order to defraud insurance and trucking companies. United States Attorney Duane A. Evans announced that John Diggs age 62, of Thibodaux, Louisiana, and James Williams, age 68, …
Read More Austin, Tx. City Manager Fired Over Widespread Power Outages
AUSTIN, Texas (AP) – Austin’s city manager was fired Wednesday in the wake of outrage over a slow and fumbled response to a winter storm power outage that left thousands of people without electricity for a week or longer in …
Read More PCF Insurance Secures $500M Investment
PCF Insurance Services, a top 20 U.S. insurance brokerage firm, today announced that it has secured a $500 million preferred equity investment in a transaction co-led by Carlyle’s Global Credit platform and private equity firm HGGC, an existing minority investor. …
Read More Jeers, Boos From Ohio Residents Enraged by Toxic Train Spill
EAST PALESTINE, Ohio (AP) – Residents of the Ohio village upended by a freight train derailment packed a gymnasium demanding reassurances after toxic chemicals spilled and burned in a huge plume over their homes and businesses. “I have three grandbabies,” …
Read More Appeals Court Blocks California Ban on Mandatory Arbitration for Workers
A U.S. appeals court on Wednesday blocked a California law that prohibited employers from requiring their workers to resolve legal disputes in private arbitration, ruling that it conflicts with a federal arbitration statute. The 2-1 ruling by a three-judge panel …
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