Insurance
UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Start Jan. 1
The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the third quarter of this year. The publicly …
Read More Nicole’s Insured Losses Less than $1B, but Some Florida Homes Washed into the Sea
Insured losses from Hurricane Nicole, a category 1 storm that came ashore on Florida’s east coast last week, will be no more than $750 million, a fraction of the level of losses caused by Hurricane Ian six weeks earlier, CoreLogic …
Read More Jury Orders Filmmaker Haggis to Pay $7.5M in Rape Lawsuit by Publicist
A jury ordered Academy Award-winning filmmaker Paul Haggis Thursday to pay at least $7.5 million to a woman who accused him of rape in one of several (hash)MeToo-era cases that have put Hollywood notables’ behavior on trial this fall. Jurors …
Read More Jury Awards Massachusetts Police Detective $4M in Sex Discrimination Lawsuit
A jury has awarded more than $4 million to a former Massachusetts police detective who said in a lawsuit that she was subjected to demeaning and sexist comments at work and rebuked for speaking up about dangerous conduct by other …
Read More Report: Insurance Industry Spent $3.1B with California Diverse Businesses
New data from the California Department of Insurance suggests some progress in the department’s push for California’s $409 billion insurance industry to partner more with the diverse small businesses. The latest results from the California Insurance Diversity Survey for 2021 …
Read More Reuters: Russian Oil Cap Spurs Insurer Fears of Oil-Laden Ships Being Left at Sea
Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of Seven …
Read More Acrisure Buys New York Technology Services Firm Homefield IT
Insurance broker and real estate services firm Acrisure announced that it has acquired business technology firm Homefield IT, which will become part as part of Acrisure Cyber Services (ACS). Based in New York City, Homefield IT specializes in managed information …
Read More Voters Approve Recreational Marijuana in Two More States to Total 21
Voters approved recreational marijuana in Maryland and Missouri but rejected it in three other states, signaling support gradually growing for legalization even in conservative parts of the country. The results mean that 21 states have now approved marijuana’s recreational use. …
Read More Arkansas Voters Reject Legalizing Marijuana
LITTLE ROCK, Ark. (AP) – Arkansas voters have rejected a constitutional amendment that would have legalized recreational marijuana in the state. The proposal failed six years after Arkansas voters made the state the first in the Bible Belt to legalize …
Read More Moody’s: California Utilities Reduced Liability Following Catastrophic Wildfires
A new report shows California utilities have noticeably reduced their liability following catastrophic wildfires in the past that have been blamed on the utilities and have driven several massive lawsuits and financial challenges. The report out on Thursday from Moody’s …
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