Insurance
Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and Casualty Insurance Association says in a …
Read More New Weed Products and Firms Mean Concerns, Opportunities for Underwriters
The legalized cannabis industry is rapidly evolving, with new, chemically concocted variants popping up almost monthly. On top of that, management of marijuana and hemp businesses is going through changes, with “weed cowboys” clashing with button-down capitalists – not to …
Read More Buffalo Diocese Agrees to Clergy Oversight Plan as Part of Abuse Settlement With State
The Roman Catholic Diocese of Buffalo has agreed to strengthen its oversight of clergy accused of sexual misconduct to settle a lawsuit brought by New York’s attorney general alleging the church mishandled abuse claims and protected predatory priests, authorities said …
Read More Rhode Island Bus Service, Health Insurer Sued Over Data Breach Victims Sue
Two people whose personal information was compromised in a data breach at Rhode Island’s public bus service that affected about 22,000 people sued the agency and a health insurer this week seeking monetary damages and answers. The class-action suit filed …
Read More TIWA Board to Review 2023 Budget in November Meeting
The Texas Windstorm Insurance Association (TWIA) Board of Directors will hold an interim meeting on Wednesday, November 2 at 10:00 a.m. CT to review preliminary information about the Association’s 2023 budget. The meeting agenda available on TWIA‘s website.TWIA staff will …
Read More Texas Uber Drivers Victimized by Data Breach Receive $4.2M
Texas Attorney General Ken Paxton announced that his office has completed its distribution of $4.2 million in redress payments to approximately 42,000 Texans whose personal information was compromised in a 2016 data breach at ride share company Uber Technologies, Inc. …
Read More Missouri Town ‘Devastated’ by Wildfire
WOOLDRIDGE, Mo. (AP) – Roughly half of a small Missouri town burned Saturday after a wildfire spread quickly from a farm field and destroyed or heavily damaged 23 buildings, officials said. No one died and only one person was taken …
Read More New York’s High Court Upholds Insurance Regulation Opposed by Agents
New York insurance agents have lost their bid to overturn a state consumer regulation governing the sale of life insurance and annuity products that they believe is vague and exceeds the state insurance regulator’s authority. The Regulation 187 that agents …
Read More People Moves: Hazelton to Head Chubb N.A. Industry Practices; Bentele President of Nexus Specialty Casualty
Chubb Appoints Bill Hazelton Head of North America Industry Practices Chubb named Bill Hazelton executive vice president, head of North America industry practices. He will lead the company’s efforts to enhance delivery of comprehensive industry-focused insurance coverages, risk engineering and …
Read More DOJ Antitrust Losses in Court Are Seen as Setback for Biden’s Merger Crackdown
In the span of just a month, federal judges rejected the US Justice Department’s attempts to block three mergers in the health technology, agriculture and defense contracting industries. The agency is considering appeals – and points out it’s racked up …
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