Insurance
UK Says Energy Aid Will Cost Treasury Billions and Cut Inflation
Liz Truss’s UK government announced a sweeping package of measures to contain spiraling energy bills, seeking to ease a historic squeeze on the cost of living that’s likely to define her premiership. Truss’s plan would cap the average cost of …
Read More Former Florida Commissioner Warns Officials not to Shoot the Demotech Messenger
Former Florida Insurance Commissioner Kevin McCarty is criticizing current state regulators over their recent digs at the Demotech financial rating firm, after Demotech warned it would downgrade more than a dozen property insurers in the state. “Demotech is merely the …
Read More TWIA Committee to Consider General Manager Candidates at Upcoming Meeting
The Texas Windstorm Insurance Association announced that its Board of Directors will meet on Wednesday, September 14 at 10:00 a.m. CT to discuss candidate interviews and potential action on a hiring decision for its General Manager position. The TWIA Board’s …
Read More Federal Lawsuit Challenges Oklahoma Anti-Trans Bathroom Law
Civil rights groups filed a federal lawsuit on behalf of three transgender Oklahoma schoolchildren, arguing the state’s new law requiring students use only the bathroom of the sex listed on their birth certificate is unconstitutional. The lawsuit filed Tuesday in …
Read More Ohio Court: Insurer Has No Duty to Defend Drug Distributor Against Opioid Lawsuit
An insurer has no duty to defend a drug distributor against lawsuits filed by cities and counties that allege it failed to take proper steps to prevent abuse of prescription opioids, the Ohio Supreme Court ruled Wednesday. In a 5-2 …
Read More Lloyd’s Has Strong H1 Underwriting Profit, but Reports Overall Loss on Investment Hit
While Lloyd’s reported a strong underwriting profit during the first half and its best combined ratio in five years, similar to many insurers, it saw an overall loss as a result of its investments. Underwriting profits for the first six …
Read More Outlook Negative: AM Best Revises U.S. Personal Lines as Auto Results Weaken
AM Best said it held the belief that the U.S. personal auto line would right the ship following weakening performance in 2021, but headwinds such as inflation remain too strong and the rating agency revised its outlook for the segment …
Read More People With Disabilities Sue Over Blocked Sidewalks in Oregon
A group of Portland, Oregon, residents with disabilities has filed a lawsuit against the city, accusing it of failing to keep public sidewalks accessible. The class action lawsuit filed this week in federal court accuses the city of violating the …
Read More Water Use Drops in July as California Deals With Drought
Californians stepped up their water conservation in July, using 10.4% less than two years ago as the state struggles with a years-long drought, state water officials said. July marks the first full month that new conservation rules like a ban …
Read More California Company Says Machine Failure May Have Caused Wildfire
A wood products company said that it is investigating whether a fire that killed two people as it swept through a Northern California town was caused by the possible failure of a water-spraying machine used to cool ash at its …
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