Insurance
3M Faces $100 Billion in Losses From Veterans’ Earplug Suits, Expert Says
3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the industrial conglomerate. Initial results from …
Read More Weston’s Texas, Louisiana Policies to be Canceled September 7
Weston Property & Casualty Insurance Co. policies in Texas and Louisiana will be canceled on September 7 after the Florida-based insurer was ordered to end operations in early August after going insolvent. The Texas Department of Insurance (TDI) said Weston …
Read More Pair of Texas Companies Earn Safety Awards
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) renewed two Texas companies’ Lone Star Safety Awards for their exemplary workplace safety programs and low rates of work-related injuries and illnesses. The companies include Pond and Company in Pasadena …
Read More P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist: Triple-I, Milliman
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a hard P/C market are expected …
Read More Packaging Manufacturer Faces $178K in Fines After Ohio Worker’s Burns
A federal workplace safety investigation into how a 25-year-old manufacturing worker suffered serious arm burns in February that required hospitalization, determined his Ohio employer failed to follow required federal safety standards that might have prevented the incident. The U.S. Department …
Read More South Dakota State-Licensed Medical Marijuana Store Opens This Week
Patients enrolled in South Dakota’s medical marijuana program will have their first opportunity to buy cannabis from a state-licensed facility this week. It has been a year and a-half since state voters overwhelmingly approved medical marijuana. The co-owner of one …
Read More Applied Systems Acquires Tarmika
Applied Systems said it has acquired Tarmika, a leading commercial lines rating solution that streamlines small business insurance. This complementary acquisition will expand Applied’s commercial quoting and Ivans’ distribution connectivity solutions to create a more valuable and digital distribution experience …
Read More Q2 Commercial P/C Premiums Up 6.1%: CIAB
The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium increase across all …
Read More People Moves: Senior Roles at Ryan Specialty Underwriting Managers; Snyder Named President U.S. Insurance at Argo; Kovach Joins Concert
Ryan Specialty Appoints New Senior Leadership within Underwriting Managers Specialty Chicago-based Ryan Specialty has made appointments to three new senior leadership roles within the Underwriting Managers specialty. Brian Lillis, Chief Operating Officer, has been with Ryan Specialty Underwriting Managers for …
Read More Two Radiation Incidents Investigated at Oregon Hospital
The U.S. Nuclear Regulatory Commission has issued two “event notifications” for incidents involving Salem Hospital’s radiation oncology department earlier this year. One incident involved hospital employees, while the other involved patients. Investigations to-date have shown no injuries, the Statesman Journal …
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