Insurance
Insurance Losses From Sydney Floods Approach A$100M: ICA
Insurers have received 8,415 claims as a result of July’s floods in Sydney, carrying an initial estimated insurance price tag of A$97.9 million (US$66.8 million), according to the Insurance Council of Australia (ICA). The ICA said 84% of the claims …
Read More ECB Climate Stress Test Highlights $71 Billion Risk for Euro Zone Banks
A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone’s largest banks, the European Central Bank said on Friday. The ECB …
Read More Miller Acquires Tokyo-Based Broker Lead Insurance Services
Miller, the independent specialist re/insurance broker, announced the acquisition of Lead Insurance Services Ltd. Lead is based in Tokyo, Japan, and the acquisition cements a longstanding relationship between the two businesses. Founded in 1994, Lead specializes in hull, war risks …
Read More Georgia Insurance Office to Hold Hearing on Agency, Fire Safety Rule Changes
The Georgia Commissioner of Insurance will hold a hearing in August on a slew of proposed rule changes, affecting everything from fire safety at self-serve gas pumps and group homes to insurance agency license renewals. The hearing will be Aug. …
Read More Takeaways from Our Conversation on Insuring Cannabis Seeds
If you’re looking for a niche within a niche, insuring cannabis seeds be the answer. The U.S. Drug Enforcement Administration declared in a memo issued in April that cannabis seeds that don’t exceed the .3% THC limit do not fall …
Read More Bayer, BASF Win New Trial on $60 Million Damage Award in Weedkiller Lawsuit
Bayer and BASF have won a new trial on $60 million in punitive damages they were ordered to pay a Missouri peach farmer who said dicamba, a herbicide they produced, drifted onto his orchard and harmed his crops. The 8th …
Read More Woman Sentenced to 8 Years in California Medical Fraud Insurance Billing Scheme
A former Southern California woman who, along with her doctor husband, billed insurers $44 million for unnecessary cosmetic surgeries was sentenced to eight years in federal prison. Linda Morrow, 70, also was ordered to pay $14 million in restitution. She …
Read More People Moves: IMA Select in Colorado Names Harvath President; IOA Adds Armstrong
IMA Select in Colorado named Sandy Harvath president. Harvath has been with IMA Financial Group since 2003, most recently serving as the president of its Colorado market. She began her career at IMA as construction account manager and progressed to …
Read More Favorable Weather Aids in Fight Against California Wildfire
Favorable weather early Wednesday aided the fight against a wildfire in California’s Gold Country that has forced evacuations in two counties. The Electra Fire had burned 6.4 square miles of rural terrain but it was now 40% contained without any …
Read More Attorneys For Women Suing Deshaun Watson Seek NFL Investigation Documents
Attorneys for multiple women suing Deshaun Watson over allegations of sexual misconduct are seeking the documents from the NFL’s investigation into the former Houston Texans quarterback. According to the motion filed Friday by the women’s attorneys, Tony Buzbee and Cornelia …
Read More