INSURANCE NEWS

Sentry to Open Field Office in El Paso, Texas

Sentry Insurance announced it has selected El Paso, Texas, as the location of its newest field office. The office is set to open in early 2023 and will provide both personal and commercial lines claims and customer service support. Sentry …
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Two Killed in Explosion at Virginia Welding Business

VIRGINIA BEACH, Va. (AP) — Two people were killed Monday when a storage tank exploded at a Virginia welding business, a fire official said. Firefighters responded to Neptune Welding on Virginia Beach Boulevard just after 11 a.m., news outlets reported. …
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Hub Acquires Assets of Invensure Insurance Brokers in California

Hub International Limited acquired the assets of Invensure Insurance Brokers Inc. in Irvine, California. Robert Parent, CEO, and Charlene Richards, Executive Vice President, and the Invensure team will join Hub Los Angeles/Orange County. Invensure is a privately held insurance and …
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Hot Oldies, But Goodies in Collector Car Market for 2023: Hagerty

Classic car buyers in 2023 will want a diverse range of vehicles, including microcars, muscle cars, sport cars, and even exotics, according to specialty insurance provider, Hagerty. Hagerty released its 2023 U.S. Bull Market list, an annual collection of enthusiast …
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Fraudulent Funds Transfer, Ransomware Are Main Drivers of Cyber Loss: Corvus

According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations. FFT comprised 36% of of the company’s cyber claims – an all-time high – during the third quarter of 2022. This metric …
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Workers’ Comp Board Upheld in Banning Chiropractor Accused in Kickback Probe

The New York State Workers’ Compensation Board acted within its authority when it barred a chiropractor accused of taking kickbacks from treating injured workers, a state appellate court ruled Thursday. The Third Department of the Appellate Division affirmed the dismissal …
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North Carolina Attack Shows Fragility of U.S. Power Grids, Experts Say

The attacks that left two electrical substations in North Carolina riddled with gunfire and knocked out power to 45,000 homes and businesses underscores the fragility of US grids, experts said Monday. The FBI is investigating the assault that extensively damaged …
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Insurance Commissioner Urges Flexibility After Attacks Knocked Out Power in NC

North Carolina’s insurance commissioner has asked insurers to give policyholders affected by power outages grace periods on paying premiums and filing claims. “This criminal act has had a significant impact on nearly 45,000 residents,” Commissioner Mike Causey said in a …
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What to Know About an Unlikely Vector for Cyber Threats: Household Pets

Pets can make a great addition to the family, bringing positivity and warmth to a household, but the digital devices associated with them could be a different story. While every fifth pet owner uses some type of digital device to …
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E-Cigarette Maker Juul Labs Reaches Settlements With Approximately 10,000 Plaintiffs

E-cigarette maker Juul Labs on Tuesday said it has reached settlements with about 10,000 plaintiffs covering more than 5,000 cases in California. Juul did not disclose the settlement amount as part of the settlement and court process in the federal …
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Oil Tanker Clears Turkish Shipping Logjam With Letter From Russian Insurer: Document

A letter provided by Russian insurer Ingosstrakh enabled the first oil tanker to sail through Turkish waters in recent days after tougher regulations were imposed by Turkish authorities, a document showed. This has led already at least 20 oil tankers …
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COVID Infections Boost Heart-Related Deaths, Top Africa Health Insurer Says

Africa’s biggest health insurer said the number of heart-related deaths rose more than sixfold during the COVID-19 pandemic among the clients of one of its units. Discovery Employee Benefits, a unit of Johannesburg-based Discovery Ltd. that has more than half …
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