INSURANCE NEWS
SEC Ramps Up Massive-Hack Probe With Focus on Tech, Telecom Companies
The US Securities and Exchange Commission is asking tech and telecom companies how they handled the sprawling 2020 SolarWinds cyberattack, and drawing fire from the cybersecurity industry and big business for what they call overreach. The SEC, which sought the …
Is IRS Abusing its Authority in Micro-Captives Investigations?
Editor’s note: Captive insurance programs have blossomed in a number of Southern states in recent years, including Tennessee and North Carolina. But new questions have been raised about whether some micro-captives are used as tax shelters, and about the IRS …
NC High Court Strikes Down Compensability of Weight-Loss Surgery, Adopts Strict Test
The North Carolina Supreme Court has undone rulings by an appeals court and the state’s Industrial Commission that had granted workers’ compensation insurance payments for a woman’s weight-loss surgery. And in doing that, the high court formally adopted a multi-factor …
Participate in the Annual Young Agents Opinion Survey: Last Call
Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is searching for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. Tell us what you …
Six Presumed Dead After Bridge Collapse, as Port Disruptions Hit Cars to Coal
The 1.6 mile-long bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks. As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor Co., and General Motors Co., …
Houston to Sell $1.1 Billion Bonds for Firefighter Settlement
Houston plans to sell more than $1 billion in bonds to settle a firefighters’ pay dispute and the city’s chief financial officer is warning it will swell the annual budget shortfall by as much as 75%. The fourth-largest US city …
US Great Plains, Midwest Brace for More Snow: Weather Watch
A large storm is keeping the upper Great Plains and Midwest of the US stuck in winter. The region is expected to see an additional 2 to 4 inches (5 to 10 centimeters) of snowfall on Tuesday, according to a …
Midwest Builders’ Casualty Renames to Waypoint Mutual
Midwest Builders’ Casualty Mutual Company, a large, regional, specialized workers’ compensation insurance carrier, announced that they are changing their name to Waypoint Mutual effective April 1. Kansas City, Missouri-based Waypoint Mutual has served as a specialized niche workers’ compensation carrier …
Med Mal Trial Must Resume in Mysterious Case of Broken Hips at Florida Hospital
Call it the mystery of the broken hips. In 2017, 36-year-old Michael Barber attempted to take his own life by swallowing four types of medications. He then had a change of heart and called 9-1-1. He was conscious when emergency …
People Moves: JM Wilson Promotes Chalus to Transportation Underwriter
JM Wilson, headquartered in Portage, Michigan, named Eric Chalus as transportation underwriter. Chalus’s responsibilities include underwriting a new and renewal commercial transportation accounts, as well as maintaining relationships with carriers and independent insurance agents in Indiana and Kentucky. Chalus joined …
People Moves: Everest Promotes Williamson to Lead Global Re/Insurance Businesses
Everest Promotes Williamson to Lead Global Re/Insurance Businesses Everest Group Ltd., the Bermuda-based property, casualty, and specialty re/insurer, announced that Jim Williamson has been promoted to lead Everest’s reinsurance and insurance businesses. Williamson currently serves as Everest’s EVP, group chief …
Mexico’s Lawsuit Against Arizona Gun Dealers Can Proceed, US Judge Rules
A U.S. judge on Monday ruled that the Mexican government could move forward with a lawsuit accusing five Arizona gun dealers of participating in the trafficking of weapons and ammunition to drug cartels across the U.S.-Mexico border. U.S. District Judge …