INSURANCE NEWS
650,000 Residential Properties Hit by Severe Hail in Central US Storms
A severe convective storm system spawned softball-sized hail and destructive tornadoes across the central U.S. last week, leaving meteorologists to speculate if warmer winter weather is behind the storm outbreak. As parts of the Midwest recover from the March 13-14 …
Shadow-Fleet Oil Tanker Damaged in Collision Near Denmark
A tanker from the shadow fleet of ships assembled to carry Russian oil was involved in a collision near Denmark, casting fresh light on the risks vessels with unknown ownership pose to the world’s oceans. The incident, which involved the …
Markets/Coverages: CFC Introduces Carbon Delivery Insurance Policy
Specialty insurer CFC announced its entry in the carbon insurance market with the launch of a groundbreaking new product. CFC said its new carbon delivery insurance is the first to cover both the physical and political risks faced by businesses …
Expert: ‘Unceasing Onslaught’ of Legal Ads Worth Insurance Industry Attention
Often alarming, misleading or just plain annoying — when mass tort lawsuit advertisements pop on a TV screen, many consumers instinctually reach for the remote. An expert believes that the ads are worth your attention. “Especially for those in the …
J.D. Power: Homeowners Insurance Customer Satisfaction at 7-Year Low
With 28 catastrophic weather events in 2023 causing nearly $93 billion in damage, customer service satisfaction plunged to a seven year low, according to the latest J.D. Power 2024 U.S. Property Claims Satisfaction Study released today. More extreme weather events …
Florida High Court Ruling Could Cut Damages for Bars Serving Booze to Minors
Insurers in Florida can can contemplate potentially lower loss costs on liquor liability policies after a recent state Supreme Court ruling that clarified when bars and restaurants can be held partially versus completely liable for some alcohol-related injuries. The court, …
Supreme Court Seems to Favor NRA in Free Speech Case Against Insurance Regulator
Supreme Court justices appeared receptive Monday to National Rifle Association claims that a former New York state official violated its free-speech rights by pressuring banks and insurance companies to blacklist the group after the deadly school shooting in Parkland, Florida. …
Member of Major Catalytic Converter Theft Crew Sentenced to More Than Three Years
A Springfield, Massachusetts man was sentenced last week in federal court in Boston for his role in a regional organized theft crew that stole catalytic converters from nearly 500 vehicles, robbed jewelry stores and stole banks automatic teller machines. Nicolas …
Higginbotham Expands Oklahoma Presence With Glenn Harris & Associates
Higginbotham announced it has doubled its presence in Oklahoma’s by adding Glenn Harris & Associates. Glenn Harris & Associates of Oklahoma City was founded by Principal Glenn S. Harris in 1987. The firm provides customers with one-on-one service and education …
Midwest Tornado Outbreak Linked to Record Winter Warmth
This winter’s record warmth provided the key ingredient for a Midwest outbreak of deadly tornadoes and damaging gorilla hail that hit parts of the Midwest last Wednesday and Thursday, tornado experts said. At least three people were killed in Thursday’s …
Boundless Rider Expands Motorcycle, Powersport Coverage to Illinois
Boundless Rider, a new insurtech focused on insurance for motorcycle and powersport riders, announced that policy coverage is available for purchase in Illinois. Owners of on-road and off-road motorcycles, ATVs, UTVs, snowmobiles, scooters, and mopeds can now obtain coverage through …
NTSB Investigates Fatal Crash Involving Ford Electric Vehicle in San Antonio
The National Transportation Safety Board is investigating a fatal crash in San Antonio, Texas, involving a Ford electric vehicle that may have been using a partially automated driving system. The agency said in a statement Friday that a team of …