INSURANCE NEWS
Fast Trains, Toxic Chemicals: Why Rail Safety Is Still a Problem
In the year since the derailment of a Norfolk Southern Inc. train brought national attention to US railroad safety, little has changed. Trains are still rolling through East Palestine, Ohio, at 50 miles per hour — the same speed allowed …
AM Best Downgrades Wisconsin’s Acuity
AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “aa” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Acuity, A Mutual Insurance Company (Acuity) based in Sheboygan, Wisconsin. The outlook …
Jensten Acquires UK Community Broker Melville Burbage
Jensten, the London-based independent insurance broking group, announced it has acquired independent community broker Melville Burbage. The deal, which is subject to regulatory approval, brings a dedicated team of 15 to Jensten, along with two additional offices and will contribute …
Markets/Coverages: Descartes Launches 1st Parametric Cyber Shutdown Cover in France
Descartes Insurance, the risk-carrying insurer formed in 2022 by climate-risk managing general agent Descartes Underwriting, has launched the first parametric cyber insurance for corporate clients in France. Described as the first insurance of its kind offered anywhere in the world, …
Ken Griffin Wants to Stop ‘Toxic Waste’ Casinos in South Florida
(Bloomberg) — Ken Griffin wants to exert more influence in Florida politics. One of his top priorities: stopping new casinos in his backyard. The state’s second-richest person is opposing a bill that would allow new gambling venues in South Florida …
Florida High Court Says Appraisals Can be Compelled Before Coverage Decided
The Florida Supreme Court has resolved a conflict between differing appeals court decisions, deciding that property insurers can be compelled to submit to the appraisal process long before causation, coverage and misrepresentation issues are settled in claims disputes. “For the …
Judge Rejects Virginia School System’s Request to Toss Student’s Sex Assault Lawsuit
A federal judge has rejected a request by Virginia’s largest school system to toss out a lawsuit accusing it of indifference to a middle school student’s claims of sexual abuse and harassment. The Fairfax County School Board filed a motion …
Southern California Topped List of Catalytic Converter Theft Claims
The Southern California regions of Los Angeles and Orange County are again the top spots for catalytic converter theft claims. The regions topped the list for the eighth consecutive quarter in a new report of markets for the most frequent …
Officials Say California Family Arraigned for Auto Insurance Fraud Filed 40-Plus Claims
Shannon Ninio, 60, of North Hills was arraigned for insurance fraud after a California Department of Insurance investigation found she and her husband, Moshe Ninio, allegedly stole customers’ personal information and used that information to file more than 40 fraudulent …
Texas Men Indicted in $70M University Athletic Billing Scheme
Four individuals, including two physicians, have been indicted in the Eastern District of Texas charged with federal violations involving a university athletic billing scheme, announced U.S. Attorney Damien M. Diggs. Mouzon Bass, III, also known as Muzzy Bass, 58, of …
People Moves: AXA XL Names Chia Cyber CUO, Americas; Chubb Appoints Gillston Head of North America Industry Practices; Sheckells to Lead Alera HR Team
AXA XL Names Chia Cyber as Chief Underwriting Officer in the Americas AXA XL named Michelle Chia as chief underwriting officer for cyber in the Americas. Based in New York, Chia assumes her new role on Feb. 12. Chia joins …
Texas Sues Five Cities Over Marijuana Amnesty Policies
Texas Attorney General Ken Paxton has launched lawsuits against the cities of Austin, San Marcos, Killeen, Elgin, and Denton for adopting amnesty and non-prosecution policies that violate Texas laws concerning marijuana possession and distribution. The five municipalities adopted ordinances or …