INSURANCE NEWS
Turkey Earthquake Tops 2023 Insurance Industry Losses Outside US: CRESTA
The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an industry loss of US$5.8 billion, the largest ever cat loss for the Turkish insurance market, according to CRESTA, the Zurich …
ReSource Pro Acquires Texas-Based Helix Agency Services
ReSource Pro, an operations provider to insurance organizations, announced its acquisition of Texas-based Helix Agency Services LLC, a provider of managed technology services for insurance agencies and brokers in the property and casualty marketplace. Helix’s capabilities include system administration, data …
Ohio Supreme Court Affirms Four-Year Deadline for Medical Malpractice Wrongful Death Claims
A divided Ohio Supreme Court on Thursday drew a bright line around the state’s statute of repose for medical malpractice claims, ruling in separate cases that an absolute four-year deadline to bring an action applies to both wrongful death claims …
Former Detroit Tigers Scouts Sue Team for Age Discrimination in Termination
DETROIT (AP) – A pair of former Detroit Tigers scouts sued the team, alleging age discrimination over their terminations after the 2020 season. Gary Pellant and Randall Johnson filed the suit Thursday in U.S. District Court in Detroit, claiming a …
Minnesota Woman Sues Dentist After 4 Root Canals, 8 Dental Crowns and 20 Fillings in a Single Visit
MINNEAPOLIS (AP) – A Minnesota woman has sued her dentist after receiving four root canals, eight dental crowns and 20 fillings in a single visit that she says led to her disfigurement. Kathleen Wilson filed the lawsuit last week in …
Georgia Man Charged with Depriving Liberty Mutual of $9M in Workers’ Comp Premiums
Georgia authorities last week announced the arrest of a contractor charged with underreporting payroll and defrauding Liberty Mutual Insurance Co. of more than $9 million in premiums. Jose Martinez, 56, of Grayson, was charged with insurance fraud after an investigation …
AM Best Downgrades Ratings of JRG Re; James River Group Gets Negative Outlook
AM Best has downgraded the financial strength rating of JRG Reinsurance Co. to “B++” (Good) from “A-” (Excellent) and its long-term issuer credit ratings to “bbb+” (Good) from “a-” (Excellent). Concurrently, AM Best has placed JRG Re’s credit ratings under …
‘Smash-and-Grab’ Robberies Fuel New Laws, but Critics Question the Need
Even before Virginia lawmakers passed a tough new law against organized retail crime earlier this year, Bradley Haywood, a public defender in Arlington, Virginia, challenged the rationale. The idea that retailers in the state had lost billions to organized theft …
Nevada Drivers Can Now Add Symbol Identifying Certain Medical Conditions on Driver License
Nevada drivers can now add a symbol that identifies certain medical conditions on their driver licenses, in an effort to improve safety on the roads, the Nevada Department of Motor Vehicles announced this month. The “Star of Life” symbol has …
Lithium-Ion Battery Fire on Ship off Alaska out After Several Days of Burning
After lithium-ion batteries burned in a large cargo ship`s hold for a number of days, the U.S. Coast Guard said the fire was out and directed the ship to anchor near Dutch Harbor, Alaska. The 19 crew members of the …
Real Estate Firm Bids $4.9M for Campus of Bankrupt West Virginia College
CHARLESTON, W.Va. (AP) — A federal bankruptcy court in West Virginia has set a hearing for next month on the potential sale of a defunct private university`s campus. A court-appointed trustee filed a motion Wednesday to sell the former Alderson …
Dyad Brand Launches to the P/C Insurance Market
Dyad, Inc., formerly XDimensional Technologies and I-Engineering, a provider of insurance software and services backed by Serent Capital, has launched today following XDimensional Technologies’ acquisition of I-Engineering in June 2023. These two experienced companies with proven track records are now …