INSURANCE NEWS
Sam Bankman-Fried Will Not Face a Second Trial
U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange. In a letter filed on Friday night in federal court …
Top East Insurance Journal Fraud Stories of 2023
About 10% of property/casualty insurance losses can be traced to fraud, according to the industry’s Coalition Against Insurance Fraud. Insurance Journal publishes an average of 22 fraud stories a month. Insurance Journal reporting in 2023 showed that prosecutors in the …
How Brexit Hobbled Britain’s Race to Space
Britain’s push to become a “space superpower” is being undermined by political disarray and weak domestic investment, while showing how the nation needs international partners more than ever post-Brexit. In a case study of UK industrial strategy after leaving the …
Major Japan Quake Topples Buildings, Killing at Least 30 People
At least 30 people were killed and scores injured in a powerful earthquake that hit off the Noto Peninsula on Japan’s northwest coast, toppling buildings, buckling roads and triggering a blaze that ripped through a city. One of the places …
Top Insurance Journal EPLI Stories of 2023
A groundbreaking ruling, high-stakes lawsuits and a noteworthy protest — Insurance Journal’s reporting on the employment practices liability insurance landscape covered a lot of ground in 2023. Below is a selection of the most-viewed EPLI stories that appeared on the …
Brown & Brown Adds Caton-Hosey Agency in Florida
Florida-based Brown & Brown Insurance, ranked as the sixth-largest independent brokerage in the country, has acquired Caton-Hosey Insurance, a personal and business-lines agency in Port Orange, Florida. The agency was founded in 1948 and has been led by Rex Caton …
Allstate Sues Florida Pain Clinics, Alleging Millions in Fraudulent Billings
After an Allstate Insurance investigation alleged that a well-known Florida pain clinic had conspired with an injury law firm and had fraudulently billed the auto insurer for unnecessary surgeries and risky procedures, Allstate took the unusual step of striking an …
Top Insurance Journal Florida Stories of 2023
Weather, windshields and reform were the most-read Insurance Journal stories for Florida readers in 2023, continuing a trend seen in recent years as insureds, insurers and lawmakers continued to manage the property insurance crisis in the Sunshine State. Festival Canceled, …
Washington State’s New Safety Management Rules for Petroleum Workers
The Washington State Department of Labor & Industries filed a formal update to workplace safety rules designed to prevent catastrophic events the Tesoro explosion that killed seven workers in 2010 and the Equilon incident in 1998 that killed six. The …
New Jersey Provides Tools to Implement New Flood Risks Disclosure Law
New Jersey officials have introduced measures to implement flood risk disclosure legislation signed into law by Governor Phil Murphy last June. The measures include new property disclosure forms notifying buyers and tenants of a property’s known flood history and potential …
Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy Carpenter, the reinsurance business of Marsh McLennan. …
Mississippi Health Department Retesting Some Medical THC Products for Toxins
JACKSON, Miss. (AP) — The Mississippi Department of Health said Wednesday that “a large number” of medical marijuana products are on hold so they can be retested. The department first issued the hold on Dec. 21. A news release from …