INSURANCE NEWS
Japan Orders 4 Non-Life Insurers to End Anti-Competitive Business Practices
Japan ordered four major non-life insurance companies to improve business practices in connection with anti-competitive activity that aimed to keep premiums high, Finance Minister Shunichi Suzuki said on Tuesday. The order was issued to Aioi Nissay Dowa Insurance, Sompo Japan …
Into the Surge in High-Stakes Verdicts: A Deep Dive Into Nuclear Verdicts
In recent years, the insurance industry has been grappling with a growing concern: the surge in what is now termed “nuclear verdicts.” As the name suggests, these are not just ordinary legal outcomes. These verdicts are particularly high jury awards …
Litigation Abuse, Regulation, Hard Market Among Insurance Trades’ Priorities for 2024
Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2024? Here are the responses we received: In the coming year, the American Property Casualty Insurance Association …
Apple to Fight Watch Ban in Court After White House Declines to Act
Apple Inc., seeking to defend a business that generates roughly $17 billion a year, is appealing a US sales ban of its smartwatches after the White House refused to overturn the measure. Apple will challenge the ban — imposed by …
Tesla Recalls 120,000 Vehicles Over Doors That Could Unlock in Crash
Tesla is recalling just over 120,000 Model S and Model X vehicles in the United States over the risk of doors being unlocked and opening during a crash, the automaker said Friday. Tesla released an over-the-air (OTA) software update for …
Tennessee Officials Sue BlackRock for ‘Misleading’ ESG Strategy
(Bloomberg) — The state of Tennessee sued BlackRock Inc. for allegedly breaching consumer protection laws by making “misleading” statements about its ESG investment strategy. State Attorney General Jonathan Skrmetti said BlackRock funds that don’t take into account ESG factors are …
Police Searching for Suspect in Deadly Florida Mall Shooting
OCALA, Fla. (AP) — Authorities in central Florida issued an arrest warrant Sunday for a 39-year-old man accused of fatally shooting another man at a shopping mall two days before Christmas in which police say the victim was “targeted.” As …
Oakbridge Acquires Akin Insurance Agency in Georgia
Oakbridge Insurance Agency, calling itself one of the largest independent agencies with partnerships around the country, has acquired another Georgia company. Akin Insurance Agency, with offices in Vienna and Cordele, Georgia, specializes in agribusiness insurance and has been a family-run …
Viewpoint: Florida High Court Tapped Brakes On Dangerous Instrumentality Liability
Floridians concerned about liability when sharing their automobiles with children or friends can relax a bit after the Florida Supreme Court’s recent ruling on the state’s long-standing dangerous instrumentality doctrine. Its decision in Emerson v. Lambert, SC 2020-1311(Fla. Nov. 16, …
Georgia Lawnmower Man Wanted on Charges of Filing False Claim on ‘Stolen’ Mower
Georgia authorities were searching for an Atlanta-area landscaper who has been charged with falsely claiming that one of his commercial-grade lawnmowers had been stolen, then collecting $19,000 from his insurance company. It turns out that Bryan Gatlin, 57, owner of …
California Awards $21.7M to Boost Climate Resilience Across the State
A new Regional Resilience Grant Program aims to protect California communities from climate impacts like wildfire, drought, sea level rise and extreme heat. State leaders have unveiled a $21.7 million funding initiative in the inaugural round of California’s Regional Resilience …
Feds Sue Houston-Area Developer For Predatory Lending
HOUSTON — Federal authorities on Wednesday sued Houston-area developer Colony Ridge, accusing it of luring Latino home buyers into seller-financed mortgages and setting them up to default and face foreclosure. “Colony Ridge set out to exploit something as old as …