INSURANCE NEWS
Storms Bring Floods and Damaging Wind Across the South
SLIDELL, La. (AP) — Severe storms blamed for a death in Mississippi spawned a tornado that demolished buildings in one Louisiana city Wednesday while inundating streets in low-lying New Orleans with hours of steady rain that snarled traffic and strained …
DeSantis Signs Bill Barring Local Worker Heat Protection Measures
Florida Gov. Ron DeSantis this week signed into law a prohibition on local governments requiring worker protections from heat exposure, a law that could potentially lead to more workers’ compensation claims from stricken laborers. At the same time, the state …
Georgia Regulator Bars Home Warranty Company for Failing to Secure Bond
A home warranty firm is now prohibited from doing business in Georgia after a cease-and-desist order was issued, the state insurance commissioner announced. Choice Home Warranty did not secure a $100,000 surety bond as required by law, despite warnings from …
USAA to Lay Off 220 Employees
USAA is laying off 220 employees in an effort to reprioritize positions amid changing business needs, the San Antonio-based insurer announced this week. This is the latest round of layoffs at USAA, which let go of nearly 1,000 employees in …
Travelers Survey: Distracted Drivers Making US Roads More Dangerous
Nearly 80% of respondents to a recent Travelers survey said inattentive driving is more of a problem now than it has been in past years. Travelers noted the pandemic triggered a new wave of dangerous habits. The 2024 Travelers Risk …
SC’s Top Officer: No Details on 2012 Hack That Forced $12M in Cyber Insurance
COLUMBIA, S.C. (AP) — Twelve years after a hacker stole personal data from more than 3.6 million people in South Carolina by obtaining Social Security numbers and credit card information from tax returns, the state’s top police officer said Wednesday …
US Senate Committee to Hold Hearing on Boeing Safety Culture Report
The U.S. Senate Commerce Committee said it would hold a hearing next week with members of an expert panel that released a report in February criticizing Boeing’s safety culture and calling for significant improvements. The hearing next Wednesday comes as …
Progress Reported in Salvage Operations at Baltimore Bridge Site
Salvors continue to remove containers from the cargo ship Dali and clear wreckage at the Francis Scott Key Bridge incident site, according to the Unified Command, the group of U.S. Army, Coast Guard and federal, state and local transportation, energy …
Progressive Records Five-Fold Increase in Q1 Net Income
Progressive Corp. today reported strong first quarter 2024 results with net income of $2.3 billion and a combined ratio of 86.1 Last year, net income for the first three months at the Mayfield Village, Ohio-based insurer was $447.9 million and …
Investigators Focus on Electrical System of Ship That Hit Baltimore Bridge
During the initial stages of a federal probe into the deadly collapse of Baltimore’s Francis Scott Key Bridge, investigators are focusing on the electrical power system of the massive container ship that veered off course. Jennifer Homendy, chair of the …
NHTSA Opens Investigation Into Recall of Certain Ford SUVs Over Fuel Leaks
The National Highway Traffic Safety Administration (NHTSA) said on Friday it was opening an investigation into the recall of 42,652 Ford SUVs over concerns of a fuel leak that could lead to fire hazards. The NHTSA’s recall query, or a …
People Moves: Rosensaft Joins Alliant M&A; McDougald Is President of Victor Specialty
Rosensaft Joins Alliant Insurance Services as Managing Director Jodi Rosensaft joined Alliant Insurance Services, headquartered in Irvine, California, as managing director, advisory leader – representation and warranties insurance, Alliant Specialty, in the company’s mergers and acquisitions (M&A) vertical. Rosensaft, based …