INSURANCE NEWS
Inflation Contributes to Rising Loss Costs for US Commercial P/C Insurers: Fitch
Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC Insurance Holdings Inc., and Selective Insurance Group Inc. — to gauge trends for …
King Partners Buys Vero Beach-based Prestige Insurance
King Insurance Partners, the Gainesville, Florida-based brokerage, has continued its steady pace of expansion with the acquisition of Prestige Insurance, with offices in Vero Beach. Michele Anania is principal of the 25-year-old Prestige agency, which focuses on home, commercial and …
Alliant Insurance Services Acquires Captive Program Manager POPIC
Alliant Insurance Services, the Irving, California-based insurance broker, has acquired Property Owners Protection Insurance Co. (POPIC), a national captive program manager that serves owners and managers of multifamily and single-family residential portfolios. Financial details of the deal were not disclosed. …
Former Florida Insurance Commissioner, Agent and FAIA Chair Gunter Dies
Former Florida insurance commissioner, treasurer and Congressman Bill Gunter died Monday at his Tallahassee home. He was 89. “He was a strong, thoughtful public servant and pioneer in insurance regulation as commissioner of insurance, paving the way for future CFOs …
Markets/Coverages: Lemonade Launches Homeowners Insurance in France
Lemonade, the New York-based insurtech, announced the launch of homeowners insurance in France in partnership with BNP Paribas Cardif. Millions of occupying homeowners can now purchase extensive coverage for their home and belongings. Risks are covered by both BNP Paribas …
DoorDash Launches Benefits Program for Pennsylvania Delivery Drivers
DoorDash Inc. is paying its delivery couriers in Pennsylvania additional money for a limited time to cover some benefits that are normally reserved for full-time employees. DoorDash will make monthly contributions starting in July into an individual savings account managed …
Swiss Women Win Landmark Climate Victory at Human Rights Court
The European Court of Human Rights (ECtHR) ruled on Tuesday in favor of a group of elderly Swiss women who had argued that their government’s inadequate efforts to combat climate change put them at risk of dying during heatwaves. The …
Global Accounting Rule Ends Leeway Over Operating Profit
Companies will have to publish standardized operating profit figures from 2027 under new requirements from a global accounting rulesetter to help end what international investor Warren Buffett has called “misleading” numbers. The International Accounting Standards Board (IASB) writes book-keeping rules …
US Dog-Related Injury Claims Hit $1.12 Billion in 2023: Triple-I, State Farm Report
US insurers paid out $1.12 billion in dog-related injury claims in 2023 according to the Insurance Information Institute (Triple-I) and State Farm. The number of dog bite and related injury claims was 19,062 in 2023, an increase of more than …
Suncor’s Syncrude Canada to Pay C$390,000 After Worker Fatality
Oil sands producer Syncrude Canada, majority-owned by Suncor Energy, will pay C$390,000 ($287,187.04) after pleading guilty to a health and safety charge relating to the death of a worker on one of its sites in June 2021, the Alberta government …
Tesla Settles Case Over Fatal Autopilot Crash of Apple Engineer
Tesla has settled a lawsuit over a 2018 car crash that killed an Apple engineer after his Model X, operating on Autopilot, swerved off a highway near San Francisco, court documents showed on Monday. The settlement was made on the …
European States Sign Pledge to Protect North Sea Infrastructure
Britain and other major European countries with maritime borders on the North Sea on Tuesday signed an agreement to work together to protect underwater infrastructure, including from possible Russian attacks. The six countries involved – Belgium, Britain, Denmark, Germany, Norway …