INSURANCE NEWS
People Moves: Newbold Named President of Verisk Extreme Event Solutions; Rudnick Division Manager of FM Global’s AFM
Verisk, headquartered in Jersey City, N.J., named Rob Newbold president of Extreme Event Solutions. Current President Bill Churney will retire effective December 31. Newbold joined Verisk in 2002 as a risk consultant and most recently served as executive vice president …
US, UK Say Russia Targeted Officials in Political Cyber Campaign
The US and UK have launched a coordinated effort to disrupt a longtime alleged Russian government hacking campaign aimed at what they say is an attempt to undermine democratic processes in both their countries. The UK accused Russia’s main intelligence …
Florida Weekly Wage and Max Workers’ Comp Benefit See Biggest Jump Since 1980
The Florida Division of Workers’ Compensation has released the maximum weekly wage benefit for 2024 and it’s the largest two-year jump in wages in more than four decades. Florida law sets the maximum indemnity benefit for injured workers at 100% …
Judge Gives Early Nod to GEICO’s $5M Settlement in Georgia Class Action
GEICO Indemnity Co. has agreed and a federal court in Georgia has given approval to a preliminary settlement of $5.1 million in a class-action lawsuit in which plaintiffs said the insurer had shorted them on ad valorem taxes when their …
Travelers Wins CGL v. E&O Battle in Insurance Agency Defamation Case
Travelers Casualty Insurance Co. did not owe a duty to defend or indemnify its insured, CBIZ Borden-Perlman Insurance Agency, Inc., in a tort action in which Republic, as another insurer of B-P, bore the litigation and settlement costs, a federal …
Two Charged in 50 Crimes Including Thefts of 16 Luxury Cars Worth $1 Million
Massachusetts Attorney General Andrea Joy Campbell announced indictments against two men for a total of 50 crimes including thefts of 16 luxury cars valued at more than $1 million. Dyllan Lopes, age 21 of Quincy, was indicted for 31 crimes …
What to Expect in Personal Lines: Regulatory Battles Ahead; Allstate May Drop Customers
Analysts from Standard & Poor’s predicted this week that while personal auto results are starting to stabilize, the continued push for rate in 2024 will set the stage for more faceoffs between regulators and insurers. Tim Zawacki, principal insurance analyst, …
People Moves: Standard Lines Services Names Lakey as Division Leader
Standard Lines Services named Joshua Lakey division leader. Standard Lines Services is a division of Graham-Rogers Insurance, based in Bartlesville, Okla. Lakey has 18 years of insurance experience and previously served as senior territory manager at Safeco Insurance.
WCRI: Wisconsin’s Medical Payments per Claim Remain Stable but Highest Among 17 States
Medical payments for treatment of injured Wisconsin workers were the highest of 17 study states, according to a recently released report from the Workers Compensation Research Institute (WCRI). The study, CompScope™ Medical Benchmarks for Wisconsin, 24th Edition, found that medical …
New England’s Foy Insurance Group Acquired by World Insurance
New England’s Foy Insurance Group has been acquired by national broker World Insurance Associates. The Foy agency, headquartered in Exeter, New Hampshire, has been doing business in New Hampshire for more than 100 years. Today it is one of New …
New Orleans Marsh Fire Blamed For Fatal Highway Crashes is Out After Burning For Weeks
NEW ORLEANS (AP) – A stubborn, smoky marsh fire that contributed to fatal car crashes on fogbound highways and sometimes fouled New Orleans air with a pervasive stench has been completely extinguished after burning for over a month, the New …
Higginbotham Acquires Ohio’s Botson’s Insurance Group
Higginbotham has acquired Botson Insurance Group of Avon, Ohio. This move extends the Texas firm’s presence across Ohio, as Higginbotham formed a similar collaboration with western Ohio’s Community Insurance Group, Ltd. earlier this year. Terms of the deal were not …