INSURANCE NEWS
Investigation Underway into Cause of Home Explosion That Killed 2 in Pittsburgh Suburb
A massive explosion killed two people and destroyed a house in the Pittsburgh area near the Ohio River, authorities said Tuesday. Aerial images from the scene in Crescent Township in the northwest Pittsburgh suburbs showed smoking ruins with the structure …
5 Killed, Including 3 Children, in Illinois School Bus Accident
RUSHVILLE, Ill. (AP) — Five people, including three children, were killed in western Illinois when a school bus and semitruck collided on a highway Monday, authorities said. The bus was traveling eastbound when it crossed the center line on U.S. …
Missouri Captive Gross Written Premium Up 142%
The Missouri Captive Insurance industry increased its gross written premium by 142% in 2023, the Missouri Department of Commerce and Insurance (DCI) reported. The amount of written premiums in 2022 were $3,543,681,320 vs. $8,600,492,937 in 2023. This growth is attributed …
Texas Committee to Investigate Panhandle Wildfires
LUBBOCK — Texas House Speaker Dade Phelan is creating a legislative committee to investigate the Texas Panhandle wildfires to ensure the state is prepared for future disasters. His Tuesday announcement comes more than two weeks after the deadly infernos first …
Massachusetts Appeals Denial of Federal Disaster Aid for Fall Flooding
Massachusetts Gov. Maura Healey is appealing a decision of the Federal Emergency Management Agency to deny the state’s request for a major disaster declaration to support cities and towns battered by severe weather and flooding in September. Healey said the …
Eggland’s Best Is Sued Over Saturated Fat Claims for Its Eggs
Eggland’s Best, one of the largest U.S. egg producers, has been sued for falsely claiming that its eggs contain less saturated fat than other eggs. The proposed class action filed on Tuesday in federal court in Chicago by Richard Vilchis …
Marsh Specialty: 2024 Elections to Direct Global Course for Next Decade-Plus
More than 60 elections will be held worldwide in 2024, and the outcomes will likely affect international relationships, drive policy uncertainty and disrupt markets, Marsh Specialty leaders said in a new political risk report. “The outcomes of the elections taking …
Insurers, Insureds Must Collaborate to Get Ahead of Social Inflation
Executive Summary: Setting up mock jury trials, taking cases to trial and refraining from issuing “hammer” letters to lower-layer insurers are just three of the strategies Aspen’s Chief Claims Officer Tony Rai suggests that insurers start undertaking—in concert with their …
Class Action Lawsuits Pile Up Over UnitedHealth Data Breach
UnitedHealth Group has already been hit with at least six class action lawsuits accusing it of failing to protect millions of people’s personal data from last month’s hack of Change Healthcare, its payment processing unit, with more lawsuits likely to …
Chubb’s Greenberg Defends Issuing Appeal Bond to Trump: ‘We Don’t Take Sides’
Chubb CEO Evan Greenberg, recognizing the criticism swirling around his company’s involvement in providing Donald Trump with a $91.6 million appeal bond so he can appeal a verdict, penned a letter to explain. “When Chubb issues an appeal bond, it …
Court Upholds Kansas Law Banning Changes to Transgender Driver’s Licenses
TOPEKA, Kan. (AP) — A Kansas judge ruled Monday that the state isn’t violating transgender residents’ rights under the state constitution by refusing to change their driver’s licenses to reflect their gender identities. District Judge Teresa Watson kept in place …
Oklahoma House Passes Bill to Fund Fortified Homes Program
Oklahoma lawmakers in the House of Representatives on Tuesday approved a bill that would provide financial grants to residents to construct or retrofit homes, making them more resilient against the destructive forces of tornadoes, windstorms and hail. House Bill 3089, …