INSURANCE NEWS
Texas Utility Rules Didn’t Prevent Panhandle Wildfires
Before it burned to a pile of ashes, Melanie McQuiddy’s house on the outskirts of Canadian was her family’s home base. Her daughter and grandchildren flocked there for holidays. At Christmastime, she put a tree in every room and transformed …
Huge Texas Blaze Shows Power-Line Fires Are a Widespread Threat
Massive wildfires sparked by power lines used to be a California problem, one many utility executives considered safely confined to the Golden State. No more. Texas officials on Thursday blamed the state’s largest-ever fire on electrical lines sparking in dry …
Causey Wins Primary for NC Commissioner. Democrat Blasts Him for Hearing Delay
North Carolina Insurance Commissioner Mike Causey easily won the Republican primary for reelection to the post this week, but the Democratic nominee wasted little time in blasting Causey for postponing a rate hearing. State Sen. Natasha Marcus, D-Salisbury, won 77% …
Miami Beach Spends $250,000 to Tell Spring Breakers to Stay Away
(Bloomberg) — Miami Beach has a message for spring breakers: We’re done. Fed up with rowdy college kids doing the sort of things rowdy college kids do in a haze of endorphins, alcohol and other intoxicants, the city has spent …
Alabama Governor Signs Legislation Protecting IVF Providers from Legal Liability
MONTGOMERY, Ala. (AP) — Facing pressure to get in vitro fertilization services restarted in the state, Alabama’s governor swiftly signed legislation into law Wednesday shielding doctors from potential legal liability raised by a court ruling that equated frozen embryos to …
Markets/Coverages: Heinz Offers World’s 1st Ketchup Insurance Policy With 57 Varieties
Heinz Arabia has announced the launch of the world’s first-ever ketchup insurance policy. The new insurance coverage aims to alleviate the stress and inconvenience of everyday ketchup spills, splatters and splotches. Inspired by countless social media posts showcasing ketchup-related accidents, …
Cruise Ship Worker Accused of Using Hidden Cameras to Spy on Guests
FORT LAUDERDALE, Fla. (AP) — A Royal Caribbean cruise employee is accused of hiding cameras inside bathrooms of passenger cabins to spy on guests, including underage girls. Arvin Joseph Mirasol, 34, was arrested Sunday on federal charges of production and …
Meta Seeks Dismissal of Shareholder Suit Alleging Failure to Address Human Trafficking
Attorneys for Meta Platforms and several of its current and former leaders, including founder Mark Zuckerberg, are asking a Delaware judge to dismiss a shareholder lawsuit alleging the company has deliberately failed to protect users of its social media platforms …
US Treasury Drops Plan to Collect Insurer Data on Climate Risks
The US government is stepping away from its effort to collect data on home insurance prices and availability at the Zip code level as premiums soar and climate risks to property intensify. Instead, it will join in a collaborative effort …
Liberty Mutual Execs See Q4 Momentum as 2023 Income Falls
Although Liberty Mutual reported worse underwriting results and lower net income in 2023 compared to the prior year, executives pointed to the momentum of the final quarter as an indicator of what’s ahead. “We made solid progress toward our 95 …
Former AIG Execs Launch E&S Company Dellwood Group for Small/Middle Sized Risks
Two former executives with American International Group (AIG) have launched a nationwide excess and surplus lines (E&S) insurance holding company. Michael Price and Kean Driscoll announced the formation of Dellwood Insurance Group, which they said will be dedicated to property/casualty …
Justice Department to Offer More Rewards to Corporate Whistleblowers
The U.S. Justice Department is expanding its whistleblower program to coax more tipsters to disclose corporate misconduct by offering monetary rewards, Deputy Attorney General Lisa Monaco said on Thursday. The Justice Department is already authorized to dole out awards for …