INSURANCE NEWS
Women in Finance Criticize City of London’s ‘Tokenistic’ Diversity Efforts
Testimonies from 40 women across banking, insurance, and asset management in Britain describe diversity and inclusion initiatives as often “tokenistic,” and lacking the “teeth” to make a change in an industry where misogynistic attitudes linger. The summary of a private …
People Moves: Zimmer to Take Alliant CEO Reins From Colbert; WTW Names Forms Client Growth Team; Xceedance Hires Flynn for Personal Lines
Alliant Insurance Services named Greg Zimmer chief executive officer, taking over for Tom Colbert, who has served as CEO for more than 30 years. The new leadership roles will take effect April 1, 2024. Zimmer joined Alliant in 1998 as …
Viewpoint: The Time to Modernize Building Codes, Protect Communities Is Now
As we’ve seen for the past several years, severe weather is no longer a seasonal or geographic issue—climate risk has now made these events possible all year long and in every state. The statistics back up this frightening reality. November’s …
Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey
Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in …
State Farm Owes $2.6M to Florida, Court Says in Reading of ‘Dense’ Tax Code
State Farm Insurance and its subsidiaries owe the state of Florida more than $2.6 million in back taxes and interest after a state appeals court ruled against the insurer on an interpretation of state and federal tax laws. “We disagree …
Lawsuit over California Group’s Do-Not-Eat Listing for American Lobster Dismissed
A California court has dismissed a lawsuit from a group of fishermen against a conservation group that added New England lobster to its list of seafood to avoid. The lawsuit stemmed from a decision by Seafood Watch, which rates the …
Fatal Hot Air Balloon Crash in Arizona May Be Linked to Faulty ‘Envelope’
An “unspecified problem” with the balloon portion of a hot air balloon may have led to Sunday’s crash in the Arizona desert that left four people dead and another critically injured, federal authorities said. The National Transportation Safety Board said …
Washington State Sues to Block Kroger and Albertsons Proposed Merger
Washington state Attorney General Bob Ferguson sued to block the proposed merger of Kroger and Albertsons, two of the nation’s largest grocery chains. In the suit filed in King County Superior Court, Ferguson argued that the $25-billion deal would harm …
Kansas Insurance Department Recovers $16M in 2023
Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Insurance Department recovered more than $16 million for Kansans in 2023, the largest single-year recovery in Department history. This new record goes beyond the previous year’s recovery total of $7.6 million. The …
People Moves: Skyward Specialty Forms Media Liability Team
Skyward Specialty Insurance Group, Inc., headquartered in Houston, Texas, made two new hires as it expands into the media liability market, focusing on multimedia, film and ad agencies. Regina Williams joins Skyward Specialty as vice president, media liability. Based in …
New York Proposes Guidance Governing Insurers’ Use of AI
New York State is proposing guidance for insurance carriers to prevent unfair discrimination in their use of artificial intelligence and external data sources in underwriting and pricing. A circular letter from Superintendent of Financial Services Adrienne A. Harris outlines the …
OSHA Fines Mississippi Poultry Plant $212,646 in Death of 16-year-old Worker
The Occupational Health and Safety Administration this week fined a Mississippi poultry processor $212,646 – an amount set by law – after a 16-year-old was pulled to his death inside a deboning machine last summer. Mar-Jac Poultry MS LLC in …