INSURANCE NEWS
APCIA, RAA Testify Before Senate Committee on Property Insurance Market
The American Property Casualty Insurance Association (APCIA) and the Reinsurance Association of American together presented testimony in Washington today on the state of of the property insurance market. The presentation, “Perspectives on Challenges in the Property Insurance Market and the …
Public Adjusters Can’t Charge Fees Before Contract, Kentucky Commissioner Says
Kentucky’s insurance commissioner is reminding public adjusters that they are not authorized to get paid up front, before a contract with a homeowner is signed, unless approved by the commissioner. And fees are limited to 15% of insurance awards for …
Lawyers Claim Cable TV and Phone Companies Also Responsible in Hawaii Fires
After a visit to a warehouse where Hawaiian Electric Company is housing power poles and electrical equipment that may be key to the investigation of last month`s devastating fires on Maui, lawyers for Lahaina residents and business owners told a …
Lawyers Claim Cable TV and Phone Companies Also Responsible in Hawaii Fires
After a visit to a warehouse where Hawaiian Electric Company is housing power poles and electrical equipment that may be key to the investigation of last month`s devastating fires on Maui, lawyers for Lahaina residents and business owners told a …
Florida-based Bayview Launches Mortgage-Focused Insurance Asset Management
Florida-based Bayview Asset Management LLC is launching an insurance asset management arm that will seek to expand the range of investable assets available to insurers, according to a statement from the company. The new business will take in money from …
Zimmerman Nominated to Be New Jersey Insurance and Banking Commissioner
Governor Phil Murphy has nominated Justin Zimmerman as commissioner of the New Jersey Department of Banking and Insurance. Zimmerman, who has been with the state agency since 2018, currently serves as acting commissioner and will continue to serve in his …
Former NFL Standout Mike Williams on Life Support after Florida Construction Accident
Former NFL wide receiver Mike Williams was reported to be on life support at a Tampa hospital Thursday after a construction accident. Multiple news outlets reported that Williams, who played for the Tampa Bay Buccaneers and the Buffalo Bills, was …
Philips to Pay at Least $479 Million For Apnea Machine Cases
Koninklijke Philips NA officials have agreed to pay at least $479 million to resolve part of a sprawling litigation tied to a 2021 US recall of millions of machines designed to treat sleep apnea, according to people familiar with the …
People Moves: Higham to Head Everest Underwriting Partners; Kincaide Joins Jimcor
Everest Insurance® Division Names Higham Head of Everest Underwriting Partners Everest Group, Ltd. appointed Charlie Higham as senior vice president and head of Everest Underwriting Partners. He succeeds Brian Drum, who retired from Everest on Sept. 1 after 16 years …
Delaware High Court OKs Lien Against Uninsured Motorist Benefits in Workers’ Compensation Case
The Delaware Supreme Court has broken with its own precedent to rule that a workers’ compensation insurance carrier may assert a lien against benefits an injured employee recovers from other sources. The particular issue before the court was whether an …
CelsiusPro Buys UK’s Global Parametrics to Strengthen Climate, Nat Cat Risk Solutions
CelsiusPro AG, the Zurich-based parametric insurance managing general agent, announced the acquisition of Global Parametrics Holding Co. Ltd. CelsiusPro said the deal will strengthen its global capabilities to offer parametric risk transfer solutions to both private and public sector clients …
Global Fears Are Feeding Demand for Lloyd’s of London Insurance, CEO Says
Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said. Rising inflation, recession worries, climate threats and geopolitical tensions are making …