INSURANCE NEWS
Delaware’s Navarro Warns Producers Not to Blame DOI for Higher Premiums
The Delaware Department of Insurance is not forcing insurers to raise premiums, and anyone who says otherwise could lose their license and face fines of $10,000, the department warned in a bulletin this week. “The department continues to regularly receive …
Biden’s Carbon Proposal is Unworkable, Power Sector Warns
U.S. power plant owners warned the Biden administration on Tuesday that its sweeping plan to slash carbon emissions from the electricity sector is unworkable, relying too heavily on costly technologies that are not yet proven at scale. Top utility trade …
Divers Find 32 Cars Submerged in Lake Near Miami
Divers working missing persons’ cold cases have found 32 cars submerged in a lake near Miami, prompting questions about the vehicles’ connection to crimes. Multiple news outlets reported that the cars were found in murky lake in Doral, near the …
TWIA Board Votes Down Recommended Rate Increases
Though an analysis found rates at Texas’ insurer of last resort to be about 20% inadequate, its board on Tuesday did not come to an agreement to file for any rate increases. The board of the Texas Windstorm Insurance Association …
Bursting Ice Dam in Alaska Highlights Risks of Glacial Flooding
The gray, two-story home with white trim toppled and slid, crashing into the river below as rushing waters carried off a bobbing chunk of its roof. Next door, a condo building teetered on the edge of the bank, its foundation …
Trial Begins for Security Guard Who Shot Man in Shootout at Nashville Restaurant
A security guard charged with second-degree murder over a 2018 fatal shooting outside the Nashville restaurant where he was working headed to trial Monday, a case that hinges on whether he was justified to fire at a man involved in …
Southwest Will Appeal Judge’s Ruling Requiring ‘Religious Liberty Training’
Southwest Airlines Co. on Tuesday said it will appeal a Texas federal judge’s unusual order requiring three of its senior lawyers to attend “religious liberty training” by a prominent conservative Christian legal group. The airline in a statement confirmed that …
NH Insurers, Agencies Must Report When Producers are Fired, New Commish Says
The New Hampshire Insurance Department is reminding insurance companies and agencies that they must notify the department when terminating producers for cause. “In the interest of ensuring compliance and upholding the integrity of our insurance system, we urge all insurers …
Powerful Storm System Kills Two, Leaves 1M Without Power in South, East Coast
At least two people died, thousands of U.S. flights were canceled or delayed, and more than 1.1 million homes and businesses lost power Monday as severe storms, including hail and lightning, moved through the eastern U.S. The National Weather Service …
People Moves: Xceedance Names Tiwari President, EMEA/APAC; Chubb Climate+ Appoints Prunier for Product Engagement/Services; Howden Taps Aon’s Green for Property
This edition of International People Moves details appointments at Xceedance, Chubb, and Howden. A summary of these new hires follows here. Xceedance Names Tiwari President, EMEA & APAC Xceedance, the Boston-based provider of technology and digital solutions, claims services, and …
Greensill Sues Zurich Insurance for $400 Million to Recoup Losses
Greensill Bank AG’s administrators are seeking more than $400 million from Zurich Insurance Plc in London lawsuits to recoup the defunct lender’s losses on controversial investments linked to Credit Suisse and Liberty Commodities Ltd.. The administrators want Zurich to make …
Severe Convective Storms Dominate Insured Natural Disaster Losses in H1: Swiss Re
Global natural catastrophes cost insurers US$50 billion in the first half, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, according to Swiss Re. “Severe convective storms – storms associated with thunder, lightning, heavy rain, …