INSURANCE NEWS
WHO Says Toxic Syrup Risk ‘Ongoing’, More Countries Hit
There is an ongoing global threat posed by toxic cough syrups, the World Health Organization (WHO) told Reuters, saying it was now working with six more countries than previously revealed to track the potentially deadly children’s medicines. The U.N. agency …
Probe Opened Into Hyundai Ioniq 5 EVs Over Power Loss Reports
U.S. auto safety regulators are investigating nearly 40,000 Hyundai Ioniq 5 electric vehicles over reports of power loss while driving tied to a battery charging issue. The National Highway Traffic Safety Administration’s preliminary investigation covers 2022 model-year vehicles after it …
Sublimit Left Out of Policy, But Liberty Mutual Firm Avoids Huge Payout Anyway
What happens when an insurance carrier, its underwriter, a broker and the insured all forget to make sure a sublimit endorsement on wind-driven rain losses is included in a multi-million dollar property policy? In the case of a Liberty Mutual …
World Insurance Acquires Assets of Bryant Agency in Upstate New York
Insurance broker World Insurance Associates LLC announced that it acquired substantially all the insurance assets of Bryant Asset Protection, Inc. of Slingerlands, Terms of the transaction were not disclosed. BAP was founded in 1951 by Charles Bryant, and today serves …
Data on California Private Self-Insureds’ 2022 Workers’ Comp Claim Experience
California workers’ compensation private self-insured claim frequency rose 6% last year as both medical-only and indemnity claim volume increased, but a new report suggests that many of the claims may have been low-cost COVID-19 cases. A California Workers’ Compensation Institute …
Construction Owners Accused of Submitting Fraudulent Bonds for New York Storm Projects
Federal officials report they have charged two construction company owners with submitting fraudulent bonds in connection with storm recovery and reconstruction projects in New York. Rawinder Dhillon and Amninder Singh allegedly defrauded the New York State Governor’s Office of Storm …
Takeaways from Our Conversation on Carrier-Broker Relations
Insurance professionals specializing in cannabis across the nation in the last few years have gone from few and far in between to too many to count as cannabis evolves into a mature industry – and it builds a clearer claims …
Justice Department Accuses Minneapolis Police of Systematic Discrimination After George Floyd’s Killing
MINNEAPOLIS (AP) – The Justice Department alleged Friday that Minneapolis police have systematically discriminated against Black and Native American people for years and often violated constitutional rights following a sweeping investigation that began after George Floyd was killed. The two-year …
Microsoft Says Early June Disruptions to Outlook, Cloud Platform Were Cyberattacks
In early June, sporadic but serious service disruptions plagued Microsoft’s flagship office suite – including the Outlook email and OneDrive file-sharing apps – and cloud computing platform. A shadowy hacktivist group claimed responsibility, saying it flooded the sites with junk …
Texas Panhandle Storm Blamed for 3 Deaths, Wrecked Mobile Homes and Main Street
PERRYTON, Texas (AP) – As Sabrina Devers watched what would turn out to be a deadly storm approach her ranch just north of the Texas Panhandle town Perryton, she first spotted golf ball-sized and then softball-sized hail. Then, Devers said, …
Louisiana Homeowners Eligible for Roofing Retrofitting Grants
Louisiana homeowners will soon be able to apply for grants to retrofit their roofs to beyond-code construction standards, spurring discounts to their insurance premiums. State lawmakers appropriated $30 million to the Louisiana Fortify Homes Program (LFHP) in a budget bill …
Lightning to Blame for $952M in Homeowners Claims in 2022
Claims involving lightning in 2022 resulted in homeowners insurance payouts approaching $1 billion, according to the Insurance Information Institute. The total value of claims in 2022 attributable to lightning was $952 million, down from $1.3 billion in 2021, said Triple-I. …