INSURANCE NEWS
Consistent Policy Wording Bringing Some Relief to Evolving Cyber Market
Consistency within cyber insurance policies is something the industry has been grappling with for nearly a decade, according to speakers at the annual RIMS Riskworld conference, held this year in Atlanta, but the industry is beginning to see a light …
Georgia Workers at Largest School Bus Maker, Blue Bird, Vote to Unionize
Workers in Georgia at one of the nation’s largest school bus manufacturers have voted to unionize. Employees at Blue Bird Corp. chose to be represented by the United Steelworkers union by a vote of 697-435, according to the National Labor …
Alabama Bill Would Give Childhood Abuse Victims More Time to File Suit
Alabama legislation that would give victims of childhood sex abuse more time to sue their abusers has stalled in a committee amid opposition from insurance companies, the bill’s sponsor said. The Senate Judiciary Committee has not scheduled a vote on …
TypTap Insurance Reports First Profit. CEO Sits Down to Talk About it and the Future
When HCI Group’s TypTap Insurance launched in 2016, it created a buzz in the industry and some skepticism, due to the company’s plan to rely heavily on mapping technology and property data. This month, Tampa-based HCI announced that, after a …
Britain Awards 20 Offshore Carbon Storage Licenses
Twelve companies were awarded a total of 20 licenses to develop carbon dioxide (CO2) storage offshore, in Britain’s first licensing round for such projects, the North Sea Transition Authority (NSTA) said on Thursday. Britain aims to use carbon capture and …
23 State Attorney Generals Concerned About Insurer Climate Commitments
Nearly two dozen GOP Attorney General offices sent a letter to the Net-Zero Insurance Alliance seeking documents and information over “legal concerns brought about by commitments to collaborate with other insurers in order to advance an activist climate agenda.” The …
US, UK, Others Seek to Target Illicit Oil Shipping Transfers at Sea
The U.S., UK, Denmark and other countries have called for more action, including increased surveillance, over the booming practice of unregulated oil transfers at sea, as fears grow over potential pollution, according to a paper submitted to the U.N. “These …
Supreme Court Leaves Intact Social Media Liability Shield in Win for Google, Twitter
The US Supreme Court left in place a broad liability shield for social media companies for content posted by users, insulating Twitter Inc., Facebook Inc. and Google LLC from claims that they provided assistance to Islamic State terrorists. Acting in …
Commercial Property Premiums Up Over 20% to Start 2023: CIAB
Commercial property premiums increased more in the first quarter than they have in more than 20 years as the first three months of the year marked the 22nd straight quarter of overall premium increases, at 8.8%, according to the newest …
North Carolina Mobile Home Insurance Rates to Rise 15%, Starting in October
North Carolina’s insurance commissioner has negotiated a 15% average statewide increase in rates for mobile home insurance policies, a reduction from the hefty hike that the state’s rate bureau had recommended. The North Carolina rate bureau had proposed an 87.5% …
Aon Sues Alliant Over ‘Unlawful Raid’ of Reinsurance Group
Aon this week filed a lawsuit against rival Alliant Insurance Services for an alleged “unlawful raid” of senior leaders and other employees of Aon’s facultative reinsurance group. Aon claims Alliant took 26 of its employees, reinsurance business, and confidential information …
Fraudulent Filings in Massachusetts Could Be Distorting U.S. Jobless Claims Reports
Fraudulent filings for state unemployment insurance aid in Massachusetts could be distorting U.S. weekly unemployment claims data, economists warned on Wednesday, making it harder to get a clear picture of the labor market in the short-term. A surge in applications …