INSURANCE NEWS
Trans Worker Says Texas-Based Railroad Wouldn’t Promote Her
OMAHA, Neb. (AP) – A former BNSF worker who was named one of the railroad’s employees of the year in 2021 for her work in supporting LGBTQ+ workers is now suing the railroad where she worked for 30 years, saying …
Insurtech WeFox Raises $110 Million in Extension to 2022 Funding Round
Wefox Holding AG, an insurance-technology firm based in Berlin, raised $110 million to build a platform that will make its technology available to other insurers. JPMorgan Chase & Co. and Barclays Plc provided half the funds as a revolving credit …
Specialist Risk Group Acquires UK Specialist Broker TLO Risk Services
Specialist Risk Group (SRG), the London-based insurance broker, has acquired TLO Risk Services, the professional risk specialist broker, which will play an integral role in the development of SRG’s professional lines capability. Specializing primarily in the legal sector, London-headquartered TLO …
Viewpoint: Should Insurance Drive Increased Firearm Safety?
It seems almost weekly there is a story or two in the national headlines addressing gun violence in the U.S., and a recent Insurance Journal story indicated respondents of a survey thought insurance could have a role in firearm safety. …
Insurance Journal, Carrier Management & Claims Journal Staffs Win Awards of Excellence
Wells Media Group publications, online, research and podcasts have won a total of nine 2023 Azbee Awards of Excellence from the American Society of Business Publication Editors (ASBPE). “Being recognized by our publishing peers is truly gratifying,” said Andrea Wells, …
Top Cyber Insurers: 2022 Ranking Reveals Sprinters, Market Share Shifts
In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent top-10 spots. Fitch compiled and …
Fla. Appeals Court Upholds Lawyer’s $104,000 Fine for Sabotaging Med Mal Trial
An attorney with one of Florida’s largest insurance defense firms must pay more than $100,000 in sanctions after deliberately trying to sabotage a medical malpractice suit in order to win a mistrial, a Florida appeals court has decided. The 6th …
Officials: 30 California Workers Getting $437K in from Food Company
California Insurance Commissioner Ricardo Lara and California Labor Commissioner Lilia Garcia-Brower on Monday announced the resolution of criminal charges filed against Golden Food Inc in a plea agreement in which the company admitted to a litany of labor violations, including …
APCIA: Illinois Bill Significantly Would Have Detrimental Impact
An Illinois bill allowing punitive damages in wrongful death cases will increase already high litigation costs, the American Property Casualty Insurance Association and the Illinois Insurance Association say. The groups issued the following statement in response to HB 219, addressing …
Washington Commissioner Fines Airbnb for Acting as Unauthorized Insurer
Washington Insurance Commissioner Mike Kreidler fined Airbnb $20,000 for acting as an unauthorized insurer in the state. Kreidler also ordered the vacation rental company to obtain a surplus lines insurance policy to continue offering its Host Damage Protection program in …
Florida Insurance Agent Convicted in $6M Ponzi Scheme that Defrauded Investors
A federal jury has found a Sarasota insurance agent and financial consultant guilty of defrauding elderly Floridians out of $6 million, money that the victims believed was going to fund a life insurance startup known as FastLife. Phillip Roy Wasserman, …
Property Insurer SageSure Turns ‘Unicorn’ After $250M Funding Round
SageSure became a “unicorn” after the U.S. property insurer raised $250 million in its latest funding round, a source familiar with the matter told Reuters. A unicorn is a startup that is valued at or above $1 billion. SageSure’s latest …