INSURANCE NEWS
Montana Brokerage Owner Admits to Defrauding Customers
Kileen Moria Hagadone, 57, owner of Rosebud County Insurance Inc., pleaded guilty to wire fraud and to aggravated identity theft. Hagadone faces a maximum of 20 years in prison, $250,000 fine and three years of supervised release on the wire …
NHTSA Proposing New Rules to Encourage Seat Belt Use by All Vehicle Passengers
The Department of Transportation is proposing new rules designed to encourage seat belt use by car and truck passengers, including those sitting in the back seat. The new rules proposed by the National Highway Traffic Safety Administration would require manufacturers …
People Moves: Breskin Joins Insurance Office of America’s Western Division
Insurance Office of America added Jeffrey Breskin to its western division team. Breskin has more than 35 years of experience in risk management, claims, safety, and workers’ compensation laws and regulations. He previously served as senior vice president, risk management …
Uber Raises Minimum Age for Most California Drivers to 25 over Insurance Costs
Uber raised the minimum age requirement for most of its new drivers in California to 25 on Thursday under rules the company said are necessary because of the rising costs of commercial auto insurance in the state. The new rule …
Washington Commissioner’s Orders Insurers to Extend Policyholders Protections for Wildfires
Washington state Insurance Commissioner Mike Kreidler issued an emergency order requiring all property/casualty insurers to provide additional protections for policyholders impacted by the Gray and Oregon Road fires. The emergency order was made possible by Gov. Jay Inslee’s emergency declaration. …
AM Best Revises Outlook to Negative for Iowa-Based Grinnell Mutual Group’s Credit Ratings
AM Best has revised the outlooks to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) for the members of Grinnell …
Goosehead Introduces Agency Launch Program for Recent College Graduates
Goosehead Insurance announced the Agency Launch Program, a plan geared towards recent college graduates interested in acquiring the skills to own their own Goosehead Insurance franchise. The program promises professional development and networking opportunities, hands-on sales experience and coaching, and …
Nova Scotia Floods Cost Insurers More Than C$170 Million
An atmospheric river event that led to significant flooding in parts of Nova Scotia on July 23, 2023, is estimated to have caused over C$170 million (US$125.5 million) in insured damage, according to initial estimates from Catastrophe Indices and Quantification …
Murdaugh’s Friend Pleads to More Charges in Helping Steal Insurance Funds
Convicted murderer Alex Murdaugh `s old college buddy has pleaded guilty to a second set of charges for helping the disgraced South Carolina attorney steal millions of dollars of insurance settlements from the sons of Murdaugh’s dead housekeeper. Cory Fleming, …
Swiss Re Ordered to Pay Former Underwriter $1.6M for Sexism, Unfair Dismissal
A former Swiss Re underwriter has been awarded nearly 1.3 million pounds ($1.6 million) by a London employment tribunal for sexual discrimination and unfair dismissal. Julia Sommer joined Zurich-based Swiss Re in 2017 as a political risk underwriter in London …
Contingency Broker 1783 Group Joins Global Network, Brokerslink
Global broking business, Brokerslink, has added sports, music and entertainment contingency broker 1783 Group to its network. The new specialist affiliate operates in the world of sports, music, film and TV, and other esoteric risks. Striving to make the world …
US Corn Harvest Is in Trouble
Sagging ears just short of maturity, cobs half bare of kernels as if nibbled, earth so dry that deep cracks criss-cross the fields: The US corn harvest is in trouble. The signs were already there in South Dakota. Scouts surveying …