INSURANCE NEWS
J&J Talc Unit Defends Latest Bankruptcy Settlement Bid
A Johnson & Johnson company on Tuesday defended its second attempt to resolve talc lawsuits in bankruptcy, telling a U.S. judge it can quickly build consensus around its $8.9 billion settlement offer despite doubts about its assertion that 60,000 plaintiffs …
Kin Spins Into Tornado-Prone Mississippi, Relying on Data for Risk Pricing
Kin Insurance and its reciprocal exchange program have expanded into Mississippi, just as tornado damage may be worsening in the state. Mississippi saw 184 tornadoes in 2022, ranking it first in the nation for tornado activity and up sharply from …
Alera Group Acquires Miami’s Wilson Washburn & Forster
Alera Group, a nationwide wealth services and insurance firm, has acquired Wilson, Washburn & Forster, 62-year-old insurance agency in Miami. Wilson Washburn, founded in 1961, offers commercial and personal lines products, including coverage for aviation, food and hospitality, manufacturers, marine …
Washington Insurance Commissioner Issues $578K in Fines for March Violations
Washington Insurance Commissioner Mike Kreidler issued fines in March totaling $578,363 against insurance companies that violated state insurance laws and regulations. Following is a breakdown of who was fined, and the commissioner’s stated reasons for the actions: Insurance companies The …
California Department Insurance Investigation Led to Dozens Implicated in Fraud Scheme
A California Department of Insurance-led investigation with assistance from the California Department of Justice has resulted in the arraignment of 12 suspects on more than 110 felony counts including conspiracy, insurance fraud, and grand theft for their alleged involvement in …
Family of Missouri Man Who Died Canoeing Sue, Blaming Dangerous Dam
CHESTERFIELD, Mo. (AP) – The family of a man who drowned on a canoe trip is suing two state agencies, alleging a dangerous dam was to blame. The St. Louis Post-Dispatch reports that Caleb Gage, of Ballwin, was 32 last …
Texas Property Management Company Pays $85K Over Harassment Suit
Alden Short and Hinson Jennings, a Dallas-based property management company, will pay $85,000 and furnish other relief to settle a national origin harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced today. According to the …
Empty Tank Cars Derail in Texas Rail Yard, No Injuries Reported
KENDLETON, Texas (AP) – No injuries were reported after three empty tank cars derailed but remained upright in a Southeast Texas rail yard on Monday, the train’s owner said. A locomotive leaked fuel but it was contained, Kansas City Southern …
Magnitude 4.0 Earthquake Recorded in Oklahoma
CARNEY, Okla. (AP) – A magnitude 4.0 earthquake was among a series of six tremors that struck central Oklahoma last Thursday morning, according to the U.S. Geological Survey. No injuries or serious damage were reported following the quakes that also …
Iowa Court: Husband Eligible for Work Comp Death Benefits Despite Separation
The husband of a deceased worker is not ineligible for workers’ compensation death benefits merely because he no longer lived with his wife when she died, a divided Iowa Supreme Court ruled Friday. In a 4-2 decision, the high court …
No Separate Trial for Former JPMorgan Executive in Epstein Case
A U.S. judge rejected requests to sever JPMorgan Chase & Co’s lawsuit accusing former executive Jes Staley of concealing what he knew about Jeffrey Epstein from two related lawsuits over its work for the late sex offender. Monday’s decision by …
Business Moves: Arch Insurance Acquires Insurtech Thimble
Arch Insurance today said it has acquired Thimble, an insurtech platform that enables small businesses to get insurance coverage by the job, month or year using app, website, or over the phone. Terms were not disclosed. Arch said the acquisition …