INSURANCE NEWS
California Commissioner and FAIR Plan Agree to up Commercial Coverage to $20M
California Insurance Commissioner Ricardo Lara and the California FAIR Plan Association agreed to more than double its existing commercial coverage limits to $20 million for businesses unable to find coverage in the normal insurance marketplace. Lara and the FAIR Plan …
Apex Risk & Insurance Services Launches in California
Apex Risk & Insurance Services launched in the San Diego, California area. CEO Peter Katkov, a seasoned insurance professional with more 15 years in the industry, founded Apex Risk & Insurance. Apex specializes in personal and commercial property/casualty insurance. The …
Vista Equity Partners Completes $2.6B Buy of Duck Creek Technologies
Duck Creek Technologies on March 30 announced the completion of its acquisition by Vista Equity Partners in an all-cash transaction valued at approximately $2.6 billion, or $19 per share. “We are excited to commence our partnership with Vista Equity Partners …
Russia Still Uses Western Insurance for Half of Tanker Fleet That Exports Its Oil
Russia still relies on Western insurers to cover more than half of the tanker fleet that exports its oil, according to data compiled by Bloomberg, and the country’s energy officials are voicing concerns about the situation. The Group of Seven …
Nashville School Shooting Spotlights Security at Private Schools
An alarm blared and lights flashed as a heavily armed assailant stalked the hallways of The Covenant School. Surveillance footage of the shooting Monday at the private Christian school in Nashville showed many familiar security measures, including the double set …
Delaware Waits to See If Governor Will Veto Marijuana Bills Passed by Lawmakers
The Delaware Senate gave final approval Tuesday to bills legalizing recreational marijuana use by adults in the state and authorizing the establishment of a state-licensed and regulated cannabis industry, setting up a potential battle with Democratic Gov. John Carney. The …
Crews in Kentucky Work to Recover Loose Methanol, Other Barges on Ohio River
Crews were working Wednesday to remove three remaining barges that got loose on the Ohio River, including one carrying methanol. A total of 10 barges got loose early Tuesday on the river near Louisville, the Kentucky Energy and Environment Cabinet …
South Carolina Supreme Court Clarifies Law on Uninsured Motorists, Liquor Liability
The South Carolina Supreme Court on Wednesday handed down three opinions that resolve two questions about insurance law. One decision will probably disappoint auto insurers; another will please carriers in the liquor liability line. In two separate decisions, the high …
Philips Expects to Reach Settlements This Year for Global Recall of Respiratory Devices
Dutch health technology company Philips expects to reach settlements this year relating to its global recall of respiratory devices, CEO Roy Jakobs said in an interview with Dutch financial daily FD published on Thursday. “I think we can at least …
Arkansas Sues TikTok, Meta Over Child Safety, Privacy Claims
LITTLE ROCK, Ark. (AP) – The state of Arkansas sued TikTok and Facebook parent Meta on Tuesday, claiming the social media companies were misleading consumers about the safety of children on their platforms and protections of users’ private data. The …
Typhoon-Prone Philippines to Launch Insurance Plan for Infrastructure Losses
The Philippines is readying an insurance plan that will protect the Southeast Asian nation from infrastructure losses caused by natural disasters, seeking to better respond to climate change risks. The government will put in place a national indemnity insurance program …
At Trial, Minnesota Says Juul Targets Kids
MINNEAPOLIS (AP) – Minnesota Attorney General Keith Ellison personally opened his state’s case against Juul Labs on Tuesday, accusing the e-cigarette maker of using “slick products, clever ads and attractive flavors” to hook children on nicotine as the first of …