INSURANCE NEWS
Aging Shadow Fleet, Shipping Russian Oil, Poses Disaster Risk
The oil tanker Turba normally should have been melted down by now. The 26-year-old vessel hasn’t had a full inspection since 2017, according to a database dedicated to promoting safe shipping. It also lacks industry standard insurance and sails under …
D&O 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions uncertain, the line is under pressure. Fitch delivered the conclusion …
WCRI: Emergency Room Use by Injured Workers Varies Widely by State
PHOENIX — Nearly a third of injured workers in Massachusetts sought treatment for strains and sprains in a hospital emergency room, while in California and Nevada only 10% did, according to a study by the Workers’ Compensation Research Institute. That …
Hyundai, Kia Warn 570,000 US Owners to Park Due to Fire Risk
Hyundai and Kia are recalling just over 570,000 U.S. vehicles over fire risks and urged owners to park outside and away until getting repairs. The automakers said some vehicles with a tow hitch harness could catch fire due to a …
Fla. Unlicensed Roofing Contractor Charged After Soliciting Homeowners, Shirking Workers’ Comp
Florida authorities on Friday charged a man with unlicensed contracting, insurance fraud and failing to obtain workers’ compensation coverage on his workers, after he solicited Tampa-area homeowners for roof replacement work. John Sutton, doing business as Kaizen Construction Group, had …
Tornadoes Wipe Out Parts of Mississippi Towns, Leave 25 Dead
A powerful tornado tore through the Mississippi Delta on Friday night, killing at least 25 people, injuring dozens and causing widespread property damage. The weather system produced hail the size of golf balls and left entire blocks of towns virtually …
Pennsylvania School District Sues Norfolk Southern Over Ohio Train Derailment
A Pennsylvania school district serving students in two counties is suing the Norfolk Southern Railway over the railway’s February 3 toxic train derailment in nearby East Palestine, Ohio. The complaint filed by Blackhawk School District accuses the railway of negligence …
People Moves: PCF in Utah Names Gray Vice President of Treasury
PCF Insurance Services in Lehi, Utah, named Brandon Gray to the newly created role of vice president of treasury. Gray leads investment strategies, treasury operations and financing activities and provides treasury-related acquisition due diligence and integration support. He also monitors …
Fire Destroys 5 Beachfront Homes in Boston Suburb
SCITUATE, Mass. (AP) – A massive fire has destroyed five homes and damaged three others in a beachfront neighborhood in Scituate. The fire broke out Friday night near Minot Beach. No injuries have been reported. The American Red Cross of …
California May Punish Oil Companies for High Gas Prices
A first-in-the-nation bill to punish oil companies for profiting from price spikes at the pump breezed through the California Senate on Thursday at the urging of Democratic Gov. Gavin Newsom, the first major vote in an effort to pass the …
Environmental Groups Say Texas Isn’t Holding Polluters Accountable
More than 21,000 unexpected pollution releases by Texas companies have released over 400,000 tons of air pollution in Texas from 2016 to 2022, and companies in less than 1% of these cases have been forced by the Texas Commission on …
Wisconsin High Court: UI Insurer Can’t Deduct Money That Was Paid but Reimbursed
Wisconsin law allows insurers to deduct from their liability any amounts paid for the same injury by a worker’s compensation carrier, but does that include amounts that are paid and later reimbursed? Secura Supreme Insurance Co. argued that repayment makes …