INSURANCE NEWS
Reinsurance Execs From Convex, Swiss Re Set Pacific Record in World’s Toughest Row
Reinsurance executives from Convex Group Ltd. and Swiss Re completed The World’s Toughest Row, a race from California to Hawaii, breaking a world record as the fastest mixed-gender crew in history to complete the trip in 34 days, 8 hours …
Over 17,000 Policies Written Through Insure Louisiana Incentive Program
Insurance companies have written more than 17,000 policies through the Insure Louisiana Incentive Program as of May 31, Commission Jim Donelon announced last week. SafePoint Insurance and its affiliate Cajun Underwriters (CURE) have been approved to take another 20,000 policies …
NTSB Looking at Risk Parked Semis Posed to Greyhound Bus in Fatal Illinois Accident
ST. LOUIS (AP) – Big rig driver David Cherno was hauling Jimmy Dean sausages on Interstate 70 when he had to stop for the night or risk violating federal regulations limiting driving time for truckers. An Illinois rest area was …
Typhoon Doksuri Gains Power as It Threatens Philippines, Taiwan
Doksuri has strengthened further and may intensify into a super typhoon before a possible landfall in northern Philippines en route to Taiwan. The typhoon is moving westward “slowly” with maximum winds of 150 kilometers (93 miles) per hour and gusts …
People Moves: Embroker Names Jennings CEO
Embroker said it promoted Ben Jennings, the company’s chief revenue officer for the last four years, to chief executive officer. The digital business insurance platform said it conducted an extensive search for a new CEO. Founding CEO Matt Miller stepped …
Booz Allen Pays $377.5 Million to Settle US Civil Probe
Booz Allen Hamilton Holding Corp. said it will pay $377.5 million under a settlement agreement with the US Department of Justice to settle a civil investigation related to its cost accounting. The case is “one of the largest procurement fraud …
Auto Claims Inflation Speeds Ahead of Premium Increases
Insurance claims inflation has risen faster than the underlying consumer price index (CPI), outpacing auto insurance premium increases, according to a new study, Auto Insurance: The Uncertain Road Ahead, by the American Property Casualty Insurance Association (APCIA). The national trade …
Map Tool Gives Grim Look at Sea Level and Flood Impact on Coastal Areas
Many of the lowest-lying coastal areas of the Southeastern United States, including some heavily populated parts of Florida, will be subject to increased annual flooding in less than 30 years, according to scenarios mapped by a climate research organization. Under …
Florida Quelled Attorney Fees But WV Doctrine is Alive – With Limits
The Florida Legislature made national headlines late last year when it effectively curtailed one-way attorney fees and greatly limited plaintiffs’ fee multipliers in claims litigation. Property insurers celebrated the end to practices that they said had led to runaway legal …
LAAIA Names Diaz-Padron President, Elects Other Board Members
The Latin American Association of Insurance Agents has elected new a new board of directors for the term that lasts through 2025. At its 53rd annual convention this month in Hollywood, Florida, the association named Juan Carlos Diaz-Padron, vice president …
Missouri Chemical Plant Fined $393K for Safety and Health Violations
Less than two years after an investigation found dozens of serious safety and health violations at a Verona, Missouri chemical plant, workplace safety inspectors with the U.S. Department of Labor identified 16 violations, including those that put employees at risk …
Black Sea Shipping Traffic Drops 35% After Russia, Ukraine Warnings
The number of ships looking to pick up grain cargoes from the Black Sea area has fallen 35% this week versus the previous week with growing uncertainty over whether commercial traffic could be hit as Russia continues to pound food …