INSURANCE NEWS
FDA Classifies Recall of J&J’s Electrosurgical Tools as Most Serious
The U.S. Food and Drug Administration (FDA) on Tuesday classified the recall of certain electrosurgery tools manufactured by a Johnson & Johnson unit as “most serious,” saying their use could lead to injuries or death. The U.S. health regulator said …
Appeals Court Revives Lawsuit Against Royal Caribbean Over Toddler’s Death
A federal appeals court on Tuesday revived a lawsuit against Royal Caribbean Cruises by the parents of an 18-month-old girl who died after slipping through her grandfather’s hands and falling through an open cruise ship window. The 11th U.S. Circuit …
Water Damage Exclusions, on the Rise, May Frustrate Insureds But are OK, Court Says
A federal appeals court has affirmed a lower court ruling that a Scottsdale Insurance commercial policy for a community center excludes almost all non-weather water damage. It’s the type of “infuriating” exclusion that plaintiffs’ attorneys and some brokers have said …
$12M in Fines Isn’t Enough to Stop Jersey Shore Town From Bulldozing Its Beach
Not even $12 million worth of fines is enough to stop a Jersey Shore town from bulldozing sand on its beach to bolster eroded spots in defiance of state environmental officials. The New Jersey Department of Environmental Protection says North …
People Moves: LP Insurance Services in Nevada Names Steelman COO
LP Insurance Services, headquartered in Reno, Nev., promoted Trinity Steelman to chief operating officer. Founding COO, Joe Wyatt, retired on July 1. Steelman is responsible for the daily operations throughout the LP Insurance footprint. She continues to lead the employee …
Agent’s Failure to Disclose Dog Comes Back to Bite Homeowner
A Connecticut homeowner who is being sued by a woman who alleges his dog bit her in the face is not entitled to insurance coverage because his home insurance application, which was completed by his insurance agent, indicated he did …
BREAKING: Farmers Insurance Further Reducing Florida Business
One month after it announced it would stop writing new homeowner policies in Florida, Farmers Insurance now says it plans to cut back further on its presence in the hurricane-prone state. The Florida Office of Insurance Regulation said Tuesday that …
Minor Quakes Rattle Parts of East Tennessee, Virginia
Multiple, minor earthquakes have been reported in western North Carolina in recent months but now they’re being felt in Tennessee and Virginia, the U.S. Geological Survey has reported. A 2.2-magnitude quake happened Friday evening near Sevierville, in eastern Tennessee, not …
Gensler Asserts SEC Authority Over Crypto as Opponents Waver
Gary Gensler’s Securities and Exchange Commission is filling the crypto regulatory void, and the industry and its backers on Capitol Hill have so far been unable to check him. The tide was supposed to turn when Republicans gained control over …
People Moves: Stephens Names Alabama-based Green Head of Cyber Risk
Stephens Insurance LLC has named Mark Green, of Alabama, as senior vice president for cyber risk, the company announced. Stephens, headquartered in Little Rock, Arkansas, said Green has more than 20 years of experience in the insurance business, most recently …
People Moves: WTW Names Mascaro Hospitality Leader; Leach SVP, Founder of K2 Financial US Ops; MEMIC Hires Underwriters
WTW announced the appointment of Juan Mascaro as hospitality segment leader, a part of the Real Estate, Hospitality, and Leisure Division within Corporate Risk and Broking (CRB), North America. Mascaro has more than two decades of insurance industry experience in …
12 Southern California Homes Evacuated After Ground Shifts
Twelve homes were evacuated in a Los Angeles-area city after a major ground shift put them at risk of collapse, officials said. Janice Hahn, chair of the Los Angeles County Board of Supervisors, visited Rolling Hills Estates, a city 19 …