INSURANCE NEWS
Texas Utility Regulators Propose Changes to Electricity Market
The winter storm that hit Texas in February 2021 strained the state’s electricity grid so much that power had to be cut to millions of homes and businesses to prevent the grid’s complete failure. At least 200 people died, many …
People Moves: Mikos-Benavides Joins J.M. Wilson; Omaha National Appoints Mackel CFO
J.M. Wilson Hires Mikos-Benavides as Assistant Transportation Underwriter J.M. Wilson, based in Portage, Michigan, has hired Jennifer Mikos-Benavides as assistant transportation underwriter in their Arlington Heights, Illinois office. Mikos-Benavides is responsible for assisting underwriters with a wide variety of new …
Tx. Metal-Plating Company Fined $292K After Workers Exposed to Dangerous Acids
A federal workplace safety investigation of an El Paso jewelry metal-plating finisher found the company again exposing workers to serious hazards, including willfully failing to protect people working with dangerous acids and other chemicals from potentially permanent eye injuries. The …
South Carolina Man Admits to Burning His Car, Filing False Insurance Claim, DOI Says
South Carolina authorities have charged a man with insurance fraud after he reported his vehicle was stolen, then admitted to setting it on fire. Rusty Dale Peeples, 46, was arrested Feb. 24, charged with making a false insurance claim and …
Ryan Specialty Posts 54% Jump in Q4 Net Income
Ryan Specialty reported a 54.6% increase in fourth quarter net income to the same period the prior year, while revenue outpaced Q4 2021 by 14.9%. The Chicago, Illinois-based specialty insurance firm reached fourth quarter net income of $45.8 million, compared …
Exxon Broke Rules With Late Reporting of Methane Leak
Exxon Mobil Corp. failed to initially report a release of the super-potent greenhouse gas methane in the Permian Basin that occurred in early February, violating state rules. The incident at the company’s facility in New Mexico was reported after it …
Architects & Engineers Insurers Seek More Rate Increases: Ames & Gough
According to a new survey from specialty broker Ames & Gough, insurers of professional liability for architects and engineers are planning additional rate increases to keep pace with rising claims costs, a backlog of litigation, worker shortages, and supply chain …
Federal Court Denies Massachusetts Hospital’s Covid-19 Business Insurance Claim
A Massachusetts hospital has been denied its insurance claims for Covid-19 related costs and lost revenues under business interruption and disease contamination provisions of its property insurance policies. U.S. District Judge Nathaniel M. Gorton of the federal court in Boston …
Kentucky Man Dies in WV Coal Mine, First U.S. Mining Fatality This Year
A coal miner has died in an incident in a southern West Virginia mine, Gov. Jim Justice said. William Mapes, 73, of Freeburn, Kentucky, died Sunday, Justice said Sunday in a news release. Mapes had 53 years of mining experience …
Alabama Insurance Agent Charged with $600,000 in Fraud, Elder Exploitation
Authorities have charged an Alabama insurance agent, who formerly worked for Alfa Insurance, with more than $600,000 in fraud, theft and exploitation of the elderly. Bret Chappell, 43, of Warrior, Alabama, was arrested Monday and booked into the Blount County …
Apple Supplier Foxlink ‘Working Hard’ to Resume Production After India Fire
Taiwanese Apple Inc. supplier Foxlink said on Wednesday it is working hard to resume production following a fire at a plant in southern India that halted operations at the maker of iPhone charging cables, sending its stock price down. The …
Former Oregon State University Dean Wins $600K Whistleblower Lawsuit
A jury has awarded over $600,000 to a former Oregon State University dean who sued the school for whistleblower retaliation. University officials disagree with the verdict issued earlier this month and plan to appeal, Oregon Public Broadcasting reported. Grace Kuo, …