INSURANCE NEWS
Climate Change Leads to ‘Arctic Opening,’ Creating Key Emerging Risk: Swiss Re
Climate change is the cause of a key emerging risk identified by Swiss Re’s SONAR report, which is leading to the opening of previously frozen waterways in the Arctic and the creation of new shipping and trade routes. The economic …
California Sits Far atop National EV Policy Scorecard List
California ranked first in strengthening policies to enable widespread use of electric cars, trucks, and buses, according to a national scorecard out on Wednesday that gives most states poor grades. The 2023 State Transportation Electrification Scorecard from the American Council …
Global Initiative Launched to Rate Corporate Carbon Offset Claims
A standard to assess companies’ claims about progress towards internal climate targets and their use of carbon offset credits was launched on Wednesday by a global initiative seeking to bring transparency and confidence to an unregulated market. Many companies have …
TotalEnergies Faces Second Lawsuit Over Oil Projects in Uganda and Tanzania
Five activist groups have sued French oil major TotalEnergies for a second time over its projects in Uganda and Tanzania in a Paris civil court, they said on Tuesday, after an earlier fast-track attempt was dismissed in February. The French …
Anti-ESG Movement in U.S. Feeds Anxiety Among UK Investors
Investors in the UK are starting to worry that the anti-ESG movement may spread from the US and get a foothold on the other side of the Atlantic. The UK Sustainable Investment and Finance Association (UKSIF), whose members oversee more …
Regulatory Weaknesses, Politics Driving Marketplace Exits, Industry CEOs Say
A trio of property/casualty carrier executives voluntarily offered their views on a growing insurance availability crisis in a state like California at an industry conference last week, pointing to regulatory disconnects and political issues as drivers. “I have real question …
Georgia Laws on Ride-Share Insurance, Hospital Assaults Kick In July 1
Two Georgia laws take effect Saturday, July 1, that affect insurance for ride-share operators and, potentially, workers’ compensation claims from hospital workers. House Bill 529 lowers the minimum amount of uninsured and underinsured motorists’ coverage that ride-share companies must maintain. …
Georgia Agents Name Washowicz President
The Independent Insurance Agents of Georgia this month installed Woodstock agent Wendi Washowich as president. Washowich is a client executive at Hamby and Aloisio Risk Management and Insurance in Atlanta and has been active in the IIAG for years, the …
Travelers Must Pay $2M for Yacht Lost in Irma: Florida Law Bars ‘Technicality’ Denials
Travelers must pay a $2 million claim by the owner of a 92-foot-long yacht that was sunk by Hurricane Irma because Florida law does not allow insurers to deny claims based on inconsequential technicalities. A panel of the U.S. 11th …
Car Dealer Shielded From Liability in ‘Courtesy’ Car Accident
Massachusetts car dealerships that provide customers with a courtesy vehicle to use while their car is being repaired are protected by federal law from liability should the courtesy car be in an accident, despite a state law that presumes the …
Credit Ratings for New York Schools Insurance Reciprocal Downgraded
AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of New York Schools Insurance Reciprocal (NYSIR) in (Uniondale. The outlook of these …
Siemens and UCLA Say Data Compromised in MOVEit Data Breach
Siemens Energy and the University of California, Los Angeles (UCLA) said on Tuesday they were among victims of the MOVEit hack that has affected scores of corporations, governments and other institutions in recent weeks. The hackers behind the wide-ranging breach, …