INSURANCE NEWS
New York Lawmakers Approve Bill Removing Medical Debt From Credit Reports
Hospitals and other health care providers in New York would be banned from reporting medical debt to credit agencies under a bill passed this week by the state’s legislature – a measure intended to limit the damage that illness and …
Oregon Climate Change Lawsuit Seeks $50B, Citing 2021 Heat Wave
An Oregon county on Thursday sued Exxon XOM.N, Chevron CVX.N, other major oil and coal companies, and industry groups, seeking over $50 billion to counter the harms caused by extreme weather fueled by climate change. Multnomah County said in the …
Washington Rule Requires Insurers to Tell Policyholders Why Their Premium is Going up
Washington Insurance Commissioner Mike Kreidler adopted a rule requiring insurers to explain premium increases to their policyholders “in language they can understand.” “If your insurance company is going to increase your premium, you have a right to know why,” Kreidler …
Houston Men Charged With Burning Down Medical Center Under Construction
A 38-year-old Houston, Texas man is in custody on charges of maliciously using explosive materials resulting in physical injury and conspiracy to do so. Authorities arrested Jason Vernon Rogers on June 13. Truong Quoc Duong, 52, remains in custody on …
Insurance Qualified Acquires Michigan’s Groundspeed Analytics
Insurance Quantified, a commercial P&C underwriting technology provider, announced it has acquired Ann Arbor, Michigan-based Groundspeed Analytics, an ingestion and data solutions provider for the commercial P&C industry. The combination strengthens Insurance Quantified’s market leadership in underwriting technology and furthers …
Illinois Pizza Manufacturer Fined $2.8M After Sanitation Worker’s Death
The operator of a specialty frozen pizza manufacturing plant in Illinois could have prevented the death of a 29-year-old sanitation worker by following proper machine safety procedures, a federal investigation has found. Inspectors with the U.S. Department of Labor’s Occupational …
New York Law Protecting Warehouse Workers From ‘Unreasonable Quotas’ Goes Into Effect
Legislation aimed at protecting New York warehouse workers from “unreasonably demanding work quotas” is now in effect. New York Governor Kathy Hochul said the Warehouse Worker Protection Act includes new requirements for distribution centers to disclose work speed data to …
Disaster Declaration Sought for UP Counties After Flooding From Spring Snowmelt
LANSING, Mich. (AP) – Michigan Gov. Gretchen Whitmer has asked President Joe Biden to declare a major disaster declaration for five Upper Peninsula counties impacted earlier this year by flooding due to record spring snowmelt. A presidential declaration would activate …
North Texas Tornado Kills At Least Four People
At least four people are dead and nine are injured after a tornado hit Matador, a small town of nearly 800 people northeast of Lubbock, late Wednesday night. The tornado was brought on by several severe storms in the region. …
FDIC Says Tougher Rules Coming for Banks Over $100B in Size
The head of the Federal Deposit Insurance Corporation said Thursday that bank regulators are considering applying an upcoming set of stricter capital rules to banks with over $100 billion in assets. FDIC Chairman Martin Gruenberg said in a speech the …
Appeals Court Upholds Lindberg Fraud Judgment But Orders Damages to Be Determined
Former insurance executive and businessman Greg Lindberg was found liable for fraud in 2022 in connection with his insolvent insurance companies, but the North Carolina county court did not award damages. Lindberg appealed. But so did four of his former …
People Moves: BMS Re Names O’Brien as VP in Bermuda; Guy Carpenter Appoints Howden Tiger’s Warwick as Head of GC Access Asia Pacific
This edition of International People Moves details appointments at reinsurance brokers BMS Re and Guy Carpenter. A summary of these new hires follows here. BMS Re Names O’Brien as VP in Bermuda BMS Re, the specialty reinsurance arm of the …