INSURANCE NEWS
Connecticut Insurance Firm Owner Pleads Guilty in $40M Fraud Scheme
The owner and manager of a Connecticut insurance firm pled guilty this week in White Plains federal court to conspiracy to commit wire fraud and bank fraud, according to prosecutors. Between 2015 and 2019, Anthony Riccardi, and his co-conspirators used …
California High Schoolers to Learn Insurance Under Mandatory Finance Education Bill
How many adults not in the insurance industry can explain the risks financial loss and how insurance shares that risk, or identify factors impacting insurance premiums and grasp the relationship between premiums, deductibles, and coverage limits? How many can state …
Scott Kipper Returning as Nevada’s Insurance Commissioner
Scott Kipper will become the Insurance Commissioner at the Nevada Division of Insurance for the third time. Department of Business and Industry Director Terry J. Reynolds named Kipper to the role on Tuesday. His appointment to head the DOI is …
Ohio Tool Manufacturer Fined $164K After Worker’s Thumb Amputated
In less than two years, three workers at a leading tool manufacturer in Barberton suffered injuries from unguarded machinery. The latest injury occurred on Oct. 26, 2022, when a worker suffered a left thumb amputation while hand-feeding parts into a …
Baton Rouge, La. to Pay $1.17M Settlement in Alton Sterling Protest Lawsuit
ATON ROUGE, La. (AP) – The city of Baton Rouge will pay a $1.17 million settlement to 14 people who accused local law enforcement of using excessive force and violating their First Amendment rights at a protest over Alton Sterling’s …
Train Derailments in Michigan, Ohio Have Similar Risks, Different Outcomes
TRAVERSE CITY, Mich. (AP) – Police Chief Jason Wright feared the worst as he rushed to the scene of a freight train derailment in Michigan’s Van Buren Township, mindful of a fiery rail crash this month in Ohio that led …
Tesla Fatal Crash With Fire Truck Draws Regulator Inquiry
The US National Highway Traffic Safety Administration asked Tesla Inc. for more information about one of its vehicles colliding with a fire truck in a fatal crash in the San Francisco Bay area. The agency reached out to the manufacturer …
Louisiana Insurance Commissioner Accuses Hurricane Claim Law Firm of Fraud
Louisiana Insurance Commissioner Jim Donelon announced Friday that his department issued a cease-and-desist order to McClenny, Moseley & Associates, a Houston-based law firm that filed more than 1,500 hurricane-damage lawsuits in the state — many which duplicated filings made by …
Higginbotham Looks Back at 75 Years as Independent Agency
When Paul C. Higginbotham founded his namesake insurance agency in 1948, he never could have imagined the Fort Worth, Texas company would grow into one of America’s top independent property/casualty agencies. Started as a personal insurance brokerage firm in Fort …
J&J Rejected by Supreme Court Over $302 Million Vaginal-Mesh Award
The US Supreme Court rejected a Johnson & Johnson appeal, leaving intact a $302 million award against the company for misrepresenting the risks of vaginal-mesh implants to California consumers. The rebuff is a victory for California, the first state to …
Supreme Court Begins Hearing Challenge to Internet Firms’ Legal Shield
The U.S. Supreme Court on Tuesday began hearing arguments in a major case that could weaken a legal shield that protects internet companies from a wide array of lawsuits in a dispute involving YouTube and the family of an American …
Root Granted Restraining Order Against Former CMO it Says Stole About $10M
A U.S. district judge has granted a motion for a temporary restraining order requested by Root Inc. against its former chief marketing officer to prevent him, his companies, or associates from selling or transferring any properties or possessions Root has …