INSURANCE NEWS
Facebook Hit With $1 Million Fine Tied to User-Privacy Lawsuit
Facebook and its outside law firm were ordered to pay almost $1 million in sanctions for deceitfully denying that it shared users’ private information with third parties without permission. The fine is “loose change” for Facebook and Gibson Dunn & …
UK Government Seeks to Speed Up Post-Brexit Insurance Reforms
The UK government is in talks to speed the implementation of a flagship insurance reform to release £100 billion ($121 billion) of capital for investment, after months of clashes over the plans and frustration about the slow pace of change. …
Former Iowa Insurance Producer Sentenced for Fraud Scheme
Former insurance producer Oscar Sanchez of Marshalltown was recently sentenced in Marshall County District Court after pleading guilty to his actions in an insurance fraud scheme. Sanchez pled guilty on December 8th, 2022, to three counts of Insurance Fraud – …
Texas DWC Taking Comments on Proposed Rule Change to Update Insurance Code
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on a proposed rule to amend 28 Texas Administrative Code Section 165.1. The changes would add Texas Mutual’s physical address, update Insurance Code references, and make …
Zurich Insurance Reports Net Income of $4.6B in 2022, Down 12% From 2021
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12% decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital gains, net losses on divestment of businesses and …
Louisiana Opens Insurer Application Period for Incentive Program
Louisiana Insurance Commissioner Jim Donelon announced that the 30-day application period for insurance companies to apply for Insure Louisiana Incentive Program funding is now open. Insurance companies that are interested in participating can learn more and apply at ldi.la.gov/insurela. The …
People Moves: Aura Risk Management Names Morrison SVP; RYZE Claim Solutions Promotes Isaacs to EVP/CPO
Aura Risk Management Introduces Morrison as Senior Vice President Aura Risk Management & Insurance Services, a member of The Liberty Company Network of Insurance Brokers, has brought aboard Eric Morrison as senior vice president. Morrison will be leading efforts to …
Illinois Truck Parts Company to Settle $200K Sexual Harassment Suit
CHICAGO – Monro, Inc., owner and operator of more than 1,000 auto care locations across the country, will pay $200,000 and provide other relief to resolve a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the …
NFL Is Sued for ‘Systematic Bias’ in Denying Former Players’ Disability Claims
Three days before the Super Bowl, the National Football League faces a proposed class action lawsuit by former players who claim its disability plan prevents them from getting the treatment they need. Ten former pros allege in the suit, filed …
Insurance Office Of America Names CEO, President
Insurance Office of America (IOA) has appointed Jeff Lagos as CEO and Rob Motley as president in addition to their continuing roles on the IOA Board of Directors. Lagos has been president since 2003 of IOA, the fourth largest privately …
Insurers’ Claims File, Adjuster Notes Not Always Discoverable, Says Florida Appeals Court
Insurance companies in Florida may have to disclose their financial relationships with expert witnesses, but they don’t have to turn over their entire claims files and field adjusters’ notes, at least in some cases. Florida’s 4th District Court of Appeals …
Family Sues Fraternity for $28M Over Pledge’s Hazing Death
The family of a Virginia Commonwealth University fraternity pledge who died from alcohol poisoning in a 2021 hazing is suing the fraternity for $28 million. A police investigation found that Adam Oakes, a 19-year-old who had received a bid to …