INSURANCE NEWS
Iowa Woman Sentenced to 3 Counts of Insurance Fraud
The Iowa Insurance Division (IID) announced Kathryn Hosmer, age 36, of Davenport was sentenced on May 18, 2023, after pleading guilty to three counts of Insurance Fraud – Presenting False Information (Class D Felony) following an investigation by the IID’s …
Families of Uvalde Victims Dig In for New Test of Gun Industry Protections
AUSTIN, Texas (AP) – After Mayah Zamora was shot and wounded at Robb Elementary School, her family did what many mass shooting survivors do: They sued. They sued the store off Main Street in Uvalde, Texas, that sold the teenage …
Travel Insurtech Faye Raises $10M in Series A Funding
Travel insurance startup Faye said it raised $10 million in series A funding just a year after launching its product in the U.S., bringing the company’s total funding to $18M. The round was led by Munich Re Ventures along with …
Special Trustee Appointed to Assist Clients of McClenny Moseley
The Louisiana Supreme Court appointed an attorney to take control of the “multitude of hurricane and storm-related” lawsuits filed in state courts by McClenny Moseley and Associates. In an order posted online Thursday, the high court named Edward J. Walters …
Italian Insurer Unipol and SpaceX Join Forces to Help People Hit by Flooding
Elon Musk’s SpaceX and Unipol Gruppo agreed to join forces to help people hit by flooding in northern Italy connect to the Internet, facilitating rescue operations, the Italian insurer said on Saturday. Torrential rains devastated the eastern side of the …
Markets/Coverages: Sapiens to Integrate OpenAI for Insurers; WTW’s New Product for Intangible Assets; 2 New Construction Programs at Procore
Sapiens International Corporation, a global provider of software solutions for the insurance industry, announced an agreement to integrate Microsoft Azure OpenAI Service to harness the most advanced generative AI models and tools for the insurance industry. Sapiens will integrate Microsoft …
Obie Raises $25M Series B to Expand Embedded Insurance Technology
Insurtech Obie announced it has raised $25.5 million in a series B funding round led by Battery Ventures, with participation from Brick and Mortar VC, DivcoWest, and several real estate funds and investor groups. “We’re excited to have the ongoing …
Widow of Bride Killed on Wedding Night Sues Driver, Carolina Bars
The alleged drunken driver who police say slammed into newlyweds riding along a South Carolina beach road now faces a wrongful death lawsuit alongside several establishments accused of overserving her on the night of the crash, which killed the bride. …
People Moves: Lockton Adds Allianz’s Caruso; Verdi Joins Alliant From Gallagher; Marsh McLennan Agency Names Moher; Bischoff Joins Harford’s IT
Lockton Appoints Caruso Financial Institutions Practice Leader in the Northeast Lockton, based in Kansas City, Missouri, has appointed Joe Caruso as its financial institutions practice leader in the Northeast. Caruso is based in New York, New York. Caruso brings 30 …
Alabama Lawsuit Shines a Light on Fee-Sharing Agreements for Storm Claims
Insurance defense attorneys say a pair of lawsuits filed by a law firm and a claims consulting business – against a national personal injury law firm – raises questions about the proper relationships between legal counsel and the professionals they …
New York Dairy Farm Workers Gain $150K in Unpaid Wages
A settlement in New York in a wage theft case has resulted in two dairy farm workers receiving nearly $150,000 in back wages. The New York State Department of Labor (NYSDOL) said its investigators found that Lewis County dairy farm …
World’s ‘Carbon Majors’ Face Biggest Share Price Hit From Climate Litigation: Study
The world’s ‘carbon majors’ in the energy, utilities and mining sectors face the biggest share price hit when climate-related lawsuits are filed against them and need to consider it a financial risk, a study on Tuesday showed. The paper by …