INSURANCE NEWS
Insurance Journal, Carrier Management & Claims Journal Staffs Win Awards of Excellence
Wells Media Group publications, online, research and podcasts have won a total of nine 2023 Azbee Awards of Excellence from the American Society of Business Publication Editors (ASBPE). “Being recognized by our publishing peers is truly gratifying,” said Andrea Wells, …
Top Cyber Insurers: 2022 Ranking Reveals Sprinters, Market Share Shifts
In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent top-10 spots. Fitch compiled and …
Fla. Appeals Court Upholds Lawyer’s $104,000 Fine for Sabotaging Med Mal Trial
An attorney with one of Florida’s largest insurance defense firms must pay more than $100,000 in sanctions after deliberately trying to sabotage a medical malpractice suit in order to win a mistrial, a Florida appeals court has decided. The 6th …
Officials: 30 California Workers Getting $437K in from Food Company
California Insurance Commissioner Ricardo Lara and California Labor Commissioner Lilia Garcia-Brower on Monday announced the resolution of criminal charges filed against Golden Food Inc in a plea agreement in which the company admitted to a litany of labor violations, including …
APCIA: Illinois Bill Significantly Would Have Detrimental Impact
An Illinois bill allowing punitive damages in wrongful death cases will increase already high litigation costs, the American Property Casualty Insurance Association and the Illinois Insurance Association say. The groups issued the following statement in response to HB 219, addressing …
Washington Commissioner Fines Airbnb for Acting as Unauthorized Insurer
Washington Insurance Commissioner Mike Kreidler fined Airbnb $20,000 for acting as an unauthorized insurer in the state. Kreidler also ordered the vacation rental company to obtain a surplus lines insurance policy to continue offering its Host Damage Protection program in …
Florida Insurance Agent Convicted in $6M Ponzi Scheme that Defrauded Investors
A federal jury has found a Sarasota insurance agent and financial consultant guilty of defrauding elderly Floridians out of $6 million, money that the victims believed was going to fund a life insurance startup known as FastLife. Phillip Roy Wasserman, …
Property Insurer SageSure Turns ‘Unicorn’ After $250M Funding Round
SageSure became a “unicorn” after the U.S. property insurer raised $250 million in its latest funding round, a source familiar with the matter told Reuters. A unicorn is a startup that is valued at or above $1 billion. SageSure’s latest …
Low-Tech Cyber Attacks Took Advantage of Fixable Vulnerabilities in 2022: Coalition
Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders in 2022, according to a new report from Coalition. “Threat actors are forever looking for targets …
Worker Fatally Injured at Amazon Warehouse in Indiana
A worker died after being injured at an Amazon warehouse in Fort Wayne in an incident that closed the facility for the rest of the day, authorities said. Emergency medical crews were called to an Amazon Fulfillment Center about noon …
4 Killed in Michigan When SUV Crashes Into Highway Bridge Pier
An SUV slammed into a bridge pier along an interstate highway in Detroit, throwing four young men from the vehicle and killing them, state police said. The GMC Yukon was going fast when it hit the pier around 8 p.m. …
Damage from New Mexico Sinkhole Being Assessed
Authorities were assessing the damage after a sinkhole developed on a New Mexico bridge, resulting in the rescue of two pedestrians. Los Lunas police said the city’s Main Street bridge over the Rio Grande remained closed due to the sinkhole …