INSURANCE NEWS
Safety Agency Confirms Another Air Bag Death, This one in Kentucky
A U.S. auto safety regulator on Friday said it had confirmed a new crash death from a faulty air bag in a Honda car, as it urged owners to get recall repairs completed. The National Highway Traffic Safety Administration (NHTSA) …
Abu Dhabi’s ADQ Leads Consortium to Buy Stake in Israel’s Phoenix Group
A consortium led by Abu Dhabi state holding firm ADQ are in advanced negotiations to acquire a controlling stake in Israeli financial firm Phoenix Group in a deal that values the company at around 9.2 billion shekels ($2.70 billion), the …
Three Children Killed in North Carolina House Fire
Three children under the age of 5 are dead and their mother was taken to a hospital after a house fire in North Carolina on Monday morning, authorities said. Greensboro Deputy Fire Chief Dwayne Church says firefighters called to a …
Risk Strategies Acquires Worldwide Assurance Agency in Miami
Risk Strategies, national specialty insurance brokerage and risk management firm, has acquired Miami-based Worldwide Assurance Inc., a retail life, health and benefits agency. Worldwide was founded in 2012 and has grown rapidly in recent years, its president, Osvaldo Gonzalez III, …
Meta Platforms Accused in Kenyan Lawsuit of Amplifying Hate Speech in Africa
Meta Platforms Inc. is facing a lawsuit in Kenya’s high court accusing the company of failing Africans by amplifying hate speech and incitement to violence on Facebook and calling for about $2 billion in restitution. The case has been filed …
Underwriting the Transition: Chaucer, Moody’s Break New Ground With ESG Scorecard
As corporations increasingly navigate the environmental, social and governmental (ESG) landscape, they require tools and benchmarking to help them meet their ESG targets. After all, regulators are moving to enforce disclosure requirements. According to Chaucer, a Lloyd’s insurer and reinsurer, …
Climate Change Could Cost Pension Funds Billions of Euros: EU Watchdog
Pension funds across the European Union would lose billions of euros from their investments in polluting industries without action to mitigate the impact of climate change, the bloc’s first stress test of its kind showed on Tuesday. The European Insurance …
Taylor Swift, songwriters agree to end ‘Shake It Off’ copyright case
Two songwriters have dropped their lawsuit claiming Grammy-winning musician Taylor Swift copied their lyrics in her 2014 number-one hit “Shake It Off,” according to court documents filed on Monday. Sean Hall and Nathan Butler told a Los Angeles federal judge …
Google Defeats One Suit Over Chrome Data Privacy Practices
Alphabet Inc.’s Google defeated a privacy lawsuit by consumers who accused the company of snooping on them even after they opted out of sharing their web activity. US District Judge Yvonne Gonzalez Rogers on Monday dismissed claims that Google tracked …
Independent Adjusters Charge Florida Insurers With Doctoring Damage Estimates
Do some Florida property insurance companies hire independent adjusters to inspect property claims, then routinely alter their inspection reports to reduce estimated losses? Yes, and it’s a widespread and fraudulent practice, according to three adjusters who spoke Tuesday at a …
People Moves: EverQuote’s Bishop Joins Plymouth Rock; Gada Joins Alliant in New Jersey
Plymouth Rock Home Assurance Names Bishop as Vice President and Chief Marketing Officer Plymouth Rock Home Assurance Corp. recently appointed Peter Bishop as vice president and chief marketing officer. Bishop joins Boston, Massachusetts-based Plymouth Rock from EverQuote. He will be …
AM Best Downgrades Mid-Hudson Group
Insurer analysts at AM Best have downgraded the ratings of three companies in the Mid-Hudson Group citing a 32.7% decline in policyholder surplus as of September 30. AM Best downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- …