INSURANCE NEWS
Louisiana Court to Hear Appeal of Rare Policyholder Victory in COVID Claim
The Louisiana Supreme Court has agreed to review an appellate court decision that found the COVID virus caused a direct physical loss that was covered by insurance. The Louisiana high court announced Tuesday that it will take up an appeal …
Ohio Dollar General Operator to Pay $341K in OSHA Penalties
When federal workplace safety inspectors opened an investigation at a Dollar General store in Columbus, they discovered violations that were all-too-familiar and the kind that has led to more than $15 million in proposed penalties since 2017 for one of …
Suspect Sought After 4 Killed at Oklahoma Marijuana Farm
LACEY, Okla. (AP) – Authorities have “a suspect in mind” after four people were found dead and one injured at a marijuana farm in rural Oklahoma, but no arrests have been announced. Oklahoma State Bureau of Investigation Capt. Stan Florence …
Indiana Man gets 50-year prison sentence for Indiana barn fires
GOSHEN, Ind. (AP) – A man who pleaded guilty to torching several barns last year in a northern Indiana county was sentenced Monday to 50 years in prison followed by decades on probation. An Elkhart County judge sentenced Joseph Hershberger …
Safety Agency Says Wing Broke Before Plane Crash in Washington
A wing from a Cessna 208B broke away before the plane crashed Friday into a field northeast of Seattle, killing the four people on board, the National Transportation Safety Board said. The NTSB said the wreckage has been recovered and …
Oregon Hemp Plant Fire Injures 5, Town Temporarily Evacuated
A small town in central Oregon was evacuated and five people were hurt due to a hemp manufacturing plant fire Sunday. The Sherman County Sheriff’s Office said five employees were burned in the blaze, including one who suffered significant burns, …
Q3 Combined Ratio for U.S. P/C Industry Highest in 5 Years
The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter – the highest in five years, according to an analysis by S&P Global Market Intelligence. “In addition to the effects of catastrophe losses on various …
Lindberg’s Investment Firm Objects to Liquidation of His Former Insurance Companies
An investment group founded by embattled insurance executive Greg Lindberg has filed an objection to North Carolina regulators’ plan to liquidate two of Lindberg’s insurance companies, arguing that the companies could be sold and benefits paid quickly. “We deeply disagree …
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium rate rises for property catastrophe cover in 2023, driven …
Could Recent NotPetya Case Outcomes Pressure Insurers to Reword War Exclusions?
With recent news of multinational food and beverage company Mondelez International settling its lawsuit against its insurer Zurich American Insurance Company over the company’s NotPetya claims, conversation has continued around what this could mean for war exclusion language and definitions …
New York Expects Lifting of Deadline to Bring Wave of Claims by Adult Sex Abuse Survivors
Sexual assault victims in New York will get a one-time opportunity to sue over their abuse starting Thursday, under a new law expected to bring a wave of allegations against prison guards, middle managers, doctors and a few prominent figures …
Widow Asks $55M From NCAA for Football Player’s Death
Attorneys asked a jury Monday to award $55 million to the widow of a former USC football player, in a landmark case accusing the NCAA of failing to protect him from repetitive head trauma that led to his death. Matthew …