INSURANCE NEWS
ID.me’s Claim on Scope of Unemployment Fraud Baseless, U.S. Congress Says
Government contractor ID.me, which checks the identity of benefits applicants, had no basis for its claim that almost half of unemployment aid during the pandemic was lost to fraud, U.S. congressional investigators said on Thursday. A pair of House of …
‘Wave’ of Lawsuits Over FTX Expected, but Investors Will Face Legal Hurdles
A lawsuit by FTX account holders in the United States is likely the first of many that will be brought over billions of dollars in losses on the cryptocurrency exchange, though the cases will face obstacles including proving that U.S. …
Florida Appeals Court Upholds Dismissal of 16 Auto-Glass AOB Suits vs. Progressive
A Florida appeals court has upheld the dismissal of no fewer than 16 auto glass assignment-of-benefits lawsuits against Progressive Insurance companies, perhaps putting an exclamation point on the enforceability of appraisal clauses and policy language that bars claims litigation. The …
New York Declares State of Emergency as Upstate Braces for Intense Snowstorm
New York Governor Kathy Hochul on Thursday declared a state of emergency for 11 counties as a winter storm is forecast to slam the Buffalo area and other upstate counties with intense “lake effect” snow through Sunday. The most significant …
Hilb Group Acquires Maryland’s Vinton Insurance Services
The Hilb Group announced that it has acquired Towson, Maryland-based Vinton Insurance Services, building on the company’s growing presence in the Mid-Atlantic region and further expanding its employee benefits business. Peter Vinson and his team will join with Hunt Valley, …
NHTSA Confirms New Ford Death Due to Faulty Air Bag Inflator
U.S. auto safety regulators on Thursday confirmed a new death tied to a defective air bag inflator in a 2006 Ford Ranger pickup and reiterated urgent calls for owners to get their vehicles repaired. Chrysler parent Stellantis earlier this month …
Worker who Inhaled CO2 in Los Angeles Airport Accident Dies
LOS ANGELES (AP) – One of four workers who inhaled carbon dioxide in an accident at Los Angeles International Airport has died, his family said. Cris Abraham, 36, of Lomita died on Nov. 11 at a hospital where he’d been …
TDI to Hold Brown Bag Series on Dispute Resolution Process
The Texas Department of Insurance (TDI) will hold a brown bag series covering the dispute resolution process workers’ compensation system participants and the department’s hearing section. The brown bag series will feature TDI deputy commissioner of hearings Allen Craddock. He …
EPA Fines Kansas, Missouri Home Renovators for Lead-Based Paint Violations
Five home renovation companies in Kansas and Missouri have agreed to pay nearly $132,000 collectively in penalties to the U.S. Environmental Protection Agency (EPA) to resolve alleged violations of the federal Toxic Substances Control Act. According to EPA, the following …
Missouri’s M&T Insurance Agency Merges With Powers Insurance & Risk Management
M&T Insurance Agency recently merged with Powers Insurance & Risk Management, one of the largest family owned and operated independent insurance agencies in the bi-state region. M&T Insurance agency owner Mark Tomlin will continue to serve his clients in a …
Could Blockchain Make Data Integration a Reality for Insurers?
When most of us hear the word “blockchain,” we think about cryptocurrencies like Bitcoin. But could blockchain technology be used to enhance insurance processes? Tram Vo, CEO and founder of Mobility Open Blockchain Initiative (MOBI), sees the appeal. MOBI is …
Risk Strategies Acquires Texas’ Wallace Specialty
Risk Strategies, a national specialty insurance brokerage and risk management firm, announced it has acquired Wallace Specialty Insurance Group. Terms of the deal were not disclosed. Based just outside of Dallas in Richardson, Texas, Wallace Specialty was founded in 2012 …