INSURANCE NEWS
Texas DWC Accepting Public Comments on Changes to Medical Exam Form
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on proposed changes to DWC Form-022, Request for a required medical examination (RME); DWC Form-031, Request to change payment period or purchase an annuity for death …
People Moves: Goodwin to Lead Marine Underwriters of America’s new Marine Claims Department
Goodwin to Lead Marine Underwriters of America’s new Marine Claims Department Marine Underwriters of America, a DOXA Insurance company and premier underwriter of ocean marine, inland marine and related properties, has hired Dustin Goodwin as the head of the new …
Norfolk Southern Promises $7M for Pennsylvania Communities Affected by Ohio Train Derailment
Norfolk Southern has promised to pay $7 million in relief to Pennsylvania communities affected by last month’s train derailment over the border in East Palestine, Ohio. Pennsylvania Gov. Josh Shapiro called the commitment “a starting point” and said he will …
Latest Ohio Train Derailment Poses No Public Risk, Officials Say
SPRINGFIELD, Ohio (AP) – Authorities in Ohio say there is no indication of any risk to public health from the derailment of a Norfolk Southern cargo train between Dayton and Columbus, the second derailment of a company train in the …
Univ. of Iowa Football Race Bias Suit Nears Settlement With Tax Money
A proposed settlement for more than $4 million has been reached in the lawsuit brought by former Iowa football players who alleged racial discrimination in coach Kirk Ferentz’s program. The office of State Auditor Rob Sand disclosed the proposed settlement …
Insurance Leaders Gather for Discussions on Charitable Giving, Impact of Initiatives
The Insurance Industry Charitable Foundation (IICF) recently hosted its 2023 IICF Media Roundtable. The March 2 event gathered leaders from 24 leading insurance organizations for a series of presentations focused on the state of charitable giving in the insurance industry …
JetBlue’s $3.8 Billion Spirit Deal Challenged in DOJ Antitrust Suit
The US Justice Department challenged JetBlue Airways Corp.’s $3.8 billion acquisition of Spirit Airlines Inc. Tuesday, filing an antitrust lawsuit seeking to block the deal. In a complaint filed in federal court in Boston, the Justice Department said the combination …
Should a State Surcharge P/C Insurers That Write Fossil Fuel Risks?
Connecticut lawmakers are considering imposing a surcharge on property/casualty insurers’ premiums from the fossil fuel industry. The proposal (SB-1115) calls for a tax of 5% of any property/casualty premiums any insurer licensed in the state receives from fossil fuel companies …
Yellen Warns Climate Change Could Trigger Asset Value Losses, Harming Economy
Climate change is already having a major economic and financial impact on the United States and may trigger asset value losses in coming years that could cascade through the U.S. financial system, Treasury Secretary Janet Yellen will warn on Tuesday. …
Aspire General Insurance Expanding into Arizona
Rancho Cucamonga, California-based Aspire General Insurance Co. is expanding into the Arizona marketplace. According to Tyler Nicholson, vice president of marketing at Aspire General, the move into Arizona is the first state in an aggressive state expansion plan. Aspire General …
Swiss Re Closes $700M Alternative Capital Deal, Enabling Growth in Favorable Market
Swiss Re has closed a US$700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan in April 2022, which was the first of its kind to combine …
Head of UK Employer Group CBI Steps Aside Over Allegations
The Confederation of British Industry said on Monday that its director-general, Tony Danker, had stepped aside while the employer body conducted a review into his behavior. The CBI said it had already conducted an internal investigation into Danker’s workplace behavior …