INSURANCE NEWS
Trade Group Argues SEC Case Unfairly Labels Crypto as Securities
Cryptocurrency trade association Chamber of Digital Commerce is urging a federal court to dismiss a case brought by the U.S. securities regulator against ex-Coinbase employees accused of insider trading, arguing that the case unfairly labeled several crypto assets as securities. …
Proposed NC Rule Would Require More Flood History Disclosure on Homes for Sale
North Carolina home buyers may soon have access to more information about a property’s flooding history, a rule that could help insurance agents sell more flood insurance and other types of coverage. The state’s Real Estate Commission last week voted …
People Moves: AMERIND CEO Valdo Returns from Spiritual Sabbatical
AMERIND has announced the return of Chief Executive Officer Derek Valdo following a year-long religious leave as appointed spiritual leader (3rd War Chief) for the Pueblo of Acoma. Before his departure in January 2022, Valdo appointed Chief Operating Officer Robert …
California Wildfire Innovation Fund Getting $25M Boost
A California fund to encourage wildfire innovation and lower the severity and frequency of catastrophic wildfire is getting a $25 million boost. Walnut Creek, Calif.-based CSAA Insurance Group made a $25 million commitment to the California Wildfire Innovation Fund, a …
Madison Square Garden Loses Appeal of Covid-19 Insurance Claim Dismissal
A New York appeals court last week upheld the dismissal of Madison Square Garden’s Covid-19 business interruption claim against Factory Mutual Insurance Co. The court agreed with a New York County court’s dismissal in January, 2002 after it found that …
3 Massachusetts Firms to Pay $325K Over Asbestos Work at State University
A Waltham-based construction contractor, Devens-based plumbing contractor, and Woburn-based demolition company will pay up to $325,000 in civil penalties to settle allegations of illegal asbestos work during a renovation project at Fitchburg State University (FSU) in the spring and summer …
Hopeful Cannabis Sales Data an Encouraging Sign for Insurance Specialists
News has been rife with dreary tidings for the cannabis industry over the past year, but a surprisingly encouraging outlook has emerged among the persistent din of downward harbingers like a flower glut, investment funding shrinkage, and layoffs. Industry sales …
XPT Specialty Acquires Texas’ Craig & Leicht
XPT Specialty announced the acquisition of Texas-based wholesale agency Craig & Leicht. Founded by Amy Leicht-Craig and former TSLA president Matt Leicht, CIC, CPCU, ASLI, Craig & Leicht has earned a strong reputation for their multi-faceted experience in a wide …
People Moves: WTW Adds 2 Surety Experts in Northeast; Jones Heads Arbella Foundation
WTW Adds 2 Surety Experts in Northeast Broker WTW, headquartered in London, has made two leadership appointments to its North American Corporate Risk & Broking (CRB) surety business in the U.S. Tom Rhatigan has been appointed Northeast senior director and …
Arkansas Challenges EPA’s Blocking of State Ozone Plan
LITTLE ROCK, Ark. (AP) – Arkansas filed a lawsuit Thursday challenging the Environmental Protection Agency’s decision to reject its plan to comply with federal rules that are supposed to assure that the state’s coal-fired power plants and industrial sites don’t …
Two More La. Residents Sentenced in Staged Auto Collision Scheme
U.S. District Judge Sarah S. Vance sentenced New Orleans residents Herbert Allen,age 38, and Dion Ridley, age 23, after they pleaded guilty to Conspiracy to Commit Mail Fraud in violation of Title 18, United States Code, Section 371. Judge Vance …
Midwest Meat Plant Cleaning Service Fined $1.5M for Hiring Minors
MINNEAPOLIS (AP) – One of the country’s largest cleaning services for food processing companies employed more than 100 children in dangerous jobs at 13 meatpacking plants across the country, the U.S. Department of Labor said Friday as it announced over …