INSURANCE NEWS
NFIP Now Providing Advance Payments for Flooded Policyholders Who Apply
The National Flood Insurance Program has approved a waiver that will allow some policyholders flooded by Hurricane Ian to receive advance payments of as much as $20,000 – with few strings attached. “The payments will get to the customer, but …
Howden Acquires French Marine Insurance Broker Seasecure Group
Howden, the London-based insurance broker, announced it has acquired Seasecure Group, the last remaining independent marine broker in France. Seasecure Group is one of France’s largest marine and cargo insurance brokers, and underlines Howden’s continued investment in expertise and desire …
Supreme Court Declines Connecticut Troopers’ Appeal of Personnel Disclosure Law
The U.S. Supreme Court on Monday declined to hear an appeal by the Connecticut State Police Union in its challenge of a police accountability law that allows public disclosure of certain state trooper personnel files and internal investigation reports. At …
Indiana Approves Decrease in Workers’ Comp Rates for 2023
Indiana Department of Insurance Commissioner Amy L. Beard recently approved a decrease of 10.3% on average for Workers‘ Compensation rates recommended by the Indiana Compensation Rating Bureau (ICRB), effective January 1, 2023. Individual employers may experience a rate change different …
Climate Activists Ask Insurers to Withhold Cover for Giant Australian LNG Project
Climate NGOs are calling on insurers to withhold coverage for a giant LNG project and hold firm to their net zero ambitions. Reclaim Finance and other organizations have sent letters to global insurers, including AXA SA, Allianz SE and Swiss …
Illinois Court: Insurers Cannot Exclude UIM Coverage for Bicyclists and Pedestrians
Auto insurance carriers must pay uninsured motorist benefits to insureds who are injured by motor vehicles while walking or bicycling, even if their policies explicitly provide coverage only to occupants of insured automobiles, an Illinois Appellate Court panel ruled. The …
Meta Could Face Hefty Fine as EU Probe Into Massive Data Leak Draws to Close
Meta Platforms Inc. could face a hefty fine as a probe by a key European Union privacy watchdog into the leak of the personal data of more than half a billion users last year draws to a close. The Irish …
5th Circuit Mulls Vaccine Mandate for US Contractors
A federal appeals court in New Orleans on Monday became the latest to hear arguments on whether President Joe Biden overstepped his authority with an order that federal contractors require that their employees be vaccinated against COVID-19. The contractor mandate …
Nebraska Wildfire Razes Camp, Prompts Evacuation
A wildfire that exploded in size in drought-stricken central Nebraska has destroyed much of a youth campsite and led officials to evacuate a nearby village. The Bovee Fire was initially reported as having burned around 100 acres early Sunday in …
Keystone to Add Bainswest Agencies in Oklahoma, Missouri
Keystone welcomed a group of Bainswest agencies from Oklahoma and Missouri to its network of growing agencies across the nation, effective January 1, 2023. Bainswest formed in Tulsa, OK in 1994. Bainswest ranks No. 18 in Insurance Journal’s Top 20 …
Ariel Re Obtains Approval to Launch Managing Agent at Lloyd’s
Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has obtained approval to launch a managing agent at Lloyd’s of London. The new managing agency, Ariel Re Managing Agency (ARMA), will assume the management of …
Frustration and Desperation Mount as Ian’s Effects Linger
Days after the skies cleared and the winds died down in Florida, Hurricane Ian’s effects persisted Monday, as people faced another week without power and others were being rescued from homes inundated with lingering floodwaters. Ten additional deaths were blamed …