INSURANCE NEWS
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year. Speaking …
Study: Four Major Tipping Points Close to Triggering Hotter Temps
Even if the world somehow manages to limit future warming to the strictest international temperature goal, four Earth-changing climate “tipping points” are still likely to be triggered, with a lot more looming as the planet heats more after that, a …
Chubb in Advanced Bancassurance Talks With Hong Kong’s Hang Seng Bank: Sources
Chubb Ltd. is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter. The parties are hammering out the details …
Mexico Struck by Powerful 7.5 Magnitude Earthquake on Fateful Anniversary
MEXICO CITY – A magnitude 7.6 earthquake struck western Mexico on Monday on the anniversary of two devastating temblors, killing at least two people, damaging buildings, knocking out power and sending residents of Mexico City scrambling outside for safety. Two …
Uber Says Lapsus$-Linked Hacker Responsible for Breach
Uber Technologies Inc said on Monday a hacker affiliated with the Lapsus$ hacking group was responsible for a cyber attack that forced the ride-hailing company to shut several internal communications temporarily last week. Uber said the attacker had not accessed …
U.S. States Ask Appeals Court to Reinstate Facebook Lawsuit
A big group of U.S. states, led by New York, argued to an appeals court Monday that it should reinstate an antitrust lawsuit against Meta’s Facebook because of ongoing harm from the company’s actions and because the states had not …
Weachter Agency in Tampa Joins Renaissance Alliance
Tampa-based Rip Weachter Insurance agency has become part of the Renaissance Alliance, a rapidly growing national network of independent agencies. Rip Weachter, founded in 1989, offers personal lines, commercial lines, contractors’ liability, workers’ compensation and cyber insurance coverage, the companies …
Smart Choice Makes Tennessee Agency Its 22nd Acquisition
Smart Choice, a network of independent agents, has acquired Carriage Hill Insurance, an agency in Tennessee. The agency has $4 million in annual revenue, with offices in Lenoir City, Oak Ridge, Brentwood and Athens, Tennessee. The owner, Todd Henderson, now …
Trial Lawyers Back Republican in Florida House Race, Insurers Favor Democrat
In a twist of fate and a sign of the times, some Florida business groups are backing the Democrat in a state House race in the Tampa area, while trial lawyers are putting their weight behind the Republican challenger. The …
Virginia Commonwealth University Reaches Settlement With Hazing Victim’s Family
Virginia Commonwealth University will pay nearly $1 million to the family of a young man who died after a 2021 fraternity hazing incident as part of a recent settlement agreement. The agreement with the family of Adam Oakes also requires …
Court Rules In Favor of Officer in Oklahoma Teen’s Death Lawsuit
An appeals court ruling could mean the end of a federal lawsuit filed by the parents of a Black teenager who was naked and unarmed when he was shot and killed by suburban Oklahoma City police in 2019. Police said …
Louisiana Flood Victims Receive $95 Million Settlement 39 Years Later
Louisiana families and businesses in Tangipahoa Parish are a step closer to getting paid for flood damages in 1983 caused by the construction of Interstate 12. A $95 million payment was approved Friday by the Joint Legislative Committee on the …