INSURANCE NEWS
Keystone Adds Allbright & Duncan in Texas
Keystone Insurers Group added Texas agency Allbright & Duncan to its growing network of agencies in the state. Based in Odessa, Allbright & Duncan’s specialties include general liability, auto, workers’ compensation, property, equipment, umbrella, builder’s risk, and more. Allbright & …
Record-High Direct Premiums Written for the U.S. Surplus Lines Segment in 2021
Total U.S. surplus lines direct premiums written (DPW) reached a record $82.6 billion in 2021, with momentum continuing through mid-year 2022, according to a new AM Best report. In the first six months of 2022, premiums topped $31 billion, and …
Flash Flooding in Southern Indiana Kills 1, Damages Several Homes
A woman was killed during weekend flash flooding in rural southeastern Indiana that damaged numerous homes and washed away several roads, officials said. Normally small creeks were overwhelmed as perhaps eight inches of rain fell Saturday night in parts of …
Cleveland to Pay $540,000 to 12 Arrested in Racial Protests
Twelve people arrested while peacefully protesting in downtown Cleveland in 2020 following the murder of George Floyd will receive a $540,000 settlement from the city, according to an attorney for the protesters. Some of the 12 also received minor injuries …
Jury Awards $48.5M to Baylor Medical College for COVID Business-Interruption Claim
A Texas jury awarded the Baylor College of Medicine in Houston $48,529,961 for damages caused by COVID-19 in what appears to be the first jury verdict in a lawsuit that sought insurance coverage for lost business income and other damages …
State Farm Invests $1.2B in ADT; Adopts ‘Predict and Prevent’ Mindset
State Farm and ADT, a smart home provider, announced that State Farm will make a $1.2 billion equity investment in ADT, a move that will give the nation’s largest insurer a 15% ownership stake in ADT. The investment also heralds …
Wildfire Threatens Homes, Cabins Near Lake in Idaho
Roughly 200 people were told to evacuate and sheriff’s deputies were trying to track down campers and other recreationists after a wildfire exploded in Idaho’s scenic Sawtooth National Forest over the long holiday weekend. Lightning sparked the Ross Fork Fire …
Rains Insurance Acquires Sunbelt Agency in Tennessee
Rains Insurance Inc. has acquired the operating assets of Chattanooga-based Sunbelt Group, marking the first acquisition of an independent insurance agency by Rains. Rains, also an independent agency, is a subsidiary of Knoxville-based SmartBank, a commercial bank with operations in …
Judge Tosses Charge Against Dive Boat Owner in California Fire That Killed 34
A Los Angeles federal judge threw out an indictment charging a dive boat captain with manslaughter in the deaths of 34 people in a 2019 fire aboard a vessel anchored off the Southern California coast. The ruling came on the …
Huge Los Angeles Unified School District Hit by Cyberattack
The huge Los Angeles Unified School District’s information technology systems were targeted by an external cyberattack during the Labor Day weekend, officials said. Despite the disruption, schools in the nation’s second-largest district were scheduled to open as usual Tuesday morning, …
Pennsylvaina Auto Body Shop Owner Accused of $426K in False Insurance Claims
The owner of a Chalfont, Pennsylvania auto body repair shop submitted 289 false insurance claims over several years to four insurance companies, pocketing more than $426,000 in payouts, according to the Bucks County district attorney. District Attorney Matt Weintraub said …
Hartford President Doug Elliot to Retire
The Hartford said Doug Elliot will retire as the company’s president effective Dec. 31, after more than 11 years with the company. “Doug was instrumental in expanding the company’s suite of products, developing industry-specific verticals within our property/casualty business and …