INSURANCE NEWS
TWIA to Pursue $2.9B in Reinsurance for 2023 Storm Season
The Texas Windstorm Insurance Associated (TWIA) board of directors voted Thursday to authorize broker Gallagher Re to pursue $2.92 billion in reinsurance for the 2023 storm season. The TWIA board also voted to establish $4.5 billion as the 1:100 probable …
New Mexico DA Charging Baldwin, Armorer in Movie Set Death
New Mexico First Judicial District Attorney Mary Carmack-Altwies announced on Thursday that her office will file criminal charges in the “Rust” film-set shooting against actor and producer Alec Baldwin and armorer Hannah Gutierrez-Reed. Each will be charged with two counts …
U.S. EPA Seeking to Focus on Climate Mitigation
The U.S. Environmental Protection Agency is proposing adding mitigating climate change to its national focus over the next four years. The EPA on Thursday announced it’s considering adding environmental justice, climate change, and PFAS (Per- and polyfluoroalkyl substances, human-made chemicals …
Cable Company Subcontractor Dies After Fall From Bucket Lift in Maine
RANGELEY, Maine (AP) — A cable company subcontractor died after falling from a bucket lift that encountered utility wires while the vehicle was traveling on a road, officials said. The man was in the bucket, which was extended, when it …
TWIA to Determine Probable Maximum Loss for 2023 Storm Funding
The Texas Windstorm Insurance Association (TWIA) Board is meeting Thursday, Jan. 19 to determine funding for probable maximum loss (PML) for the 2023 storm season. TWIA is statutorily required to purchase enough reinsurance to meet the 1:100 year PML. Last …
Deaf Student’s Lawsuit at Center of Supreme Court Case
The Supreme Court on Wednesday will hear a case that could make it more difficult for students with disabilities to resolve problems quickly when they’re not getting needed assistance in public schools. The question for the justices involves a federal …
Kansas Insurance Dept. Recovers $7.6M for Policyholders
The Kansas Insurance Department announced it has recovered more than $7.6 million for Kansans in 2022, the largest single-year recovery in department history. Funds considered “recovered” are calculated when department staff assists individuals in need of support during their insurance …
FDA Charges Florida Pharma Supplier with Re-Selling Suspect Drug Ingredients
The U.S. Food and Drug Administration is asking a federal court to bar a Florida drug company from making or shipping any more adulterated pharmaceutical ingredients and products that do not meet quality control standards. In a lawsuit filed in …
Fewer Companies Are Paying Ransoms to Hackers, Researchers Say
Fewer companies that are infected with ransomware are coughing up extortion payments demanded by hackers, according to new research from Chainalysis Inc. In findings published on Thursday, the blockchain forensics firm estimated that ransom payments — which are almost always …
Ransomware Attack Closes 300 Yum Brands Eateries in UK for a Day
Yum! Brands, Inc. on Wednesday announced that a ransomware attack affected certain information technology systems. Almost 300 of its restaurants in the United Kingdom were closed for one day, but the company said all stores are now operational. Although data …
Fox Chief Rupert Murdoch to Be Deposed in $1.6B Dominion Defamation Case
Fox Corp. Chairman Rupert Murdoch is expected to be questioned under oath on Thursday and Friday in a defamation lawsuit over his network’s coverage of unfounded vote-rigging claims during the 2020 U.S. presidential election. Election technology company Dominion Voting Systems …
Insurers Agree to Extend ALE Coverage for Colorado Wildfire Survivors
Insurers agreed to a request from the Colorado Division of Insurance to extend additional living expenses coverage for Marshall Fire survivors. Homeowners’ insurance companies have agreed to extend coverage for up to 24 months for policyholders that only had 12 …