INSURANCE NEWS
Louisiana Guaranty Fund Extends Deadline to File Suit Against FedNat, Maison
The Louisiana Insurance Guaranty Association (LIGA) has granted a voluntary extension to March 31, 2023, of the deadline by which former FedNat Insurance Company and Maison Insurance Company policyholders are required to institute litigation for first-party property damage claims arising …
Evertree Acquires Michigan’s Provision
Evertree Insurance, an omni-channel property and casualty insurance distribution platform, acquired Provision Insurance Group, a Michigan-based independent insurance brokerage firm. “We are thrilled to welcome all 44 employees, including 20 producers, onto the Evertree Platform,” said Alex Tuff, Founder and …
La. Nursing Home Owner Faces New Lawsuit in Ida Storm Evacuation
NEW ORLEANS (AP) _ A nursing home owner who faces criminal and civil complaints over evacuating residents to a squalid warehouse to ride out Hurricane Ida in 2021 is now being sued by federal authorities who say he misspent $4 …
Travelers Estimates Drop in Q4 Income on Winter Storm Losses
Travelers Companies today released an estimate of $459 million in pre-tax catastrophe losses during the fourth quarter, and expects to report net income of $819 million for the last three months of 2022. Travelers said catastrophe losses were primarily caused …
3D Printing Reaches New Heights With Two-Story Home
A 3D printer is taking home building to a new level — literally. The enormous printer weighing more than 12 tons is creating what is believed to be the first 3D-printed, two-story home in the United States. The machine steadily …
California Latest to Sue Drug Companies Over Insulin Prices
California announced it will sue the companies that make and promote most of the nation’s insulin, accusing them of scheming to illegally increase the price of the drug and demanding they return millions of dollars to some diabetics who state …
Tackling Threat of Mudslides in Rain Soaked California
Relentless storms from a series of atmospheric rivers have saturated the steep mountains and bald hillsides scarred from wildfires along much of California’s long coastline, causing hundreds of landslides this month. So far the debris has mostly blocked roads and …
AM Best: Historic California Flooding Highlights Need for Robust Private Flood Market
Private flood insurance accounts for over 40% of California’s entire flood market—a significantly larger share than in the other leading states, according to AM Best. A new AM Best commentary notes the ongoing flooding issues in the state will present …
Tesla, Musk Face Trial in Shareholder Case Over 2018 Tweets
Elon Musk and Tesla Inc. are set to go to trial in San Francisco on Tuesday in a case where the company’s shareholders claim they were defrauded by Musk’s 2018 statement that funding was “secured” to take the electric car …
Man Confessed to Staged Crash But Alleged Conspirators Went to PIP Clinics Anyway
Miami authorities have arrested five people in connection with a staged auto accident scheme, a scheme that continued even after one of the participants confessed, a state official said. Five people were booked into the Miami-Dade County Jail last week …
Liberty Mutual Considers $1 Billion Latin America Sale
Liberty Mutual Holding Co. is exploring a sale of its Latin America businesses as part of the US insurer’s divestment plans from non-core markets, according to people with knowledge of the matter. The Boston-based firm is working with JPMorgan Chase …
Alabama Survivors Hid in Tubs, Shipping Containers as Tornado Tore Through Homes
An Alabama engine mechanic took refuge in a shipping container as a tornado decimated his shop and killed two of his neighbors along its destructive path across Alabama and Georgia. The harrowing stories of David Hollon and other survivors of …