INSURANCE NEWS
COVID Impacts Linger in Courtrooms, Often a Disadvantage for Defendants
Courts have reopened and trials have resumed, but the impacts of COVID-19 continue to linger in the judicial system, a panel of claims litigation experts said during the Combined Claims Conference on Thursday. For one thing, jurors are far more …
North Carolina Rate Bureau Wants 43% Hike in Dwelling Rates for 2023-24
The North Carolina Rate Bureau has recommended a statewide average increase of 42.6% over the next two years for dwelling property policies. The rate hikes would be an average of 19.6% for April 2023 and 19.2% for 2024, the bureau’s …
FIGA to Extend Assessment, Due to Southern Fidelity, Weston Failures
Thanks to the mounting number of insolvencies of Florida property insurers in the last two years, the Florida Insurance Guaranty Association will have to borrow $150 million and extend a surcharge on policies through 2023. The FIGA Board of Directors …
Lloyd’s Owes $3M in Prejudgment Interest for Late Payment of D&O Claim
Lloyd’s of London underwriters must pay more than $3 million in pre-judgment interest in addition to the $10 million the syndicate has already paid in damages for the wrongful acts of the former directors of a bank that was declared …
Louisiana Woman Pleads Guilty to FEMA Fraud
Schshinetia Anderson, age 44, a resident of Slidell, Louisiana, pled guilty on August 11, 2022 to FEMA fraud announced U.S. Attorney Duane A. Evans. The defendant is scheduled to be sentenced before the Honorable Mary Ann Vial Lemmon on November …
Lawsuit Alleges Archdiocese of New Orleans Discriminates Against Disabled
Catholic church officials in New Orleans are accused in a class-action lawsuit of discriminating against children with disabilities. WWL-TV reports that the lawsuit says the Archdiocese of New Orleans illegally asks questions about student’s disabilities on application forms and fails …
Missouri Home Explosion Death Toll Grows to 3
A young mother is the third member of her family to die in a gas explosion at her Missouri home, authorities said last Friday. Myranda Gale Golden, 22, was hurt Monday when her home in the far southern Missouri town …
People Moves: Liberty Mutual Names Former CNA Exec as President, GRS N. America; AXA XL Boosts Cyber Insurance Team in N. America With 3 Hires
Liberty Mutual Names Former CNA Exec as President, GRS North America Liberty Mutual Insurance announced the appointment of Kevin Smith as president of Global Risk Solutions (GRS) North America. Reporting to GRS President Neeti Bhalla Johnson, Smith will be accountable …
Iowa Man Charged in Workers’ Comp Fraud Scheme
Thomas Stephanie, age 46, of Washington, Iowa, was charged with one count of Insurance Fraud – Presenting False Information (Class D Felony) following an investigation by the Iowa Insurance Division’s Fraud Bureau.The charges against Stephanie stem from an investigation which …
Louisiana Suit Alleging Off-Camera Jail Beatings Revived
A federal appeals court cleared the way last Friday for a lawsuit to proceed against guards and officials at a privately run north Louisiana jail where an inmate died with a fractured skull in 2015. The lawsuit by family members …
Reinsurance Capital To Drop $40 Billion at Year-End 2022: AM Best
AM Best estimates that traditional reinsurance capital will drop by roughly $40 billion to $435 billion at year-end 2022, after hefty jumps recorded in each of the prior three years. The projected 8.4% decline to $435 billion for 2022 from …
Big Legal Battle Brews Over Nevada Dorm Blast as Students Return
Three years after a gas explosion ripped through a University of Nevada dormitory, hundreds of students will start moving into the remodeled building this week as a legal battle looms over more than $100 million in damages. School officials likened …