INSURANCE NEWS
Great SPAC Crash of 2022 Deepens as Investors Cash Out in Droves
The great SPAC crash is closing out the year in dramatic fashion as more shareholders prepare to cash out of the speculative-investing industry for good. At least 80 special-purpose acquisition companies, which have raised $24 billion in total, face a …
Florida House Approves Historic Insurance Reforms, Sending Bill to Governor
One day after the Florida Senate approved a landmark revision to Florida’s property insurance rules, the House followed suit, perhaps bringing to a close an era of surging claims litigation, insurer insolvencies and escalating premiums. Florida’s second special legislative session …
Court Decides Insurance Broker’s Duty to Inform LLCs About Workers’ Compensation
What is the duty of an insurance broker in New Jersey to members of a limited liability corporation (LLC) when it comes to workers’ compensation coverage? The New Jersey Supreme Court this week ruled that a broker has a “non-waivable” …
Texas DWC Names Proposals on Designated Doctor Rules
The Texas Department of Insurance, Division of Workers’ Compensation announced two rule proposals: amendments to 28 Texas Administrative Code (TAC) Chapter 127, Designated Doctor Procedures and Requirements, and amendments to 28 TAC Section 180.23 to improve the designated doctor program. …
Church Officials Clear Chicago Priest of Abuse Claim
CHICAGO (AP) – A prominent Roman Catholic priest known for his activism has been reinstated as leader of his Chicago parish after being cleared by church officials of allegations that he sexually abused a minor decades ago. The Chicago Archdiocese …
Bird Flu Found in Indiana Snow Geese, Suspected in Turkey Flock
NDIANAPOLIS (AP) – Bird flu has been confirmed in snow geese and other water birds from Gibson County in southwestern Indiana and is suspected in a commercial turkey flock in nearby Daviess County, state officials said. Approximately 700 geese, primarily …
Massive Storm Brings Tornadoes to South Central, Blizzard Threat to Plains
SIOUX FALLS, S.D. (AP) – A massive storm blowing across the country spawned tornadoes in parts of Oklahoma and Texas, including the Dallas-Fort Worth area, as much of the central United States from the Rocky Mountains to the Midwest braced …
‘Far Too Many’ Companies Fail to Disclose Environmental Data, CDP Shows
Too many companies are failing to respond to environmental transparency requests, non-profit platform CDP said on Tuesday, after only 1.3% of over 900 firms scored an “A” based on their climate change, forests and water security disclosures. CDP, the world’s …
University Of Idaho Settles Students’ $90K Lawsuit
_ The University of Idaho will pay $90,000 to settle a lawsuit from members of a Christian law students’ organization who claimed their freedom of speech was violated when the school’s civil rights investigation office issued no-contact orders against them. …
Montana Woman Sues Over Rape, Pregnancy at Age 11
A Montana woman has filed a lawsuit against the state child and family services agency saying it failed to protect her from her mother’s boyfriend, who was eventually convicted of raping and impregnating her when she was 11. The woman, …
Jensten Group Acquires UK Specialist Broker Basil Fry & Co.
The Jensten Group, the London-based independent insurance broking group, has acquired specialist commercial broker Basil Fry & Co. for an undisclosed amount. The latest deal, which is subject to regulatory approval, will bring an additional £25 million of gross written …
Most Small SUVs Flunk Updated Insurance Industry Crash Tests
Most small SUVs flunked the latest frontal crash tests done by the insurance industry, but oddly enough, they’re just as safe as they were before. That’s because the Insurance Institute for Highway Safety updated the test so it places more …