INSURANCE NEWS
Florida Chamber Summit Panelists Confident Lawmakers will Stem Attorney Fees
If Florida lawmakers had any doubts about what reforms they need to consider at next week’s special legislative session, the Florida Chamber of Commerce’s Insurance Summit on Tuesday provided plenty of ideas. And most of the panel members expressed optimism …
Florida Session Agenda Calls for Claims Process Changes, More Oversight of Insurers
Florida legislative leaders posted a proclamation Tuesday painting the broad outlines of the special session scheduled to begin Monday, Dec. 12. And it quickly had tongues wagging around the industry. As expected, the proclamation from Sen. President Kathleen Passidomo and …
Carbon Monoxide Leak at Chicago Church Sends 12 to Hospitals
CHICAGO (AP) – Twelve people were hospitalized after a carbon monoxide leak at a church on Chicago’s South Side, fire officials said. The Chicago Fire Department said that just after 1 p.m. it was called to the New Philadelphia Church …
Texas Court: Plaintiffs Alleging Brain Damage Must Submit to Independent Tests
A family seeking $33 million in economic damages for alleged brain injuries caused by exposure to carbon monoxide must submit to a battery of neuropsychological tests by the defendant’s doctor, the Texas Supreme Court ruled. The high court on Friday …
Texas Leaders Diverge on How to Fix Power Grid
The legislative session is more than a month away, but fault lines are already emerging between Texas’ top two Republican leaders on two major issues. Both Gov. Greg Abbott and Lt. Gov. Dan Patrick want to use the state’s massive …
Apple Sued By Women Who Say AirTag Lets Stalkers Track Victims
Apple Inc. has been sued by two women who said its AirTag devices have made it easier for their former partners and other stalkers to track down victims. In a proposed class action filed on Monday in San Francisco federal …
A Near-Term Return to Underwriting Profit in Auto ‘Highly Unlikely’: AM Best
Apparently nothing has changed within the last several months to change AM Best’s negative outlook on the U.S. personal lines insurance segment. Tuesday the insurance industry rating agency said it was maintaining its view, first revised in September, primarily because …
FloodFlash Eyes Parametric Splash in U.S.
Parametric flood insurance is still in its infancy in the United States, but one index-based insurer is preparing to make a splash in five states in early 2023. FloodFlash is set to begin offering parametric coverage for commercial businesses in …
New Mexico Approves Decrease in Workers’ Comp Loss Costs
The New Mexico Office of Superintendent of Insurance approved a rate proposal submitted by the National Council on Compensation Insurance that will reduce voluntary workers’ compensation loss costs by an average of 10.7%, to become effective for policies renewing on …
Many Insurtechs Exit the Marketplace, and Other 2023 Predictions From Forrester
More than a quarter of insurtechs will leave the insurance marketplace in 2023 – just a couple years after investments in the space were at an all-time high, according to predictions from research and consulting firm Forrester. “It’ll be a …
Fire Damages Commercial Buildings in Indiana Town
A fire in downtown Columbus destroyed a commercial building containing offices and a photo studio and left three firefighters with minor injuries early Sunday. A passerby discovered the fire and called 911 around midnight. When firefighters arrived within minutes, they …
People Moves: Bailey Named Chair of Aon UK Ltd. Board; AXA XL Promotes Casby to Head of Upstream Energy, UK & Lloyd’s
Bailey Named Chair of Aon UK Ltd. Board Aon plc, a leading global professional services firm, today announced that it has named Marshall Bailey as non-executive chair of the Aon UK Limited Board, effective Jan. 31, 2023. Bailey replaces Simon …