INSURANCE NEWS
Studies Find Automatic Braking Can Cut Crashes Over 40%
Two new U.S. studies show that automatic emergency braking can cut the number of rear-end automobile crashes in half, and reduce pickup truck crashes by more than 40%. The studies released Tuesday, one by a government-auto industry partnership and the …
Walmart Offers to Pay $3.1B to Settle Opioid Lawsuits
Walmart proposed a $3.1 billion legal settlement on Tuesday over the toll of powerful prescription opioids sold at its pharmacies, becoming the latest major drug industry player to promise major support to state, local and tribal governments still grappling with …
ShoreOne Names Burton VP of Operations
Florida-based ShoreOne, one of the relatively few insurance companies to offer homeowner perils as well as flood protection, has named Brad Burton senior vice president of operations. Burton was previously VP for underwriting at Olympus Insurance Co., and was with …
California Workers’ Comp Benefits to Increase in 2023
California’s State Average Weekly Wage rose by more than 5% in the year ending March 31, 2022, which will result in an increase in California workers’ compensation temporary total disability and permanent total disability rates for 2023 work injury claims …
DWC: Designated Doctor Sales Tax Requirement Delayed
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) sent out a memo that the designated doctor sales tax requirement is delayed. On October 20, 2022, the Texas Comptroller of Public Accounts (Comptroller) issued Private Letter Ruling No. PLR20220516113922 …
RMS: Less Than $2B in Insured Losses from Hurricane Nicole
Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion. This estimate represents insured losses associated with wind, storm surge, and precipitation-induced flooding. Losses …
Lawsuit in Idaho Settled over Antiquated Law
People who were convicted of having oral or anal sex under an antiquated Idaho law will be allowed to be removed from the state’s sex offender list, according to a settlement Idaho has reached to resolve a two-year-old lawsuit. The …
Dallas Air Show Victims Named; NTSB Investigation Underway
DALLAS (AP) – Officials on Monday identified the six men killed in a deadly collision between two vintage military aircraft at a Dallas air show, all of whom were experienced aviators with years of flight training. The Commemorative Air Force, …
Truck Driver Charged After Indiana Crash Injures Hockey Players
WARSAW, Ind. (AP) – A New York truck driver faces more than two dozen felony charges following a weekend collision in northern Indiana between his semitrailer and a Chicago youth hockey team’s bus that injured 16 of the student athletes, …
Illinois’ GCG Financial Rebrands as Alera Group
GCG Financial, a full-service financial services firm, announced that it is changing its corporate branding to Alera Group. The firm was started in 1975 and became one of the founding firms of Alera Group in 2017. The transition to Alera …
PCF Insurance Acquires Wisconsin’s Milz Health
PCF Insurance Services has acquired Milwaukee-based Milz Health Group, a full-service health insurance agency providing coverage to Wisconsin Medicare-eligible individuals and coverage through the Affordable Care Act. Milz provides affordable health care coverage for individuals through an integrated suite of …
Judge Approves $56M Settlement Over COVID Deaths in Veterans’ Home in Massachusetts
A federal judge in Springfield has given the green light to a $56 million settlement between the state of Massachusetts and families of 76 veterans who died from COVID-19 while living in the Holyoke Soldiers’ Home in 2020. The families …