INSURANCE NEWS

Hurricane Melissa Wreaks $8 Billion of Damage, Kills Dozens

The devastation from Hurricane Melissa came into focus after the record-setting storm moved past Jamaica, Haiti and Cuba with at least 33 deaths and almost $8 billion of damage in its wake. Across the Caribbean, the storm’s powerful winds have …
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EverPeak Launches Workers’ Comp in Arkansas

EverPeak Insurance announced the launch of its workers’ compensation solution in Arkansas. “Arkansas is powered by its small business community, and we recognize the critical need for accessible, reliable, and high-quality workers’ compensation coverage right here in the state,” said …
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Adjuster Countersues Heritage Over ’60 Minutes’ Response While DFS Probe Stalls

Independent adjusters’ claims that some Florida insurance companies had tampered with their damage estimates continue to trickle through courthouses and state agencies, with final resolutions far from certain or still months or years in the future. The latest developments include: …
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Prediction Markets Firm Kalshi Sues NY Gambling Regulator Alleging Overreach

Predictions marketplace Kalshi Inc. sued New York’s gaming commission, saying the state agency is overstepping its authority by attempting to regulate sports-betting operations that fall exclusively under federal jurisdiction. In a lawsuit filed Monday in Manhattan US District Court, Kalshi …
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People Moves: Aspire Promotes Alam to Chief Financial Officer

Aspire General Insurance Services promoted Bilal Alam to chief financial officer. Alam has been with Aspire since January 2023, joining the firm as chief information officer and most recently serving as chief risk officer, where he oversaw the risk, actuarial, …
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Trial Starts in $40M Lawsuit by Teacher Shot by 6-Year-Old Student

A former assistant principal at a Virginia elementary school ignored multiple warnings that a 6-year-old student had a gun in the hours before he shot his teacher, an attorney for the teacher said Tuesday as trial opened in the woman’s …
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SCE Wildfire Fund to Pay Millions, Fast-Track Death Claims

Southern California Edison said on Wednesday it would pay several million dollars each to families who lost loved ones in the January wildfires that scorched 14,000 acres in greater Los Angeles and destroyed thousands of homes and businesses. The utility, …
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Starr Acquiring IQUW; Starr Managing Agency to Be Among 10 Largest at Lloyd’s

Starr, a global investment and insurance organization, announced it has entered a definitive agreement to acquire IQUW Group, a specialty insurance and reinsurance business that combines data and analytics with underwriting expertise. Financial terms of the transaction were not been …
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South Dakota Survival Bunker Renters Sue Owner Over Alleged Deceptive Practices

A new class-action lawsuit, if successful, could require the California owner of former military munitions bunkers near Edgemont to pay more than $17 million to people who rent the so-called igloos for use as homes or shelters to protect them …
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Breaking: Florida Appeals Court Reverses $216M Jury Verdict in Maya Kowalski Case

A Florida appeals court today struck down the $216 million verdict against John’s Hopkins All Children’s Hospital in the Maya Kowalski negligence lawsuit, a case that had gained worldwide attention and was the subject of a Netflix documentary. “The trial …
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Fermi Orders Four Big Nuclear Reactors in Texas

Fermi Inc. has signed deals to begin production of four big nuclear-power reactors that would be used for a private data center grid campus in the Texas Panhandle. Shares rose as much as 9% after the announcement and a slew …
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Lawsuit Leads to Surrender of Texas Physician’s License over Gender-Affirming Care

A Dallas pediatrician has surrendered her medical license, a year after becoming the first target of a law that banned providing gender-transitioning hormones to minors. Last October, Texas Attorney General Ken Paxton filed a lawsuit against adolescent medicine physician May …
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