INSURANCE NEWS
Ohio Personal Injury Attorney Sentenced to Prison for Insurance Fraud
Ohio Department of Insurance director Judith L. French announced that former attorney Anthony Fusco, of Youngstown, was sentenced on October 7 in the Mahoning County Court of Common Pleas to 18 months in prison for felony insurance fraud. Fusco was …
Snow Storm Hits Michigan’s Upper Peninsula, Causing Power Outages
It’s beginning to look a lot like winter in Michigan’s Upper Peninsula, with snow falling and high winds toppling trees and causing power outages. MLive reported that as much as 18 inches (45 centimeters) of snow fell as of Tuesday …
People Moves: Iroquois Adds Gonzalez in Texas; Lucas to Lead Platinum Construction; Distinguished Programs Hires Fulton
Iroquois adds Regional Manager Gonzalez in Texas Jo Gonzalez joins Iroquois as a regional manager for Texas, where she will further expand Iroquois’ presence by partnering with independent insurance agencies and select carriers. Iroquois Texas is part of Allegany, New …
CEOs of Travelers, CNA Elected APCIA Chair, Chair-Elect
Alan Schnitzer, chairman and CEO of The Travelers Companies, has been elected chair of the board of directors of the American Property Casualty Insurance Association (APCIA). Dino E. Robusto, chairman and CEO of CNA Financial Corporation was elected chair-elect at …
‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto
Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking. After being plagued for years by hackers seeking …
Florida CFO Calls for Ban on Assignments of Benefits, Limits on Public Adjusters
In the wake of Hurricane Ian, Florida’s chief financial officer has taken a hard line on insurance claims litigation, calling for an outright ban on assignments-of-benefits agreements. At a press conference in Cape Coral, a city hit hard by the …
The Hanover: $28M Loss From Ian as Overall Cat Losses Exceed Assumption
The Hanover Insurance Group on Oct. 20 released an estimate of third-quarter over catastrophe and Hurricane Ian-related losses. Q3 losses are expected to be about $90 million, pre tax. Estimated losses from Ian will be about $28 million, mostly from …
As Homeowners Rebuild After Ian, a Cooling New Housing Market Drops Material Costs
If Hurricane Ian would have made landfall in Florida, say, six months ago, the costs of reconstruction could have been even higher than the already staggering estimates now coming from the Sunshine State. Inflation is indeed set to bump up …
Report: Hurricane Ian Farm Loss Could Reach $1.56 Billion
Agriculture losses in Florida from Hurricane Ian’s high winds and drenching rains could reach $1.56 billion, with citrus, cattle, vegetable and melon operations among the hardest hit, the University of Florida reported Tuesday in a preliminary estimate. The school’s Institute …
Worker Admits Dumping Industrial Waste into Jackson, Mississippi Sewer System
An employee of a Mississippi wastewater hauling company pleaded guilty in federal court Tuesday for his part in illegally discharging industrial waste into the capital city’s sewer system. William Roberts, an employee of Partridge-Sibley Industrial Services, admitted to supervising the …
Maine’s ‘Cabin Masters’ Settles Lead Safety Claims
The company featured on the cable TV show “Maine Cabin Masters” has settled claims that it violated lead safety and exposure rules on some of its renovations. The settlement reached by the U.S. Environmental Protection Agency and Kennebec Property Services …
New Jersey Lawsuit Alleges Climate Change Deception by Oil and Gas Firms, Trade Groups
New Jersey officials announced a lawsuit Tuesday against five oil and gas companies and a petroleum trade organization, alleging they had known for decades about the harmful impact of fossil fuels on climate change but instead deceived the public about …