INSURANCE NEWS
Allstate Expects Q3 Net Loss Up to $725M; Ian Caused $366M Net Loss
Allstate Corp said it expects to report a third quarter net loss of of between $675 million and $725 million with pre-tax catastrophe losses, net of reinsurance, of $763 million. Catastrophe losses net of reinsurance for September were an estimated …
Texas DWC Makes Correction to Employer’s Wage Statement Form
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) announced that is has made corrections to a form that was adopted on July 27, 2022. The corrections apply to DWC Form-003, Employer’s Wage Statement. The form is on the …
Man Pleads Guilty in Scheme to Sell Fraudulent Texas Vehicle Tags
HOUSTON – A 51-year-old man who advertised himself as the “Used Car King of New York” has admitted to conspiring to commit wire fraud, announced U.S. Attorney Jennifer B. Lowery. Octavian Ocasio pleaded guilty to conspiring with others residing in …
Small Planes Crashes Into Ohio Car Dealership, Killing 2
MARIETTA, Ohio (AP) — A small plane crashed into a car dealership parking lot near the border of Ohio and West Virginia early Tuesday, killing two people on board and sparking a large fire. The crash of the 1974 Beechcraft …
Lawsuit Filed Against Wisconsin State Senator in Fatal Car Crash
MADISON, Wis. (AP) — The father of a 5-year-old girl who died in a car crash involving Democratic Senate Minority Leader Janet Bewley has filed a wrongful death lawsuit against the lawmaker. The lawsuit was filed Friday in Ashland County …
Wisconsin Bonfire Explosion Injures Up to 40 People
TOWN OF MAPLE GROVE, Wis. (AP) — Authorities investigating a bonfire explosion over the weekend in eastern Wisconsin said Monday that as many as 40 people might have been injured in the blaze, including some who were seriously hurt. The …
U.S. Awards $2.8B for EV Battery, Grid Projects
he Biden administration will announce on Wednesday it is awarding $2.8 billion in grants for projects to boost U.S. manufacturing of electric vehicle batteries and domestic mineral production, a White House official told Reuters. The White House is also launching …
Georgia Agency Partners Joins Up with SecureRisk, Forming Large U.S. Partnership
Two of the largest insurance agency partnerships in the South have merged, creating the nation’s fourth-largest partnership, with some $600 million in property/casualty revenue, the groups announced. Georgia Agency Partners, an agency group with 30 officies in the Southeast, has …
Hackers Targeting Tech Supply Chains Spur Security Startup Boom
Cyberattacks on the digital supply chain have become increasingly common, as hackers seek out weak links among makers of computer code and equipment to breach organizations that depend on the technologies. In 2020, for example, hackers suspected of working for …
Court Dismisses 32 COVID-19 Business Insurance Cases Against Erie Insurance
A federal judge has dismissed 32 lawsuits over COVID-19 business interruption insurance claims against Erie Insurance, concluding the claimants failed to “plausibly plead” that they are entitled to coverage under their Erie policies. The ruling by U.S. District Judge Mark …
Travelers Q3 Net Income Falls 31%
Third quarter net income at Travelers Companies dropped 31%, compared with the same period a year ago, to $454 million. The P/C insurer said net income fell due to lower core income – $526 million compared with $655 million last …
$275M Verdict for Toxic Exposures at Washington School
A jury in King County, Washington, awarded $275 million to ten students and parents who say they suffered serious neurological injuries from chemical exposure at a school northeast of Seattle. The lawsuit against Bayer Pharmaceuticals is the fourth to result …