INSURANCE NEWS
Washington Judge Enters Order on Washington Insurance Commissioner’s Credit Scoring Ban
Judge Indu Thomas entered the final order declaring that Insurance Commissioner Mike Kreidler exceeded his authority when he issued a permanent rule banning the use of credit-based insurance scores. Judge Thomas initially granted the industry’s petition for a declaratory judgment …
Hilb Group Acquires Cook & Company in Massachusetts
Insurance broker The Hilb Group reports it has acquired Massachusetts-based Cook & Company Insurance Services in Hanover. Cook & Co. offers health plan consulting and brokerage services to employers in New England, including a specialized focus on medical stop-loss and …
Insurtech Accelerant Launches $175M Sidecar Investment Vehicle Flywheel Re
Accelerant, an insurtech platform that aims to provide underwriters with risk exchange, data analytics and long-term capacity commitments, announced a new $175 million sidecar vehicle, Flywheel Re. Flywheel will provide multi-year risk capital to Accelerant and its team of underwriting-led …
Greenland’s Melting ‘Zombie Ice’ Will Raise Global Sea Level by 10 Inches: Report
Greenland’s rapidly melting ice sheet will eventually raise global sea level by at least 10.6 inches (27 centimeters) — more than twice as much as previously forecast, according to a study published Monday. That’s because of something that could be …
First MainStreet Adds Pair of Partner Agencies in Iowa
First MainStreet Insurance L.C. (FMSI), an affiliate of TrueNorth Companies L.C., announced it has added two Iowa-based partner agencies. Joining the First MainStreet platform in June was Hagge Insurance Agency. As a second-generation insurance agency with roots dating back to …
Beyond Zeros and Ones: When Cyber Attacks Become Physical
When people think of cyber attacks, they might think of things like phishing, ransomware or data theft. But increasingly, something called cyber-physical attacks are making their way into the conversation – particularly in the critical infrastructure industry – and experts …
People Moves: Powers Adds 3 Members; Gardner Joins KAIA
Powers Insurance & Risk Management Hires Three New Team Members Powers Insurance & Risk Management, one of the largest family-owned and operated independent insurance agencies in the St. Louis, Missouri, area, recently hired three new team members. Maggie Stringer, commercial …
FTC Accuses Data Broker of Selling Sensitive Location Data
Federal regulators have sued a data broker they accuse of selling sensitive geolocation data from millions of mobile devices, information that can be used to identify people and track their movements to and from sensitive locations, including reproductive health clinics, …
Musk Looks to Delay Twitter Trial Following Whistleblower Claims
Elon Musk is seeking to delay until November a trial over his intention to back out of a $44 billion deal to buy Twitter Inc TWTR.N and amend his complaint against the social media company, according to court filings, after …
Comp Insurers Object to Florida Hospital Payments Set at 2X U.S. Average
The Florida Division of Workers’ Compensation appears to be intent on pushing the ball across the goal line on a long-awaited revision to hospital reimbursement rules, despite concern from insurers that some rates are still out of bounds. “My goal …
Hartford Insurance Loses Appeal of Loss of Consortium Claim It Labeled a ‘Ploy’
Hartford Insurance Group has lost an appeal of a $1.45 million injury settlement between an injured employee and third parties where 60% was for loss of consortium for the wife of the injured worker. Hartford maintained that the consortium allocation …
Program Manager McNeil, New York Cannabis Industry Form Workers’ Compensation Group
Insurance program manager McNeil & Co. and the Cannabis Association of New York (CANY) are forming a workers’ compensation safety group for the New York cannabis industry. The two said the New York State Insurance Fund (NYSIF) recently gave initial …