INSURANCE NEWS
Former Virginia Deputy Attorney General Sues After Losing Job Over Jan. 6 Comments
A former deputy Virginia attorney general who says she was fired over social media posts in which she praised the Capitol rioters as “patriots” and falsely claimed Donald Trump won the 2020 election is suing the attorney general’s office for …
China Extends Industrial Power Cuts as Drought, Heatwave Threaten Wider Disruptions
Sichuan’s worst drought in more than a half century spurred the Chinese province to extend industrial power cuts and activate its highest emergency response, adding to manufacturers’ woes as they shut down factories in the region. Temperatures above 40 degrees …
Japanese Chemical Tanker Crashes Into Cargo Ship off Coast of Japan
A Japanese chemical tanker ship crashed into a cargo ship off the coast of southwestern Japan, the coast guard said Saturday. No one was injured among the six Japanese crew members aboard the tanker Ryoshinmaru and 14 Chinese crew members …
Toyota’s Hino Suspends Small Truck Shipments as Data Falsification Scandal Deepens
Japan’s Hino Motors will suspend shipments of small trucks after confirming that a widespread data falsification scandal included those models, it said on Monday, highlighting deepening problems at the Toyota Motor Corp. unit. Truck and bus maker Hino’s President Satoshi …
New Zealand Weighs Damage After Floods Batter South Island
New Zealand retained a state of emergency in parts of its flood-battered South Island on Sunday as authorities weighed damage in the region hardest hit by four days of torrential rain. Last week’s rains in northern and central areas forced …
Marsh Launches 1st Dedicated Insurance for Hydrogen Energy Projects
Broker Marsh, a unit of Marsh & McLennan, said on Monday it was launching the world’s first dedicated insurance for hydrogen energy projects, as the nascent industry looks to scale up quickly in the fight against climate change. As the …
Ford Motor Hit With $1.7B Verdict for Fatal Rollover Accident: Lawyer
Ford Motor Co. was told by a jury to pay more than $1.7 billion over a 2014 rollover accident that killed a Georgia couple, a lawyer for the family said. Jurors delivered their verdict on punitive damages Friday following a …
Insurers Anticipate Staffing Increase Over the Next Year Despite Recruiting Difficulty: The Jacobson Group
Most insurers (68 percent) plan to increase staff during the next 12 months, while only 5 percent anticipate a reduction in the number of employees, according to the Semi-Annual U.S. Insurance Labor Market Study by The Jacobson Group. Overall recruiting …
Lockton Names 2 Execs in Tennessee
Lockton, a global brokerage firm that provides insurance and employee benefits, has named two new executives in its Tennessee region. Jay Brown, with 25 years of experience, will be president in Lockton’s Nashville and Memphis offices. He will oversee culture, …
Judge Blocks Florida ‘Anti-Woke’ Law Pushed by Gov. DeSantis
A Florida judge has declared a Florida law championed by Republican Gov. Ron DeSantis that restricts race-based conversation and analysis in business and education unconstitutional. Tallahassee U.S. District Judge Mark Walker said in a 44-page ruling that the “Stop WOKE” …
Georgia Insurance Commissioner Slams Allstate’s 25% Auto Rate Increase
The Georgia insurance commissioner is publicly shaming one of the country’s largest auto insurers after the carrier announced an average 25% rate increase in the state. “I am angry and disappointed that Allstate has chosen to exploit a loophole in …
AM Best Places Credit Ratings of American Reliable in Arizona Under Review
AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of American Reliable Insurance Co. in Scottsdale, Arizona. American Reliable is a …