INSURANCE NEWS
Equifax Says Consumer Credit Scores Changed in Computer Error
Equifax Inc. said some consumer credit scores were changed because of a computer error that has since been rectified. A server “coding issue” led to the inaccurate scores, the consumer credit-reporting firm said Tuesday in a statement posted on the …
Louisiana Insurers Have Paid $13.1 Billion on Ida Claims
Louisiana insurers have paid or reserved to pay $13.1 billion on Hurricane Ida claims through June 30, 2022, the state’s department of insurance announced this week. Policyholders have filed 460,709 claims of all types from Hurricane Ida as of the …
Louisiana Insurance Guaranty Association Tabs Verisk for Streamline Claims Handling
The Louisiana Insurance Guaranty Association (LIGA) announced it is is streamlining its handling of claims for policyholders of insolvent insurers with advanced property estimating technology from Verisk. LIGA is using Verisk’s Xactware® property claims-handling solutions, including Xactimate® and XactAnalysis®, to …
Alex Jones Admits Sandy Hook Attack was ‘100% Real’
Conspiracy theorist Alex Jones said Wednesday that he now understands it was irresponsible of him to declare the Sandy Hook Elementary School massacre a hoax and that he now believes it was “100% real,” a day after the parents of …
Duante Wright’s Passenger Sues Minnesota Town, Officer
The woman who was in Daunte Wright’s vehicle when he was fatally shot by police in a Minneapolis suburb last year is suing the city and the former officer who killed him. The lawsuit says passenger Alayna Albrecht-Payton, 21, of …
People Moves: Canopius Group Hires Sweeper to Lead US Application Support Team; Ryan Specialty Names Blackshear Head of DEI
Canopius Group Hires Roberta Sweeper to Lead US Application Support Team Canopius Group announced that it has expanded its technology capabilities with the addition of a US application support team as part of the company’s significant growth plans in the …
Net Loss of $343 Million for Liberty Mutual in Q2
Liberty Mutual Holding Co. said it recorded a second quarter net loss of about $343 million compared with net income of nearly $770 million during the same period a year ago. CEO David H. Long said results were affected by …
Minnesota Storms Knock Out Power to 75,000 Customers
Severe storms knocked out power to as many as 75,000 customers across Minnesota where power poles were toppled and winds gusted as high as 81 mph in the state’s southern region. The largest power outages were west of the Twin …
Allstate ‘Further Accelerating’ Auto Rate Hikes Following Q2 Loss
Allstate Corp. said it is accelerating its plan to increase auto insurance rates as it reported unprofitable results for the second quarter. Allstate booked a net loss of $1.04 billion in the second quarter compared with a net income profit …
Safety Insurance Cites Q2 Combined Ratio, COVID Claim Court Win
Boston-based Safety Insurance touted a combined ratio of 92.1 and a win in a COVID-19 business interruption court case as highlights for its second quarter. However, second quarter net income was $7.9 million compared to $37.7 million for the comparable …
Markets/Coverages: At-Bay Launches Misc. Pro Liability; Cover Genius Partners with Zip
At-Bay Expands Insurance Offerings With Launch of Miscellaneous Professional Liability At-Bay announced the launch of its Miscellaneous Professional Liability (MPL) product, becoming the first to offer an automatically underwritten policy that customizes coverage and pricing across more than 50 diverse …
Groups Providing Support for Eastern Kentucky Flood Victims
Multiple organizations are providing support to flood victims in eastern Kentucky. Gov. Andy Beshear has established the Team Eastern Kentucky Flood Relief Fund. Beshear says tax-deductible donations first will go toward paying for each flood victim’s funeral. Among other groups …