INSURANCE NEWS
U.S. Power Companies Face Supply-Chain Crisis This Summer
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires and drought …
Florida Driver Could Get $12M After Insurer Did Not Respond to Settlement Offer
A Florida accident victim gets a second chance to compel an auto insurer to pay a $12.7 million judgment after the insurer failed to respond to a $10,000 settlement offer, a federal appellate court ruled Tuesday. A divided panel of …
Cross Insurance Acquires Benefits Agency in Massachusetts
Maine-based insurance agency Cross Insurance has reported its acquisition of Northern Benefits of Massachusetts. Northern Benefits of Massachusetts, based in Marlborough, specializes in customized benefits brokerage and compliance awareness for small and mid-sized companies in Massachusetts. Northern Benefits offices will …
FEMA to Send Connecticut $1.3M for May Storm Recovery
he Federal Emergency Management Agency will be sending nearly $1.3 million to the state of Connecticut to reimburse it for the administrative costs of recovering from the tornadoes and storms that struck the state on May 15, 2018. A line …
Mosaic Expands Summer Intern Program for Students in Bermuda, New York, London
Mosaic Insurance has welcomed its second year of summer interns, expanding the program to include students at its Bermuda, New York, and London offices. Skyler Powell, 20, is working as a Communications, Marketing & Special Projects intern at the global …
Probe Into Australia’s Mining Sector Uncovers ‘Horrific’ Sexual Abuses
A landmark inquiry into Australia’s mining sector has uncovered dozens of shocking cases of sexual harassment and abuse of women workers at companies including BHP Group and Rio Tinto Group. The Western Australia government report released [June 23] described “horrific” …
Carlyle Unit Assumes Full Risks of Operating Gas Field as Insurers Shun Black Sea
A unit of Carlyle International Energy Partners LP has assumed the full risks of operating a new gas field in the Romanian waters of the Black Sea as insurers shun the zone because of its proximity to the war in …
Don’t Count Out Insurtech Disrupters, Carrier CEOs Say
Insurtechs bent on disrupting the insurance industry haven’t succeeded so far, but a future wave of insurtechs might emerge to accomplish a similar goal, carrier executives said recently. Speaking at the 38th Annual S&P Insurance Conference in June, Jack Roche, …
U.S. Vehicle Quality Hits 36-Year Low as Supply, Labor Woes Continue: J.D. Power
The quality of vehicles sold in the United States fell to a 36-year low in 2022, according to automotive consultant J.D. Power, as labor shortages and supply snags continued to impact automakers. Major automakers have been struggling to deal with …
How Addressing Socioeconomic Inequality Is Key to Building Flood Resilience
This content first appeared in BRINK. BRINK is supported by Marsh McLennan Advantage and managed by Long Dash. It is republished here with permission. Flooding is the most pervasive among natural disasters. According to the Zurich Flood Resilience Alliance, floods …
Starting July 1: Required Sea-Level Rise Studies for Florida Gov’t Coastal Structures
Starting Friday, July 1, state and local governments will have to conduct a sea-level impact study if they build anything near Florida’s coastline, the result of a state law passed in 2020. Although the law applies only to government entities …
Court Ruling Provides Ammo for Insurers in Florida AOB Cases
Florida insurers may have another weapon in the war over assignments of benefits in insurance claims, thanks to an appeals court ruling that went against one of the insurance industry’s most visible and active foes. In Kidwell Group and Air …