INSURANCE NEWS
12th Home in 5 Years Collapses into Surf on North Carolina Outer Banks
A beachfront stilt home along the Outer Banks in North Carolina has collapsed into the surf, bringing the total number of houses claimed by the Atlantic Ocean to 12 in the past five years. The two-story, wood-shingled home in Buxton, …
Morgan & Morgan Wants Court to Allow Early Mickey Mouse in Auto Injury Ads
Is Steamboat Willie “For the people?” That’s a question that one of the largest personal injury law firms in the United States is asking a federal court in central Florida to decide. The law firm Morgan & Morgan, known for …
Businesses Underinvesting in Climate Adaptation Despite Intensifying Hazards: Marsh
Most businesses are failing to invest in needed climate adaptation as other business priorities and resources take precedence over climate initiatives, according to a survey published by Marsh, the insurance broker and business of Marsh McLennan. While 75% of organizations …
Forecasters Give Tropical Storm in Atlantic a Name, Say it Should Strengthen Soon
Tropical Storm Gabrielle formed Wednesday in the Atlantic Ocean but was far from land, forecasters said. The center of Gabrielle re-formed from its morning position and was located about 990 miles (1,600 kilometers) east of the Northern Leeward Islands, the …
People Moves: HDI Global USA Appoints Griffin to Lead Casualty Business
HDI Global Insurance Company (HGIC), the U.S. carrier of international Corporate & Specialty insurer HDI Global (HDI), headquartered in Chicago, Illinois, appointed Bruce Griffin as head of casualty. Griffin is based out of HGIC’s Chicago headquarters. Griffin, who previously served …
Southern California Edison, Others Settle to Recover $2B Tied to Wildfires
Southern California Edison has reached a settlement agreement with several intervenors to allow the utility to recover about $2 billion of $5.6 billion in losses tied to the 2017–2018 wildfire and mudslide events. Out of the $2 billion, about $1.6 …
EU Proposes Full Ban on Russian LNG From 2027, a Year Early
The European Union proposed a complete ban on imports of Russian liquefied natural gas from Jan. 1, 2027, as part of its latest measures to curb President Vladimir Putin’s ability to wage Moscow’s war against Ukraine. The EU also proposed …
[Video] Commercial Auto Insurers Wait on Impact of Litigation Reforms
Many commercial auto insurers are in a holding pattern, waiting to see how some states’ litigation reforms are enacted and enforced. However, there seems to be some positive signs for buyers. Insurance Journal’s Andrea Wells spoke to Jennifer Nuest, transportation …
Lyft Pays New Jersey $19.4 Million Over Misclassifying 100,000 Drivers
Transportation company Lyft has paid the state of New Jersey $19.4 million to settle a case involving misclassification of more than 100,000 drivers as independent contractors. According to the New Jersey Department of Labor and Workforce Development (NJDOL), an audit …
British Motorists to Get £200 Million Compensation From Insurers
British insurance companies are paying £200 million ($270 million) to compensate motorists whose claims were underpaid, the Financial Conduct Authority said on Friday. Insurers including Direct Line Insurance Group Plc and Admiral Group Plc are getting in touch with about …
Hong Kong Braces for Twin Storms as Forecasters Predict Super Typhoon
Hong Kong is facing a period of heavy rain and strong winds as two storms brew in warm tropical waters, with one system forecast to intensify into a super typhoon next week. A tropical depression is currently spinning in the …
China’s EV Automaker Xiaomi to Fix Assisted Driving Issue for Over 115,000 SU7s
Xiaomi will issue a software update for over 115,000 of its popular SU7 electric sedans to fix potential safety issues when its assisted driving features are used, a Chinese regulator said in a product recall notice. It is the second …