INSURANCE NEWS
Texas Hemp Regulation Proceeds Despite Federal Restriction
The Texas Alcoholic Beverage Commission moved forward on Tuesday with its efforts to regulate the sale of consumable hemp products as questions swirled around the future of the industry due to federal restrictions on the products approved by Congress last …
Louisiana Commissioner Approves Rate Decreases for About 12K Allstate Auto Policies
Approximately 12,000 Louisiana Allstate customers will soon see a decrease in their auto insurance premiums. Louisiana Insurance Commissioner Tim Temple announced last week he has approved rate decreases for two Allstate subsidiaries. Temple approved Allstate North American Insurance Company’s (ANAIC) …
Indiana Attorney General Sues Apartments Owners Over Alleged Uninhabitable Conditions
Indiana Attorney General Todd Rokita filed a civil lawsuit against the owners and property managers of Lake Castleton Apartments in Indianapolis, alleging that they have systematically failed to repair critical systems such as air conditioning and plumbing. Further, the landlords …
The Art of Negotiation: Benchmark, Bundle, Trade
“Everything is a negotiation,” says leadership expert John Burrows. Whether you’re working on a multimillion-dollar M&A deal, arguing for a better salary during a job offer, or simply trying to choose where to order takeout for your family dinner, “we’re …
People Moves: Marinello Named ReSource Pro Senior Director, Partnerships; United Risk Makes Additions to Leadership Team
Marinello named ReSource Pro Senior Director, Partnerships and Advisory ReSource Pro, headquartered in New York City, appointed Rob Marinello as senior director of partnerships and advisory. Marinello will spearhead the expansion and formalization of the company’s partnership program. Marinello has …
Trump Urges Congress to Block State-Level AI Regulation
President Donald Trump called on Congress to pass a federal standard governing oversight of artificial intelligence and warned that varied regulation at the state level risked slowing the development of an emerging technology that’s critical to the US economy. In …
Florida Judge Orders Citizens’ Arbitration to Continue, Clashing With Other Order
The legal battle over Florida’s property insurer of last resort’s use of a state agency to hear claims disputes in arbitration took new turns this week, prompting one policyholder attorney to note that a move designed to reduce courtroom time …
Families Sue Air Ambulance Company Over 2 Deaths in Philadelphia Crash
The families of two of the eight people killed earlier this year when an air ambulance crashed in Philadelphia filed a lawsuit on Monday, claiming the medical air transport company and others negligently caused their deaths. The wrongful death case …
King Risk Partners Buys Acacia Insurance in Massachusetts
Florida-based national insurance agency King Risk Partners announced its continued expansion into the New England market through the acquisition of Acacia Insurance, an independent agency located in Waltham, Massachusetts. Acacia Insurance provides personal and commercial insurance solutions, including coverage for …
Buffett Utility Reaches Oregon Wildfire Deal With Nearly 1,500 Victims
Berkshire Hathaway Inc.’s PacifiCorp said it has reached a $150 million settlement with 1,434 plaintiffs associated with the 2020 Labor Day fires in Oregon. The accord, disclosed Wednesday in a regulatory filing, will resolve claims by property owners that the …
Lloyd’s Probing Conduct of Ex-CEO Who Had Been Set to Join AIG
Lloyd’s of London is investigating its former chief executive officer, John Neal, who was set to start at American International Group Inc. next month before the company disclosed he’s no longer joining due to “personal circumstances.” Lloyd’s Chairman Charles Roxburgh …
AM Best Downgrades State Farm Mutual Auto
AM Best has downgraded the financial strength ratings of State Farm Mutual Automobile Insurance Company and its affiliates to A+ from A++, reflecting a revision to Best’s assessment of the group’s operating performance. The affiliates included in the rating action …