INSURANCE NEWS
New Hampshire Motorists Warned of Licensing and Traffic Violation Scam
New Hampshire Attorney General John M. Formella is alerting residents to an active scam targeting consumers through fraudulent text messages falsely claiming to be from the the state’s Division of Motor Vehicles (DMV). According to Formella, the Consumer Protection and …
California Commissioner Investigating State Farm’s Handling of LA Wildfire Claims
California Insurance Commissioner Ricardo Lara on Thursday said he has launched a formal investigation into State Farm’s handling of thousands of insurance claims from wildfire survivors affected by the Palisades and Eaton wildfires in January. The California Department of Insurance …
At Least 4 Dead in San Antonio And Dozens More Rescued After Heavy Rain
At least four people are dead in San Antonio and dozens of water rescues were made around the city after heavy rains flooded highways and stranded motorists, officials said Thursday. Fire officials said they are still searching for two people …
Missouri Counties Receive Federal Disaster Assistance After Severe Storms
The U.S. Small Business Administration (SBA) has announced a major disaster declaration for several counties in Missouri, including Bollinger, Butler, Cape Girardeau, Carter, and others, due to severe storms, straight-line winds, tornadoes, and flooding that occurred from March 30 to …
Florida Commission Accepts First Hurricane Model Under New Standards
The Florida Commission on Hurricane Loss Projection Methodology has accepted a new loss model from Karen Clark & Co., the first to meet the commission’s latest standards. KCC’s Version 5.0 incorporates two more years of climate and hurricane data and …
Dozens of States Sue 23andMe to Block Sale of Personal Genetic Data
Twenty-seven states and the District of Columbia on Monday filed a lawsuit in bankruptcy court seeking to block the sale of personal genetic data by 23andMe without customer consent. The lawsuit comes as a biotechnology company seeks the court’s approval …
Repairing Evacuated Charleston Condo Building Could Top $150 Million
It could take $151 million to repair the Dockside condominium tower in Charleston, which was evacuated in February after an engineering assessment found major structural problems. The Post and Courier newspaper reported that the 19-story building – Charleston’s tallest – …
Most G-7 Members Ready to Lower Russian Oil Price Cap Without US
Most countries in the Group of Seven nations are prepared to go it alone and lower the G-7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, four sources familiar with the matter said. …
Oregon Wildfire Prompts Evacuations And Closes Interstate
A wildfire in Oregon prompted officials to issue evacuation orders for hundreds of homes and to close nearly 20 miles of an interstate in the Columbia River Gorge on Wednesday. Gov. Tina Kotek invoked the state’s Emergency Conflagration Act for …
Markets/Coverages: MGA Optio Launches $150M Political Violence & Terrorism Cover
Optio Group, the London-based, independent specialty MGA, announced the launch of new political violence and terrorism (PVT) binders, backed by 100% Lloyd’s of London capacity. The new product provides a US$150 million limit, ensuring comprehensive protection against both physical and …
Air India Boeing 787 Headed to London Crashes After Takeoff With 242 on Board
A Boeing Co. 787 Dreamliner aircraft operated by Air India that was bound for London crashed shortly after taking off in Ahmedabad, in what stands to be the worst accident involving the US planemaker’s most advanced widebody airliner. Flight AI171 …
UK Risk Managers Identify ‘Tech, AI and Cyber’ as Top Concern in AIRMIC Survey
UK risk managers identified five key themes that could affect their businesses, topped by “technology, AI and cyber,” according to AIRMIC, the British risk management group, which conducted a survey of its members. Nearly 90% of respondents pointed to tech, …