INSURANCE NEWS
US Intends to Cancel $13 Billion in Funds for Green Energy
The U.S. Department of Energy intends to cancel more than $13 billion in funds that the Biden administration had pledged to subsidize wind, solar, batteries and electric vehicles, it said on Wednesday. It was not immediately clear which funds were …
Private Detectives Tail French Workers to Root Out Surging Sick Leave Fraud
Fabrice Lehmann caught sight of his target as he left his suburban Paris home, dressed for work. He began tailing him, trying to blend in with the commuters heading into the city. A private detective since 1994, Lehmann has increasingly …
People Moves: Howden US Appoints Peterson to Lead Construction, Infrastructure and Surety; Sokol Named Head of Excess Casualty for ICW Specialty
Howden US, headquartered in Columbia, South Carolina, appointed Mark Peterson as head of its construction, infrastructure and surety practice. Peterson joins Mike Parrish’s Howden US team and works closely with Naresh Dade, global head of construction, as part of Howden’s …
Viewpoint: The New Era of Insurance Pricing Involves Precision, Speed, and Control
For decades, insurers have relied on spreadsheets and legacy systems to manage one of their most critical functions: pricing. But as market dynamics shift and pressures intensify, the old tools are no longer fit for this purpose. In today’s volatile …
South Carolina Workers’ Comp Director Cannon Retiring as McRee Takes the Helm
South Carolina Workers’ Compensation Commission Executive Director Gary Cannon is retiring next month after 16 years on the job. The commission has named Kristen McRee, the director of administrative services at the agency, as the new director, starting Nov. 1. …
Are Credit Scores Fueling Hidden Insurance Costs for Consumers?
Across the South and the United States, homeowners’ insurance rates are rising, with some states seeing an increase of over 50%. Experts say that this issue is contributing to an ongoing housing crisis. While insurance companies have attempted to explain …
SC Comp Commission Must Relinquish $1.8M From Bankrupt Firm, Appeals Court Says
The South Carolina Workers’ Compensation Commission had no legal right to hold on to – for more than 15 years – some $1.8 million set aside by a bankrupt textile manufacturer for injury claims that never materialized, the state Court …
Connecticut Settles But Wrongful Death Suit Over Murder of Visiting Nurse Goes On
The state of Connecticut has paid $2.25 million to settle a wrongful death lawsuit brought by the husband of Joyce Grayson, the 63-year-old visiting nurse and mother of six who was killed by a registered sex offender in a halfway …
Edison to Open LA Fire Compensation Applications by Thanksgiving
Edison International expects to begin accepting applications “well before” Thanksgiving to compensate victims of the deadly Eaton Fire that destroyed swaths of the Los Angeles area in January, according to CEO Pedro Pizarro. That puts the utility company’s wildfire recovery …
Cyberattacks Cost Continental Europe’s Largest Economies €307B Over 5 Years: Howden
Cyberattacks cost companies in continental Europe’s four largest economies – France, Germany, Italy, and Spain – more than €300 billion (US$405.5 billion) in the past five years, according to a Howden survey. Nearly half (49%) of companies surveyed reported at …
DOJ Settles With Kansas Community College to Enforce Rights of Servicemember
The Justice Department announced it has reached a settlement with the Kansas City Kansas Community College (KCKCC) to enforce the rights guaranteed to Kansas Army National Guard Major Stephen W. Terry by the Uniformed Services Employment and Reemployment Rights Act …
Ryan Specialty Launches Clach Casualty Underwriting Managers
Ryan Specialty has announced the formation of Clach Casualty Underwriting Managers, a new managing general underwriter focused on providing casualty insurance solutions for complex construction and habitational real estate risks. Clach Casualty is a part of Ryan Specialty Underwriting Managers …