INSURANCE NEWS
Texas Lawsuit Alleges GEICO Raises Premiums Despite Accident Forgiveness Promise
A class action lawsuit filed in Texas alleges GEICO doesn’t abide by its Accident Forgiveness program when a driver with an unblemished record gets into a first, at-fault accident. Texas resident Christopher Cude sued GEICO on Feb. 25, alleging the …
Kraken Is Latest Crypto Firm to Say SEC Agrees to Drop Lawsuit
Kraken said the US Securities and Exchange Commission has agreed in principle to drop its lawsuit against the cryptocurrency exchange, the latest in a series of dismissals of legal actions against crypto companies by the market regulator. There will be …
Verisk Webinar Highlights Emerging Psychoactive Substance Risks
As public perception and the legality of cannabis and other novel psychoactive substances continue to evolve, what emerging risks and litigation should insurance professionals keep an eye on? Last week, Verisk Analytics hosted a webinar to answer those questions and …
New England Waters Warming More Slowly But Temps Remain High
SCARBOROUGH, Maine (AP) — The waters off New England had another warm year but didn’t heat up as fast as earlier this decade, bucking a trend of higher warming worldwide, said scientists who study the Atlantic Ocean near Maine. The …
After Breakup With Spring Breakers, Miami Beach Says No to Getting Back Together
MIAMI BEACH, Fla. (AP) — Miami Beach broke up with spring break last year and city leaders still aren’t interested in couples counseling. Officials recently announced they were bringing back enhanced security measures for practically the entire month of March, …
With Unrevealed Previous Injury, Later Claim Cannot be Denied, Georgia Court Says
Defending workers’ compensation claims from employees who have not disclosed previous injuries may have just become a little more complicated for employers and insurance carriers in Georgia. The Georgia Court of Appeals last week found that a long-standing defense against …
Washington Senate Passes Restitution, Credit Scoring Study Bills
The Washington state Senate passed three bills with insurance implications on Monday, including a bill giving the insurance commissioner the authority to order restitution to harmed policyholders and a bill studying the impacts of insurance rating factors like credit scores. …
Missouri Man Admits to Stealing Railroad Equipment on 33 Occasions
A Missouri man on Friday admitted stealing railroad equipment on 33 occasions in Missouri and Illinois, costing railroads more than $1.5 million. Jesse Henry, 21, of Laclede County, Missouri, pleaded guilty in U.S. District Court in St. Louis to one …
Drake Settles With Texas-Based iHeartMedia Over ‘Not Like Us’
Drake has reached a settlement with Texas-based iHeartMedia in his ongoing legal dispute over Kendrick Lamar’s diss track “Not Like Us,” according to court records. In November, Drake filed a legal petition in Bexar County, Texas, where San Antonio is …
Arthur J. Gallagher & Co. Acquires Minnesota’s Dyste Williams
Arthur J. Gallagher & Co. has announced the acquisition of Dyste Williams, a Minneapolis-based retail insurance agency. The acquired company specializes in commercial lines, employee benefits, and personal lines services in the Upper Midwest region. Ted Dyste, Nels Dyste, and …
AM Best Concerned D&O Prices ‘Fell Too Far, Too Quickly’
Insurance industry rating analysts from AM Best warn recent softer pricing for directors and officers coverage could begin to affect insurers’ underwriting results. AM Best noted renewal premium for monoline D&O liability continued to fall during the first three months …
Critical Fire Conditions to Grip Texas’ Oil-Rich Permian Basin
Critical to extreme fire conditions are expected to affect more than 2.7 million people across the Southwest, lower Great Plains and Texas, including the oil-rich Permian Basin. A large low-pressure system is forecast to move across the central Great Plains, …