INSURANCE NEWS
Swiss Re Expects Hit of Less Than $700 Million From Los Angeles Wildfires
Reinsurance company Swiss Re said on Thursday that claims from wildfires in Los Angeles would be less than $700 million and would impact its first quarter results, the latest European reinsurer to disclose a hit from the January blaze. The …
Viewpoint: Attracting and Retaining Gen Z to Quell the Insurance Talent Crunch
The last three years have exposed a growing challenge for insurance carriers: attracting, hiring and retaining young talent. Despite the passing of the so-called “Great Resignation,” the insurance industry continues to face significant workforce challenges. The Bureau of Labor Statistics …
AerCap CEO Sees No Quick Return to Russia if Market Reopens on Insurance Concerns
The head of the world’s largest aircraft leasing company, AerCap, said on Wednesday that Russia may look to buy used aircraft or engines if and when its markets reopen but that he saw no rush by Western lessors to resume …
Oklahoma Supreme Court: Insurer Must Provide Direct Renewal Notice to Named Insured
After a fire broke out at an Oklahoma motel in June 2020, the property owner submitted a loss claim to its surplus lines insurer – only to find the insurer denied the claim on the assertion that a commercial lines …
Prosecutor Says Golden Toilet Was Stolen From English Palace in ‘Audacious Raid’
It was not your typical smash-and-grab burglary and the booty was precious: a toilet worth more than its weight in gold. The one-of-a-kind 18-carat gold toilet was swiped in under five minutes from Blenheim Palace, the sprawling English country mansion …
IU Indianapolis Basketball Team Bus Catches Fire; Players Safe
Members of the IU Indianapolis men’s basketball team are unhurt and back home Monday, a day after their bus caught fire on Interstate 275. The school posted a message on X on Sunday that all team and staff members were …
Supreme Court Signals Backing for Straight Woman’s Bias Suit
The US Supreme Court signaled it will revive a job-bias lawsuit by a straight woman and make it easier in some parts of the country for members of so-called “majority groups” to get to a jury with discrimination claims. Hearing …
Breaking: Judge Dismisses Charges Against NJ Insurance Exec Norcross
In a prosecution that local news outlets had called “stunning,” a New Jersey judge has made an equally stunning dismissal of corruption and racketeering charges against insurance executive and Democratic power broker George Norcross III and five co-defendants New Jersey …
NormanMax Agrees to Purchase Parametric Flood Specialist MGA, FloodFlash
NormanMax Insurance Holdings, the Miami-based provider of parametric re/insurance solutions, has agreed to acquire FloodFlash, the parametric flood managing general agent, subject to regulatory approval. London-headquartered FloodFlash will continue to operate as an MGA and Lloyd’s coverholder, and the FloodFlash …
First Measles Death Reported in West Texas Outbreak
A school-aged child has died in Lubbock from measles, the first death reported in an ongoing outbreak that has infected more than 120 people in West Texas since January, Texas Department of State Health Services confirmed on Wednesday. According to …
Michigan Man Sentenced in Million-Dollar Unemployment Insurance Fraud Scheme
A man from Detroit, Michigan was sentenced last week for his role in a multi-state, million-dollar unemployment insurance fraud scheme aimed at defrauding the U.S. government and the states of Michigan, Pennsylvania, and Maryland, of funds earmarked for unemployment assistance …
Inszone Acquires South Dakota’s Kouri & Associates
Inszone Insurance Services announced the acquisition of Kouri & Associates Inc., a Sioux Falls-based agency with a legacy dating back to 1970. This latest acquisition strengthens Inszone’s footprint in the Midwest and ensures Kouri & Associates’ clients gain access to …