INSURANCE NEWS
Sandy Hook Families Reach Settlement Over Alex Jones’ Bankruptcy
Families who have sued Alex Jones over his false claims about the Sandy Hook massacre have resolved their disputes on how to divide the bankrupt conspiracy theorist’s assets, clearing the way for a sale of Jones’ Infowars platform, attorneys said …
LA Wildfires Losses Could Top $30 Billion for Insurance Industry
Wildfires that have ravaged swaths of Los Angeles could result in losses of as much as $30 billion for the insurance industry as the blazes rage on almost a week after they ignited. The new estimates from Wells Fargo & …
Russian Insurer Says US Sanctions Against it Increase Risk of Environmental Disaster
Russian insurance company Ingosstrakh said on Friday that U.S. sanctions against it would increase the risk of environmental disasters. The Biden administration on Friday imposed its broadest package of sanctions yet targeting Russia’s oil and gas revenues in an attempt …
Russia Expands Response to Biggest Black Sea Fuel Spill in Decades
Russia has formed a new government commission to coordinate clean up of the biggest spill of oil products in the Black Sea in recent history as the Kremlin continues to assess the full scale of the catastrophe. Two tankers carrying …
People Moves: Vermont Mutual Names McDonnell CEO; Carangelo Joins DeCotis
Vermont Mutual, headquartered in Montpelier, Vermont, named company president Mark J. McDonnell as chief executive officer. McDonnell first joined Vermont Mutual as senior vice president in 2014. He was named executive vice president and chief operating officer (COO) in 2015 …
With Waters and Mandates Rising, HoneyQuote Adds Flood Insurance Price Tool
As more policyholders with Florida’s Citizens Property Insurance are statutorily required to purchase flood insurance, another insurance rate-quoting service has gotten in on the act. Officials with HoneyQuote.com announced Monday that the firm has started offering flood insurance quotes from …
Navion Acquiring Pegasus Capital & Insurance Services in California
Navion insurance Associates Inc. has acquired Pegasus Capital & Insurance Services Inc. in California. Pegasus Capital & Insurance Services is an insurance agency that specializes in serving the commercial insurance needs of its clients. Navion Insurance Associates is based in …
US Chicken, Pork Plant Workers Face Higher Health Risks, USDA Studies Confirm
Workers in U.S. chicken and pork plants face higher risks than other manufacturing workers for musculoskeletal disorders such as carpal tunnel syndrome, according to two studies the U.S. Department of Agriculture issued on Friday. The findings highlight health concerns for …
New York Governor Wants to Curb Hedge Funds Buying of Homes
New York Gov. Kathy Hochul last Thursday said she will push for new laws to make it harder for hedge funds to purchase large numbers of single-family homes in the state. In a statement, Hochul said she would propose legislation …
Reuters Exclusive: Investor Climate Group Suspends Activities After BlackRock Exit
A flagship coalition aimed at aligning the asset management industry with global climate goals said it was suspending its activities on Monday, days after BlackRock, the world’s biggest investor, left amid a political backlash in the United States. The pause …
Texas Lawsuit Alleges Allstate Illegally Collects Driver Data
The State of Texas on Monday filed a lawsuit against Allstate, alleging the insurance company illegally collects driver data through secretly embedded software in mobile apps and then uses the data to justify raising Texans’ insurance rates. Texas Attorney General …
Edison Utility Sued Over Role of Equipment in Los Angeles Fire
Edison International Inc.’s southern California utility was hit with a lawsuit blaming the energy provider’s equipment for igniting one of the wildfires still raging in the second-largest US metropolis. The lawsuit is on behalf of a group of homeowners, renters, …