INSURANCE NEWS
Florida Citizens’ Brass Tired of ‘Clickbait’ News on its Hurricane Claims Denials
Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens …
Forget Driverless Cars. Here Come Unmanned Helicopters for Firefighting, Crop Protection.
When Hector Xu was learning to fly a helicopter in college, he recalled having a few “nasty experiences” while trying to navigate at night. The heart-stopping flights led to his research of unmanned aircraft systems while getting his doctorate degree …
Second Teen Charged in New Jersey Forest Fire; New York Hopes Rain Douses Blaze
A second teenager was charged with intentionally setting a wildfire in a New Jersey suburb of Philadelphia as “significant” rainfall was expected to help douse a stubborn wildfire burning on the New Jersey-New York border Wednesday. Many parts of the …
Ninety One Joins Rush of Asset Managers Chasing Insurer Deals
South African asset manager Ninety One Ltd. has agreed to sell a stake to Sanlam Ltd., joining a raft of investment firms that have been tapping the deep pockets of insurers through such deals. Sanlam, the country’s biggest insurer by …
People Moves: Omaha National Appoints Klucarich as Chief Actuary
Omaha National Group, Inc. announced the appointment of Joan Klucarich as its Chief Actuary. Ms. Klucarich is joining Omaha National after working as Actuarial Manager with Risk & Regulatory Consulting, a national professional services firm. Ms. Klucarich’s experience also includes …
Risk Strategies Acquires Ohio’s Cornerstone
Risk Strategies announced it has acquired the assets of Ohio-based employee benefits specialty organization Cornerstone Broker Insurance Services Agency, Inc., an Ohio-based national provider of employee benefits solutions. The sale also included the assets of ARC Benefit Solutions, which provides …
CSB: 27,000 Pounds of Toxic Gas Released in Texas Hydrogen Sulfide Release
The U.S. Chemical Safety Board released an investigation update into a fatal hydrogen sulfide release at PEMEX Deer Park Refinery in Texas. The incident occurred on October 10, 2024, and killed two workers and injured 13 others. CSB’s investigation found …
New Orleans to Pay $20M to School District to Settle Long-Running Suit
The New Orleans City Council and Orleans Parish School Board announced Monday that they have found a partial solution to the NOLA Public Schools district’s estimated $36 million budget gap. The school board will agree to dismiss a 5-year-old lawsuit …
Connecticut Approves 6% Workers’ Compensation Rate Decrease for 2025
The trend of decreasing rates in Connecticut workers’ compensation insurance will continue as the state’s insurance regulator has approved an industry proposed 6% rate decrease beginning January 1, 2025. The now-approved rate filing submitted by the industry’s National Council on …
NSA Director Wants Industry to Disclose Details of Telecom Hacks
The director of the National Security Agency on Wednesday urged the private sector to take swift, collective action to share key details about breaches they have suffered at the hands of Chinese hackers who have infiltrated US telecommunications. General Timothy …
Miami Insurance Agent Pleads Guilty to Keeping $6M in Premium Finance Loans
A Miami insurance agent has pleaded guilty to defrauding a Georgia credit union by obtaining loans for condominium associations’ premium financing then using the $6 million for personal gain. Heleonel Gonzalez, known as Leo, is set for sentencing in February, …
Two Hospitalized After Small Plane Hits Another at Pennsylvania Airport
Two people were taken to hospitals after a small plane struck an unoccupied plane at an eastern Pennsylvania airport, authorities said. Police in Bucks County’s Buckingham Township said first responders were sent to Doylestown Airport shortly before 12:30 p.m. Monday …