INSURANCE NEWS
Florida OIR Approves 1% Average Workers’ Compensation Rate Decrease
Florida employers will soon see the smallest decrease in workers’ compensation rates in years – just a 1% reduction from current overall rates in the voluntary market. The Florida Office of Insurance Regulation announced Monday that the insurance commissioner had …
AI Weather Models Have Shown Promise This Hurricane Season
When Hurricane Beryl was rushing across the Atlantic basin in July, the weather forecasting tool made by Google Deepmind, the tech company’s artificial intelligence unit, saw something other models missed. Deepmind’s AI-driven program, called GraphCast, forecast the storm would take …
Sedgwick: US Product Recalls on Pace to Hit 6-Year High
If the pace of product recalls continues in the fourth quarter, the number will reach a six-year high by the end of the year, a new report from Sedgwick shows. Year-to-date there have been 2,454 product recalls across five key …
Missouri Officers Arrested for Allegedly Searching Womens’ Phones for Nude Photos
ST. LOUIS (AP) — Two Missouri police officers were indicted separately this week and accused of similar crimes — pulling over women and searching their phones to find nude photos. The indictments of former Missouri State Highway Patrol officer David …
Safety Board Reports on Hazardous Ammonia Accident at Virginia Food Processor
The U.S. Chemical Safety and Hazard Investigation Board (CSB) released an update on its investigation into the hazardous ammonia release at a food processing facility in Sterling, Virginia that injured dozens of employees. The July 31, 2024 incident at Cuisine …
California Department of Insurance Moves Modeling Regulation Proposal Forward
The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …
Insurer, Contractors Allege Staged Injury Claims Scheme Under New York Scaffold Law
A construction industry captive insurer along with three construction contractors have filed a lawsuit alleging a massive New York fraud scheme involving staged workplace accidents and bogus workers’ compensation and personal injury lawsuits backed by complicit lawyers and medical providers. …
Atmospheric River to Slam the Pacific Northwest and California
Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places. Flooding rainfall and …
Judge Reduces UPS Driver’s $237.6M Bias Verdict to $39.6M
A federal judge reduced a $237.6 million jury award against United Parcel Service to $39.6 million in the case of a Black former driver who accused the package delivery company of workplace bias and wrongful firing. In a decision made …
California Wildfire Destroys 243 Structures, Cancellation Moratorium Issued
California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 200,000 policyholders affected by the Mountain Fire, which has destroyed 243 structures. The order shields those living within the …
TSLA Announces Election of Officers & Directors at Annual Meeting
The Texas Surplus Lines Association, Inc. announces the election of the following Officers and Directors at its 69th Annual Meeting held at the Four Seasons Hotel Austin on November 11, 2024. President – Robert McEwen, MBA, CIC, The Parks Group, …
Inszone Acquires LIA of Texas
Inszone Insurance Services announced the acquisition of LIA Texas, LLC, an agency based in Dallas, Texas. This strategic acquisition enhances Inszone’s footprint in Texas, enhancing the company’s ability to provide personalized service and diverse insurance solutions to clients in Texas. …