INSURANCE NEWS
Texas Workers’ Comp is Growing, Profitable, Adding Doctors
Texas’s worker’s compensation market is stable and steadily growing. The workers’ compensation market is one of the few consistently profitable lines in the state, according to the Worker’s Compensation Annual Report 2024 from the Insurance Council of Texas. Texas has …
Allianz Exec Ryan to Succeed Donnell as NCCI President and CEO
The board of NCCI Holdings, Inc. elected Tracy Ryan as its new president and CEO, effective January 6, 2025. Bill Donnell, the company’s current president and CEO, is retiring in February 2025. Boca Raton, Florida-based NCCI said Ryan has more …
Lloyd’s of London Shakes Up IT, Operations Teams
Commercial insurance market Lloyd’s of London is restructuring its data, operations and change departments, which will involve outsourcing some of those units’ work, a Lloyd’s spokesperson said on Thursday. It was too soon to say what the impact would be …
NC Insurance Broker Sentenced to Five Years in Long-running Tax Scheme
A federal judge on Wednesday sentenced a North Carolina insurance agent to five years in prison for his role in a decade-long scheme that created fraudulent tax shelters and cheated the U.S. government of more than $22 million in tax …
New York State Imposes Burn Ban; Brush Fire in Manhattan; Arrest in Medford Fire
New York Governor Kathy Hochul announced a statewide burn ban is in effect until November 30 due to an increased fire risk as the state continues to experience drought conditions and a record number of outdoor fires. Also, Suffolk County …
Doe & Emuss Launches as Professional Liability U/W Manager and Lloyd’s Coverholder
Doe & Emuss (D&E), the London-based boutique professional liability underwriting manager, has been launched with approved coverholder status at Lloyd’s. D&E is founded and led by industry veterans, Chief Executive David Doe and Managing Director Paul Emuss, who have more …
Allstate Insurers Sue Hyundai, Kia to Pay for Claims From Defective Cars
A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the lawsuit, now in U.S. District Court …
Intact Financial Acquires Canada’s No. 1 Home Maintenance App
Intact Financial Corp., the Toronto-based property-casualty insurer, announce that it has acquired Jiffy Inc., Canada’s No. 1 home maintenance app. Through this acquisition, Jiffy will have the platform and capabilities to accelerate expansion of its services across more Canadian jurisdictions …
Massachusetts Still Battling Brush Fires as Drought Conditions Persist
Massachusetts remains under a red flag warning as multiple brush fires continue to burn across the state. The warning issued by the National Weather Service indicates that the fires now burning are at high risk of spreading and more difficult …
New Hampshire High Court Invalidates Geico Underinsured Claim Provision
A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the insureds’ right to obtain the same benefits they would have received if …
Typhoon Usagi Hits Philippines, Set to Track Toward Taiwan
Typhoon Usagi struck the northern Philippines on Thursday afternoon, the fifth powerful storm to impact the country in three weeks, with the system set to swing north and move toward Taiwan. Usagi, known locally as Ofel, has maximum sustained winds …
Apple Faces UK Class Action Over Data Storage Allegations
Apple Inc. faces a lawsuit from a UK consumer group over allegations its monopoly on data storage breaches competition law, in a fresh class action that could ultimately cost the tech giant billions. The iCloud provider is accused of abusing …