INSURANCE NEWS
Hippo, Orion180 Expand Homeowner Offerings in Southeast
Hippo, a publicly traded property insurance brokerage based in California, said it will expand its new homes insurance program in the disaster-prone states of Florida, Texas and California. By the end of this year, Hippo, owned by a number of …
Long COVID Claims Still Impact California’s Workers Comp System, Report Shows
The impact and surge of long-term COVID on the California workers’ compensation system since 2020 has been prevalent, including long-term impacts on disability and long-term patterns of medical cost and treatment on long COVID claims. That’s from a report by …
JPMorgan Client Who Lost $50 Million Fortune Amid Dementia Denied Trial
A once-wealthy JPMorgan Chase & Co. client whose portfolio crumbled as he slid into dementia lost a legal battle seeking to recoup his fortune from the bank. A federal judge in Boston threw out a lawsuit filed by Peter Doelger, …
Supreme Court to Decide If White, Straight Workers Face Higher Bar in Bias Lawsuits
The U.S. Supreme Court agreed on Friday to decide whether it should be more difficult for workers from “majority backgrounds,” such as white or heterosexual people, to prove workplace discrimination claims. The justices took up an appeal by Marlean Ames, …
Couple Seriously Injured in Uber Crash Blocked From Court by Uber Eats Terms
A New Jersey appeals court has ruled that a couple severely injured in an Uber driver crash cannot sue Uber because their minor daughter months earlier waived their rights to a trial when she ordered food via the Uber Eats …
California Commissioner Orders 1-Year Moratorium for Residents Affected by Boyles Fire
California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 16,000 policyholders affected by the Boyles Fire located in Lake County. The commissioner’s order shields those living within the …
Optio to Acquire Luxembourg-Based Film and Events MGA, Circles Group
Optio Group, the London-based specialty managing general agent, announced it has acquired the Luxembourg-based MGA, Circles Group for an undisclosed sum, subject to regulatory approval. The acquisition of Circles, Optio’s largest in Europe to date, represents a strategically critical development …
AM Best Withdraws Credit Rating of Farmers Mutual Insurance Co. of Michigan
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term ICR of “b+” (Marginal) of Farmers Mutual Insurance Company …
Tesla Recalls Over 27,000 Cybertrucks in Fifth Callback This Year
Tesla said on Thursday it would recall more than 27,000 Cybertrucks in the United States due to delayed rear-view camera images that could impair driver visibility and increase crash risks. This is the fifth recall issued by Tesla for 2024 …
Texas AG Sues TikTok For Violating State’s New Social Media Law
Texas Attorney General Ken Paxton sued TikTok on Thursday for sharing and selling minors’ personal information, violating a new state law that seeks to protect children who are active on social media, accusations that the company denied hours later. The …
People Moves: Ryan Specialty Underwriting Managers Appoints Leadership Team Members
Ryan Specialty, headquartered in Chicago, named new leadership within its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Eric Quinn was promoted to executive vice president – capital and product strategy. Quinn joined RSUM through the acquisition of All Risks …
Africa Specialty Risks Begins Operating as Lloyd’s Service Company
Africa Specialty Risks (ASR), the pan-African and Middle East-focused reinsurance group, announced that has begun operating as a Lloyd’s service company. As a Lloyd’s service company, ASR’s UK based entity, Africa Specialty Risks Ltd. (ASR Ltd.), is underwriting on behalf …