INSURANCE NEWS
New York to Fine Fossil Fuel Companies $75 Billion Over 25 Years for Climate Damage
New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is …
FDA Proposes Standardized Testing of Talc Cosmetics to Identify Asbestos
The U.S. Food and Drug Administration (FDA) has unveiled a proposed rule to require standardized testing to detect asbestos in talc-containing cosmetic products. The FDA says the proposed rule, if finalized, would help protect consumers who use talc-containing cosmetic products …
A Look at the $100B Disaster Relief in the Government Spending Bill
Congress is allocating more than $100 billion in emergency aid designed to address extensive damage caused by disasters after this week’s scramble to find consensus on a government spending bill. The money comes after back-to-back hurricanes — Helene and Milton …
Florida DFS Posts Latest Enforcement Actions Against Agents, Adjusters
Florida’s Department of Financial Services has posted its enforcement actions for much of the last half of 2024, listing 12 insurance agents and 43 adjusters who were penalized, suspended, or had their licenses revoked or voluntarily surrendered them. From June …
The War on Wildfires Is Going High-Tech
Last December, a farmer was burning dry grapevines in his vineyard in Deir Mar Moussa, a hill town a dozen miles east of Beirut known for its 18th century monastery and stands of pine forest. Usually this would be dangerous, …
National Flood Insurance Program Authorized to Continue Through Mid-March
The National Flood Insurance Program has been renewed for another three months. On Dec. 21, 2024, the day after it was set to expire, the president signed legislation passed by Congress that funds the federal government and extends the NFIP’s …
Flood Gates Removed From Storm Plan for Jersey Shore’s Back Bays
federal government has dropped huge gates at the mouths of three inlets, as well as internal waterway barriers from a plan to protect New Jersey’s back bays from the type of catastrophic flooding they endured during Superstorm Sandy. Instead, the …
New Hampshire Police Investigating Case of Man Found Dead at Insurance Department
The New Hampshire State Police reported that troopers are investigating the death of an adult male found dead at the New Hampshire Insurance Department (NHID). Investigators said they do not believe the death is suspicious and there was no public …
Texas Contractor Faces $107K Fine for Exposing Workers to Trench Collapse
A U.S. Department of Labor workplace safety investigation has found a Frisco, Texas contractor repeatedly exposed workers to serious hazards by sending them into unprotected trenches without providing a means of escape. The department’s Occupational Safety and Health Administration investigated …
Former New Orleans Sewerage & Water Board Employee Arrested for Workers’ Comp Fraud
Louisiana Attorney General Liz Murrill’s Louisiana Bureau of Investigation Special Agents arrested a former employee with the Sewerage & Water Board of New Orleans on December 20 for allegedly committing workers’ compensation fraud. On August 27, 2024, LBI Special Agents …
Nebraska AG Sues Change Healthcare Over Data Breach
Nebraska Attorney General Mike Hilgers filed a lawsuit last week in Lancaster County District Court against Change Healthcare alleging violations of the state’s Consumer Protection and Data Security Laws. The complaint stems from a February data breach and subsequent operational …
Arthur J. Gallagher & Co. Acquires Illinois’ Afina Insurance
Arthur J. Gallagher & Co. announced the acquisition of Oakbrook Terrace, Illinois-based Afina Insurance Advisors Inc. (Afina Insurance). Terms of the transaction were not disclosed. Afina Insurance is a property/casualty insurance broker serving clients in greater Chicago. George Van Denend …