INSURANCE NEWS
The Huge Profits Investors Have Made on Catastrophe Bonds Are Raising Eyebrows
A strategy that’s delivered specialist investors huge returns is now facing scrutiny, amid concerns that its risk-reward dynamics might be skewed against some issuers. Catastrophe bonds, which are issued by insurers, reinsurers and governments seeking an extra layer of disaster …
Ford Recalls About 85,000 Explorer SUVs Over Engine Fire Risk
Ford Motor is recalling about 85,000 Explorer SUVs equipped with the Police Interceptor Utility package over concerns of an engine fire, the National Highway Traffic Safety Administration said on Friday. In the event of a motor failure, oil and fuel …
Freeway Drives Six New Franchises in Southeast, California
Freeway Insurance, a division of Confie, a large personal lines agency and brokerage in the United States, has expanded with six new franchises in Florida, Georgia, Tennessee and California. In south Florida James Ospina will head the office in Boynton …
Family Settles with Officer Whose K9 Killed an Alabama Man in 2018
MONTGOMERY, Ala. (AP) — The family of a man killed by a police dog in Montgomery, Alabama, has agreed to settle its federal lawsuit against the police officer who handled the animal, but their lawyers said Friday that they plan …
People Moves: Skyward Specialty Hires Four Regional VPs and Two Underwriters
Skyward Specialty Insurance Group, Inc., headquartered in Houston, named four new regional vice presidents and two new underwriters. Skyward Specialty named Gregg Callahan regional vice president in its northeast region in New England. Callahan spent the last 27 years at …
People Moves: NI Holdings, Inc. Appoints Launer Interim CEO
NI Holdings, Inc., headquartered in Fargo, North Dakota, named Cindy L. Launer as interim CEO. Michael J. Alexander has stepped down from his role as president and CEO and as a board member of the company. Launer has served as …
88-Year-Old Missouri Victim in Boar’s Head Deli Meat Outbreak Underscores Risk
A lifelong lover of liverwurst, Sue Fleming relished the smoked sausage her husband brought home every few weeks from the grocery store deli. Patrick Fleming always made sure to buy Boar’s Head braunschweiger, the type she liked best, even though …
Oklahoma Printing Business Ordered to Pay $47K After Employee Was Called an Ape
Worldwide Printing and Distribution, Inc., doing business as ResourceOne, a Tulsa, Oklahoma commercial printing, direct mailing and direct marketing company, will pay $47,500 and furnish other relief to resolve a harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission …
Downward Spiral: Florida Insurance Agent Charged with Embezzlement After Lawsuits
Florida authorities have arrested a well-known southwest Florida insurance agent, charging him with larceny and embezzlement of premiums. Reid McDaniel, 33, who was named the honorary mayor of North Fort Myers last year but who also was facing a negligence …
Michigan State Sued Over Adolf Hitler Quiz Question Displayed at Football Game
EAST LANSING, Mich. (AP) — Michigan State has been sued over the Adolf Hitler question that appeared on Spartan Stadium screens before a game last season, with the quiz’s creator saying the university didn’t have permission to use its product …
$7M Settlement Reached for Family of Man Fatally Shot by Ohio Sheriff’s Deputy
The family of Casey Goodson Jr., a Black man who was shot and killed by an Ohio sheriff’s deputy, will receive $7 million to settle a federal civil rights lawsuit over the December 2020 shooting. The Franklin County Board of …
Federal Board Calls for Stricter Safety Rules for Charter Flights and Air Tours
A federal safety agency is recommending that air tours and other commercial aircraft operators be required to have certificated dispatchers to help pilots plan their flights. The National Transportation Safety Board said Tuesday that and other recommendations are based on …