INSURANCE NEWS
New York City Deploys Drones to Warn About Storms
Gone is the bullhorn. Instead, New York City emergency management officials have turned high-tech, using drones to warn residents about potential threatening weather. With a buzzing sound in the background, a drone equipped with a loudspeaker flies over homes warning …
Delta Rejects CrowdStrike Criticism, Sees $500 Million Hit From Cyber Outage
Delta Air Lines said on Thursday it is pursuing legal claims against CrowdStrike and Microsoft after a global outage last month caused mass flight cancellations, disrupting travel plans of 1.3 million customers and costing it at least $500 million. A …
Australia’s QBE Reports More Than Doubling of 1st-Half Profit, but Misses Estimates
Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six month low. The company’s gross written premiums …
Hong Kong’s Insurance Boom Lures Job-Seeking Mainlanders
Hong Kong is seeing an influx of professionals from mainland China’s finance and tech sectors who are disillusioned with their career and salary prospects across the border. Many are trying to make a living and stay in the city by …
More People Moving In Than Out of Counties With High Catastrophe Risk
Despite the dangers and expense associated with living in high-risk areas, large numbers of people are still moving to parts of America most impacted by wildfires, flooding and extreme heat. According to a new report from real estate company Redfin, …
SE People Moves: Bisig to Alliant, Former Lawmaker Bell to TDCI Fire Post
Alliant Insurance Services, a distributor of insurance products around the U.S., has named Sean Bisig vice president and producer in its employee benefits group. He will continue to be based in Charlotte, North Carolina. Bisig spent 18 years with UnitedHealth …
IMA Financial Spreads Into Florida Market with Wallace Welch & Willingham
IMA Financial Group, a large brokerage specializing in wealth management and risk advice, is moving into the Florida commercial property insurance market with the acquisition of Wallace Welch & Willingham Inc. WW&W, based in the St. Petersburg area, is considered …
Construction Firm to Pay $50K to Settle Retaliation Claim
Pro Pallet, LLC, a Pennsylvania-based construction company, will pay $50,000 and furnish other relief to settle a retaliation lawsuit filed by the Equal Employment Opportunity Commission (EEOC). According to the EEOC’s lawsuit, a human resources manager received a complaint of …
Judge Allows Vermont Suit Alleging Police Bias, Excessive Force Against Black Teen
A Vermont judge has denied the city of Burlington’s request to dismiss a lawsuit alleging that police used excessive force and discriminated against a Black teenager whose mother had called law enforcement to teach him a lesson about stealing. When …
California Commissioner Orders Insurance Cancelation Moratorium for 185K Residents
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …
Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit
Liberty Mutual Holding Co. continued to put 2023’s losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of $585 million for the same period in …
July North Dakota Derailment the Latest Crash to Involve Weak Tank Cars
The fiery North Dakota derailment that burned for days early last month was the latest train crash to involve the flawed tank cars that the National Transportation Safety Board has been trying to get off the tracks for decades. The …