INSURANCE NEWS
Survey: 78% of Ransomware Victims Paid and 74% Suffered Multiple Strikes
A survey of nearly 1,000 IT and security professionals shows numerous organizations were targeted by ransomware attacks in the past year with a high degree of success, with most paying a ransom—many of which paid multiple times. Semperis, a cyber …
Florida Insurer Can’t Object to Appraiser After the Award is Decided, 11th Circuit Says
If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award. That was the word this week …
New Mexico Nursing Home Inspections Find at Least 1 Violation in 88% of Facilities
Recent unannounced inspections of nursing homes across New Mexico found at least one violation in 88% of them, authorities said. State health officials said just 11 of the 91 assisted living facilities received a perfect score, while 55 got a …
Pandemic Shifted US Jobs Out of Big Cities Into Smaller Metros
The pandemic changed where Americans are likely to live and work, with a growing portion of job openings moving away from the biggest cities and into smaller metro areas, according to a Federal Reserve Bank of New York . Job …
Delta Passengers Sue Airline for Refusing Refunds After Massive Computer Outage
Delta Air Lines was sued by passengers who complained that the carrier refused to offer full refunds after delaying or canceling their flights in the wake of last month’s massive computer outage. The proposed class action was made public on …
Fast-Moving Southern California Wildfire Torched Hillside Homes, Forcing Evacuations
A fast-moving wildfire that swept into a Southern California hillside community this week destroyed five homes and damaged three others, authorities said. The flames erupted Monday afternoon and chased residents from the neighborhood in San Bernardino, about 60 miles east …
Arkansas Fines PBMs $1.5M for Violating State Law
Arkansas Governor Sarah Huckabee Sanders and Insurance Department Commissioner Alan McClain announced Tuesday notices of penalties and hearings against four major pharmacy benefit managers (PBMs), Caremark, Magellan, Express Scripts, and MedImpact. These enforcement actions follow on the heels of a …
Study Links Fracking Wastewater Injection to Surface Blowouts in West Texas Oil Wells
Fracking wastewater, injected underground for permanent disposal, traveled 12 miles through geological faults before bursting to the surface through a previously plugged West Texas oil well in 2022, according to a new study from Southern Methodist University. It’s the first …
People Moves: Lockton Names Ryan US President; Everest Names Buonpane and Stewart to Lead US Wholesale
Lockton Names Ryan US President Lockton, headquartered in Kansas City, Missouri, appointed Tim Ryan as U.S. president. Ryan has 19 years of experience as the COO of Lockton’s Northeast business and 30 years of industry experience. Ryan reports to Ron …
People Moves: Markel Announces 2 Key Hires for International Casualty Team; Howden Re Taps Gruen From AXIS as Head of Cyber Threat Intelligence
This edition of International People Moves details appointments at Markel and Howden Re. A summary of these new hires follows here. Markel Appoints 2 Key Hires for International Casualty Team Markel, the insurance operations within Markel Group, announced the appointment …
Virginia Declares State of Emergency in Anticipation of Tropical Storm Debby
Governor Glenn Youngkin declared a state of emergency for Virginia based on National Weather Service and National Hurricane Center forecasts that indicate the state could see significant rainfall and flooding from Tropical Storm Debby. The Virginia Emergency Operations Center (VEOC) …
King Insurance Partners Acquires Lincoln Group in Georgia
King Insurance Parnters, based in Gainesville, Florida, continues to expand with the acquisition of Lincoln Insurance Group in McDonough, Georgia. Lincoln is an independent agency that offers auto, home, life and commercial inurance coverage, King said in a news release. …