INSURANCE NEWS
Judge Reduces UPS Driver’s $237.6M Bias Verdict to $39.6M
A federal judge reduced a $237.6 million jury award against United Parcel Service to $39.6 million in the case of a Black former driver who accused the package delivery company of workplace bias and wrongful firing. In a decision made …
California Wildfire Destroys 243 Structures, Cancellation Moratorium Issued
California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 200,000 policyholders affected by the Mountain Fire, which has destroyed 243 structures. The order shields those living within the …
TSLA Announces Election of Officers & Directors at Annual Meeting
The Texas Surplus Lines Association, Inc. announces the election of the following Officers and Directors at its 69th Annual Meeting held at the Four Seasons Hotel Austin on November 11, 2024. President – Robert McEwen, MBA, CIC, The Parks Group, …
Inszone Acquires LIA of Texas
Inszone Insurance Services announced the acquisition of LIA Texas, LLC, an agency based in Dallas, Texas. This strategic acquisition enhances Inszone’s footprint in Texas, enhancing the company’s ability to provide personalized service and diverse insurance solutions to clients in Texas. …
USGS: Pair of Small Quakes in Southern California’s Inland Empire
A pair of small earthquakes were reported in Southern California’s Inland Empire on Saturday, according to the U.S. Geological Survey. The first magnitude 3.5 earthquake occurred at 2:17 p.m. northwest of Fontana. It was 1. 7 miles deep, according to …
NHTSA Opens Probe Into Over 110,000 Ford SUVs on Seat Belt Concern
The U.S. auto safety regulator said on Monday it had initiated a recall query into about 112,567 Ford SUVs over an issue with seat belt retractors. The National Highway Traffic Safety Administration said it had received three complaints, alleging an …
Spain’s Record-Breaking Floods Push Insured Losses Above €4 Billion ($4.2 Billion)
Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS. This insured price tag includes losses absorbed by the Consorcio de Compensación de Seguros (CCS), the state-backed …
Allstate Thinks Outside the Cubicle With Flexible Workspaces
After ditching two-thirds of its office space and selling its Chicago headquarters, Allstate Corp. realized that even employees who prefer working remotely still need a place to gather with their coworkers from time to time. In the coming months, a …
Marsh McLennan Completes $7.75B Buy of McGriff Insurance Services
Marsh McLennan said Friday it has completed the $7.75 billion acquisition of McGriff Insurance Services. The purchase of Charlotte, North Carolina-based McGriff, founded in 1886, adds to Marsh McLennan’s position as the biggest U.S. broker, with $22.7 billion in revenue …
Worker Rescued From Rubble After Construction Accident in Kentucky
LOUISVILLE, Ky. (AP) — Firefighters in Kentucky’s largest city rescued a construction worker on a demolition team who fell into a void Thursday and became trapped in rubble, requiring a tedious, hours-long operation to dig him out. The rescue was …
Voluntary Evacuations Help Firefighters Contain New York State Forest Wildfire
A voluntary evacuation of homes over the weekend helped New York firefighters continue their progress in containing a state park wildfire near the New Jersey border. The state requested that residents in about 165 homes in Warwick, New York evacuate …
Shadow Banks to Face Reins on Leverage Following Watchdog Probe
Global watchdogs will move to rein in leverage at non-banks early next year, the Financial Stability Board promised on Monday, more than a year after its chair signaled a probe into mounting borrowings at hedge funds, private capital markets and …