INSURANCE NEWS
French Farmers Facing ‘Catastrophic’ Harvest Seek State Help
French farmers are calling on the government to provide financial aid as there’s a high risk that this year’s wheat harvest will be the lowest in at least a decade because of heavy rains. Three weeks into the season, field …
Damaging West Texas Earthquakes Likely Caused by Oil and Gas Activity: USGS
Damaging earthquakes that rocked West Texas in recent days were likely caused by oil and gas activity in an area that has weathered tremors for decades, according to the U.S. Geological Survey. A sequence that began in 2021 erupted with …
Outlooks Revised to Positive for Louisiana Workers’ Comp Insurer Stonetrust
AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Stonetrust Commercial Insurance Company and Stonetrust Premier Casualty Insurance Company. Stonetrust is …
How a Small South Dakota College Became a Hub for Cyber Job Creation
MADISON, S.D. (AP) — A seed planted by South Dakota legislative and higher education leaders four decades ago has blossomed into one of the nation’s top high-tech universities located in a small city in the rural midsection of the state. …
Coastal Texas Braces for Insurance Rate Increase at Upcoming TWIA Meeting
The Texas Windstorm Insurance Association, the state’s insurer of last resort for homes and businesses on the Gulf Coast, will consider raising rates as climate change increases the chances of more severe storms and damages become more costly. The association’s …
Tesla Recalls 1.85 Million US Vehicles Over Unlatched Hood Issue
Tesla is recalling 1.85 million vehicles in the United States due to risk of software failure to detect an unlatched hood, the automaker said. An unlatched hood could fully open and obstruct the driver’s view, raising the risk of a …
People Moves: Resilience Promotes Brady to Chief Underwriting Officer; Burns & Wilcox Names New Leaders in Southwest, Michigan
Brady Named Resilience Chief Underwriting Officer Resilience, headquartered in San Francisco, named Killian Brady as chief underwriting officer. Brady will oversee all aspects of the underwriting function for middle market and large enterprise clients across Resilience’s cyber and tech E&O …
Coastal Communities Get $575M to Guard Against Floods, Other Disasters
The federal government is giving more than a half-billion dollars to coastal communities to help them use nature-based preventative measures to address climate-related flooding and other disasters. The National Oceanic and Atmospheric Administration on Friday announced it is allocating $575 …
Former Exec Keating Pleads Guilty to Scamming Allied World Insurance for $1.5M
A former insurance executive has pleaded guilty to defrauding his former employer, Allied World Insurance Co., of $1.5 million in a scheme involving a shell company, bogus invoices, and vendor kickbacks. James Keating of Paoli, Pennsylvania on January 30 pleaded …
People Moves: Karasaki and Grossi Leave Aon to Run New Alliant Insurance Services Honolulu Office
Alliant Insurance Services, headquartered in Irvine, California, opened an office in Honolulu, the firm’s second location in Hawaii. Chad Karasaki, managing director, will lead the Honolulu office. Before joining Alliant, Karasaki most recently served as chairman, CEO and resident managing …
Delta Air Lines to Seek Compensation Over Cyber Outage: Report
Delta Air Lines has hired a law firm and will seek compensation from Microsoft and CrowdStrike over a global cyber outage earlier this month that disrupted flights around the world, CNBC reported on Monday. The Atlanta-based airline has been the …
Vermont Again Dealing With Floodwaters
Northern Vermont today is dealing with flash floods and washed-out roads after a night and early morning of extreme rainfall. Parts of Caledonia county and the Northeast Kingdom received 6-8 inches of rain last night and saw considerable catastrophic flash …