INSURANCE NEWS

Massachusetts Still Battling Brush Fires as Drought Conditions Persist

Massachusetts remains under a red flag warning as multiple brush fires continue to burn across the state. The warning issued by the National Weather Service indicates that the fires now burning are at high risk of spreading and more difficult …
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New Hampshire High Court Invalidates Geico Underinsured Claim Provision

A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the insureds’ right to obtain the same benefits they would have received if …
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Typhoon Usagi Hits Philippines, Set to Track Toward Taiwan

Typhoon Usagi struck the northern Philippines on Thursday afternoon, the fifth powerful storm to impact the country in three weeks, with the system set to swing north and move toward Taiwan. Usagi, known locally as Ofel, has maximum sustained winds …
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Apple Faces UK Class Action Over Data Storage Allegations

Apple Inc. faces a lawsuit from a UK consumer group over allegations its monopoly on data storage breaches competition law, in a fresh class action that could ultimately cost the tech giant billions. The iCloud provider is accused of abusing …
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People Moves: Everest Insurance Appoints Corbo to Lead US Primary Casualty, Weiser to Lead US Excess Casualty

Everest Insurance, the insurance division of Everest Group, headquartered in Warren, New Jersey, appointed Nina Corbo to lead U.S. primary casualty and Debbie Weiser to lead U.S. excess casualty. Corbo oversees the risk management and commercial casualty segments. With nearly …
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What Is the Latest Science on Climate Change?

This year’s U.N. climate summit – COP29 – is being held during yet another record-breaking year of higher global temperatures, adding pressure to negotiations aimed at curbing climate change. The last global scientific consensus on climate change was released in …
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Consumer Watchdog Facing Curbs, Scrutiny Following Trump Win

Bank executives and lawyers anticipate the incoming Trump administration to place significant limits on the U.S. Consumer Financial Protection Bureau (CFPB), but the president’s populist leanings could leave room for some activity by the watchdog. The CFPB has long been …
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2024 More of the Same Commercial Auto Insurance Segment After $5B Net Loss in 2023

After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives, including raising premiums to match the rising …
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North Carolina Insurance Agent Charged with Embezzlement

A North Carolina insurance agent who was penalized by regulators almost 20 years ago has given up her producer license after she was charged with pocketing insurance premiums. Lori Ann Crisp, 56, of Kannapolis, was charged with forgery, embezzlement and …
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Risk Strategies Acquires Felsen Insurance of New Jersey

North American specialty insurance brokerage Risk Strategies reports it has acquired Felsen Insurance Services, Inc., a New Jersey-based agency offering commercial and personal property/casualty insurance. Terms of the deal were not disclosed. Established in 1985, Felsen is based in Denville, …
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New England Grocers Stop & Shop, Hannaford Coping With Cyber Attack

The Dutch company that owns Stop & Shop and Hannaford grocery stores across New England is dealing with a cyberattack that has disrupted online shopping, product deliveries and pharmacy services at some locations. Ahold Delhaize USA confirmed the attack in …
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Oklahoma Insurance Department Provides Post-Storm Tips

The Oklahoma Insurance Department is offering assistance to residents affected by the severe storms that hit the state in early November. Tornadoes and severe storms struck Oklahoma Nov. 2-4, injuring at least 11 people and causing damage to homes and …
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