INSURANCE NEWS
Atlanta City Council Approves $2M for Students Pulled from Car During Protest
ATLANTA (AP) — The Atlanta City Council has approved the payment of a settlement of $2 million to two college students who were shocked with Tasers and pulled from a car while they were stuck in downtown traffic caused by …
Law Firms Smell Opportunity as Supreme Court Guts Agency Powers
Law firms are capitalizing on client uncertainty sparked by a flurry of new U.S. Supreme Court rulings that favored opponents of federal agency powers, even as lawyers themselves differ on the decisions’ immediate and long-term effects. Within hours of the …
People Moves: Unison Risk Advisors Appoints Martinez; USI’s Engbert Joins Alliant
Tony Martinez has been appointed to the new position of chief information officer for Unison Risk Advisors (URA) Inc., the parent company for Baltimore-based RCM&D, Oswald Companies of Cleveland and Miami-based NSI Insurance. He will lead all technology resources throughout …
Hurricane Beryl Roars Toward Jamaica on Destructive Path
Hurricane Beryl churned toward Jamaica with violent winds, heavy rains and a life-threatening storm surge that could cause more than $1 billion in damage. Beryl’s winds roared at 145 miles (230 kilometers) per hour early Wednesday, making it a Category …
What Is China’s Planned Financial Stability Law and How Will It Work?
China is moving closer to unveiling its financial stability law, which includes setting up a fund to rescue troubled financial institutions, as part of Beijing’s broader efforts to prevent systemic financial risks in the world’s second-biggest economy. A revised draft …
London Defers Tallest Tower Decision Amid Neighbors’ Objections, Including Lloyd’s
The City of London Corporation deferred a vote on plans for a new 73-story office tower next to the Gherkin that’s set to become the tallest building in the historic financial district. The City Corporation’s planning committee voted Tuesday to …
Life, Liberty, and the Pursuit of a Claims-Free Fourth of July
According to the Consumer Protection Safety Commission, about 9,700 people in 2023 were treated in emergency rooms for fireworks-related injuries. In its annual report, CPSC said there is a “statistically significant trend” upward in the number of ER visits for …
Report: Medical Costs for Workers’ Comp Rose 11% Nationally
Medical costs for workers’ compensation increased nationally 11% and first-party claims grew 5% over the last four years, a new report shows. Enlyte’s “Quarterly Medical Price Index (MPI) Report,” based on trends from professional medical bill services from Q1 2020 …
US P/C Underwriting Results: Two Years in a Row Over $20 Billion in the Red
For the second year in a row, the U.S. property/casualty industry booked an underwriting loss of more than $20 billion primarily due to the lackluster performance of personal auto and home insurance lines. The total U.S. P/C underwriting loss in …
Florida Arts Groups’ Insurance Could be Affected With DeSantis Veto of Funding
ORLANDO, Fla. (AP) — The Coral Gables Art Cinema will be short more than $100,000 this year. About $150,000 has suddenly disappeared from the Orlando Philharmonic Orchestra’s budget. The Miami New Drama also has an unexpected $150,000 budget hole. Across …
Hub Acquires Skinner & Co. in Georgia
Hub International, a global insurance brokerage, has acquired Georgia-based Skinner & Co., a brokerage offering commercial coverage, performance bonds and risk management services. Terms of the deal were not disclosed. Todd Skinner and team, in Marietta, Georgia, will now join …
Containment on Large California Fire Increased, but Temps Are Expected to Soar
Firefighters increased containment on the biggest wildfire currently burning in California, but triple-digit temperatures are expected to bake the state and increase wildfire risk. The Basin Fire in Fresno County has burned 13,551 acres and is 17% contained, but from …