INSURANCE NEWS
US Roof Maintenance Lags: Hanover
More than half of U.S. homeowners did not check their roofs for issues between February 2023 and 2024, according to a recent report by The Hanover Insurance Group. Only 38% of survey respondents reported checking for roof issues — including …
‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
Hurricane Beryl, described by forecasters as “extremely dangerous,” is set to cause massive damage across the Caribbean’s Windward Islands on Monday. Beryl’s winds roared across the region at 120 miles (195 kilometers) per hour, making it a Category 3 hurricane …
Microsoft Tells Texas Agencies They Were Exposed in Russian Hack
Microsoft Corp. has told more than a dozen state agencies and public universities in Texas that Russian state-sponsored hackers accessed emails between them and the software giant. The attackers were able to gain access to the communications through a breach …
CCC: Severe Weather Impacting Collision Repair, Auto Insurance
The auto insurance and repair industry must “adapt to new patterns and prepare for an unpredictable future,” according to the Crash Course Q2 2024 report released by CCC Intelligent Solutions Inc., a P/C cloud platform provider. The latest report focuses …
Cancer Victims Lose Bid to Block Proposed J&J Talc Bankruptcy
A federal judge on Friday rejected a bid by a group of cancer victims to block Johnson & Johnson from pursuing a proposed bankruptcy settlement of tens of thousands of lawsuits alleging the company’s baby powder and other talc products …
NYC Has the World’s Worst Traffic Congestion, Costing $9 Billion
New York City is the world’s most-congested urban area for the second year in a row, costing the city an estimated $9.1 billion in lost time, a new report shows. A typical motorist driving through the most populated city in …
Changes at American Coastal Insurance After Florida OIR Action on ‘No-Fly List’
Florida regulators’ effort to enforce a 2002 state law and keep insolvent insurers’ officers out of carrier leadership roles appears to be a reason behind a significant shakeup at St. Petersburg-based American Coastal Insurance Corp. An official with Florida’s Office …
Insurer Can’t Rescind Workers’ Comp Policy, Even With Misrep, MS High Court Says
An insurer cannot rescind a workers’ compensation policy, even in the case of a material misrepresentation that could led to millions of dollars in benefits payments, the Mississippi Supreme Court decided last week. The Mississippi Workers’ Compensation Act governs all …
Report: Combined California Workers’ Comp Losses and Expenses Down in 2023
Total insurer combined losses and expenses incurred in 2023 were down, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2023. Findings in the WCIRB report, 2023 …
People Moves: Higginbotham Promotes Russell to President, Private Client Services
Higginbotham announced the promotion of long-time executive team member and former Chief Operating Officer, Personal Insurance Mary Russell to the position of President, Private Client Services. This move marks the final division of the president title that Higginbotham Chairman and …
Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit
A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …
A Potential Atlantic Hurricane Is About to Clash With a Cloud of Saharan Dust
A cluster of thunderstorms is threatening to become the Atlantic’s next tropical storm or hurricane — if it can survive a cloud of dust from the Sahara. The storms southwest of the Cape Verde islands have a 70% chance of …