INSURANCE NEWS
Court Reviews Civil Rights Lawsuit Alleging Environmental Racism in Louisiana Parish
NEW ORLEANS (AP) — A federal appellate court is reviewing a civil rights lawsuit alleging a south Louisiana parish engaged in racist land-use policies to place polluting industries in majority-Black communities. The Fifth U.S. Circuit Court of Appeals in New …
Hub Acquires Texas’ WestStar Insurance
Hub International Limited (Hub) and WestStar Bank (WestStar), the leading community financial institution in the Borderplex Region, jointly announced the sale of the assets of WestStar Insurance Agency, Inc. (WestStar Insurance) by WestStar to Hub. Terms of the transaction were …
North Dakota Officials Offer Guidance Following Wildfires
In the wake of wildfires over the weekend affecting parts of NorthDakota, Insurance Commissioner Jon Godfread and State Fire Marshal Doug Nelson are reminding residents of the necessary steps to protect themselves and their property during the recovery process. “The …
NFP Acquires Indiana’s Miller Insurance Group
NFP, an Aon company and property and casualty (P&C) broker, benefits consultant, wealth manager and retirement plan advisor, announced the acquisition of Richard S. Miller & Sons, Inc. dba Miller Insurance Group (MIG), a P&C and benefits agency with multiple …
Pilot Dies as Small Plane Crashes Near Nebraska Airport
NORFOLK, Neb. (AP) — The pilot of a small airplane died in a crash near the runway of the airport in Norfolk, Nebraska. Norfolk police said the crash was reported at 7:39 p.m. Monday, about a half-mile south of the …
NSA Investigating If Chinese Hackers Breached US Telecoms
The US is in the early stages of an investigation into potential Chinese hacking of American telecommunications companies, according to a top intelligence official. National Security Agency Director General Timothy Haugh said the NSA, along with other government agencies and …
Verisk Says Helene’s Insured Losses Could Reach $11 Billion
Catastrophe modeler Verisk predicted wind, storm surge and flooding from last month’s Hurricane Helene will cause insured losses of between $6 billion and $11 billion. The estimate does not include losses to the National Flood Insurance Program (NFIP), Verisk added. …
Executive Stole $4.8 Million From Compensation Program for Children Injured at Birth
A Virginia man pled guilty to embezzling funds from his former employer, a fund that provides financial assistance to families of infants who suffer from brain or spinal cord injuries, reports the U.S. Attorney for Eastern Virginia. According to court …
Insurance Broker Caught Pocketing $137K Commissions by Forging Policy Applications
An insurance broker who collected nearly $137,000 in sales commissions by submitting fabricated insurance applications for end-of-life insurance policies in clients’ names without their knowledge, and used those clients’ personal and banking information to pay for those policies, was sentenced …
Hurricane Milton Bears Down on Florida’s Tampa Area With House-Toppling Winds
Hurricane Milton churned toward Florida’s west coast with winds powerful enough to demolish houses, threatening to unleash once-in-a-century flooding across some of the state’s fastest-growing counties. Milton’s top winds dropped slightly to 155 miles (250 kilometers) per hour, making it …
Experts Predict Impacts of $25B+ Milton Hit to Insurers, Reinsurers
A wide cone of uncertainty surrounds insurance experts’ pre-landfall predictions about the state of the industry that will prevail in the aftermath of Hurricane Milton, with most viewing it as a $20 billion-plus loss event. Amid the volumes of commentary …
Hurricanes Milton and Helene Expose Limits of US Flood Maps
Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast US, it’s already clear that federal flood-risk maps underpinning decisions by millions of American homeowners and businesses are severely out of sync with a new …