INSURANCE NEWS
Snowflake to Close Probe Into Cyberattack Targeting Clients
Snowflake Inc. plans to close its own investigation this week into a hacking campaign that ensnared as many as 165 of its customers. The cloud data and analytics company hasn’t detected any unauthorized access into customer accounts since early last …
Analysis: Underwriting Loss Estimates Highlight Continued Challenges for US P/C Industry
The U.S. property/casualty market sustained an estimated $21.1 billion in underwriting losses in 2023, highlighting the challenges the industry faces as a result of natural catastrophes and inflation. According to joint analysis by global data analytics and technology provider Verisk …
Poor Maintenance, Pilot Error Cited in Fatal New Hampshire Plane Crash
Improper maintenance and the pilot’s failure to abort takeoff likely caused a small plane to crash into a building in New Hampshire in 2022, killing both people on board and sparking a fire, the National Transportation Safety Board said in …
California Labor Commissioner Reaches $658K Settlement with Residential Care Facility
The California Labor Commissioner’s Office reached a $658,948 settlement with a Los Angeles residential care facility. The settlement was to compensate 34 workers who were reportedly not paid for all hours worked. The LCO began investigating reports in 2023 that …
Calling All Top Agencies & Agency Partnerships: Enter to Be Recognized Now
It’s that time again! We hope you will consider entering your agency for Insurance Journal’s 2024 Top 100 independent agencies listing and Top Agency Partnerships listing. There are four ways to qualify: Top 100 Independent P/C Agencies Top Commercial Lines …
Former Iowa Insurance Agent Sentenced 19 Years for Defrauding the Elderly
A former Iowa insurance agent and annuity salesman was sentenced to 19 years in prison for defrauding elderly individuals out of their retirement savings. A federal judge on Wednesday sentenced Zach Flaherty, age 47, of Clive, to 222 months for …
Study Finds Higher Levels of Dangerous Chemical Than Expected in SE Louisiana
NEW ORLEANS (AP) — Researchers using high-tech air monitoring equipment rolled through an industrialized stretch of southeast Louisiana in mobile labs and found levels of a carcinogen in concentrations as much as 20 times higher than previously estimated, according to …
Texas Ranchers Face Growing Risk as Abandoned Oil Wells Gush Gassy Water
In recent years, Schuyler Wight has noticed a growing number of abandoned oil wells coming back to life, gurgling fluids on the surface of his West Texas ranch. Last week he found the biggest one yet. Gassy water was gushing …
Four Tops Singer Sues Detroit-Area Hospital for Racial Discrimination
WARREN, Mich. (AP) — The lead singer of the Four Tops said a Detroit-area hospital restrained him and ordered a psychological exam after refusing to believe that he was part of the Motown music group. Alexander Morris, who is Black, …
People Moves: Hamilton Insurance DAC Promotes Reynolds as CEO; Dale Underwriting Partners Names Bridge as Active Underwriter, Succeeding Peters
This edition of International People Moves details appointments at Hamilton Insurance DAC, the Irish subsidiary of Hamilton Insurance Group, and Dale Underwriting Partners in London. A summary of these new hires follows here. Hamilton Insurance DAC Promotes Reynolds as CEO …
Thousands of Amazon Drivers File Arbitration Claims for Unpaid Wages, Other Losses
Thousands of delivery drivers filed legal claims against Amazon, alleging the company’s classification of them as independent contractors instead of employees has led to unpaid wages and other financial losses. Two law firms spearheading the action said about 15,860 Amazon …
UK Puts First Sanctions on Russia’s Shadow-Fleet Oil Tankers
The UK announced wide-ranging sanctions on Russia, including a first attempt to clamp down on a shadow-fleet of tankers transporting the Kremlin’s oil and a key Moscow-based insurance company.The measures target four oil tankers out of a fleet of hundreds …