INSURANCE NEWS
Coast Guard Studying if Other Bridges at Risk After Baltimore Collapse
The U.S. Coast Guard said it is evaluating whether other bridges nationwide are at risk after a cargo ship crashed into the Francis Scott Key Bridge in Baltimore in March, killing six people and destroying the Patapsco River crossing. Coast …
After Two Years in the Eye of the Storm, Neal Steps Down From FIGA. Brown Up Next
Corey Neal took over as executive director of the Florida Insurance Guaranty Association in early 2022, at the height of what many would say were some of the darkest days for the Florida property/casualty market. Two carriers had just been …
AM Best Affirms Arrow Mutual’s Ratings, Revises Outlooks Citing Claim Dispute
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Arrow Mutual Liability Insurance Co. AM Best said the credit ratings …
People Moves: AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC/Europe
AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC & Europe AXA XL announced that Robert Riha has been appointed as chief client & distribution officer, APAC & Europe, effective July 1. In his new role, Riha will …
Security First Touts 5% Rate Decrease for HO-3, Renters Policies in Florida
Citing the stabilizing impact that legislative reforms have had on the Florida market, Security First Insurance Co. executives this week announced two residential property rate reductions of more than 5%. “For the first time in nine years, we’re going to …
Kansas Governor Cites Competition Concerns While Vetoing Bill for School Gun-Detection Technology
Kansas Gov. Laura Kelly vetoed a measure Wednesday that could have earmarked up to $5 million for gun-detection systems in schools while expressing concern that it could have benefitted only one particular company. Kelly’s line-item veto leaves in place $5 …
Indigenous Consultant Accuses Chicago Blackhawks of Fraud, Sexual Harassment
A consultant the Chicago Blackhawks hired to improve relationships with American Indian tribes has filed a lawsuit accusing the team, its charity foundation and its CEO of fraud, breach of contract and sexual harassment. Nina Sanders filed the civil action …
Inszone Acquires Texas’ JHC Insurance Agency
Inszone Insurance Services announced the acquisition of JHC Insurance Agency, Inc., an independent insurance agency serving the Victoria community and beyond. Rooted in the values of independence and client-focused service, JHC Insurance Agency, Inc. has become a key player in …
Staffing Shortages, Reduced Safety Training Fuel Risks for Company Drivers
Increased distractions, staffing shortages, and safety risks mean that 60% of company drivers are worried about their personal safety and liability behind the wheel. Over half have been involved in or witnessed an accident in the past year. According to …
Deadly US Oil Blast Exposes Risks of Pushing Profits Over Safety
The explosion that rocked Marathon Petroleum Corp.’s Galveston Bay oil refinery one year ago trapped Rigoberto Guillen 75 feet in the air. Stranded on a metal platform, he and a colleague crouched low as black smoke engulfed them. “I couldn’t …
Fitch Ratings: US Cyber Premium Growth Slows in 2023
The U.S. cyber insurance market saw what Fitch Ratings called an unexpected 1% decline in direct written premiums in 2023 following a 160% increase from 2020 to 2022. According to Fitch Ratings’ U.S. Cyber Insurance Market Update, standalone cyber written …
Driver Says He Smoked Pot Oil, Took Meds Before Florida Crash That Killed 8 Workers
OCALA, Fla. (AP) — A man with a long record of dangerous driving told investigators he smoked marijuana oil and took prescription drugs hours before he sideswiped a bus, killing eight Mexican farmworkers and injuring dozens more, according to an …