INSURANCE NEWS
Houthis Say Tugs Can Tow Away Stricken Oil Tanker Attacked in Red Sea
Yemen’s Houthi militants said they’ll let tugboats tow away an oil tanker that they attacked last week in the Red Sea, a step that might to help avert an environmental disaster. The 900-foot Sounion was hauling 150,000 tons of dense …
Millions Evacuated as Typhoon Slams Southwest Japan, Halting Flights and Factories
Millions of people were told to evacuate from their homes as Typhoon Shanshan lashed southwest Japan with strong winds and heavy rain on Thursday, knocking out power, snarling air traffic and forcing major factories to close. At least three people …
Weathering the Storm: How IBHS Is Revolutionizing Building Safety
I recently watched the new movie Twisters starring Daisy Edgar-Jones and Glen Powell, which gives viewers a fantastic and frightening look at the damage tornadoes and severe weather can cause to American communities. Early in the film, storm chaser/scientist Javi, …
Converge Insurance CEO Talks Focus, Innovation and Perseverance
Converge Insurance CEO Tom Kang said one of his most important pieces of advice for other InsurTechs is a seemingly obvious but often overlooked point, and that is to remember the insurance part of InsurTech. “Maybe this is an obvious …
Listeria Outbreak Linked to Deli Meats Claims 5 More Lives, CDC Says
The U.S. Centers for Disease Control and Prevention said on Wednesday that a Listeria outbreak linked to deli meats has resulted in 14 new illnesses and five additional deaths. This brings the total to 57 cases, all of which required …
Relation Insurance Gets Close With Carolina Heritage Agency
Relation Insurance Services, ranked by Insurance Journal as one of the largest brokerages in the country, has grown a little larger with the acquisition of Carolina Heritage Insurance, the company announced. Carolina Heritage, based in Hilton Head Island, South Carolina, …
Audit Finds Some Florida Citizens’ Policies Over Limit, Small Use of Clearinghouse
Florida’s state-created Citizens Property Insurance Corp., has a few issues it needs to address, including policies with coverage values above its statutory limit, not sending enough renewals to its Clearinghouse, and failing to beef up its computer security measures, according …
Ford Joins Harley in Scaling Back DEI Policies Amid Backlash
Ford Motor Co. told employees it would modify its diversity, equity and inclusion initiatives and end participation in a notable ranking by an LGBTQ advocacy group, joining a series of companies including Lowe’s Cos. and Harley-Davidson Inc. in curtailing some …
Oklahoma Bulletin Addresses Upcoming Legislative Changes
Oklahoma Insurance Commissioner Glen Mulready addressed upcoming legislative changes in an Aug. 26 bulletin to insurers. The legislative changes, which go in effect on Nov. 1, include updates to contact information, due diligence search and delivery and storage of electronic …
AM Best Revises Outlook to Negative for Ohio’s Buckeye State Mutual
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Buckeye State Mutual Insurance Company and its affiliate, Home and Farm …
Lyft is a Motor Carrier and State Farm Can be Sued Directly, Georgia Court Says
Georgia lawmakers this year put an end to direct-action lawsuits against trucking companies’ insurers, but that did not come soon enough to bar litigation brought by people involved in accidents with ride-sharing services. The Georgia Court of Appeals this week …
Red Sea Insurance Nearly Doubles After Attacked Oil Tanker Appears to Be Leaking Oil
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen’s Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for the trade route, industry sources said on Wednesday. Iran-aligned …