Formerly licensed insurance agent Narek Harutyunyan, 31, of Camarillo, California, was sentenced this week in Ventura County Superior Court on two felony counts of grand theft after Harutyunyan reportedly stole insurance premiums from clients, leaving them uninsured and one business …
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Friday, April 29, 2022
$18M Settlement in Fatal California Lamborghini Crash Involving Teen
The family of a woman killed when a 17-year-old driver crashed his father’s Lamborghini into her car in Los Angeles has reached an $18.85 million settlement in the case, attorneys announced. Monique Munoz, 32, was on her way home from …
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Takeaways from Our Conversation on Cannabis D&O
Directors and officers insurance is pricey and difficult to obtain in most business sectors, but by some accounts cannabis businesses may pay up to 50% more in premiums for D&O – if they can get it. A Fitch report out …
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Thursday, April 28, 2022
Maine’s Long-Time Chamber of Commerce Leader Stepping Down
he longtime president of the Maine State Chamber of Commerce and one of the best known advocates for businesses in the state said this week that he will soon step down. Dana Connors has led the chamber for almost three …
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‘Malicious’ Attacks on French Fiber Networks Cause Internet Outages
Attacks on long-distance fiber-optic cables caused internet outages in several parts of France, carriers SFR and Free said on Wednesday. The cyber section of the Paris public Prosecutor’s office opened a criminal investigation, a spokesperson told Bloomberg. The probe has …
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50 Big Corporations Pushing Congress for Clean Energy Tax
As Congress is poised to return from a break, nearly 50 major reporting at least $200 million in annual revenue urged lawmakers to pass an economic package with massive investments into clean energy projects. A letter from businesses including Adobe, …
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North Dakota Governor Seeking Federal Help With Damaging Storms
North Dakota Gov. Doug Burgum plans to ask for federal help in dealing with damaging floods and a severe winter storm that left thousands without electricity. As a precursor to a presidential disaster declaration request, Burgum has issued a statewide …
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Judge Rules for Elon Musk in $13 Billion Lawsuit Over Tesla-SolarCity Deal
Tesla Inc. Chief Executive Officer Elon Musk did not unjustly enrich himself when he guided the electric vehicle maker in 2016 to acquire SolarCity Corp, where Musk was chairman and the largest shareholder, a Delaware judge ruled on Wednesday. Tesla …
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COVID Again Leading Cause of Work-Related Deaths in Washington
COVID-19 was the leading cause of work-related fatalities in Washington for the second straight year, accounting for one-fourth of the 106 workers who died, according to the Washington State Department of Labor & Industries. L&I’s claim records show 26 people …
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Compliance in Cannabis Can Be a Painstaking Task
Editor’s note: This story is based an Insurance Journal webinar, which is available on-demand. A longer version of this article is set to appear in the Insurance Journal May 16 print edition. Compliance in the cannabis industry presents a different …
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California Labor Commissioner Cites Car Wash $800K
The California Labor Commissioner’s Office cited Torrance Car Wash more than $800,000 for wage theft violations affecting 35 workers, including minimum wage, overtime and contract wage violations. An investigation reportedly found that some people worked beyond 80 hours per pay …
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Wednesday, April 27, 2022
Massachusetts Man Sues City Alleging Race Factored in Wrongful Arrest
A Massachusetts man said in a lawsuit filed Monday that he was wrongfully charged with murder based on his race and what his attorneys called fabricated evidence. Dana Gaul, 43, said in the federal suit against the city of Worcester …
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Blizzard Could Leave North Dakotans Without Power for Days
combination of ugly weather has left at least 19,000 people in western North Dakota facing days without power and thousands of residents along the Red River that separates that state from Minnesota dealing with flash flooding. A blizzard over the …
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People Moves: Specialty Comp Insurance Solutions Promotes Math to President; Polak Retiring as TWIA GM
Specialty Comp Insurance Solutions Promotes Steve Math to President & CEO Specialty Comp Insurance Solutions (SCIS), a division of Specialty Program Group, LLC (SPG), promoted Steve Math, FCAS, to president and chief executive officer of SCIS, reporting to Chris Treanor, …
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Tuesday, April 26, 2022
Markets & Coverage: Companies Offer Pre-Paid Uber Rides After Accident
Policyholders with two Florida auto insurers will now be able to catch a pre-paid ride with Uber, Lyft or another ridesharing service after an accident. Continued Mobility, headquartered in Boca Raton, announced that it has teamed up with Pearl Holding …
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Supreme Court Lets Virginia School Continue Controversial Admissions Policy
The Supreme Court has turned away a plea from parents to block a new admissions policy at a prestigious high school in northern Virginia that a lower court has found discriminates against Asian American students. The high court did not …
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Maryland Officer Won’t Be Prosecuted in Fatal Shooting
A Maryland police lieutenant won’t be prosecuted in the death of a Black man he shot in the back during an exchange of gunfire in October, officials said Monday. The shooting happened about 2 a.m. on Oct. 11 after Baltimore …
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California Cites Agencies, Foster Farms $3.8M for COVID-19 Sick Leave Violations
The California Labor Commissioner’s Office cited three temporary staffing agencies as well as joint employers Foster Farms, LLC and Foster Poultry Farms nearly $3.8 million for failure to inform 3,476 temporary workers of their available COVID-19 supplemental paid sick leave. …
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Five Days That Could Save the Insurance World: DeSantis Calls Session for May 23-27
May 23 through May 27. Those are the dates Florida Gov. Ron DeSantis has set aside for a special session of the Florida Legislature to address a number of changes that could ameliorate what many have called a property insurance …
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Chubb Posts Record Q1 P/C Underwriting Income
Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.30 billion billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3 billion. The P/C …
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Credit Suisse Investors Push for Faster Climate Action
A group of Credit Suisse investors pushing for faster climate action at the Swiss bank has more than doubled in size, raising pressure on its board ahead of its annual shareholder meeting on Friday. Credit Suisse, along with other major …
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Climate Votes Fought by Major Oil Companies Get Key Backing
An investor-led push for major oil companies to set climate goals in line with the Paris agreement won support from a key proxy advisory firm for the first time, setting up a showdown at upcoming shareholder meetings. Institutional Shareholder Services …
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Carolina People: Owens Agency Promotes One, NC DOI Elevates Three
Owens Promotes Johnson Owens Insurance Agency, based in Greer, South Carolina, has promoted Sandra Johnson to be director of operations. Johnson, who joined the agency a decade ago, has served as the agency’s point of contact for carriers. She will …
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Premiums for Florida Cat Fund to Jump 12% This Year, Report Shows
Premiums paid to the Florida Hurricane Catastrophe Fund are expected to increase by more than 12% later this year, giving new urgency to calls to cut the fund’s retention level in half, a move that some estimates show could save …
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Popular Garlic Festival in California Canceled over Insurance, Pandemic
This year’s edition of California’s beloved Gilroy Garlic Festival has been canceled and the annual event’s future is uncertain, organizers announced. The celebration of the pungent vegetable has been held for more than 40 years, drawing huge crowds over three …
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Worker Died of COVID After Staff Meeting at Washington Business
An investigation into the COVID-19 death of a worker at a Sumner, Washington, fish processing plant found company leaders knowingly putting workers at risk of exposure to the virus. The Washington state Department of Labor & Industries cited and fined …
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Massachusetts Approves 3.6% Workers’ Compensation Rate Decrease
The state’s insurance commissioner has approved an overall average decrease of 3.46% in workers’ compensation rates starting July 1, 2022 for Massachusetts businesses. Massachusetts businesses will save approximately $80 million under the settlement. The cut was negotiated after the industry’s …
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Monday, April 25, 2022
Obama Relatives Sue Wisconsin School Alleging Racial Bias
The brother of former first lady Michelle Obama and his wife are suing a private Milwaukee school alleging it refused to allow their two sons to re-enroll after they voiced concerns that racism and inappropriate conduct at the school had …
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Climate Change Exacerbates Extreme Weather in Europe: Report
Climate change produced another record-breaking year of extreme weather in Europe in 2021, triggering catastrophic flooding and the hottest summer on record, according to scientists at the Copernicus Climate Change Service. Summer temperatures in Europe last year were one degree …
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Britain to Write Rules Forcing Companies to Publish Plans for Net Zero Transition
Britain unveiled a new taskforce on Monday to write rules forcing financial firms and listed companies to publish plans from next year for transitioning to a net zero economy by 2050. Last November at the COP26 UN Climate Summit, British …
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Allstate to Increase Magnitude of Auto Rate Hikes in 2022
Allstate said it is raising auto insurance rates more due to continued upticks in physical damage and bodily injury severity. The personal property insurer said in a statement on April 21 that first quarter unfavorable non-catastrophe prior-year reserves re-estimates were …
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Column: Amid Increasing Abuse, Officials Walking Away From Youth Sports
By PAUL NEWBERRY AP Sports Columnist ATLANTA — When one looks at the ugly bruise encircling Kristi Moore’s left eye, it’s not surprising so many refs and umps are hanging up their stripes. Why put up with incessant taunts and …
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Sunday, April 24, 2022
Maine Court Rules Intertidal Zone Belongs to Beachfront Owners
A state judge has ruled that the intertidal zone belongs to beachfront property owners but the judge’s ruling didn’t specify what activities, if any, might be allowed there. The ruling was a setback for plaintiffs who sued last year to …
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Friday, April 22, 2022
CSAA in California Ourlines Carbon Reduction and Climate Commitments in ESG Report
CSAA Insurance Group in California announced a commitment to achieving a 50% reduction in carbon emissions and carbon neutrality by 2025 on the heels of the release of its 2021 Environmental, Social and Governance report. The report details progress across …
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Worn Tires a Factor In California Bus Crash, Investigation Shows
Excess speed and worn tires contributed to the crash of a bus on a rain-slick Southern California highway two years ago that killed three people and injured 18, according to a report released this week by the National Transportation Safety …
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Former eBay Executive to Plead Guilty to Cyberstalking Massachusetts Couple
A former eBay Inc. security executive intends to plead guilty to federal charges that he planned a cyberstalking campaign that targeted a Massachusetts couple whose online newsletter was seen as critical of the e-commerce company. James Baugh, eBay’s former senior …
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Feds Accuse Virginia Towing Firm of Illegally Selling Military Service Members’ Cars
Federal prosecutors have filed a lawsuit accusing a Virginia company of illegally taking and selling service members’ vehicles. The lawsuit filed Friday accuses Steve’s Towing of Virginia Beach of illegally seizing and selling vehicles belonging to seven service members, including …
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Thursday, April 21, 2022
California School District Settles Sex Abuse Suits for $13M
A Southern California school district has agreed to pay $13.75 million to settle civil lawsuits over a worker who admitted molesting elementary school students. The agreement was announced by attorneys for 10 former students from Liberty Elementary School in Riverside. …
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Impounded Russian Tanker to Be Released by Greece Amid Confusion Over Sanctions
A Russian tanker impounded by Greece this week and reportedly carrying Iranian oil will be released amid confusion about sanctions on its owners. “The coast guard has been ordered by the anti-money laundering authority to release the vessel,” a Greek …
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U.S. Justice Department Appeals Transportation Mask Ruling
The U.S. Justice Department on Wednesday appealed a judge’s ruling ending a mask mandate on public transportation and airplanes after the Centers for Disease Control and Prevention (CDC) said the measure was still needed. A U.S. district judge ruled on …
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Florida Agents Must Return $4M in Unearned Commissions From Insolvent Gulfstream
Insurer insolvencies are hard enough on policyholders and company executives, but local agents across Florida also are feeling the pain from one recent liquidation and may soon feel it from others. The Florida Department of Financial Services has notified agents …
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Ex-Legislative Equity Officer Files Oregon Suit for $1.2M
A man who was tasked with fielding complaints of harassment at the Oregon Capitol is suing, saying he was pushed out of the job after reporting serious problems in his office and in the upper ranks of legislative administration. Nate …
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Wednesday, April 20, 2022
Judge Approves $34M Settlement Over PFOA Contamination of Vermont Community
A federal judge has given final approval to a $34 million settlement in a class-action lawsuit against a plastics company over toxic chemical contamination of soil and groundwater in a southern Vermont community. Saint-Gobain Performance Plastics Corporation will pay $26.2 …
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New York Times Sues Defamation Plaintiff Under Expanded Anti-SLAPP Law
The New York Times sued an anti-immigration author for the cost of defending itself against defamation in the first lawsuit of its kind under New York’s recently expanded “anti-SLAPP” law to protect critical speech. The company is seeking unspecified fees …
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California Workers’ Comp Committee OKs 7.6% Pure Premium Filing
The governing committee of the Workers’ Compensation Insurance Rating Bureau of California authorized the WCIRB to submit a Sept. 1, 2022 pure premium rate filing to the California Insurance Commissioner that is on average 7.6% above the average approved Sept. …
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Tuesday, April 19, 2022
Travelers CEO Schnitzer: Loss Costs ‘Challenging as Ever to Predict’
In the words of its CEO, there’s a “fair amount to pay attention to” from the first-quarter earnings call of Travelers, as the P/C insurer grew net written premiums 11% to a record $8.4 billion. “Geopolitical risk is at a …
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Florida’s Harbour Agency Joins Renaissance Alliance
Harbour Insurance Agency in Florida has joined Renaissance Alliance, a national network designed to help agencies grow revenue. Harbour, with offices in Naples, North Naples, Estero and West Coral Springs, specializes in high-net-worth personal lines. Will Kastroll is founder and …
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Hospital Must Turn Over Info on Famous Cardiologist, Appeals Court Says
Once a party relinquishes information considered privileged, it cannot then claim that other information about the same subject must remain sealed, a federal appeals court found in a medical malpractice and fraud case that has resulted in three separate rulings …
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J&J Settles West Virginia Opioid Suit for $99 Million
Johnson & Johnson has agreed to pay $99 million to settle claims by West Virginia that it helped fuel an opioid addiction crisis in the state, removing the company from a trial that began earlier this month. West Virginia is …
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People Moves: Lockton Names Franze Senior Vice President; Gorst & Compass Adds Peterson in Pacific Northwest
Lockton named Jennifer Franze senior vice president in its Mountain West series. Franze has 15 years of experience servicing industries and sectors including higher education, technology, financial services, healthcare, and professional services. Most recently, she was with Aon. She was …
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Virginia Woman Bitten by Snake Endures Complex Disability, Financial, Legal Effects
It was the snakebite story shared around the globe. At least that’s how it felt to Rachel Myrick, who was bitten by a poisonous snake more than 41/2 years ago in the foyer of a Spotsylvania County restaurant. The “crazy …
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Former California Insurance Agent Arraigned for Stealing Premiums
Former California insurance agent Marc Leigh Miles, 71, formerly of Irvine, and currently residing in Eagle, Idaho, was arraigned on nine felony counts of grand theft, insurance fraud, and forgery after allegedly stealing $48,500 in premiums and a fraudulent claim …
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Coaching Youth Hockey Bonds Insurance Pros On & Off The Rink
Rob McGaver was a few months in to coaching his son’s youth hockey team when he wanted to know a little bit more about one of the other coaches, Chad Muchow. The two fathers had hit it off right away …
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He Didn’t Want a Birthday Party at Work, Wins $450,000 in Court
A Kentucky jury has awarded a man $450,000 who sued his employer after he asked them not to celebrate his birthday at work, and they did it anyway. Kevin Berling told his manager at Gravity Diagnostics in Covington in 2019 …
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Federal Judge Certifies Class Action vs. PGAC on Auto Policy Fees
A subsidiary of American Family Insurance now faces a federal class-action lawsuit in Florida, alleging it regularly charged auto policyholders a cancellation fee that was never mentioned in the policy. The size of the class will be at least 100 …
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Monday, April 18, 2022
Maryland Authorizes Remote Rather Than On-Site Reviews of MGAs
Insurance companies can conduct remote rather than on-site reviews of their managing general agents in Maryland beginning in October. Gov. Larry Hogan has signed legislation recommended by the state’s insurance regulator and passed by lawmakers. The law repeals the requirement …
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Container Ship Stuck for a Month in Chesapeake Bay Finally Refloated
A container ship the length of more than three football fields has finally been pried from the muddy bottom of the Chesapeake Bay more than a month after it ran aground. After two unsuccessful attempts to dislodge it, and the …
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Future Liability Releases at Center of Boy Scouts Bankruptcy
Protecting local Boy Scouts of America councils and troop sponsoring organizations from future liability for child sex abuse claims is critical to the national group’s reorganization plan, BSA attorneys told a Delaware bankruptcy judge April 12. Attorneys opposing the plan …
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Physical Therapists, Others Charged in Miami PIP Fraud Scheme
Two physical therapists and five other Miami people were arrested last week and charged with running an extensive auto insurance fraud ring, staging accidents and billing insurers as much as $161,000. Florida’s Department of Financial Services said that investigators had …
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King Brokerage Acquires Ameriway in NE Florida
The King Insurance brokerage firm has acquired Ameriway Insurance Co., based in Fernandina Beach, Florida, the companies announced. Ameriway provides commercial and personal lines coverage and was founded by Charles Hayes. He will continue to run the operation until his …
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Sunday, April 17, 2022
Maine Lawmakers Advance Bill Granting Tribes Sovereignty
The Maine House voted Thursday to give the state’s tribes the same rights enjoyed by Native Americans elsewhere across the country, a first step in an effort to uphold the tribes’ sovereignty. The 81-55 tally marked the first legislative vote …
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$400K Settlement for People Hurt by Damaged Sidewalks in California
San Diego has paid out $400,000 to settle lawsuits alleging the city is responsible for significant injuries caused by poorly maintained roads and sidewalks. The City Council approved approved the payouts unanimously last week, the San Diego Union-Tribune reported. They …
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California Plan Would Triple Sale of Electric Cars by 2026
California wants electric vehicle sales to triple in the next four years to 35% of all new car purchases, an aggressive target set as part of the goal to phase out the sale of gas-powered cars by the middle of …
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Friday, April 15, 2022
Georgia Insurance Owner Sentenced for Bankruptcy Violations
A Georgia insurance company owner has been sentenced to eight months in prison after prosecutors said he lied in bankruptcy court and on his federal tax returns. Jacques Andres Frym, 53, who owned businesses in the Savannah area, pleaded guilty …
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Relation Adds Yarborough Agency in South Carolina
Relation Insurance Services has continued its rapid expansion plan with the acquisition of South Carolina-based Ernie Yarborough Insurance Agency. Yarborough, headquartered in Columbia, South Carolina, was previously part of Nationwide Mutual Insurance’s exclusive distribution model, Relation said in a news …
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People: Lore Heads IAIABC, McPeak to USAA, Ford to Lockton Cyber, Bone to Trustmark
Lore Takes Helm at IAIABC The International Association of Industrial Accident Boards and Commissions, a guiding force for workers’ compensation regulators and the industry, has named Heather Lore executive director. Lore, based in Knoxville, Tennessee, has been with IAIABC since …
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EU’s Tweak to Sanctions Allows Some Aircraft Lessors to Sell Stranded Jets to Russia
An amendment to European Union sanctions last week created a potential path for some aircraft financiers to sell jets held in Russia to the airlines now operating them without permission. The measure, published April 8, will allow EU governments to …
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Thursday, April 14, 2022
After Suspending New HO Business, UPC Reorganizes Subsidiaries
Four months after its largest subsidiary stopped writing new homeowner business in Florida, United Insurance Holdings Corp. announced it would consolidate four of its companies into three. Publicly traded United, also known as UPC Insurance, owns Journey Insurance Co., American …
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Responses to U.S. SEC Climate Disclosure Rules Keep Coming in
There’s been a lot of ringing in on newly proposed rules from the Securities and Exchange Commission mandating that all publicly traded U.S. companies disclose their annual greenhouse-gas emissions and the climate risks their businesses face. SEC Chair Gary Gensler …
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Climate Change Exacerbates Africa Cyclones: Study
Extreme rainfall in southeast Africa has become heavier and more likely to occur during cyclones because of climate change, according to a new analysis released Monday [April 11] by an international team of weather scientists. Multiple tropical storms that pummeled …
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Dutch Bank ABN Amro Apologizes for Historical Role in Slave Trade
ABN Amro apologized on Wednesday for the pain and suffering caused by the involvement of the Dutch bank’s legal predecessors in the slave trade, plantation slavery and the trade in products that originated in slavery. The Dutch were involved in …
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Wednesday, April 13, 2022
U.S. Says Advanced Hackers Have Shown Ability to Hijack Critical Infrastructure
Advanced hackers have shown they can take control of an array of devices that help run power stations and manufacturing plants, the U.S. government said in an alert on Wednesday, warning of the potential for cyber spies to harm critical …
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Lighthouse in Rehab in Louisiana But Could Trigger Another Assessment in Florida
Because Lighthouse Property Insurance Co. is domiciled in Louisiana, Florida’s insurance regulators probably won’t put the troubled company through the receivership and liquidation process in the Sunshine State. But that doesn’t mean the Florida Insurance Guaranty Association will be able …
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Rhode Island to Get $15M in Pollution Settlement With Energy Companies
Rhode Island will get $15 million through a settlement with major oil and gas companies that allegedly polluted the state’s soil and groundwater with a gasoline additive, the attorney general announced. Rhode Island Attorney General Peter Neronha said the case, …
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California Appeals Court Says J&J Must Pay $302M in Pelvic Mesh Case
A California appeals court has upheld a lower court ruling that Johnson & Johnson must pay penalties to the state for deceptively marketing pelvic mesh implants for women, but reduced the amount by $42 million to $302 million. Johnson & …
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Former California Insurance Agent Arraigned for Allegedly Stealing Premiums
Formerly licensed insurance agent David Lance Hall, 64, of Bakersfield, California, was arraigned this week in Kern County Superior Court on six felony counts of theft and misappropriations of fiduciary funds after allegedly stealing money from his clients that was …
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Arbitrator Clears Police Officers Who Pushed Buffalo Protester But Lawsuit Continues
An arbitrator has ruled that two Buffalo police officers didn’t violate the department’s use-of-force guidelines when they pushed a 75-year-old protester to the ground in June 2020 during racial injustice protests following the murder of George Floyd in Minneapolis. The …
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New Mexico Wildfires Gained Amid Dry, Windy Conditions
It’s a simple recipe that requires only a couple ingredients, and New Mexico has them all. Strong winds, low humidity and dry conditions that stem from two decades of persistent drought combined this week for more critical fire weather across …
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University of Southern California Suing YouTubers for Pranks
The University of Southern California is suing two YouTube performers who the school says created panic after barging into classrooms to film prank videos for their channels. Court documents obtained by the Los Angeles Times claim the pair caused “terror …
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Philadelphia to Restore Indoor Mask Mandate Amid Covid Case Surge
Philadelphia is reinstating its indoor mask mandate after reporting a sharp increase in coronavirus infections, the city’s top health official announced Monday. Confirmed COVID-19 cases have risen more than 50% in 10 days, the threshold at which the city’s guidelines …
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Tuesday, April 12, 2022
World Insurance Expands in New Jersey with the Acquisition of J. Stine Agency
World Insurance Associates has acquired J. Stine Agency, Inc. of Little Silver, New Jersey. Terms of the transaction were not disclosed. Stine Agency is a family owned agency offering flood, home, life, auto, boat, business and health insurance. World Insurance …
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Bar Owners Get No Relief from Florida’s COVID Shut-Down Orders
Florida’s 5th District Court of Appeal has affirmed a trial court’s dismissal of a suit brought by bar owners in Orlando who were shut down during the COVID-19 pandemic. Orlando Bar Group and its three establishments had sued Gov. Ron …
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Court Won’t Intervene on Request to Show Morgan & Morgan’s Relationship with Injury Doctors
Six months after the Florida Supreme Court held that insurance companies’ financial connections to expert witnesses can be revealed in litigation, a state appeals court won’t force discovery of similar information about one of Florida’s largest plaintiffs’ firms. Although the …
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As Sea Levels Rise, Can Chesapeake Bay’s Tangier Island Survive?
TANGIER ISLAND, Virginia (Thomson Reuters Foundation) – James “Ooker” Eskridge’s family – like those of many of his neighbors – has lived on this isolated island in Virginia’s Chesapeake Bay for generations. But its long traditions, which include crabbing and …
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Vermont Opioid Deaths Rose 33% to Record in 2021
The number of opioid-related overdose deaths in Vermont increased by 33% in 2021 to a record number of 210 fatalities, the Vermont Health Department reported. The report released this week found that fentanyl was involved in 93% of last year’s …
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Monday, April 11, 2022
Fire Destroyed Northern California Home Depot Store
A weekend fire gutted a Home Depot store in the San Francisco Bay Area, sending up a huge plume of smoke and prompting orders for some nearby residents to shelter in place, authorities said. The five-alarm blaze in South San …
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Generali Shareholders Urged to Back Reappointment of CEO Donnet
Leading investor advisers have recommended shareholders at Generali back the proposal by the Italian insurer’s outgoing board to hand CEO Philippe Donnet another term at the helm, documents showed on Saturday. In reports issued by Institutional Shareholder Services (ISS) and …
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Appeals Decisions Give New Ground for Bad-Faith Claims but Support PIP Rules
Appeal courts handed a down potentially costly ruling for auto insurers in Florida, along with some further clarity on the maximum medical costs insurance companies can choose to pay after an accident. First, the U.S. 11th Circuit Court of Appeals …
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Maine Lawmakers Move to Phase Out PFAS
Lawmakers in Maine have made a move toward banning pesticides that contain long-lasting chemicals. The proposal would ban distribution of pesticides with intentionally added perfluoroalkyl or polyfluoroalkyl substances by 2030. The Maine House of Representatives approved the ban Thursday, the …
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People Moves: Island Names Bruhl Chief Investment Officer; Builders & Tradesmen’s Insurance in California Adds Bogue
Island Holdings Inc. named Robert Bruhl chief investment officer and executive vice president. Bruhl oversees the company’s treasury portfolio and will be responsible for optimizing current investments, refining investment strategies and initiatives, and identifying opportunities for both long- and short-term …
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Sunday, April 10, 2022
California Contractor Arraigned for Workers’ Comp Fraud
Adan Deniz, 43, a contractor from Santa Clarita, California, was arraigned today on 21 felony counts of forgery, theft by false pretense, and workers’ compensation insurance fraud after allegedly creating fraudulent certificates to secure jobs and underreporting payroll by over …
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Friday, April 8, 2022
Hub International Buys Maryland Broker Marketing Management Associates
Global insurance broker Hub International has acquired the assets of Marketing Management Associates, Inc. of Landover, Maryland. Terms of the transaction were not disclosed. Marketing Management Associates is a commercial and personal lines insurance agency. The Marketing Management Associates team …
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U.S. Supreme Court Mulls ‘Pill Mill’ Doctors’ Opioid Convictions
The U.S. Supreme Court on Tuesday wrestled with the circumstances under which doctors can be convicted of operating as drug dealers under the cover of their medical practices to illegally distribute opioid painkillers and other dangerous narcotics. The justices heard …
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New Lloyd’s Insurer Inigo Issues Inaugural Catastrophe Bond
Inigo Ltd., the new Lloyd’s insurer, has entered the catastrophe bond market for the first time, less than 18 months after the firm began writing its portfolio of specialty insurance and reinsurance. Montoya Re, launched on April 1, is a …
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Greensill Capital Still Has $9.3B to Pay on Its Notes After Its Collapse a Year Ago
Greensill Capital collapsed more than a year ago, but $9.3 billion of assets sold to investors as notes are yet to pay out. The lender, which collapsed in March 2021, sold short-term trade finance products to investors including funds run …
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Small Plane Crash Kills 2 in Central Texas; FAA, NTSB to Investigate
Two people were killed April 5 when the small plane they were flying in crashed near a Central Texas airport, officials said. Those aboard the single-engine Cessna TU206H were a man and a woman, according to the Texas Department of …
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Illinois HVAC Company to Pay $29,000 Penalty Over Clean Air Act Violations
The U.S. Environmental Protection Agency announced a settlement with JTR Heating and Air Conditioning, Inc. in Monee, Illinois, to resolve alleged violations of Clean Air Act stratospheric ozone regulations. EPA’s consent agreement and final order with JTR resolves alleged violations …
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Qatar Airways Says It Wasn’t Obliged to Accept Deliveries of Flawed Jets From Airbus
Qatar Airways said it wasn’t obliged to accept deliveries of Airbus SE A350 jetliners until an issue with surface paint is fixed, accusing the European planemaker of lowering its standards to minimize the problem. In a London court hearing on …
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Thursday, April 7, 2022
Takeaways from Our Conversation on ESG Risks in Cannabis
Environmental, social and governance may have rightly taken a backseat to Russia’s war on Ukraine, but it’s still a big part of the world nowadays. The concept of being environmentally friendly and socially conscious in the corporate cannabis world is …
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Takeaways from Our Conversation on ESG Risks in Cannabis
Environmental, social and governance may have rightly taken a backseat to Russia’s war on Ukraine, but it’s still a big part of the world nowadays. The concept of being environmentally friendly and socially conscious in the corporate cannabis world is …
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Contractor, Agency Face $10M Lawsuit in Oregon for Construction Work
TriMet is facing a $10 million lawsuit from the city of Portland, Oregon, for alleged deeply flawed work on a streetcar track, leaving it with major structural defects that could cost the city millions in repairs. Oregon Public Broadcasting reported …
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Pennsylvania Approves 6.25% Workers’ Compensation Cost Cut
Workers’ compensation costs for employers in Pennsylvania are going down for the sixth straight year. Acting Insurance Commissioner Michael Humphreys approved a loss-cost filing, including a 6.25% reduction in loss costs, which should lead to lower premiums for many Pennsylvania …
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Insurers Found Liable for $101M Payment into Lead Paint Abatement Fund
Taking a calculated risk by selling a hazardous product isn’t the same as intentionally causing harm. For that reason, insurers must cover a court judgment that requires the company that sold Dutch Boy lead paint to pay $101 million into …
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Wednesday, April 6, 2022
Smart & Final Paying for Egg Price Gouging in California During Pandemic
Grocery chain Smart & Final has agreed to pay $175,000 in penalties to resolve allegations that the grocer engaged in price gouging of certain organic and cage-free eggs at the beginning of the coronavirus pandemic, state authorities said. California Attorney …
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From Roof Building Codes to ‘Matching’ Limits, Winds of Change are Blowing in Florida
Property insurance companies and roofers in Florida don’t often see eye-to-eye. Insurers have frequently blamed unscrupulous contractors for jacking up claims, and roofing companies have sued insurance carriers, blaming them for systematically denying roof work. So it may come as …
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New Hampshire Transparency Law Leads to Release of List of Cops With Infractions
New Hampshire released an expanded list Tuesday of police officers who it determined may have credibility concerns due to a range of infractions from excessive force to lying. The list of 174 officers, released following legislation passed last year, aims …
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Supreme Court Removes an Obstacle to Malicious Prosecution Lawsuits
The U.S. Supreme Court on Monday eliminated one of the hurdles facing individuals looking to sue for being falsely accused of crimes. In Thompson v. Clark, a majority (6-3) of the high court not only acknowledged a claim for malicious …
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People Moves: Lockton Names Brown President of P/C for Mountain West; McGriff Adds Anderson in Colorado
Lockton promoted Ted Brown to president of property/casualty for the Mountain West region. Brown will focus on client experience and growing Mountain West’s P/C business. He joined Lockton in 2007. Lockton is an independent insurance broker based in Kansas City, …
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Tuesday, April 5, 2022
Grounded Tanker Ever Forward to Be Unloaded Before Next Refloat Try
After two unsuccessful attempts to free the grounded Ever Forward in the Chesapeake Bay, the U.S. Coast Guard announced that containers will be removed to lighten the load before another try. Salvage experts determined they wouldn’t be able to overcome …
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Massachusetts Firms Owe Treble Damages for Delayed Wages, State’s Supreme Court Says
Massachusetts law requires that an employer who is late with wage payments to a fired employee must pay three times the late wages and benefits in damages, not just treble interest, the state’s high court has said. A trial judge …
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Delaware Man With 9 DUI Arrests Charged With Number 10
A Delaware man has been arrested and charged drunken driving for the 10th time, state police said. Authorities said 54-year old Charles Smith of Millsboro was arrested for a 10th-offense DUI following a crash Thursday morning. Investigators said troopers were …
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Workers Hurt When Building Collapses in Indiana
A building under construction collapsed, injuring at least two construction workers, authorities said. The building was under construction in the town of Whiteland, about 20 miles south of Indianapolis. Three construction workers were at the site of building working, Whiteland …
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Arkansas Supreme Court Rules for Appellant in Elapsed Time Workers’ Comp Case
The Supreme Court of Arkansas has reversed and remanded a decision in an appeal of the Arkansas Workers’ Compensation Commission’s denial of a claim for additional medical benefits of an appellant over a time-limit in state code. The appellant, Terry …
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Minnesota Lawmakers Reach Deal to Extend Reinsurance Program
Legislative leaders announced a bipartisan deal to extend Minnesota’s health care reinsurance program, beating a deadline by one day in a move to hold down premiums for residents who buy their health insurance on the individual market. The $700 million …
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Monday, April 4, 2022
10 Startup Tech Firms Qualify for New York’s Innovation Lab 2022
Ten emerging technology companies have been selected to participate in the 2022 FinTech Innovation Lab New York, setting them up for a 12-week program working with financial services and venture capital executives. This year’s participants, selected from nearly 200 applicants …
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Thailand Revokes Licenses for Two P/C Insurers
Thai Finance Minister Arkhom Termpittayapaisith has revoked the insurance licenses of two companies — Southeast Insurance Pcl and Thai Insurance Pcl — controlled by billionaire Charoen Sirivadhanabhakdi. The firms were in serious financial trouble, which could have damaged their clients …
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Mediterranean Marine Fuel Suppliers Stop Serving Russian Ships: Sources
Marine fuel sellers have stopped serving vessels flying the Russian flag at major European hubs including Spain and Malta in another blow to Moscow’s exports, five industry sources with knowledge of the matter told Reuters. Losing access to refueling points …
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Sunday, April 3, 2022
Nationwide Doesn’t Have to Defend in Suit Against Alabama Child Molester
Nationwide Mutual Insurance Co. does not have to defend its insured, an Alabama man who abused a 10-year-old girl, leaving the victim with little recourse for winning significant civil damages, a federal appeals court decided last week. The 11th U.S. …
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New Hampshire High Court Limits Landowners’ Recreational Use Immunity
New Hampshire landowners who make their properties available to the public for recreation at no charge do not enjoy complete immunity under the state’s recreational use statute. Landowners have immunity from negligence only where the victim of negligence is actually …
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Maryland Voters Will Get to Decide Recreational Cannabis in November
Maryland lawmakers voted Friday to let voters decide whether to legalize recreational marijuana in November. The Maryland House voted 94-39 for a constitutional amendment already approved by the Senate. The House also voted 89-41 for a separate measure that takes …
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Virginia School Allowed to Use Disputed Admissions Policy During Appeal
A federal appeals court has granted a request from a northern Virginia school system to continue using a challenged admissions policy at a highly selective high school while it appeals a ruling that found the policy discriminates against Asian American …
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Saturday, April 2, 2022
Sixth Court Sides With Distributor in Ohio Opioid Lawsuit Jurisdiction Dispute
An Ohio district court correctly granted a pharmaceutical distributor’s motion to remand to state court a case regarding whether its insurer must provide defense in ongoing opioid litigation, the U.S. Court of Appeals for the Sixth Circuit ruled. In a …
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Friday, April 1, 2022
Marsh McLennan Commits to Net-Zero Across Operations by 2050
Marsh McLennan announced its commitment to set and execute low-carbon transition strategies that chart a path to net-zero across its operations by 2050 and reduce its emissions by 50 percent by 2030. The company will also set an emission reduction …
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Amica CEO DiMuccio to Retire at End of 2022
After 31 years at Amica Mutual Insurance, including 17 years as its CEO, Robert A. “Bob” DiMuccio will retire at the end of 2022, the company announced. “It has been an honor to serve as Amica’s CEO. You’re only as …
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With Florida Rulings, Will More Insurers Require Arbitration in Claims Disputes?
A decision handed down Thursday by the Florida Supreme Court, along with a recent ruling by state regulators, could give insurers another tool that could be used to stem the tide of claims litigation. In AirBnB Inc. vs. John Doe, …
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Parents of Teen Shot on Bridge Sue Pennsylvania State Police, District Attorney
The parents of a 19-year-old man who was killed by state troopers on an overpass in the Pocono Mountains filed a wrongful-death suit Wednesday, saying video that Pennsylvania State Police initially tried to keep secret shows he was pointing a …
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