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Today's Headlines

 
May 9, 2022
 
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National

 

S&P Global Heeds Warnings, Withdraws Proposal for Insurer-Rating Changes

S&P Global Ratings said it is withdrawing a proposal to change the way it assesses risk-based capital adequacy for insurers and...
 

Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market

The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74%...
 

AGCO Ransomware Attack Disrupts Tractor Sales During U.S. Planting Season

U.S. agricultural equipment maker AGCO Corp. said on Friday a ransomware attack was affecting operations at some of its production...
 

Carlyle to Acquire NSM Insurance from White Mountains in $1.78 Billion Deal

Private equity firm Carlyle Group Inc. told Reuters on Monday it has agreed to acquire U.S. specialty insurance provider NSM Insurance...
 

Secrecy Over Condition of U.S. Dams Tied to Security Concerns, Missing Data

Americans wondering whether a nearby dam could be dangerous can look up the condition and hazard ratings of tens of thousands of dams...
 

Tesla, Echoing Musk, Says ESG Metrics Are 'Fundamentally Flawed'

Tesla Inc., whose Chief Executive Officer Elon Musk has criticized ESG for making little sense, said current ways of measuring...
 

Drones in Agriculture and More

Drones have become big business in the world of aviation. Today, drones represent the fastest-growing segment in transportation, with more...
 

Google Offers $100,000 Worth of Free Tech Training to Every U.S. Business

Alphabet Inc.'s Google will provide any U.S. business over $100,000 worth of online courses in data analytics, design...
 
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East

 

Exclusion Left Off Declarations Page Ruled Unenforceable 'Hidden Trap' in New Jersey

A three-judge New Jersey Superior Court appellate panel has ruled that an intra-family liability exclusion in a Travelers (St. Paul) auto...
 

New York City to Settle Lawsuit Over Wrongful Murder Conviction for $10.5M

New York City will pay $10.5 million to settle a federal civil rights lawsuit filed by a man who spent 24 years in prison on a murder...
 

Vermont Financial Services Regulator Pieciak Announces Run for State Treasurer

Vermont's former chief financial services regulator, Mike Pieciak, announced last Friday that he is running to be state treasurer....
 
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Midwest

 

Man Sues City of Milwaukee for $12M Over Wrongful Conviction

A man who spent 12 years in prison for a homicide he didn't commit has filed a $12 million federal lawsuit against the city of Milwaukee...
 

Wisconsin County Sues Foam Makers Over PFAS Pollution

Dane County, Wisconsin officials are suing dozens of fire-fighting foam manufacturers alleging their products contaminated the area...
 

Minnesota Senate Passes Bill to Distribute $300M Opioid Settlement

The Minnesota Senate last week voted unanimously to create a framework for distributing about $300 million that the state is receiving as...
 
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Insurance Jobs

 

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Southeast

 

Another Florida Insurer Adds Binding Arbitration Endorsement Amid Losses

Heritage Property & Casualty Insurance Co. reported more losses for the first quarter of 2022 and a spike in its combined ratio. But...
 

OSHA Fines Florida Utility $500,000 for Power Plant Deaths of Five Workers

A Florida power company has agreed to pay a $500,000 fine for a 2017 explosion that left five workers dead. Tampa Electric Co. has...
 

West Virginia Governor Declares Emergency After Flooding in Three Counties

West Virginia Gov. Jim Justice declared a state of emergency for three counties following heavy rains that caused significant local...
 
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South Central

 

Oklahoma Sues Operator of State Park Restaurants Over Contract Breach

The embattled director of the Oklahoma Tourism and Recreation Department resigned and the state filed a lawsuit against the operator of...
 

Revised Online Speech Policy Ending Suit Against New Orleans

A federal lawsuit accusing the New Orleans city government of infringing on employees' online free speech rights has been settled after...
 

Drought in Texas, Louisiana and Arkansas Opens Loans for Farmers

The U.S. Department of Agriculture says drought during the growing season has made farmers in most of Texas, all of Louisiana and parts...
 
More South Central News »
 
 

West

 

Artificial Intelligence Being Used to Battle Western Wildfires

With wildfires becoming bigger and more destructive as the West dries out and heats up, agencies and officials tasked with preventing and...
 

New Mexico Residents Brace for Extreme Wildfire Conditions

With the worst of the thick wildfire smoke having blown out of town, residents of this small northern New Mexico city tried to recapture...
 

Task Force: Idaho Must Shore Up Cybersecurity

Idaho needs to be better prepared to defend against inevitable cyberattacks that could harm individuals, businesses and critical...
 

Armored Car Company Settles California Suit over $1 M Pot Sale Seizures

An armored car company has settled its lawsuit that accused the San Bernardino County sheriff of illegally seizing over $1 million in...
 

Report Forecasts 'Above-Normal' U.S. Wildfire Season, Worse in Drought-Plagued West

The U.S. has in store an "above-normal" wildfire season if a prediction out on Wednesday from fire weather experts holds true - "intense"...
 
More West News »
 
 

International & Reinsurance

 

EU to Weaken Russia Oil Sanctions, but Keeps Plan to Prohibit Insurance of Shipments

The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a...
 

Generali Increases Stake in Indian Non-Life Joint Venture

Italy's top insurer Generali said on Friday it had completed the acquisition of a 25% stake in its Indian non-life insurance joint...
 

Software Company SAP Wrestles With Concerns Over Gender Equality, Senior Exits

Christian Klein was in his second year as chief executive of SAP SE in January 2021 when he addressed a staff meeting to field questions...
 

Foreign Institutional Investors Steer Clear of India's Biggest IPO

Foreign institutional investors have on the whole steered clear of India's biggest share sale, deeming it too expensive given currency...
 

People Moves: Chubb Canada Names Johnstone President as Alfieri Retires; MGA Loadsure Promotes; Canopius Names Atrium's Wallace for Marine Treaty

This edition of International People Moves details appointments at Chubb Canada, insurtech MGA Loadsure and Lloyd's re/insurer Canopius....
 

Rescuers Search for Survivors After Powerful Explosion at Havana Hotel

Relatives of the missing in Cuba's capital desperately searched Saturday for victims of an explosion at one of Havana's most luxurious...
 

With Inadequate Natural Catastrophe Prices, Swiss Re Gives Florida a Wide Berth

Premium rates for natural catastrophe risks in Florida continue to be inadequate, which is why Swiss Re is giving that market a wide...
 
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Insurance Journal Blogs and Columns

 

What's on the Menu? Choosing the Right Cash Management Products for Your Agency

This post is part of a series sponsored by InsurBanc. Choosing the right cash management products for your agency can be overwhelming. It...
 
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Research and Webinars

 
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Attaining Compliance in the Cannabis Universe

Compliance in the cannabis industry is fraught with risk across areas like licensing, equipment, testing, distribution, and...
 
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How the "Work" in Workers' Comp Is Changing

The Great Resignation. Labor shortages. Remote work. How are today's workplace trends affecting workers' compensation? Join us...
 
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Current Trends and Emerging Threats for Underwriters and the Cyber Insurance Market

This report analyzes the top 99 insurance companies by net premiums written in order better understand their cyber posture and...
 
research

Recruit and Retain Good Producers with Automation

Wasting time on repetitive producer management tasks is limiting your ability to grow quickly. Read this whitepaper from...
 
research

EP. 7: Strategy Sessions - What is Embedded Insurance, and Is It the Future?

Strategy Sessions – A Lunch Hour Look at Critical Topics with Industry Movers and Shakers   Episode 7:  What is Embedded...
 
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Insurance Journal TV

 
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EP. 47: Cannabis Data Chief on Industry Growth, Opportunities

The cannabis business is big bucks. Global cannabis sales for 2022 will reach just over $35...
 
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EP. 46: You've Heard it Before, So Here it is Again: D&O is a Tough Pill for Cannabis

Directors and officers is a tough line of business, no matter what industry is footing the...
 
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