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Today's Headlines

 
March 8, 2022
 
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National

 

Insurers Refuse to Pick Up Bill for Billions in Opioid Claims

A multibillion-dollar bill is coming due for the U.S. opioid epidemic and insurers for some of the largest drug makers, distributors and...
 

APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners Lines

US Insurers -- already hammered by extraordinary losses caused by natural disasters -- are also failing to raise premiums at a pace that...
 

J&J's Controversial Prison Testing Resurfaces in Baby Powder Lawsuits

More than 50 years ago, nearly a dozen men incarcerated outside of Philadelphia enrolled in an experiment funded by Johnson & Johnson,...
 

Insurtech Root Focused on Embedded Insurance, CEO Says

While he didn't say that distribution of Root Insurance products through independent agents was off the table in 2022, the insurtech's...
 

Wall Street Regulator to Propose Climate Risk Rule As Early As March 16, Say Sources

The U.S. Securities and Exchange Commission (SEC) plans to propose its landmark climate risk rule as early as Wednesday, March 16, said...
 

Zywave Agrees to $11 Million Fund to Settle ITC Data Breach Lawsuit

Insurance technology provider Zywave has agreed to offer an $11 million fund to settle a class-action lawsuit related to a data breach at...
 

U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021

Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021...
 

P/C Industry Profits in Current Cycle Lagging Last Hard Market

[no_auto_dropcap]U.S. property/casualty insurers have benefited from significant increases in commercial premium rates...
 
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Featured Events

 
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East

 

Vermont Court Sides With Ambassador Insurance in Allocation of Asbestos Losses

The Vermont Supreme Court has denied a bid by a manufacturer of asbestos products to bypass Vermont law in determining the allocation of...
 

Maine Ski Lift Accident Could Have Been Worse

A ski lift accident that sent a gondola falling to the ground at Sunday River Resort in western Maine could have been far more serious....
 

Eastern Insurance Acquires Michals Agency in Massachusetts

Natick, Massachusetts-based Eastern Insurance Group reports it has acquired the operating assets of Michals Insurance Agency, an...
 
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Midwest

 

Missouri Cement Company Fined $17K For Shorting Pay of Worker

A federal administrative law judge in Washington, D.C., has ordered a Hannibal, Missouri cement company to pay a worker the company...
 

Experts Warn Central U.S. Needs to be Ready For Next Earthquake

Experts have warned for decades that a large swath of the central U.S. is at high risk for a devastating earthquake. They know that...
 

North Dakota Farmer Pleads Not Guilty to Insurance Fraud

A central North Dakota farmer has pleaded not guilty to crop insurance fraud. Kent Pfaff, 58, of the Washburn area, has been released on...
 
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AmTrust's Warranty Survey Report reveals an opportunity in the marketplace to improve offerings and expand warranty adoption across all categories.
 
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Southeast

 

Avatar Becomes Second Florida Insurer to Become Insolvent This Year

Two weeks after St. Johns Insurance Co. was declared insolvent, Florida regulators have taken steps to begin liquidating Tampa-based...
 

Miss. Supreme Court: No Sanctions for Insurer that Fought Septic Tank Order

In a workers' compensation case that has been called "highly unusual," Employers Insurance Co. of Wausau has avoided having to pay for a...
 

Judge Gives Nod to Surfside Unit Owners' $83M Settlement

A judge has given preliminary approval to a settlement agreement that would allocate $83 million to individual owners of condominium...
 

4th Circuit Affirms Decision Rejecting Art Studio's COVID-19 Claim

Another federal appellate court ruled Monday that a business interruption caused by COVID-19 does not amount to a physical damage or loss...
 
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South Central

 

FMCSA Declares Texas Motor Carrier to be an Imminent Hazard to Public Safety Following Fatal Crash

The U.S. Department of Transportation's Federal Motor Carrier Safety Administration (FMCSA) has declared Koboat Trucking LLC, USDOT No....
 

AM Best Upgrades Credit Ratings of Oklahoma Farm Bureau Mutual Insurance Co.

AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb+" (Good) from "bbb" (Good) and affirmed the Financial...
 

Texas Supreme Court: Anti-Indemnity Act Doesn't Cover Crane Operator

The Texas Supreme Court ruled that a Texas Workers' Compensation Act (TWCA) provision for what constitutes an employee does not affect...
 
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West

 

ALKEME Acquires Chergey Insurance in California

ALKEME acquired Chergey Insurance in Thousand Oaks, California. Chergey Insurance offers services including workers' compensation,...
 

Hub Acquires Pacific Northwest Insurance in Washington

Hub International Ltd. acquired the assets of Pacific Northwest Insurance Inc. in Kirkland, Washington. Robert James, principal of PNI,...
 

Washington Contractor Sentenced in Fatal Workplace Trench Collapse

A Seattle, Washington, construction company owner is facing jail time in a case that's holding an employer criminally responsible for a...
 

Climate Experts Say Much of Northwest May Stay Drought-Stricken

Climate experts from Oregon, Washington and Idaho say most of the Northwest remains locked in drought and that the region is unlikely to...
 

Judge Dismisses Suit in Fatal Police Shooting in Utah

A federal judge has dismissed a wrongful death lawsuit filed by the family of a Utah man who was shot at nearly 30 times and killed as he...
 
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International & Reinsurance

 

EXPLAINER - How Sanctions Against Russia Are Hitting Global Aviation Industry

Russia's size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its...
 

Russia's Sovcomflot Re-Routes Tankers to Bahamas Amid Growing Sanctions

At least three tankers controlled by Russian maritime powerhouse Sovcomflot that have been unable to deliver their cargoes due to Western...
 

How Cloud Downtime Insurance Became a Thing

A single hour of downtime from mission-critical, third-party IT service providers can cost small and medium-sized enterprises tens of...
 

As Foreign Seafarers Are Evacuated From Ukraine, Mariners Count Cost of War

Bangladeshi seafarer Asiful Islam recalls the moment when a missile struck his cargo ship last week off the Ukrainian port of Olvia,...
 

Sydney Faces 'Tough 24 Hours' as Floods Force Evacuations

Flood warnings stretched across Australia's east coast on Tuesday and tens of thousands of Sydney residents fled their homes as...
 

U.S. Broker Brown & Brown Agrees to Acquire UK's Global Risk Partners Ltd.

U.S. broker Brown & Brown Inc. has entered into an agreement to acquire Global Risk Partners (GRP) from its private equity owner...
 

Gallagher Launches Insurance Business in Dubai International Financial Centre

Insurance broker Gallagher has launched a new business in the Dubai International Financial Centre (DIFC) to support clients across the...
 

UK's Specialist Risk Group Becomes Member of Worldwide Broker Network

The Worldwide Broker Network (WBN), the global network of independent insurance brokers and employee benefits consultants, announced that...
 
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Insurance Journal Blogs and Columns

 

Russian invasion leads to its insurance market isolation

Any major event or upheaval that affects the economy, the environment, technology, health or law somehow touches insurance. War is no...
 
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Research and Webinars

 
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3 Success Stories of Agency Growth - Implement these Strategies in 2022

Independent agents and dedicated agents looking to transition to an independent career have a lot to contemplate when...
 
research

Beyond Burnout-Redefining a New Era in the Work Place

In a new report, Beyond Burnout—Redefining a New Era in the Work Place, Cake & Arrow gets to the heart of how people's...
 
research

The 5 Critical Things You Need to Know about Growing Your Agency

Want to experience real growth at your agency? You might need to reconsider where you are focusing your attention. Some agents...
 
research

Three Keys to Differentiating Your Brokerage

In an increasingly crowded and commoditized market, brokers are faced with minimal customer loyalty and look to differentiate...
 
More research and webinars »
 
 

Insurance Journal TV

 
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EP. 42: Cannabis Supply Chain Risks Worth Tripping Over

Everyone knows about supply chain management nowadays thanks to the pandemic, with shelves...
 
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EP. 31: More Than a Conversation: Cyber, Insurance Pros Say Building Diversity Means Taking Action

The cybersecurity and insurance industries have been talking about prioritizing diversity,...
 
Watch more videos at InsuranceJournal.tv »
 
 
 
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