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July 27, 2022
 
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National

 

Teva Reaches Proposed $4.35 Billion Settlement of Opioid Lawsuits

Teva Pharmaceutical Industries on Tuesday announced a $4.35 billion proposed nationwide settlement that could resolve thousands of...
 

Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon

Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18% higher than the 21st...
 

3M Unit Goes Bankrupt in Bid to Resolve Lawsuits Over Military Earplugs

3M Co. put its Aearo Technologies unit into bankruptcy in a bid to resolve more than 230,000 lawsuits brought mainly by US military...
 

Ford Bronco Engine Failures Prompt US Safety Investigation

Ford Motor Co.'s hot-selling Bronco sport-utility vehicle is the subject of a safety investigation by federal regulators for catastrophic...
 

'Cryptojacking' Attacks on Financial Firms Surged in First Half

Hackers are increasingly targeting financial firms such as banks and trading houses with attacks designed to use their computer systems...
 

People Moves: Mann New Verisk CFO; Furlong SVP at Acrisure Re; NFP Hires Michaelson to Energy Practice

Verisk Names Elizabeth Mann Chief Financial Officer Elizabeth Mann has been named executive vice president and chief financial officer...
 

Chubb Q2 Net Income Drops $1 Billion; Books Record Insurance Results

Chubb Ltd. late Tuesday said second quarter net income was about $1.22 billion, more than a 46% fall from $2.27 billion in net income...
 

Travelers CEO on Signs of Recession: 'Not Yet'

With inflationary effects still hitting the books of property/casualty insurers, including Travelers, analysts are...
 
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East

 

Pennsylvania's Auto Insurance 'Regular Use' Exclusion Faces State High Court Scrutiny

The Pennsylvania Supreme Court has agreed to consider a case that could limit application of the "regular use exclusion" in auto...
 

Trial Begins for Truck Driver Charged in New Hampshire Crash That Killed 7 Motorcyclists

The trial for a commercial truck driver charged with causing the deaths in 2019 of seven members of a Marine motorcycle club will open...
 

People Moves: American Family's McElwee Takes Over at Plymouth Rock as Long-Time Leader Belodoff Retires

The Plymouth Rock Co., parent company of auto and home insurance providers in the Northeast, announced that Andrew McElwee is its new...
 

Hub Acquires Stop Loss Brokers in Massachusetts

Global insurance broker HUB International Limited (Hub) reported that it has acquired the assets of Stop Loss Insurance Brokers, Inc. and...
 
More East News »
 
 
 
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Midwest

 

Record Rainfall Causes Widespread Flooding Across St. Louis Region

Record rainfall caused widespread flash flooding across the St. Louis area early Tuesday, closing multiple roadways and prompting rescues...
 

Michigan Jury Gets Flint Water Case About Liability for Engineers

Jurors heard closing arguments last week in the only trial to arise thus far from the Flint water crisis, a dispute over whether two...
 

Officials Investigate Missouri Theme Park Worker's Death

An employee of Silver Dollar City near Branson, Missouri has died from head injuries while working at the park, federal officials said....
 
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Insurance Jobs

 

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Southeast

 

Crist Slams DeSantis for Florida Insurance Crisis; Fried Blames Crist

U.S. Rep. Charlie Crist, the Democratic frontrunner for governor of Florida, this week sharply criticized incumbent Gov. Ron DeSantis for...
 

Slump in Auto Sales Leads to Outlook Downgrade for Discovery Insurance in Carolina

AM Best financial rating service announced it has downgraded the outlook for North Carolina-based Discovery Insurance Co., from stable to...
 

Third Person Dies After Suspicious House Fire in Nashville

A third person has died from injuries after a suspicious house fire in Nashville, Tennessee, police said. Michael Young, 44, was...
 

Florida Regulators Unveil Ratings Crisis Solution: Let Citizens Reinsure Carriers

Florida's insurance commissioner announced today that his office has found an "unprecedented solution" to the pending property insurer...
 
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South Central

 

Charter Spectrum Hit With $7.3B Verdict in Texas over Murder of 83-Year-Old

Charter Communications was hit with a combined $7.37 billion verdict - including $7 billion meant to punish the company - for systemic...
 

Woman Pleads Guilty in Louisiana Staged Auto Collision Scheme

United States Attorney Duane A. Evans announced that Stacie Wheaton, age 51, of Fairburn, Georgia, pled guilty on July 21, 2022 to count...
 
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West

 

Alaska City Continues Long Recovery from Late 2020 Landslides

More than a year and half after the Haines landslides, organizations, both local and out-of-state, are still helping to repair damage...
 

Washington Department of Labor Issues Outdoor Worker Guidance Amid Heat Wave

The Washington Department of Labor & Industries is responding to potentially record-breaking temperatures across Washington this week and...
 

California Commissioner Announces Action to Protect Residents from Non-Renewals

California Insurance Commissioner Ricardo Lara on Tuesday sent out a message to residents in Mariposa County who have been ordered to...
 

Sponsored: Monarch E&S Pays Tribute to Dave Skogstrom

BURBANK, Calif., July 27, 2022 - Monarch E&S Insurance Services is saddened to announce the passing of Dave Skogstrom, Vice President of Personal Lines ...
 
More West News »
 
 

International & Reinsurance

 

Lloyd's Insurers Preparing to Cover Ukraine Grain

Lloyd's of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their...
 

Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon

Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18% higher than the 21st...
 

UK Insurers, Banks Risk Fines Under New Reforms Unless They Put Customers First

Financial firms may be fined and stripped of their regulatory authorization unless they put their customers' needs first under...
 

Corvus Insurance Opens Frankfurt Office

In what Corvus said is a first for a U.S.-based insurtech, the managing general agent has opened an office in continental Europe. This...
 

Powerful 7.1 Magnitude Quake Hits Philippines, Killing at Least 4

A powerful 7.1 magnitude earthquake struck the northern Philippine island of Luzon on Wednesday killing four people, damaging buildings...
 

Brown & Brown's GRP Acquires Insurance Portfolio of WM Brokers Ltd.

Global Risk Partners (GRP), part of Brown & Brown, announced it has acquired the general insurance portfolio of Woodward Markwell...
 

People Moves: Acrisure Re Hires Carpenter's Furlong; HDI Global Specialty Promotes Button for Distribution & Biz Devel.; Tokio Marine Names Former QBE Exec for Board

This edition of International People Moves details appointments at broker Acrisure Re and two insurers: HDI Global Specialty and Tokio...
 
More International & Reinsurance News »
 
 

Insurance Journal Blogs and Columns

 

North Texas Grass Fire Torches 20 Homes

A grass fire apparently sparked by a mower swept about 300 yards across a tinder-dry open field to a suburban Dallas subdivision Monday,...
 

Medicare Open Enrollment Season: Best Practices for Carriers, Agencies, and MGAs/MGUs

This post is part of a series sponsored by AgentSync. With pumpkin spice lattes nigh, we can nearly smell the coming of a very busy time...
 
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Research and Webinars

 
research

Biometric Authentication Explained

In a digital world, how can you be sure that someone is who they say they are? Or that they even exist at all? This book from...
 
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Online Face Verification in Insurance: 5 Ways To Enable Digital Transformation

How can insurance companies use online face verification as part of their digital transformation strategies? Download our report...
 
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Three Visions for Empowering Independent Agents

During the pandemic, Cake & Arrow conducted qualitative research with hundreds of gig workers and small business owners to...
 
research

Future-Proof Best Practices for Workforce and Safety Training

When it comes to safety and compliance a comprehensive training program is a must. We have gathered data across industries to...
 
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Around the World: Insurance, Climate Change, Disclosures, and Risk

Tune in Thursday, July 14th at 10am PT / 1pm ET for an expert panel discussion hosted by Insurance Journal. Here's what we'll...
 
More research and webinars »
 
 

Insurance Journal TV

 
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EP. 52: Cannabis Business Plaintiff's Attorney on Miscues That Should Get Insurers' Attention

Michael Sampson may not have a rabid fanbase among insurers and insurance attorneys, but his...
 
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EP. 51: Insuring Cannabis Seeds Specialty Promises to Grow

The U.S. Drug Enforcement Administration declared in an April memo that cannabis seeds that...
 
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