Sun.Sep 15, 2024

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23andMe Settles Data Breach Lawsuit for $30 Million

Insurance Journal

23andMe will pay $30 million and provide three years of security monitoring to settle a lawsuit accusing the genetics testing company of failing to protect the privacy of 6.

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What Is Recoverable Depreciation in Home Insurance?

Property Insurance Coverage Law

If you’ve suffered property loss or damage, knowing what your insurance covers is crucial. Understanding recoverable depreciation can help policyholders get the full replacement cost for damaged or destroyed items, not just their depreciated value. In this blog, we cover what recoverable depreciation is, why it matters, and how it works in real-world scenarios.

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EverPeak Insurance Launches in Arizona

Insurance Journal

EverPeak Insurance is launching operations in Arizona. EverPeak specializes in workers’ compensation coverage for small businesses and those in hard-to-place industries.

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Offshore tug catches fire, 15 crew evacuated

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Offshore tug catches fire, 15 crew evacuated appeared first on Insurance Marine News.

Marine 104
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Pittsburgh Offers $500,000 to Settle Bridge Collapse Lawsuits

Insurance Journal

The city of Pittsburgh is seeking approval of a half-million-dollar payment to settle lawsuits over the collapse of a bridge into a ravine more than 2 1/2 years ago.

Liability 276
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One in five Russian tankers are refusing pilots in Danish Straits

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post One in five Russian tankers are refusing pilots in Danish Straits appeared first on Insurance Marine News.

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Former UPS Driver Wins $238 Million Verdict in Suit Over Firing

Insurance Journal

A Black UPS driver won a $237.6 million jury verdict in a case in which he alleged he’d been discriminated against and subject to a hostile work environment before being fired.

Liability 264

More Trending

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Man Charged With Arson in Colorado Wildfire That Destroyed 29 Homes

Insurance Journal

A Colorado man was charged with arson after an investigation into a wildfire this summer that destroyed 29 homes and caused more than $30 million in property damage, authorities said.

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Salvors plan to resume tow of burned tanker Sounion in Red Sea

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Salvors plan to resume tow of burned tanker Sounion in Red Sea appeared first on Insurance Marine News.

Marine 105
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Walgreens Paying $106.8 Million to Settle Prescription Billing Fraud Charges

Insurance Journal

Walgreens Boots Alliance agreed to pay $106.8 million to settle charges it fraudulently billed the U.S. government for prescriptions that were never dispensed, the Department of Justice said on Friday.

Claim 264
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Lithuanian PM turns away the Ruby

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Lithuanian PM turns away the Ruby appeared first on Insurance Marine News.

Marine 104
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FBI: From Cybercrime to Terrorism, America Faces Many Elevated Threats ‘All at Once’

Insurance Journal

By Michael Goldberg The country is facing heightened threats from many corners at a time when law enforcement agencies are struggling, FBI Director Christopher Wray said in an exclusive interview with The Associated Press, adding that he is “hard pressed …

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KiwiRail fined NZ$260,000 for 2023 ferry blackout

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post KiwiRail fined NZ$260,000 for 2023 ferry blackout appeared first on Insurance Marine News.

Marine 100
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Worker’s Death in Ohio Prompts Concerns Over Remote Control Trains

Insurance Journal

The CSX worker who discovered his friend run over by a pair of remote-control locomotives in a rail yard last year sees a simple solution to preventing similar deaths in the future: two-person crews.

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Pelagic Partners sets up new venture with Fleetscape founder Tobias Backer at the helm

Splash: Finance and Insurance

Pelagic Partners has launched a new venture in London that seeks to bridge the financing gap in the shipping sector. The Cyprus-based owner and shipping fund manager has set up Pelagic Capital, which is designed to assist in building a dedicated credit fund and expanding the company into future projects.

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E&S Leaders Embrace the Risky Future

Insurance Journal

The property/casualty insurance industry and excess and surplus lines brokers in particular are at the world’s beck and call to help navigate what is an increasingly risky environment.

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Strong combined ratio performance from Group Clubs in 2023/24

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Strong combined ratio performance from Group Clubs in 2023/24 appeared first on Insurance Marine News.

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Vocational School Owner Arraigned in $1M Comp Fraud Case

Insurance Journal

Los Angeles area vocational school owner, Guillermo Frias, 65, of Paramount, and the school’s accounting manager, Yesid Colon, 54, of Baldwin Park, were arraigned following a California Department of Insurance investigation into allegations they submitted fraudulent claims to receive money …

Claim 246
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The pension fund transfer business needs urgent scrutiny

Elmore

Insurers are receiving a very handsome reward for such a low-risk business The post The pension fund transfer business needs urgent scrutiny appeared first on Elmore Insurance Brokers.

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How One Florida Engineer Tried to Blow the Whistle on Plaintiffs’ Expert Witnesses

Insurance Journal

By William Rabb He’s been called a “do-gooder,” a “troublemaker” and a whistleblower. And he may be the best friend the Florida property insurance industry has.

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Marine round-up : 16th September 2024

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Marine round-up : 16th September 2024 appeared first on Insurance Marine News.

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Selling an Agency: Plan Early for Peace of Mind

Insurance Journal

A goal without a plan is just a wish. Successful agency owners strategically plan business operations thinking ahead several years. Yet how many owners consider the end game in those plans? Are you building an agency to sell?

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Drought hits the Mississippi

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Drought hits the Mississippi appeared first on Insurance Marine News.

Marine 52
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Young Brokers Share a Few Keys to Success

Insurance Journal

Finding success in the excess and surplus lines sector means building relationships, finding a specialty, putting in the work and getting creative in both hard and soft market cycles, young wholesalers say.

Broker 245
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Risky Business

Insurance Journal

“The world’s not a less risky place.” “We’re clearly in historical hard market conditions for property and casualty.” “I don’t think we’re going to see anywhere near the same level of flow back into the admitted market.

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US P/C Insurance Industry Posts First H1 Underwriting Profit Since 2021

Insurance Journal

The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report.

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Viewpoint: Navigating the CDI’s Notice of Non-Compliance

Insurance Journal

The California Department of Insurance is known for its rigorous oversight, making it the gatekeeper of the insurance industry in California. The CDI regulates all aspects of insurance, acting as judge, jury and executioner when it comes to enforcing compliance.

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Senior Living Facilities Face Labor Shortages, Nuclear Verdicts and Changing Insurance Market

Insurance Journal

By Allen Laman Continuing worker shortages, the threat of nuclear verdicts in some geographical locations, and the implementation of new technology are all shaping the property/casualty insurance market for senior living facilities.

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Strategic Planning

Insurance Journal

I don’t expect most insurance agencies to possess formal, in-depth strategies. Many are too small and focused on the next sale or the next renewal.

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Revolutionize Your Underwriting Process with Underwriter Link: The Ultimate Tool for MGAs and Wholesalers

Insurance Journal

This post is part of a series sponsored by Selectsys. In the fast-paced world of insurance, efficiency, accuracy, and speed are vital to success.

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Main Street America Insurance Exits Personal Lines

Insurance Journal

By Chad Hemenway Main Street America Insurance said it will stop offering personal lines insurance in favor of a commercial lines strategy.

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Boar’s Head Closing Virginia Plant Linked to Deadly Listeria Outbreak

Insurance Journal

Boar’s Head said Friday it’s closing the Virginia plant tied to a deadly listeria outbreak.

Liability 278
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Plumbing Water Damage Claims Revisited

Insurance Journal

Looking back at my Insurance Journal columns over the past 5 years, I found that I wrote at least one column a year about water damage claims.

Damage 227
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A Fresh Take on Commission: Envisioning a System That Supports the Agent, Carrier and Consumer

Insurance Journal

I confess that for a guy who has made his living largely on commissions for decades, I don’t like the concept.

Agents 246
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People & Places

Insurance Journal

National Resilience, headquartered in San Francisco, named Killian Brady chief underwriting officer. He will continue to act in his role as chief operating officer of global insurance operations. Brady has more than 15 years of industry experience.

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Business Moves

Insurance Journal

National Freeway Insurance Freeway Insurance, a division of Confie, expanded with six new franchises in Florida, Georgia, Tennessee and California. In south Florida, James Ospina will head the office in Boynton Beach.

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Declarations

Insurance Journal

Critical 911 Access “We understand the importance of having critical access to 911. We’ve resolved this matter and are committed to keeping our customers connected in times they need it most.

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