Sun.Dec 01, 2024

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Zoom Offers $18 Million to Settle SEC Privacy Probe From 2020

Insurance Journal

Zoom Communications Inc. has offered $18 million to settle a four-year-old US Securities and Exchange Commission probe related to its privacy policies and communications.

Policy 311
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State Farm Wins Worn-Out Plumbing Case: Ensuing Water Damage Not Covered Under State Farm’s Language

Property Insurance Coverage Law

Maybe State Farm should advertise to its customers that it will fight them tooth and nail anytime their property gets older, wears out, and results directly or indirectly with loss. This post gives State Farm a three-day winning hat trick following State Farm Wins Alabama Worn Out Roof Damage Case: Lesson About Hail Damage Cases, … The post State Farm Wins Worn-Out Plumbing Case: Ensuing Water Damage Not Covered Under State Farm’s Language appeared first on Property Insurance Coverage Law

Damage 203
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Alleged Snowflake Hacker ‘Danger’ to the Public

Insurance Journal

The man accused of carrying out cyberattacks against dozens of Snowflake Inc. customers will face an extradition hearing later this year, after Canadian officials accused him of cybercrimes and being “a risk of danger to the public, police and himself.

Risk 285
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Rising climate risks and the evolving role of marine insurance

Splash: Finance and Insurance

Robert Mackay from FDR Risk writes for Splash today. Extreme weather events triggered by climate change are becoming more frequent and severe, reshaping operational risk and creating unprecedented challenges for shipowners and operators.

Risk 74
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Best Agency to Work For – Southeast Silver Winner: Energy Insurance

Insurance Journal

The president of Energy Insurance Agency, an operation with a large presence in Kentucky, said it is “incredibly humbling” for the agency to again be named one of Insurance Journal’s Best Agencies to Work For in the Southeast.

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Missing British citizens from Sea Story are named

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Missing British citizens from Sea Story are named appeared first on Insurance Marine News.

Marine 52

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Drought hit Panama Canal traffic by approaching 30%

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Drought hit Panama Canal traffic by approaching 30% appeared first on Insurance Marine News.

Marine 52
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Microsoft Faces Wide-Ranging Antitrust Probe

Insurance Journal

The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday.

License 261
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Red Sea oil leak from coastal freighter has been stemmed

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Red Sea oil leak from coastal freighter has been stemmed appeared first on Insurance Marine News.

Marine 52
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New England Grocers Coping With Cyber Attack

Insurance Journal

The Dutch company that owns Stop & Shop and Hannaford grocery stores across New England is dealing with a cyberattack that has disrupted online shopping, product deliveries and pharmacy services at some locations.

Cyber 259
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Crew error looks to be major cause of Manawanui grounding, initial report claims

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Crew error looks to be major cause of Manawanui grounding, initial report claims appeared first on Insurance Marine News.

Claim 52
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Washington Workers’ Comp Premium Going up in 2025

Insurance Journal

The average cost of workers’ compensation insurance in Washington will go up about 3.8% in 2025, the Washington State Department of Labor & Industries announced.

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Panama cancels six ship registrations after UK sanctions announcement

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Panama cancels six ship registrations after UK sanctions announcement appeared first on Insurance Marine News.

Marine 52
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Verisk: A Shift to More EVs on The Road Could Have Far-Reaching Impacts

Insurance Journal

By Allen Laman What emerging risks could electric vehicles present as they become more widespread? Experts at Verisk recently explored the current EV landscape and hypothesized what insurance concerns the vehicles could prompt in the future.

Risk 246
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NorthStandard expands strategic partnership with NNPC

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post NorthStandard expands strategic partnership with NNPC appeared first on Insurance Marine News.

Marine 52
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5 Ways to Prepare for the End of the Hard Market

Insurance Journal

For a long time, the hard market has made it difficult for agents to offer their clients the coverage they want at affordable prices — assuming coverage was available at all. Now, there are signs that this is changing.

Agents 246
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NorthStandard publishes Coastal and Inland 2025 Renewal details

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post NorthStandard publishes Coastal and Inland 2025 Renewal details appeared first on Insurance Marine News.

Marine 52
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Missouri Farmer Who Stars in TV Series Admits to Crop Insurance Fraud

Insurance Journal

A Missouri farmer who appears in a reality TV show about his family’s farming operation pleaded guilty this week to a multi-million dollar fraud scheme involving federal crop insurance benefits. Steve A.

Insurer 246
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Chinese govt says it is in talks with Sweden over the Yi Peng 3

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Chinese govt says it is in talks with Sweden over the Yi Peng 3 appeared first on Insurance Marine News.

Marine 52
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Industry Trends to Exploit for 2025 – Part One

Insurance Journal

Agency owners must observe and learn about significant new trends in the insurance industry. The following are three critical industry trends insurance agencies should track for 2025. Look for Part Two in January’s column.

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Shadow fleet tankers continue their work

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Shadow fleet tankers continue their work appeared first on Insurance Marine News.

Marine 52
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Safeco to Take Personal Lines Renewal Business of Main Street America

Insurance Journal

By Chad Hemenway Liberty Mutual’s Safeco Insurance has agreed to take the personal lines business of Main Street America, marking the second time in two months that Safeco has stepped in to assume a personal lines book of business from …

Insurance 236
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Cargo ship catches fire off Sweden

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Cargo ship catches fire off Sweden appeared first on Insurance Marine News.

Marine 52
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Smithfield to Pay $2M in Minnesota Child Labor Violation Settlement

Insurance Journal

By Steve Karnowski Smithfield Foods, one of the nation’s largest meat processors, has agreed to pay $2 million to resolve allegations of child labor violations at a plant in Minnesota, officials announced.

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Minnesota County to Pay $3.4M to Settle Suit Over Detainee’s Death

Insurance Journal

Minnesota’s most populous county will pay $3.4 million to settle a lawsuit that alleged jail workers ignored the pleas of a 41-year-old man who died of a perforated bowel after spending days begging to be taken to a hospital.

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US Product Recalls on Pace to Hit 6-Year High: Report

Insurance Journal

If the pace of product recalls continues in the fourth quarter, the number will reach a six-year high by the end of the year, a new report from Sedgwick shows.

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New Hampshire High Court Invalidates Geico Underinsured Claim Provision

Insurance Journal

By Andrew Simpson A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the right of insureds to obtain the same benefits they …

Claim 230
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People & Places

Insurance Journal

National Marsh, a business of Marsh McLennan headquartered in New York City, named Will Thomas-Ferrand head of captive insurance beginning Jan. 1, 2025. Thomas-Ferrand currently serves as the international practice leader of Marsh Captive Solutions.

Insurance 225
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Flood Adaptation Preferable to Post-Disaster Rebuilding – And It Helps With Insurability

Insurance Journal

By L.S. Howard Economic losses caused by natural catastrophes reached an estimated US$280 billion in 2023, with US$51.6 billion of that total due to floods, according to Swiss Re Institute.

Insured 225
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US High Court Declines Appeal, Upholds Coverage Ruling on Treated Wood

Insurance Journal

By William Rabb Insurance carriers may want to examine policy language — and what information they request from insureds — after the U.S.

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Federal Judge Strikes Down Biden Overtime Pay Rule

Insurance Journal

By Daniel Wiessner A federal judge in Texas permanently blocked a Biden administration rule that would have made about 4 million more salaried U.S. workers eligible for overtime pay. U.S. District Judge Sean Jordan in Sherman, Texas, said the U.S.

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Selectsys Max: The Future of Web-Based Insurance Management for MGAs and Wholesalers

Insurance Journal

This post is part of a series sponsored by Selectsys. Introducing Selectsys Max In the fast-paced world of insurance, MGAs and wholesalers need a management solution that is secure, highly customizable, and designed to accelerate every aspect of the workflow.

Insurer 200
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NYC Man Charged With Insurance Fraud in Staged Car Crash Captured by Dashcam

Insurance Journal

By Karen Matthews A New York City man has been charged with staging a car accident for insurance fraud purposes in a case that received wide publicity after the victim shared dashboard camera footage of the crash, authorities announced.

Insurer 195
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Insurance and Shrinkflation: Caveat Emptor!

Insurance Journal

Everyone is familiar with the significant price increases of many products and services in recent years.

Insured 245