Today’s Insurance News
Source: Insurance Journal
Source: Insurance Journal
- People Moves: Valley Insurance Agency Alliance Promotes RuckerValley Insurance Agency Alliance Promotes Rucker Valley Insurance Agency Alliance (VIAA), a family of more than 160 independent insurance agencies in Missouri and Illinois, recently promoted Kaylee Rucker to communication coordinator. Rucker will handle internal and external communication for alliance … Read more »
- North Dakota Contractor Fined $505K After Failing 3 InspectionsTwice in 2022, the owner of a Mandan, North Dakota excavation company sat behind the controls of an excavator, supervising employees below as they installed municipal water lines in trenches as deep as 10 feet without protection against deadly collapses, … Read more »
- Arkansas Lawmakers Revamp Bathroom Bill Condemned as Too ExtremeLITTLE ROCK, Ark. (AP) – An Arkansas bathroom bill that went further than a 2016 North Carolina law that was repealed after widespread boycotts was revamped Tuesday following complaints from members of the transgender community and their families that it … Read more »
- Michigan Becomes First State in Decades to Repeal ‘Right-to-Work’ LawMichigan, long known as a mainstay of organized labor, on Friday became the first state in decades to repeal a union-restricting law known as “right-to-work” that was passed over a decade ago by a Republican-controlled Legislature. The state’s “right-to-work” law … Read more »
- $264M Offered for Gulf Oil Under Climate Compromise
Oil companies offered a combined $264 million for drilling rights in the Gulf of Mexico on Wednesday in a sale mandated by last year’s climate bill compromise. The auction was the first in the Gulf in more than a year … Read more » - People Moves: Everest Insurance Names Kendrick as Non-Exec Chair of European Board of Directors; OONA Insurance Appoints Marsh’s Zandueta as President, CEO
This edition of International People Moves details appointments at Everest Insurance and OONA Insurance (formerly Mapfre Insurance). A summary of these new hires follows here. Everest Insurance Names Chubb’s Kendrick Chairman of European Board of Directors Everest Insurance, the insurance … Read more » - How a Labor Supplier and Insurance Broker Scammed to Evade Workers’ Compensation
An unlicensed labor broker for the construction industry has pleaded guilty plea to participating in a fraud scheme in order to evade more than $1 million in workers’ compensation premiums. According to Manhattan prosecutors, Salvador Almonte, Jr. underreported the size … Read more » - Near $27B Underwriting Loss in 2022 Largest for U.S. P/C Insurers Since 2011
Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property Casualty Insurance Association (APCIA). The industry recorded a net underwriting loss … Read more » - Lloyd’s Lab Selects 13 Insurtechs for Its Next Innovation Accelerator
The Lloyd’s marketplace announced it has invited 13 insurtechs to join the next cohort of its innovation accelerator, the Lloyd’s Lab, following a competitive pitch process where the firms presented innovative insurance solutions for the market. Lloyd’s Lab received more … Read more » - California Commissioner and FAIR Plan Agree to up Commercial Coverage to $20M
California Insurance Commissioner Ricardo Lara and the California FAIR Plan Association agreed to more than double its existing commercial coverage limits to $20 million for businesses unable to find coverage in the normal insurance marketplace. Lara and the FAIR Plan … Read more »
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