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News Archives - Insurance Journal
TSLA Unveils New Website and Management System
Kimmi Cantwell, President of the Texas Surplus Lines Association, Inc., announced that TSLA unveiled its new website and management system. This upgrade simplifies event registration, member updates, and membership applications. Key features include an enhanced membership directory, streamlined event management, …
POSTED SEPTEMBER 11, 2024 4:56 PM |
LDI Urges Residents to Check for ALE Coverage Ahead of Hurricane Francine
The Louisiana Department of Insurance issued guidance for residents who have a homeowners policy with Additional Living Expenses (ALE) coverage ahead of Hurricane Francine. ALE coverage pays for additional living expenses like hotel stays and food while a policyholder’s home …
POSTED SEPTEMBER 11, 2024 4:52 PM |
Hurricane Francine Bears Down on Louisiana With Dangerous Winds
Hurricane Francine is closing in on Louisiana with high winds and dangerous storm surge, picking up speed as it nears the coast. Francine is a Category 1 hurricane with top winds holding steady at 90 miles (145 kilometers) per hour, …
POSTED SEPTEMBER 11, 2024 4:44 PM |
US Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023: Report
Nuclear verdicts in the United States are breaking records with 27 court cases each awarding compensation of more than US$100 million during 2023, according to Swiss Re executives. Social inflation in US rose to 7% in 2023 – a 20 …
POSTED SEPTEMBER 11, 2024 4:37 PM |
Two Workers Die in Accident at South Dakota Farm Silo
VOLGA, S.D. (AP) — Two people have died in an accident at a farm silo in South Dakota. The Brookings County Sheriff’s Office said in a Facebook post that the accident happened just before noon Saturday on a farm near …
POSTED SEPTEMBER 11, 2024 4:25 PM |
Few Households Opt Out of $600M Ohio Train Derailment Settlement
Very few people who live near the East Palestine, Ohio, train derailment opted out of a $600 million class action settlement despite residents’ reservations about whether the deal offers enough, so lawyers argue the agreement should be approved later this …
POSTED SEPTEMBER 11, 2024 4:23 PM |
Chicago Man Awarded $50M in Damages After Wrongful Murder Conviction
CHICAGO (AP) — A federal jury has awarded $50 million in damages to a suburban Chicago man who was exonerated in a murder and released from prison in 2018 after spending about 10 years behind bars. Monday’s unanimous jury verdict …
POSTED SEPTEMBER 11, 2024 4:18 PM |
Mississippi Commissioner Warns of Francine’s Impact on State
Mississippi’s insurance commissioner is reminding policyholders that once Hurricane Francine moves across Louisiana, it will likely bring strong winds and heavy rains to the western part of the Magnolia State. And residents should be prepared by reading their insurance policies, …
POSTED SEPTEMBER 11, 2024 4:08 PM |
New Southern California Wildfire Threatens Mountain Communities
A quick-moving wildfire raced toward Southern California mountain communities as authorities warned residents to evacuate. The Bridge fire exploded on Tuesday, burning into the Wrightwood community and nearby Mountain High ski resort. The fire has burned 47,288 acres and is …
POSTED SEPTEMBER 11, 2024 3:26 PM |
Russia Loses EU Case Aimed at Unblocking Sanctioned €70 Billion
Russia’s National Settlement Depository lost a bid to overturn European Union sanctions over its alleged role in helping fund President Vladimir Putin’s invasion of Ukraine. The Moscow-based institution was hit by EU sanctions in 2022 when the bloc alleged that …
POSTED SEPTEMBER 11, 2024 3:25 PM |
West News Archives - Insurance Journal
New Southern California Wildfire Threatens Mountain Communities
A quick-moving wildfire raced toward Southern California mountain communities as authorities warned residents to evacuate. The Bridge fire exploded on Tuesday, burning into the Wrightwood community and nearby Mountain High ski resort. The fire has burned 47,288 acres and is …
POSTED SEPTEMBER 11, 2024 3:26 PM |
Wife of California Inmate Wins $5.6 Million in Settlement for Strip Search
The wife of a California inmate will receive $5.6 million after being sexually violated during a strip search when she tried to visit her husband in prison, her attorneys said. After traveling four hours to see her husband at a …
POSTED SEPTEMBER 11, 2024 1:46 PM |
AM Best Places Credit Ratings of Oregon Mutual Group Members Under Review
AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Oregon Mutual Insurance Co. and Western Protectors Insurance Co., which are domiciled in McMinnville, …
POSTED SEPTEMBER 11, 2024 5:00 AM |
SAIF in Oregon Declares $60M Dividend for Workers’ Comp Policyholders
The board of SAIF, a not-for-profit workers’ compensation insurer in Oregon, declared a $60 million dividend for their current policyholders. The funds will start being dispersed starting in October, with 51,288 policyholders receiving the dividend, which as determined based on …
POSTED SEPTEMBER 11, 2024 5:00 AM |
Another Fast-Growing Southern California Wildfire Forces Evacuations
A Southern California wildfire that broke out in Orange County’s Trabuco Canyon Monday has exploded to more than 8,500 acres overnight. By Tuesday morning, the Airport Fire had forced the evacuation of some homes in the area. CalFire reported there …
POSTED SEPTEMBER 10, 2024 1:53 PM |
Toxic Debris from Hawaii Wildfire Could Fill 5 Football Fields 5 Stories Deep
Hinano Rodrigues remembers being 4 or 5 years old, carrying a bucket across a highway to the ocean in the Maui community where he still lives. At dawn, he would accompany his grandmother to a reef at low tide, where …
POSTED SEPTEMBER 10, 2024 5:00 AM |
Wynn Resorts Paying $130M for Letting Illegal Money Reach Gamblers at Vegas Casino
Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property. The publicly traded …
POSTED SEPTEMBER 10, 2024 5:00 AM |
California Policyholders May Be On the Hook for Wildfire Losses
California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire. The California Department of Insurance sent a bulletin to insurance companies this week outlining how …
POSTED SEPTEMBER 09, 2024 2:19 PM |
Fast-Growing California Wildfire Threatening 35,000 Structures
A fast-growing wildfire in Southern California, has burned 27 square miles, forcing thousands to evacuate had is putting roughly 35,000 homes and buildings at risk. The Line fire near San Bernardino more than quadrupled in size over the weekend, prompting …
POSTED SEPTEMBER 09, 2024 2:06 PM |
More Extreme Heat Plus More People Equals Danger in These California Cities
On a recent sunny afternoon in Lancaster, Cassandra Hughes looked for a place to cool down. She set up a lawn chair in the shade at the edge of a park and spent the afternoon with a coloring book, listening …
POSTED SEPTEMBER 09, 2024 5:00 AM |
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