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News Archives - Insurance Journal
California Commissioner Announces FAIR Plan Modernization Deal California Insurance Commissioner Ricardo Lara said on Friday that he and the California Fair Plan have agreed to establishing a new high value commercial coverage option with limits up to $20 million per building and other steps that he said …
POSTED JULY 26, 2024 6:32 PM |
Business Moves: NFP, Clear Group, and Strategic Risk Group Complete 4 Acquisitions Three brokers – NFP, Clear Group, and Strategic Risk Group – each announced acquisitions during July. In reverse chronological order, the acquisitions are listed as follows: NFP, the New York-based insurance broker and Aon subsidiary, announced on July 24 that …
POSTED JULY 26, 2024 4:27 PM |
Paris Trains Hit By Sabotage Hours Before Olympics Kick Off Trains to and from Paris, including the international Eurostar service, were hit by what authorities called a “massive attack aimed at paralyzing the network” of France’s super-fast trains just hours ahead of the inauguration ceremony of the 2024 Olympic Games. …
POSTED JULY 26, 2024 3:00 PM |
J&J Loses Latest Legal Bid to Revive Talc Bankruptcy Strategy Johnson & Johnson lost its bid in a federal appeals court to revive a plan to settle tens of thousands of talc cancer lawsuits by placing a subsidiary into bankruptcy. The ruling Thursday upheld a bankruptcy judge’s dismissal last year …
POSTED JULY 26, 2024 2:55 PM |
ALKEME Acquires Georgia’s Morris & Templeton Agency ALKEME, a national insurance broker, has acquired Morris & Templeton in Savannah, Georgia, expanding ALKEME’s footprint in the Southeast. Morris & Templeton was founded in 1981, offering commercial and personal insurance coverage, including high-end homeowners products. It has offices in …
POSTED JULY 26, 2024 2:52 PM |
Woman Dies in West Virginia’s Second Coal Mine Fatality This Year CHARLESTON, W.Va. (AP) — A West Virginia woman died Wednesday more than a week after an accident at a southern West Virginia coal mine, Gov. Jim Justice said. Ashley Cogar, 33, of Erbacon, was injured at the Wyco Surface Mine, …
POSTED JULY 26, 2024 2:35 PM |
MGU Private Client Select Teams With Ryan Specialty on High Net Worth Private Client Select Insurance Services (PCS) said it has entered into an agreement with Ryan Specialty on a distribution partnership. The independent managing general underwriter started by American Internal Group (AIG) and Stone Point Capital will use Ryan Specialty as …
POSTED JULY 26, 2024 2:09 PM |
Aon Reports 6% Drop in Q2 Net Income, Organic Revenues Grow 6% Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million reported in Q2 2023. Adjusted net income attributable to Aon shareholders increased 9% during Q2 2024 to $624 million, compared …
POSTED JULY 26, 2024 1:58 PM |
California Wildfire Continues to Spread Rapidly to 164K Acres A massive wildfire in Northern California has destroyed an undetermined number of buildings and is threatening thousands or properties, prompting thousands of evacuations orders, as it continued to rage on Friday morning. The Park fire, which became the state’s largest …
POSTED JULY 26, 2024 1:37 PM |
Rushed Railcar Inspections and ‘Stagnated’ Safety Record Reinforce Concerns Major freight railroads are rushing railcar inspections, reinforcing known safety concerns raised by unions for years, but at a House hearing Tuesday they’ll present new evidence from federal inspectors that railcar checks are routinely less than two minutes per car. …
POSTED JULY 26, 2024 12:44 PM |
West News Archives - Insurance Journal
California Commissioner Announces FAIR Plan Modernization Deal California Insurance Commissioner Ricardo Lara said on Friday that he and the California Fair Plan have agreed to establishing a new high value commercial coverage option with limits up to $20 million per building and other steps that he said …
POSTED JULY 26, 2024 6:32 PM |
California Wildfire Continues to Spread Rapidly to 164K Acres A massive wildfire in Northern California has destroyed an undetermined number of buildings and is threatening thousands or properties, prompting thousands of evacuations orders, as it continued to rage on Friday morning. The Park fire, which became the state’s largest …
POSTED JULY 26, 2024 1:37 PM |
California Indoor Worker Heat Protections OK’d and in Effect California’s indoor heat protections were approved and went into effect this week. The rules apply to most indoor workplaces. Employers are required to adopt safety measures that go into effect in most cases when indoor temperatures reach 82°F to prevent …
POSTED JULY 26, 2024 5:00 AM |
Uber, Lyft, DoorDash Prevail in California Gig-Worker Ruling Uber Technologies Inc. and Lyft Inc. can keep classifying California drivers as independent contractors, after the state’s top court said a company-backed law passed by voters doesn’t wrongly curtail the legislature’s power over worker protections. The unanimous ruling upholding California’s …
POSTED JULY 25, 2024 6:59 PM |
New Mexico Woman Pleads Guilty to Armed Robbery of Gallup Insurance Agency A New Mexico woman pleaded guilty in federal court for an armed robbery of a Gallup insurance agency. Amber Yazzie, 29, of Gamerco, pleaded guilty to robbery and federal firearms charges for her role in the armed robbery of C …
POSTED JULY 25, 2024 5:25 PM |
Northern California Fire Becomes State’s Biggest in a Day, Evacuations Ordered A wildfire that started Wednesday near Chico, California grew quickly to 45,549 acres overnight to become the state’s largest active blaze. Evacuation orders and warnings were issued, but the number of residents affected or properties damaged or destroyed has yet …
POSTED JULY 25, 2024 2:00 PM |
California Homeowners Sue FAIR Plan Over Smoke Damage Coverage A class action lawsuit is being brought on behalf of more than 350,000 policyholders against the California FAIR Plan over smoke damage coverage. Dylan Schaffer, an attorney representing the plaintiffs, told SiliconValley.com the idea behind the suit is to force …
POSTED JULY 25, 2024 5:00 AM |
New Mexico Superintendent of Insurance Takes Issue with Ruling on Living Expenses A Santa Fe District Court ruling that State Farm and Casualty Co. does not have to comply with a provision of the New Mexico Superintendent of Insurance emergency order for insurers to pay $5,000 in living expenses to policyholders forced …
POSTED JULY 25, 2024 5:00 AM |
Jewelers Mutual Acquiring Union Life & Casualty Insurance Agency in Arizona Jewelers Mutual Group acquired Union Life & Casualty Insurance Agency in Phoenix, Arizona. JM Insurance Agency Partners Inc., a Jewelers Mutual Group company, will join with UL&C. UL&C has been in the insurance business since 1965, specializing in pawn and …
POSTED JULY 24, 2024 2:28 PM |
Hot, Inland California Cities Face The Steepest Water Cuts With New Conservation Mandate Facing a future of shortages, California is entering a new phase of water conservation: Cities and towns must meet new mandates ramping down use over the next 15 years — and some will be hit harder than others. Approved two …
POSTED JULY 24, 2024 5:00 AM |
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