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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 |
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 |
AM Best: Unfavorable Operating Performance Key Driver of Downgrades
Deteriorating market conditions and rising loss costs led to a 60 percent increase in rating downgrades of AM Best-rated U.S.-based insurers in 2023 compared with two years earlier, according to a newly issued report. The latest Best’s Special Report indicates …
POSTED SEPTEMBER 11, 2024 3:05 PM |
Study Suggests US Droughts, Rainy Extremes Becoming More Severe
Newswise — Severe drought in the American Southwest and Mexico and more severe wet years in the Northeast are the modern norm in North America, according to new research – and the analysis suggests these seasonal patterns will be more …
POSTED SEPTEMBER 11, 2024 3:03 PM |
Delta Jets Collide on the Ground at Atlanta Airport, Causing Minor Damage
Two Delta Air Lines jets collided on the ground at Atlanta’s Hartsfield-Jackson International Airport Tuesday, knocking the tail off of the smaller regional plane. Multiple news sources reported that no one was injured and passengers were booked onto other flights …
POSTED SEPTEMBER 11, 2024 2:53 PM |
Hurricane Debby Florida Losses Top $121M; 60% of Claims Closed
A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of Insurance Regulation reported this week. The …
POSTED SEPTEMBER 11, 2024 2:31 PM |
Norfolk Southern Says CEO Under Investigation for Alleged Ethical Lapses
Norfolk Southern’s CEO Alan Shaw is under investigation for potential ethical lapses, the railroad confirmed Monday. A spokeswoman for the Atlanta-based railroad that is one of North America’s six largest declined to offer any additional details about the nature of …
POSTED SEPTEMBER 11, 2024 2:18 PM |
Union Reports Cyber Incident May Have Exposed Members’ Private Information
A Ridgefield Park, New Jersey-based labor union for longshoremen, healthcare, maintenance and other workers has reported a cyber incident that may have exposed some members’ private information. The office for Local 1964, International Longshoremen’s Association, Local 1964 ILA Health & …
POSTED SEPTEMBER 11, 2024 1:51 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 |
Payment Gateway Slim ID Notifies 1.7M Cardholders of Hack
Electronic-payment gateway Slim CD has notified customers that its systems were hacked starting more than a year ago, potentially exposing the names, addresses, and credit card information of nearly 1.7 million individuals. The Coral Springs, Florida-based company that handles credit …
POSTED SEPTEMBER 11, 2024 1:27 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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