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Antares Announces Leadership Team for New Commercial Division
Antares Global Management Ltd. announced three key appointments for its new Commercial Division, which comprises Syndicate 1274 and Bermuda-based Antares Re. Antares announced in November that it was restructuring its underwriting operations by spitting its Bermuda and UK re/insurance businesses …
POSTED DECEMBER 06, 2024 5:30 PM |
Aviva CEO Amanda Blanc Conquers Detractors and Direct Line
Amanda Blanc is determined to steer Aviva Plc to one of the biggest takeovers in its history, a highlight in a storied insurance career where she’s stood up to challenges including activist shareholders and sexist barbs. If her £3.6 billion …
POSTED DECEMBER 06, 2024 4:30 PM |
UK Issues Red Warning as Storm Darragh Brings Hurricane-Strength Winds
Storm Darragh has triggered a red weather warning for the west coast of Wales and the Bristol Channel on Saturday, with hurricane-force winds forecast. Wind speeds are expected to reach as high as 90 miles (145 kilometers) per hour, according …
POSTED DECEMBER 06, 2024 4:09 PM |
After 23 Years as CEO, Craft Moves to Producer Role at Palomar as Williford Takes Helm
Alabama-based Palomar Insurance, a 70-year-old agency with offices across the state and in Mississippi and Georgia, announced that longtime CEO Tony Craft will step down to be a producer in the company. Replacing Craft at the top is Jim Williford, …
POSTED DECEMBER 06, 2024 3:45 PM |
Insured Losses From Natural Disasters Top US$100B for 5th Consecutive Year: Swiss Re
Estimated insured losses from natural catastrophes are on track to surpass US$100 billion in 2024 – for the fifth consecutive year — and are even likely to hit US$135 billion-plus, according to Swiss Re Institute. Natural disasters are driving an …
POSTED DECEMBER 06, 2024 3:41 PM |
Failure to Produce Proof of Purchase Dooms Insurer’s Product Liability Case
A federal court in Pennsylvania recently affirmed that plaintiffs seeking to hold a seller or distributor liable for a faulty product must provide clear evidence of where they purchased their product. In a homeowners insurance subrogation case over water damage …
POSTED DECEMBER 06, 2024 3:39 PM |
Goldman Sachs Quits Global Climate Coalition for Banks
Goldman Sachs said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight climate change, marking the latest high-profile departure of a U.S. financial firm from the group. The U.S. investment …
POSTED DECEMBER 06, 2024 3:36 PM |
Fraud Ringleader in Washington Sentenced, Ordered to Pay $7.1M in Restitution
A Washington man has been sentenced to a dozen years in prison and ordered to pay $7.1 million for leading a fraud scheme that involved staged collisions. A U.S. District Judge sentenced William Oldham Mize to 144 months in federal …
POSTED DECEMBER 06, 2024 3:04 PM |
Missouri to See Reduction in Workers’ Comp Rates in 2025
The Missouri Department of Commerce and Insurance (DCI) announced that employers should see a reduction in workers’ compensation rates in 2025, marking the fourth straight year of decreased rates. The projected rate reduction is based off preliminary figures collected by …
POSTED DECEMBER 06, 2024 3:04 PM |
Texas Tire Distributor Faces $288K Fine After Forklift Operator’s Death
A U.S. Department of Labor investigation revealed that proper workplace safety training and correct storage of pallets taller than 16 feet could have prevented the fatal injuries suffered by a forklift operator at a tire distribution center in Elm Mott, …
POSTED DECEMBER 06, 2024 2:57 PM |
West News Archives - Insurance Journal
Fraud Ringleader in Washington Sentenced, Ordered to Pay $7.1M in Restitution
A Washington man has been sentenced to a dozen years in prison and ordered to pay $7.1 million for leading a fraud scheme that involved staged collisions. A U.S. District Judge sentenced William Oldham Mize to 144 months in federal …
POSTED DECEMBER 06, 2024 3:04 PM |
Raw Milk Recall in California Expands After Tests Detect More Bird Flu Virus
A California farm expanded a recall of raw milk sold in stores and halted production after state health and agriculture officials found bird flu virus in more milk samples. Raw Farm, of Fresno, voluntarily recalled all whole milk and cream …
POSTED DECEMBER 06, 2024 6:00 AM |
Strong Northern California Quake Triggered Brief Tsunami Warning
A magnitude-7.0 earthquake off the coast of Northern California triggered a brief tsunami warning across a swath of the U.S. West Coast. The tsunami threat was declared over less than an hour later even as the area experienced multiple aftershocks. …
POSTED DECEMBER 05, 2024 8:37 PM |
Claim Frequency in California Workers’ Comp Higher in L.A. Area, Study Shows
Claim frequency in California workers’ compensation remains significantly higher in the Los Angeles Basin than in the northern part of the state, a new study shows. The Workers’ Compensation Insurance Rating Bureau of California released its WCIRB Geo Study 2024, …
POSTED DECEMBER 05, 2024 6:00 AM |
Arizona DOI Forms Council to Address Availability and Affordability in Wildland
Arizona Department of Insurance Director Barbara D. Richardson has created a Resiliency and Mitigation Council that plans to examine the availability and affordability of homeowners insurance in forested and wildland-urban interface (WUI) areas of Arizona. Based on the work of …
POSTED DECEMBER 05, 2024 6:00 AM |
Californians Pay Billions for Power Companies’ Wildfire Prevention Efforts. Are They Cost-Effective?
Diane Moss lost her home in the Santa Monica Mountains after power lines ignited the apocalyptic Woolsey Fire in 2018. Since then, she’s pressed for a safer electric grid in California. “It’s so easy to forget the risk that we …
POSTED DECEMBER 05, 2024 6:00 AM |
Alaska Airlines Tech Issue Briefly Grounded Planes in Seattle
A technology issue at Alaska Airlines resulted in the temporary grounding of flights in Seattle on Monday morning and problems into the afternoon for people trying to book flights on its website, the airline said. The Seattle-based company said in …
POSTED DECEMBER 04, 2024 2:56 PM |
California Teen Suspected of Being a Member of Scattered Spider Hacking Gang
An accused teenage hacker who was arrested last month in California is suspected of being a member of the notorious cybercrime group Scattered Spider, according to several people familiar with the matter. U.S. prosecutors charged Remington Ogletree on Oct. 30 …
POSTED DECEMBER 04, 2024 6:00 AM |
California Eyes $25 Million Legal Fight Against Trump Plans
California Gov. Gavin Newsom wants to allocate as much as $25 million to challenge President-elect Donald Trump’s most aggressive policies with a battalion of lawyers. On Monday the state legislature, led by a Democratic supermajority, will convene a special session …
POSTED DECEMBER 03, 2024 6:00 AM |
People Moves: Symphony Risk Names Tobin Director of Dedicated Cannabis Business, Symphony Grow
Symphony Risk Solutions named Corey Tobin director of Symphony Grow, its specialty business focused on the cannabis industry. Tobin has more than 15 years of experience in the cannabis and insurance industries. He most recently served as senior vice president …
POSTED DECEMBER 03, 2024 6:00 AM |
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