Industry News
Three new property/casualty insurance companies have been approved to do business in Arkansas, the state insurance department reported. All three are based in Florida. Counting the recently accepted companies, 10 new insurers have been approved to enter the Arkansas insurance …
Via: Claims Journal
During 2017, the private flood insurance market expanded considerably with 50 new carriers. In total, insurers reported direct private flood insurance premiums written of $630 million, an increase of $217 million over 2016. That’s according to Insurance Journal’s Top Private …
Via: Claims Journal
Reckless driving is, well, reckless. But Americans keep speeding, willing to risk the financial consequences, which vary wildly from state to state. So where is it costliest to floor it? Delaware and Colorado are the toughest states on speeding and …
Via: Claims Journal
The U.S. government’s ability to police hobbyist drone use was upheld by an appellate court Friday in a ruling that helps set the stage for a series of new restrictions and requirements aviation regulators hope to enact soon. The U.S. …
Via: Claims Journal
Texas officials are struggling to enforce part of a flood insurance program that aims to elevate or remove severely damaged properties from flood plains, according to a newspaper investigation. The Houston Chronicle analyzed more than 36,000 insurance claims of properties …
Via: Claims Journal
Cost savings in two Florida funds paid into by workers’ compensation carriers are expected to equal a nearly $20 million reduction in expenses for insurers operating in the state next year, according to a statement from the Florida Department of …
Via: Claims Journal
California lawmakers may change the standard for determining whether utilities are liable for wildfire damage following the worst wildfire season in state history. Gov. Jerry Brown and legislative leaders said on July 2 that they are forming a special committee …
Via: Claims Journal
A California agency for occupational safety said on Thursday it opened a third investigation at Tesla Inc.’s factory in Fremont, California, following a complaint. The state’s Occupational Safety and Health Administration (Cal-OSHA) said it opened the latest case on June …
Via: Claims Journal
A.M. Best has downgraded its financial strength and credit ratings for insurer members of the AmTrust Group, not long after AmTrust Financial Services Inc. (AFSI) shareholders approved a $2.95 billion deal that will make it a private entity. The insurer’s …
Via: Claims Journal
A U.S. judge on Thursday overturned a $140.1 million verdict against AbbVie Inc. in a lawsuit by a man who claimed the company misrepresented the risks of its testosterone replacement drug AndroGel, causing him to suffer a heart attack. U.S. …
Via: Claims Journal