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News Archives - Insurance Journal
Global Warming Can’t Be Ignored, Montana’s Top Court Says, Upholding Landmark Climate Case
Montana’s Supreme Court upheld a landmark climate ruling that said the state was violating residents’ constitutional right to a clean environment by permitting oil, gas and coal projects without regard for global warming. The justices, in a 6-1 ruling, rejected …
POSTED DECEMBER 20, 2024 6:14 PM |
Chicago Restaurant Owners to Pay $125K in Overtime Back Wages
The U.S. Department of Labor obtained a consent judgment and order in the U.S. District Court for the Northern District of Illinois on Dec. 2, 2024, that requires D’Nuez Corp. and owners Antonio Rendon and Albino Rendon – operators of …
POSTED DECEMBER 20, 2024 5:47 PM |
Swiss Re’s Business Unit CEOs Share Views on Key Risk Themes of 2025
Social inflation will continue to be a top concern for insurers and reinsurers in 2025 with US liability claims increasing by 57% during the past decade and nuclear verdicts rising in frequency, said Swiss Re, pointing to jury awards above …
POSTED DECEMBER 20, 2024 4:41 PM |
Tesla Recalls Nearly 700,000 Vehicles in Over Tire Pressure Monitoring Issue
Tesla said on Friday it was recalling 694,304 vehicles in the United States over an issue with the tire pressure monitoring system (TPMS). The TPMS warning light may not remain illuminated between drive cycles, failing to warn the driver of …
POSTED DECEMBER 20, 2024 3:53 PM |
Liberty Mutual Weighs Sale of Thailand, Vietnam Assets
Liberty Mutual Holding Co. is considering a sale of its businesses in Thailand and Vietnam as the US insurer seeks to streamline its operations, according to people familiar with the matter. Liberty Mutual is working with a financial adviser on …
POSTED DECEMBER 20, 2024 3:41 PM |
Safeco to Stop Writing New Condo and Renter Policies in California
It appears another insurance carrier is turning sour on wildfire-prone California. Safeco, a Liberty subsidiary, is preparing to stop writing new condo and rental policies in California at the beginning of next year. Liberty stopped writing new condo or rental …
POSTED DECEMBER 20, 2024 3:39 PM |
Cleveland Clinic Plans New Hospital, Larger Outpatient Center in South Florida
The Cleveland Clinic, a health care system with hospitals and clinics around the world, said it plans to build a 150-bed hospital in the Palm Beach area and will quadruple the size of an outpatient clinic there. Cleveland has operated …
POSTED DECEMBER 20, 2024 3:17 PM |
Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption
Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec. 23 …
POSTED DECEMBER 20, 2024 2:42 PM |
Palm Beach Revolt Forces Sylvester Stallone to Abandon Mansion Sea Barrier
In his movies, Sylvester Stallone has taken on drug cartels, Soviet troops and boxer Apollo Creed. But in real life, he had to beat a retreat against the Palm Beach Town Council. The movie star appeared Thursday before the council …
POSTED DECEMBER 20, 2024 2:27 PM |
Self-Proclaimed Bitcoin Inventor Found in Contempt of Court After Lawsuit Loss
A computer scientist who falsely claims to be the inventor of Bitcoin was handed a suspended prison termafter being found in contemptof court by a London judge after a stinging lawsuit loss. The Cryptocurrency Open Patent Alliance, a nonprofit cryptocurrency …
POSTED DECEMBER 20, 2024 2:17 PM |
West News Archives - Insurance Journal
Global Warming Can’t Be Ignored, Montana’s Top Court Says, Upholding Landmark Climate Case
Montana’s Supreme Court upheld a landmark climate ruling that said the state was violating residents’ constitutional right to a clean environment by permitting oil, gas and coal projects without regard for global warming. The justices, in a 6-1 ruling, rejected …
POSTED DECEMBER 20, 2024 6:14 PM |
Safeco to Stop Writing New Condo and Renter Policies in California
It appears another insurance carrier is turning sour on wildfire-prone California. Safeco, a Liberty subsidiary, is preparing to stop writing new condo and rental policies in California at the beginning of next year. Liberty stopped writing new condo or rental …
POSTED DECEMBER 20, 2024 3:39 PM |
Hub International Acquires Otter Insurance Agency in Washington
Hub International Ltd. acquired the assets of Otter Insurance Agency Inc. in Lynnwood, Washington. Patrick Otter, president, and the Otter Insurance Agency team will join HUB Northwest. Otter Insurance Agency will be referred to as Otter Insurance Agency, a Hub …
POSTED DECEMBER 20, 2024 6:00 AM |
Doctor to Plead Guilty to Bilking $3M from California’s Workers’ Comp Trust Fund
A physician who worked for an Inland Empire medical company has agreed to plead guilty to conspiring to defraud California’s workers’ compensation trust fund by continuing to work on workers’ comp matters after being suspended due to a prior healthcare …
POSTED DECEMBER 20, 2024 6:00 AM |
California Man Sentenced to 16 Years for Auto Insurance Fraud
A California man was sentenced to 16 years in prison for filing false claims on dozens of auto collisions. Jacob McNabb, 33, of Bakersfield, was sentenced following a jury’s guilty verdict on four felony counts including insurance fraud after a …
POSTED DECEMBER 20, 2024 6:00 AM |
Jury Finds Vegas Police Fabricated Evidence in Killing, Awards $34M to Exonerated Woman
A federal jury in Nevada has awarded more than $34 million to a woman who was arrested at age 18, wrongly convicted twice, and served nearly 16 years in a Nevada state prison for a 2001 killing she did not …
POSTED DECEMBER 19, 2024 6:00 AM |
EPA Approves California’s Plan to Ban Sale of Gas-Only Cars in 2035
The U.S. Environmental Protection Agency said on Wednesday it has approved California’s landmark plan to end the sale of gasoline-only vehicles by 2035. The decision in the final weeks of President Joe Biden’s administration sets up a fight over the …
POSTED DECEMBER 19, 2024 6:00 AM |
Washington Commissioner Fines PacificSource, Delta Dental, Lemonade, Others
Washington Insurance Commissioner Mike Kreidler issued fines totaling $576,500 against insurance companies, agents, brokers and unlicensed entities in October and November of 2024 for violations of state insurance laws and regulations. The fines included $100,000 levied against PacificSource Health Plans …
POSTED DECEMBER 19, 2024 6:00 AM |
Hub Acquires High Net Worth Specialist Jackson Hole Insurance
Hub International Ltd. acquired the assets of Jackson Hole Insurance LLC in Wyoming. Evan Molyneaux, president, and Geoff Whitaker, senior sales executive, will join Hub Mountain. Jackson Hole Insurance will be referred to as Jackson Hole Insurance, a Hub International …
POSTED DECEMBER 18, 2024 6:00 AM |
Cal/OSHA Issues $276K Citation for Serious Heat Violations
The California Division of Occupational Safety and Health issued $276,425 in penalties to Parkwood Landscape Maintenance based in Van Nuys, California, for willfully violating state heat illness prevention regulations. Cal/OSHA determined that the employer knowingly failed to follow heat protection …
POSTED DECEMBER 18, 2024 6:00 AM |
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