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News Archives - Insurance Journal
Zurich Insurance Group Sets New Targets After Meeting Existing Ones a Year Early
Zurich Insurance Group AG set new targets for profitability and profit growth for the next three years, after a better-than-expected market environment put it on track to exceed its existing guidance a year ahead of plan. The insurer pledged to …
POSTED NOVEMBER 21, 2024 8:19 AM |
General Mills to Engage Regulators on Food Dyes Targeted by RFK Jr.
General Mills Inc. is planning to engage federal officials over potential restrictions on food dyes that it uses in some of its cereals, as Robert F. Kennedy Jr., the nominee to run the Department of Health and Human Services, calls …
POSTED NOVEMBER 21, 2024 6:16 AM |
Allianz Offers 5 Loss Trends to Watch on the Liability Front
As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical to watch include pharma class actions, the …
POSTED NOVEMBER 21, 2024 6:08 AM |
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 38% YTD
The 22 acquirers that make up the Sica Fletcher Index were involved in 142 agent-broker deals in the third quarter to match the amount of deal from the same quarter last year. Members completed 385 acquisitions for the year as …
POSTED NOVEMBER 21, 2024 6:02 AM |
Redfin Reports Home Sales Dropping Fast in Five Florida Metro Areas
The five U.S. metropolitan areas with the biggest drop in home sales are all in Florida, the result of a perfect storm of rising insurance costs, homeowner association fees and repeat storms, a home sales tracking service reported Wednesday. Redfin, …
POSTED NOVEMBER 21, 2024 6:01 AM |
KBRA Downgrades Insurance Financial Strength Ratings of Oregon Mutual Insurance Company
KBRA downgraded the insurance financial strength ratings (IFSR) of Oregon Mutual Insurance Co. and its wholly owned subsidiary, Western Protectors Insurance Co. to BBB+ from A-. The outlooks for both ratings remain negative. The downgrades reflect the continued deterioration in …
POSTED NOVEMBER 21, 2024 6:00 AM |
People Moves: CompScience Names Silver SVP of Client Service and Success
CompScience hired Jeremy Silver as senior vice president of client service and success. Silver has decades of experience scaling customer success, services and support teams. He is currently a founding limited partner at Success Venture Partners, and previously served as …
POSTED NOVEMBER 21, 2024 6:00 AM |
Department of Labor Fines California Retirement Home $137K for Back Wages, Damages
A California assisted living facility for seniors was fined more than $137,000 after an investigation by the U.S. Department of Labor’s Wage and Hour Division reportedly found the facility failed to properly account and pay for all overtime hours worked …
POSTED NOVEMBER 21, 2024 6:00 AM |
Virginia Seeks $4.4 Billion Additional Federal Aid for Hurricane Helene Recovery
Citing the devastating impacts of Hurricane Helene in southwest Virginia, Governor Glenn Youngkin submitted a request to President Joseph Biden, President-elect Donald Trump and Congressional appropriators for $4.4 billion in federal support. Youngkin said the aid is needed to support …
POSTED NOVEMBER 20, 2024 7:00 PM |
AT&T Stadium Roof Debris Falls to Field Before Dallas Cowboys Game
ARLINGTON, Texas (AP) — A piece of the roof at the home of the Dallas Cowboys fell to the field while the retractable portion of it was being opened at least three hours before a 34-10 loss to Houston on …
POSTED NOVEMBER 20, 2024 5:42 PM |
West News Archives - Insurance Journal
KBRA Downgrades Insurance Financial Strength Ratings of Oregon Mutual Insurance Company
KBRA downgraded the insurance financial strength ratings (IFSR) of Oregon Mutual Insurance Co. and its wholly owned subsidiary, Western Protectors Insurance Co. to BBB+ from A-. The outlooks for both ratings remain negative. The downgrades reflect the continued deterioration in …
POSTED NOVEMBER 21, 2024 6:00 AM |
People Moves: CompScience Names Silver SVP of Client Service and Success
CompScience hired Jeremy Silver as senior vice president of client service and success. Silver has decades of experience scaling customer success, services and support teams. He is currently a founding limited partner at Success Venture Partners, and previously served as …
POSTED NOVEMBER 21, 2024 6:00 AM |
Department of Labor Fines California Retirement Home $137K for Back Wages, Damages
A California assisted living facility for seniors was fined more than $137,000 after an investigation by the U.S. Department of Labor’s Wage and Hour Division reportedly found the facility failed to properly account and pay for all overtime hours worked …
POSTED NOVEMBER 21, 2024 6:00 AM |
$1M Settlement for Woman After Police Dog in California Bit into Her Scalp
A Northern California city has agreed to pay nearly $1 million to settle a lawsuit alleging police used excessive force after a K-9 dog bit into a woman’s scalp during her arrest, requiring her to get more than 200 stitches …
POSTED NOVEMBER 20, 2024 3:00 PM |
California Labor Commissioner Fines Hotel $10M for Worker Recall Law Violations
The Marriott Marquis San Diego Marina was fined $9.4 million by the California Labor Commissioner’s Office for violating the state’s worker recall law. The penalty is for the hotel’s reported failure to rehire 15 employees laid off during the pandemic. …
POSTED NOVEMBER 20, 2024 6:00 AM |
More Logging Proposed to Help Curb Wildfires in Pacific Northwest
U.S. officials would allow increased logging on federal lands across the Pacific Northwest in the name of fighting wildfires and boosting rural economies under proposed changes to a sweeping forest management plan that’s been in place for three decades. The …
POSTED NOVEMBER 20, 2024 6:00 AM |
California Department of Insurance Moves Modeling Regulation Proposal Forward
The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …
POSTED NOVEMBER 19, 2024 6:00 AM |
Atmospheric River to Slam the Pacific Northwest and California
Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places. Flooding rainfall and …
POSTED NOVEMBER 18, 2024 11:25 PM |
California Wildfire Destroys 243 Structures, Cancellation Moratorium Issued
California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 200,000 policyholders affected by the Mountain Fire, which has destroyed 243 structures. The order shields those living within the …
POSTED NOVEMBER 18, 2024 6:38 PM |
USGS: Pair of Small Quakes in Southern California’s Inland Empire
A pair of small earthquakes were reported in Southern California’s Inland Empire on Saturday, according to the U.S. Geological Survey. The first magnitude 3.5 earthquake occurred at 2:17 p.m. northwest of Fontana. It was 1. 7 miles deep, according to …
POSTED NOVEMBER 18, 2024 4:30 PM |
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