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News Archives - Insurance Journal
Biden Signs Executive Order to Ensure Power for AI Data Centers
President Joe Biden signed an executive order on Tuesday to provide federal support to address massive energy needs for fast-growing advanced artificial intelligence data centers, the White House said. The order calls for leasing federal sites owned by Defense and …
POSTED JANUARY 15, 2025 6:09 AM |
New Auto Liability Minimums Take Effect in North Carolina
This month, the minimum automobile liability coverage requirements in North Carolina jumped to 50/100/50, among the highest minimums in the country. The change is the result of Senate Bill 452, approved in 2023 and which became law last year. The …
POSTED JANUARY 15, 2025 6:01 AM |
Insurance Journal’s ‘Agents of the Year’ Nomination Deadline Soon.
Are you a top agent/producer? Do you know someone at your agency who is? Insurance Journal is searching for the nation’s leading independent agents and producers to become part of Insurance Journal’s Agents of the Year listing to be published …
POSTED JANUARY 15, 2025 6:00 AM |
Construction Firm Owner Sentenced for Tax, Mail and Workers Compensation Fraud
A Hopkinton man was sentenced on Jan. 10, 2025 in federal court in Boston for defrauding the Internal Revenue Service (IRS) and Travelers Insurance Co. over wages he paid to employees of his two construction companies. According to U.S. Attorney …
POSTED JANUARY 15, 2025 6:00 AM |
Dermatologicals Now the Costliest Drug Group in California Workers Comp
Dermatologicals, which include a number of high-priced, private label drugs, account for the biggest share of the total drug spend in the California workers’ compensation system, a new report shows. Data from the California Workers’ Compensation Institute shows recent shifts …
POSTED JANUARY 15, 2025 6:00 AM |
Lincoln-Leavitt Acquiring Pyorre Insurance Agency in California
Lincoln-Leavitt Insurance has acquired Pyorre Insurance Agency in California. Pyorre Insurance Agency’s Lakeport office will relocate to Lincoln-Leavitt Insurance’s location in Lakeport, California, by the end of January. Its Fort Bragg location will remain open, and the same team will …
POSTED JANUARY 15, 2025 6:00 AM |
Minneapolis to Overhaul Police Training After George Floyd’s Murder
The Minneapolis City Council this month approved an agreement with the federal government to overhaul the city’s police training and use-of-force policies in the wake of the murder of George Floyd. The deal incorporates and builds on changes the Minneapolis …
POSTED JANUARY 14, 2025 5:49 PM |
DARAG Acquires Run-Off Portfolio From wefox Insurance AG
DARAG, a leading legacy acquirer with a focus on the European and UK market, and wefox Insurance AG, the Liechtenstein-domiciled insurance carrier of wefox Group, announced the transfer of a run-off portfolio including motor damage and third-party liability, private liability …
POSTED JANUARY 14, 2025 5:45 PM |
Iowa Insurance Division Joins $17M Settlement With Edward Jones
The Iowa Insurance Division, a member of the North American Securities Administrators Association (NASAA), announced last week it has joined a $17 million settlement with Edward D. Jones & Co., L.P. (Edward Jones) resulting from an investigation into the broker-dealer’s …
POSTED JANUARY 14, 2025 5:44 PM |
FTC Says CVS, Cigna and UnitedHealth Abuse Middleman Role
Units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. charged significantly more than the national average acquisition cost for dozens of specialty generic drugs, bringing in more than $7.3 billion in excess revenue over six years, the Federal …
POSTED JANUARY 14, 2025 5:27 PM |
West News Archives - Insurance Journal
Dermatologicals Now the Costliest Drug Group in California Workers Comp
Dermatologicals, which include a number of high-priced, private label drugs, account for the biggest share of the total drug spend in the California workers’ compensation system, a new report shows. Data from the California Workers’ Compensation Institute shows recent shifts …
POSTED JANUARY 15, 2025 6:00 AM |
Lincoln-Leavitt Acquiring Pyorre Insurance Agency in California
Lincoln-Leavitt Insurance has acquired Pyorre Insurance Agency in California. Pyorre Insurance Agency’s Lakeport office will relocate to Lincoln-Leavitt Insurance’s location in Lakeport, California, by the end of January. Its Fort Bragg location will remain open, and the same team will …
POSTED JANUARY 15, 2025 6:00 AM |
Los Angeles Faces Another Day of Extreme Fire Risk as Winds Rise
Hot, dry winds are pummeling Los Angeles and surrounding areas of Southern California, raising wildfire risks through at least Wednesday as the region reels from blazes that have killed at least 24 people and burned neighborhoods to the ground. Tropical-storm-strength …
POSTED JANUARY 14, 2025 4:08 PM |
Navion Acquiring Pegasus Capital & Insurance Services in California
Navion insurance Associates Inc. has acquired Pegasus Capital & Insurance Services Inc. in California. Pegasus Capital & Insurance Services is an insurance agency that specializes in serving the commercial insurance needs of its clients. Navion Insurance Associates is based in …
POSTED JANUARY 14, 2025 6:00 AM |
Edison Utility Sued Over Role of Equipment in Los Angeles Fire
Edison International Inc.’s southern California utility was hit with a lawsuit blaming the energy provider’s equipment for igniting one of the wildfires still raging in the second-largest US metropolis. The lawsuit is on behalf of a group of homeowners, renters, …
POSTED JANUARY 13, 2025 7:23 PM |
Lincoln-Leavitt Acquiring Pyorre Insurance Agency in California
Lincoln-Leavitt Insurance has acquired Pyorre Insurance Agency in California. Pyorre Insurance Agency’s Lakeport office will relocate to Lincoln-Leavitt Insurance’s location in Lakeport, California, by the end of January. Its Fort Bragg location will remain open, and the same team will …
POSTED JANUARY 13, 2025 5:41 PM |
Los Angeles Fires Rage as High Winds Set to Return This Week
At least two rounds of vicious, dry Santa Ana winds are expected to blast through Southern California early this week, bringing powerful gusts that will challenge fire crews struggling to contain two destructive blazes and likely force thousands more residents …
POSTED JANUARY 13, 2025 5:03 PM |
Heffernan Insurance Brokers Acquires Green Financial in Washington
Heffernan Insurance Brokers acquired Green Financial in Kirkland, Washington. Fred Green, president of Green Financial, and his team have joined Heffernan Insurance Brokers’ small business division, HeffDirect. Founded in 1986 by Fred Green and his father Harry Green, Green Financial …
POSTED JANUARY 13, 2025 6:00 AM |
People Moves: Film Broker Baratta Joins Front Row Insurance in Los Angeles
Front Row Insurance Brokers LLC hired film insurance broker Anthony Baratta to its Los Angeles office. Baratta joins Front Row after a 16-year career at Gallagher Entertainment, where he served as area senior vice president. Baratta began his career at …
POSTED JANUARY 13, 2025 6:00 AM |
Private Hospital Owner Prospect Medical Files for Bankruptcy
Prospect Medical Holdings Inc., once an active buyer of cash-strapped hospitals, filed for bankruptcy after struggling with debt piles and soaring costs. The company listed $1 billion to $10 billion in assets and liabilities each, along with more than 100,000 …
POSTED JANUARY 13, 2025 6:00 AM |
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