Category: Insurance

July 25, 2024

The Rev. John Parks was taking his first sabbatical in 40 years of ministry when he got a call from his church’s accountant with some bad news. Church Mutual, the church’s insurance company, had dropped them. “This does not make […]

July 22, 2024

Law enforcement officials are continuing to investigate a July 13 shooting at a Butler, Pa. rally for former President Donald Trump’s 2024 election campaign. During the incident, the former president was injured, one spectator was killed, and two more were […]

July 17, 2024

Independent insurance agency Deland, Gibson Insurance Associates in Wellesley, Massachusetts announced it recently acquired Atchue Insurance Agency, which is located about 35 miles away in Worcester. Founded by Earl V. Atchue, Jr. in 1982, Atchue Insurance Agency has grown from […]

July 11, 2024

Fifth Third Bank agreed this week to pay a $5 million fine for illegally forcing vehicle insurance onto borrowers who had coverage. Fifth Third also agreed to pay a $15 million fine for illegal sales practices. The Cincinnati, Ohio-based bank […]

July 5, 2024

Zimbabwe received $31.8 million from African Risk Capacity, an arm of the African Union, as part of an insurance payout for the devastation the country suffered from an El Niño-induced drought. Finance Minister Mthuli Ncube told reporters on Thursday in […]

June 25, 2024

PCF Insurance Services, a multi-state brokerage headquartered in Utah, announced it has acquired four new operations, two of them in the Southeast. The Brady Agency, offering commercial and personal lines coverage in North Carolina and Virginia with offices in the […]

June 12, 2024

In the city of Ahmedabad in western India, temperatures climbed above 43C (109F) every day between May 19 and May 25, creating deadly hot working conditions for many of the laborers who keep the local economy humming. For 40-year-old Lataben […]

June 7, 2024

The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from higher inflation and supply […]

May 2, 2024

Private flood insurer Neptune Flood reported it has acquired Charles River Data, a Boston-based data science consulting group. According to Neptune, the strategic move will bolster its underwriting system through advanced data science, machine learning, and artificial intelligence capabilities. Charles […]

April 29, 2024

The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault auto insurance law and may have finally put to rest years of questions about the much-debated statute. In answering a […]

April 24, 2024

Global commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Marsh, the insurance brokerage business of Marsh McLennan. […]

April 23, 2024

Three investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known […]

April 11, 2024

After the Florida Legislature in 2022 and 2023 passed sweeping reforms designed to limit excessive claims litigation, some in the insurance industry predicted that the new rules would prevent further rate increases – but would not lead to actual decreases […]

April 8, 2024

A former Maryland title insurance agent recently pleaded guilty to carrying out a multi-year theft scheme netting her more than $369,000, according to the state attorney general. Cheryl Leigh Gray was a licensed insurance producer working as the operations manager […]

March 28, 2024

Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week. “My expectation would be that, ultimately, there’ll be insurance payments in part to cover […]

March 22, 2024

Minnesota homeowners insurance complaints rose 108% from 2020 to 2023, with of those complaints from homeowners concerned their claims were denied or they faced high out-of-pocket costs after damage from wind and hail. The Minnesota Department of Commerce (DOC) shared […]

March 11, 2024

In a statement on the company’s website, Oxygen says it officially commenced the “account closure process” on 8 March, with both consumers and business users being informed that their accounts will be closed on 29 March. The firm adds that […]

January 29, 2024

When disaster hits in the US, the federal government gives aid to states and counties, but also to individuals. In 2022, the Federal Emergency Management Agency delivered $3.25 billion to nearly 1.4 million households recovering from damaging floods and fires. […]

January 25, 2024

Amazon has pulled the plug on its UK home insurance venture – a comparison website – after launching in October 2022. “Over the last year, we have been evaluating various businesses and programs, and as a part of that we’ve […]

January 22, 2024

State and national news reports have raised questions about the impact that high property insurance premiums in Florida have had on the real estate market and if the costs are prompting some residents to consider moving elsewhere. The Miami Herald […]