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Archive: October 2022

Mom Whose Son’s Death Led to Missouri Jail Reforms Wins $1.2 Million Settlement
Insurance Journal | October 10, 2022
Mom Whose Son’s Death Led to Missouri Jail Reforms Wins $1.2 Million Settlement
A mother whose son died less than an hour after he was transported from a Missouri jail to a state prison has won a $1.2 million settlement in a case that helped lead to suspensions, firings and reforms. The St. …
Ian Death Toll in US Hits 100 Across Three States
Insurance Journal | October 10, 2022
Ian Death Toll in US Hits 100 Across Three States
The death toll from Ian reached 100 on Friday, making it the third most deadly hurricane to hit the mainland in a decade. The number of confirmed deaths across three states continues to climb nine days after Ian roared ashore …
RMS Range of Insured Losses from Ian $53-$74B, ‘Best Estimate’ of $67B
Insurance Journal | October 10, 2022
RMS Range of Insured Losses from Ian $53-$74B, ‘Best Estimate’ of $67B
Catastrophe modeler RMS chimed in on Hurricane Ian with an estimate of private-market insured losses from the storm of $67 billion. The Moody’s Analytics company said the amount was a “best estimate,” and also supplied a range of between $53 …
Insured Damages From Hurricane Ian $31-$53B: CoreLogic
Insurance Journal | October 10, 2022
Insured Damages From Hurricane Ian $31-$53B: CoreLogic
Property data and analytics provider CoreLogic included new and updated projections of storm surge and flood losses for Hurricane Ian for a final tally of between $41 billion and $70 billion in insured and uninsured flood and wind losses. Insured …
Ending Florida Agency Led to More Development, Losses in Ian, Report Says
Insurance Journal | October 10, 2022
Ending Florida Agency Led to More Development, Losses in Ian, Report Says
The shuttering of a state agency that was created to manage growth in Florida’s vulnerable coastal areas may have helped fuel the steady development that during Hurricane Ian resulted in some of the largest insured property losses in state history. …
AM Best Says Tower Hill ‘Rearranging the Furniture;’ Faces Surplus, Capital Problems
Insurance Journal | October 10, 2022
AM Best Says Tower Hill ‘Rearranging the Furniture;’ Faces Surplus, Capital Problems
The downgrade of one of Tower Hill’s insurance companies by AM Best financial rating firm, announced the day that Hurricane Ian nosed into southwest Florida, has led to new speculation that Tower Hill could be the next insurer to falter …
Two New York Hospitals to Pay $165M to Victims of Abuse by Gynecologist
Insurance Journal | October 10, 2022
Two New York Hospitals to Pay $165M to Victims of Abuse by Gynecologist
Two New York hospitals have agreed to pay more than $165 million to 147 former patients who have accused a former gynecologist of sexual abuse and misconduct. Columbia University Irving Medical Center and NewYork-Presbyterian announced the agreement Friday. Last year, …
City of Rochester Agrees to Pay $12M to Family of Black Man Killed by Police
Insurance Journal | October 10, 2022
City of Rochester Agrees to Pay $12M to Family of Black Man Killed by Police
City officials agreed to pay $12 million to the children of Daniel Prude, a Black man who died after police held him down until he stopped breathing on a snowy street in Rochester, New York. A federal judge approved the …
Munich Re Commits to Stricter Policies for Oil & Gas Underwriting, Investments
Insurance Journal | October 7, 2022
Munich Re Commits to Stricter Policies for Oil & Gas Underwriting, Investments
Munich Re, the world’s largest reinsurer, on Thursday announced stricter policies for investing in and underwriting oil and gas projects, drawing praise from environmental activists. The German reinsurer said on its website that as of April 2023 it would not …
Florida Citrus Industry Squeezed by Hurricane Ian; Crop Insurance to Cover Some Losses
Insurance Journal | October 7, 2022
Florida Citrus Industry Squeezed by Hurricane Ian; Crop Insurance to Cover Some Losses
The waters have receded, but the stink lingers. As Emma Reynolds Ezell surveys the damage that a night of 100 mile-per-hour winds wrought on her orange groves, she just can’t get over the stench. It’s nothing like the usual sweet …