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Archive: November 2022

Zurich Insurance Expects $550M Hit From Hurricane Ian, but On Track to Beat Targets
Insurance Journal | November 10, 2022
Zurich Insurance Expects $550M Hit From Hurricane Ian, but On Track to Beat Targets
Zurich Insurance Group expects a net $550 million pre-tax hit from Hurricane Ian, it said on Thursday, though it remains on track to beat its 2020-2022 financial targets, helped by premium rate rises. Insurers face potential losses of up to …
Medibank Hack Could Cost A$700M for Damages and Fixes
Insurance Journal | November 10, 2022
Medibank Hack Could Cost A$700M for Damages and Fixes
The data breach at Medibank Private Ltd. could cost the Australian health insurer A$700 million ($450 million) if customers decide to sue for damages after personal medical details were posted to a forum on the dark web, according to Bloomberg …
Global Securities Regulators Plan Closer Scrutiny of Carbon Trading
Insurance Journal | November 10, 2022
Global Securities Regulators Plan Closer Scrutiny of Carbon Trading
Global securities regulators proposed closer scrutiny of carbon trading on Wednesday to deepen liquidity and prevent greenwashing in markets used by companies to offset their emissions to drive the transition to a net-zero economy. The International Organization of Securities Commissions …
Liberty Co. Names Choi VP
Insurance Journal | November 10, 2022
Liberty Co. Names Choi VP
The Liberty Co. Insurance Brokers, based in Gainesville, Florida, has named Douglas Choi vice president for risk management and program underwriting. Choi spent 15 years with carriers, including several with Travelers and Nationwide, before moving to the broker side. This …
Appeals Court Dismisses a Third-Party Payer Class Action in Win for Zantac Makers
Insurance Journal | November 10, 2022
Appeals Court Dismisses a Third-Party Payer Class Action in Win for Zantac Makers
Reports about the risk of carcinogens in Zantac heartburn medications may be piling up, and lawsuits over the discontinued drug have topped more than 100,000 nationwide. But a proposed class action involving dozens of plaintiffs has now been been dismissed …
Takeaways from Our Conversation Cannabis Sales at Circle K
Insurance Journal | November 10, 2022
Takeaways from Our Conversation Cannabis Sales at Circle K
Circle K’s deal with Green Thumb Industries to sell cannabis at some of its Florida gasoline retail locations may be a sign the industry has finally crossed any remaining mainstream barriers. Green Thumb CEO Ben Kovler told Bloomberg the deal …
Beware of Foraging Bears in Hyperphagia Dealing With Acorn Shortage
Insurance Journal | November 10, 2022
Beware of Foraging Bears in Hyperphagia Dealing With Acorn Shortage
Wildlife officials in Connecticut are warning residents against feeding bears particularly over the next few months as the animals step up their hunt for the extra food they will need before hibernating for the winter. According to the Connecticut Department …
Washington AG Investigating ‘Possible Discrimination’ for Insurers Using Credit Scores
Insurance Journal | November 9, 2022
Washington AG Investigating ‘Possible Discrimination’ for Insurers Using Credit Scores
Attorney General Bob Ferguson announced that a Thurston County Superior Court judge rejected an attempt by PEMCO Mutual Insurance Company and subsidiaries of the Progressive Corporation to stop his office’s investigation of potential race discrimination against Washington drivers. The companies …
Texas DWC to Hold Quarterly Stakeholder Meetings on Nov. 29
Insurance Journal | November 9, 2022
Texas DWC to Hold Quarterly Stakeholder Meetings on Nov. 29
The Texas Division of Workers’ Compensation (DWC) will hold its quarterly stakeholder meeting for insurance carriers and medical providers in the Texas workers’ compensation system on Nov. 29. DWC said the meetings provide an update on routine information and data …
Kansas Utility to Pay $120K Settlement
Insurance Journal | November 9, 2022
Kansas Utility to Pay $120K Settlement
The U.S. Environmental Protection Agency (EPA) announced a settlement under the Agency’s Coal Combustion Residuals (CCR) program with Evergy Kansas Central Inc. at the company’s retired Tecumseh Energy Center coal-fired power plant in Tecumseh, Kansas. In the settlement, Evergy will …