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Archive: December 2022

Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Insurance Journal | December 30, 2022
Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for liquefied natural gas (LNG) vessels, industry sources said on Friday. Japan’s …
Global Natural Catastrophe Insurance Losses Estimated at $112B in 2022: Carpenter
Insurance Journal | December 30, 2022
Global Natural Catastrophe Insurance Losses Estimated at $112B in 2022: Carpenter
Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. Flood and hail in Europe, Australian …
Highway Fatalities Top 170 in Maine
Insurance Journal | December 29, 2022
Highway Fatalities Top 170 in Maine
Maine is likely to finish the year with its highest number of highway fatalities in 15 years, as a pandemic trend of speeding and reckless driving continues across the state, officials said. The unofficial number of highway deaths stood at …
Pennsylvania Helps Buffalo Clear Snow; State Acts on Insurance, Banks, Flood Risk
Insurance Journal | December 29, 2022
Pennsylvania Helps Buffalo Clear Snow; State Acts on Insurance, Banks, Flood Risk
Like a good neighbor, the state of Pennsylvania is sending equipment and personnel to help neighboring Buffalo, New York, dig out from the recent deadly winter storm that dumped more than four feet of snow in the region and has …
Ohio Supreme Court: Ransomware Did Not Cause Direct Physical Loss
Insurance Journal | December 29, 2022
Ohio Supreme Court: Ransomware Did Not Cause Direct Physical Loss
A business owner’s insurance policy did not provide coverage for software damaged by a ransomware attack because there was no direct physical damage or loss, the Ohio Supreme Court ruled. “Computer software cannot experience ‘direct physical loss or physical damage’ …
Oklahoma Airport Says Air Force Charter Damaged Runway
Insurance Journal | December 29, 2022
Oklahoma Airport Says Air Force Charter Damaged Runway
STILLWATER, Okla. (AP) – A military cargo aircraft carrying the U.S. Air Force Academy women’s basketball team to a game at Oklahoma State University landed without authorization at the city’s airport and caused damage to its runway, city officials in …
California Workers’ Comp Bureau Says Premium Fell Sharply Beginning in 2Q 2020
Insurance Journal | December 20, 2022
California Workers’ Comp Bureau Says Premium Fell Sharply Beginning in 2Q 2020
Written premium declined sharply beginning in the second quarter of 2020 due to the economic downturn resulting from the pandemic, according to a report out on Tuesday. The report from the Workers’ Compensation Insurance Rating Bureau of California shows a …
Report: California, Hawaii Had Among Nation’s Worst Ranked Roads
Insurance Journal | December 20, 2022
Report: California, Hawaii Had Among Nation’s Worst Ranked Roads
California’s expansive road system was among the nation’s worst ranked, according to a report from a research firm out on Tuesday. Hawaii’s roads were ranked as the nation’s worst. ConsumerAffairs, a non-government research firm, used its own data combined with …
M6.4 in Northern California Leaves Tens of Thousands Without Power
Insurance Journal | December 20, 2022
M6.4 in Northern California Leaves Tens of Thousands Without Power
A magnitude 6.4 earthquake struck northern California on Tuesday, according to the U.S. Geological Survey. The quake struck roughly 200 miles north of San Francisco in the vicinity of the Mendocino triple junction where the Pacific, North America and Juan …
Hilb Group Expands in New York Region With Commercial Book Acquisition
Insurance Journal | December 20, 2022
Hilb Group Expands in New York Region With Commercial Book Acquisition
The Hilb Group has acquired a book of commercial property/casualty business in the tri-state region. Hilb Group did not identify the seller or size of the book of businesses. The business will be managed by Williston Park, New York-based Hiram …