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Archive: May 2023

State Farm’s California Halt Reflects Overall Poor Underwriting Experience, Ratings Agency Says
Insurance Journal | May 31, 2023
State Farm’s California Halt Reflects Overall Poor Underwriting Experience, Ratings Agency Says
State Farm’s announcement last week that the carrier was no longer writing new personal or business property casualty policies in California “reflects the poor underwriting experience for California homeowners’ writers,” a ratings agency said on Wednesday. Fitch Ratings issued a …
People Moves: VIAA Promotes, Hires Team Members
Insurance Journal | May 31, 2023
People Moves: VIAA Promotes, Hires Team Members
Valley Insurance Agency Alliance Promotes, Hires Team Members Valley Insurance Agency Alliance recently promoted Amy Russell to lead pod marketer and hired Michael Welch as commercial marketer. Russell, who previously served as marketing specialist and account manager, has over 30 …
Louisiana Dept. of Insurance Reminds Residents of Roof Coverage Ahead of Hurricane Season
Insurance Journal | May 31, 2023
Louisiana Dept. of Insurance Reminds Residents of Roof Coverage Ahead of Hurricane Season
The Louisiana Department of Insurance (LDI) is reminding residents to review and assess their roof insurance coverage ahead of the 2023 Atlantic Hurricane Season, which begins June 1. LDI recommends policyholders review their policy to see what deductibles they have …
Environmental Platform Urges 1,600-Plus High-Emitting Firms to Disclose Data
Insurance Journal | May 31, 2023
Environmental Platform Urges 1,600-Plus High-Emitting Firms to Disclose Data
More than 1,600 companies identified by non-profit platform CDP as having the biggest impact on the environment are not disclosing environmental data, it said as it launched its latest campaign to get firms to provide the information. CDP, which has …
Inspectors in McClenney Moseley ‘Fraud’ Scheme Sue for Unpaid Bonuses and Overtime
Insurance Journal | May 30, 2023
Inspectors in McClenney Moseley ‘Fraud’ Scheme Sue for Unpaid Bonuses and Overtime
Seventeen former field inspectors for a company that provided damage estimates for McClenney Moseley & Associates filed a lawsuit against their former employer, saying they are owed for bonuses that were promised but never paid and uncompensated overtime. The plaintiffs …
Louisiana Parishes Top List of Riskiest US Housing Markets
Insurance Journal | May 30, 2023
Louisiana Parishes Top List of Riskiest US Housing Markets
A pair of Louisiana parishes lead CoreLogic’s ranking of riskiest U.S. housing markets based on natural-disaster probability. CoreLogic’s Climate Risk Analytics: Composite Risk Score (CRA Composite Risk Score) identified Plaquemines Parish as the place most at risk for property damage …
People Moves: Hiscox Appoints Bloomer as Chair, Succeeding Childs; SCOR Names de Varenne as Group CFO and Deputy CEO
Insurance Journal | May 30, 2023
People Moves: Hiscox Appoints Bloomer as Chair, Succeeding Childs; SCOR Names de Varenne as Group CFO and Deputy CEO
This edition of International People Moves details executive appointments at Hiscox and SCOR. A summary of these new hires follows here. Hiscox Appoints Bloomer as Chair, Succeeding Childs Hiscox Ltd., the international specialist insurer, announced the appointment of Jonathan Bloomer …
Illinois Video Game Parlor Operator to Pay $92K Over Pay Discrimination Suit
Insurance Journal | May 30, 2023
Illinois Video Game Parlor Operator to Pay $92K Over Pay Discrimination Suit
Lacey’s Place LLC Series Midlothian, doing business as Lacey’s Place, which owns and operates more than 30 video gaming parlors in Illinois, will pay $92,964 and furnish other relief to settle a pay discrimination and retaliation lawsuit filed by the …
Purdue Pharma Can Protect Sackler Owners in Opioid Bankruptcy, Court Rules
Insurance Journal | May 30, 2023
Purdue Pharma Can Protect Sackler Owners in Opioid Bankruptcy, Court Rules
Bankrupt Oxycontin manufacturer Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. The New …
Davenport, Iowa Officials: No Fatalities After Partial Building Collapse
Insurance Journal | May 30, 2023
Davenport, Iowa Officials: No Fatalities After Partial Building Collapse
DAVENPORT, Iowa (AP) – There were no confirmed fatalities and no known people still trapped the morning after a six-story apartment building in the eastern Iowa city of Davenport partially collapsed, authorities said Monday. Davenport Fire Chief Michael Carlsten said …