August 2023 – Page 7 – Ben Few & Company, Inc.

Insurance Journal | August 9, 2023

NC DOI Arrives at 4.5% Increase in Auto Rates for Next Two Years, 9.9% on Dwelling

North Carolina’s insurance commissioner has negotiated a smaller increase on auto insurance rates than the state’s rating agency had requested. The North Carolina Rate Bureau in February requested an average increase of 28.4% for private passenger auto insurance and a …

Insurance Journal | August 9, 2023

Michigan’s CMS Energy to Explore Sale of 13 Hydroelectric Dams

CMS Energy Corp’s unit Consumers Energy said on Wednesday it will explore the sale of its 13 hydroelectric dams, as the energy provider looks to minimize the cost burden on customers. The utility service provides natural gas and electricity to …

Insurance Journal | August 1, 2023

Some Gains Made on 80K Acre Southern California Wildfire

Containment on an 80,000-plus-acre wildfire in Southern California grew to 23% on Tuesday, as firefighters made some progress against the state’s most massive ongoing blaze. It was listed as being at 0% containment a day earlier. The York Fire in …

Insurance Journal | August 1, 2023

Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B

Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …

Insurance Journal | August 1, 2023

AIG General Insurance Sees Strong Q2 Growth, Margin Improvement

American International Group saw second quarter growth in net premiums written in its general insurance segment to $7.5 billion, a 10% increase from the same time a year ago. The insurer’s second quarter net income attributable to common shareholders fell …

Insurance Journal | August 1, 2023

McDonald`s Franchise in Louisiana and Texas Illegally Hired Minors, Labor Department Finds

NEW ORLEANS (AP) – A McDonald`s franchise that controls 12 restaurants in metro New Orleans violated child labor laws and has hired more than 80 minors in two states, the U.S. Department of Labor said. CLB Investments LLC in Metairie …

Insurance Journal | August 1, 2023

1 in 5 Texans Live in Flood Prone Areas, New Data Reveals

Almost 6 million Texans, or about 20% of the population, live in an area susceptible to flooding, according to first-of-its-kind data gathered as part of a statewide effort to harden Texas against floods and rising sea levels. The analysis is …

Insurance Journal | August 1, 2023

Recreational Marijuana Now Legal in Minnesota

MINNEAPOLIS (AP) – Minnesotans can legally possess and grow their own marijuana for recreational purposes starting Tuesday, Aug. 1, subject to limits meant to keep a lid on things while the state sets up a full-blown legal cannabis industry. The …

Insurance Journal | August 1, 2023

PCF Insurance Services Secures $400M Financing as Part of New Loan

PCF Insurance Services said today that it closed $400 million in incremental debt financing led by Blue Owl, a global alternative asset manager that acted as lead arranger and admin agent. The financing was upsized from $300 million to $400 …

Insurance Journal | August 1, 2023

Inmate Sues Private Kansas Prison Operators Over His 2021 Stabbing

LEAVENWORTH, Kan. (AP) – An inmate is suing one of the nation`s largest private prison operators over his 2021 stabbing inside a now-defunct maximum security federal facility in Kansas. Joshua Braddy, who is now incarcerated in Illinois, amended his suit …

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