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Archive: March 2024

Iowa Agrees to Speed Up Access to Civil Court Cases
Insurance Journal | March 20, 2024
Iowa Agrees to Speed Up Access to Civil Court Cases
DES MOINES, Iowa (AP) — The state of Iowa will provide “contemporaneous” access to newly filed civil court cases to settle a lawsuit that accused the state of violating the First Amendment by delaying access to those filings, the Des …
Vale Faces $3.8 Billion Claim in Dutch Case Over Mariana Dam Break in Brazil
Insurance Journal | March 20, 2024
Vale Faces $3.8 Billion Claim in Dutch Case Over Mariana Dam Break in Brazil
Victims of the 2015 Mariana dam break in Brazil are seeking about 3 billion pounds ($3.8 billion) in compensation from mining companies Vale and Samarco in a new lawsuit launched in the Netherlands, their lawyers said on Tuesday. The compensation …
Marsh: Transactional Risk Insurance ‘Remained Resilient’ in 2023
Insurance Journal | March 20, 2024
Marsh: Transactional Risk Insurance ‘Remained Resilient’ in 2023
Despite a drop in the total number of global mergers and acquisitions, demand for transactional risk insurance “remained resilient” in 2023, Marsh announced in its annual transactional risk report. Data from the Institute for Mergers, Acquisitions & Alliances showed 39,603 …
Loan Deadline Looms for China Life Canary Wharf Tower
Insurance Journal | March 20, 2024
Loan Deadline Looms for China Life Canary Wharf Tower
China Life Insurance Co. is in crunch talks with lenders to an office tower in Canary Wharf to help stave off the locality’s third potential major default, as the eastern financial district of London grapples with some of the city’s …
650,000 Residential Properties Hit by Severe Hail in Central US Storms
Insurance Journal | March 20, 2024
650,000 Residential Properties Hit by Severe Hail in Central US Storms
A severe convective storm system spawned softball-sized hail and destructive tornadoes across the central U.S. last week, leaving meteorologists to speculate if warmer winter weather is behind the storm outbreak. As parts of the Midwest recover from the March 13-14 …
Shadow-Fleet Oil Tanker Damaged in Collision Near Denmark
Insurance Journal | March 20, 2024
Shadow-Fleet Oil Tanker Damaged in Collision Near Denmark
A tanker from the shadow fleet of ships assembled to carry Russian oil was involved in a collision near Denmark, casting fresh light on the risks vessels with unknown ownership pose to the world’s oceans. The incident, which involved the …
Markets/Coverages: CFC Introduces Carbon Delivery Insurance Policy
Insurance Journal | March 20, 2024
Markets/Coverages: CFC Introduces Carbon Delivery Insurance Policy
Specialty insurer CFC announced its entry in the carbon insurance market with the launch of a groundbreaking new product. CFC said its new carbon delivery insurance is the first to cover both the physical and political risks faced by businesses …
Expert: ‘Unceasing Onslaught’ of Legal Ads Worth Insurance Industry Attention
Insurance Journal | March 20, 2024
Expert: ‘Unceasing Onslaught’ of Legal Ads Worth Insurance Industry Attention
Often alarming, misleading or just plain annoying — when mass tort lawsuit advertisements pop on a TV screen, many consumers instinctually reach for the remote. An expert believes that the ads are worth your attention. “Especially for those in the …
J.D. Power: Homeowners Insurance Customer Satisfaction at 7-Year Low
Insurance Journal | March 20, 2024
J.D. Power: Homeowners Insurance Customer Satisfaction at 7-Year Low
With 28 catastrophic weather events in 2023 causing nearly $93 billion in damage, customer service satisfaction plunged to a seven year low, according to the latest J.D. Power 2024 U.S. Property Claims Satisfaction Study released today. More extreme weather events …
Florida High Court Ruling Could Cut Damages for Bars Serving Booze to Minors
Insurance Journal | March 20, 2024
Florida High Court Ruling Could Cut Damages for Bars Serving Booze to Minors
Insurers in Florida can can contemplate potentially lower loss costs on liquor liability policies after a recent state Supreme Court ruling that clarified when bars and restaurants can be held partially versus completely liable for some alcohol-related injuries. The court, …