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Archive: May 2024

Prudential to Wind Down Direct-to-Consumer Assurance Business
Insurance Journal | May 1, 2024
Prudential to Wind Down Direct-to-Consumer Assurance Business
Less than five years after acquiring online insurance startup Assurance IQ for $2.35 billion, Prudential is shutting it down. “Prudential Financial routinely evaluates strategic opportunities for its businesses that are aligned with its long-term growth strategy,” the company said in …
Insurtechs Root, Lemonade Book Q1 Net Income Losses but Each Tout Progress
Insurance Journal | May 1, 2024
Insurtechs Root, Lemonade Book Q1 Net Income Losses but Each Tout Progress
Insurtech Root Inc. posted a net loss for the first quarter 2024 of $6.2 million but said it recorded operating income for the first time in the company’s history. The net income loss for the first three months of the …
Kansas Won’t Legalize Medical Marijuana for at Least a Year
Insurance Journal | May 1, 2024
Kansas Won’t Legalize Medical Marijuana for at Least a Year
TOPEKA, Kan. (AP) — Kansas will remain among the handful of states that haven’t legalized the medical use of marijuana or expanded their Medicaid programs for at least another year. Republican state senators on Friday blocked efforts to force debates …
Houthis Attack Four Ships in Indian Ocean, Red Sea
Insurance Journal | May 1, 2024
Houthis Attack Four Ships in Indian Ocean, Red Sea
Yemen’s Houthis said on Tuesday they targeted the MSC Orion container ship in a drone attack in the Indian Ocean as part of their ongoing campaign against international shipping in solidarity with Palestinians against Israel’s military actions in Gaza. MSC …
16 Nabbed in Florida Sting Operation for Failing to Get Workers’ Comp Coverage
Insurance Journal | May 1, 2024
16 Nabbed in Florida Sting Operation for Failing to Get Workers’ Comp Coverage
A sting operation in Manatee County, Florida, has led to the arrest of 16 men who were working without a contractor’s license and without securing workers’ compensation insurance on their employees. The sting was led by the Manatee Sheriff’s office …
Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing
Insurance Journal | May 1, 2024
Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing
Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk too high. It’s a problem that has …
J&J Advances $6.48 Billion Settlement of Talc Cancer Lawsuits
Insurance Journal | May 1, 2024
J&J Advances $6.48 Billion Settlement of Talc Cancer Lawsuits
Johnson & Johnson said Wednesday it is moving forward with a $6.48 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer. The deal would allow …
BNSF Becomes 2nd RR to Sign on to Anonymous Federal Safety Hotline for Workers
Insurance Journal | May 1, 2024
BNSF Becomes 2nd RR to Sign on to Anonymous Federal Safety Hotline for Workers
OMAHA, Neb. (AP) — BNSF will become the second major freight railroad to allow some of its employees to report safety concerns anonymously through a federal system without fear of discipline. The Federal Railroad Administration announced Thursday that the railroad …
State AG, Atlantic City Casino Union Ask Judge to Dismiss Anti-Smoking Lawsuit
Insurance Journal | May 1, 2024
State AG, Atlantic City Casino Union Ask Judge to Dismiss Anti-Smoking Lawsuit
Atlantic City’s main casino workers union and the New Jersey attorney general this week asked a judge to dismiss a lawsuit brought by a different union that seeks to ban smoking at the city’s nine casinos. Local 54 of the …
Louisiana Lawmakers Repeal ‘Three-Year Rule’ that Barred Policy Cancellations
Insurance Journal | May 1, 2024
Louisiana Lawmakers Repeal ‘Three-Year Rule’ that Barred Policy Cancellations
Property insurers in storm-swept Louisiana could soon gain much more flexibility over policy cancellations if the governor signs House Bill 611 into law, as expected. The state House of Representatives this week approved the bill by a vote of 82 …