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Archive: May 2024

Michigan Police Arrest 6 Men for Stealing $8M Worth of Vehicles
Insurance Journal | May 20, 2024
Michigan Police Arrest 6 Men for Stealing $8M Worth of Vehicles
LANSING, Mich. (AP) — Six men working as part of a criminal organization in Michigan have been arrested in connection with the theft of more than 400 vehicles worth about $8 million, authorities said last week. The men, between the …
Thousands Remain Without Power After Deadly Storms Hit Houston
Insurance Journal | May 20, 2024
Thousands Remain Without Power After Deadly Storms Hit Houston
HOUSTON (AP) — As the Houston area works to clean up and restore power to hundreds of thousands after deadly storms left at least seven people dead, it will do so amid a smog warning and scorching temperatures that could …
GM, LG Agree on $150M Relief for Chevy Bolt EV Owners Over Faulty Batteries
Insurance Journal | May 20, 2024
GM, LG Agree on $150M Relief for Chevy Bolt EV Owners Over Faulty Batteries
General Motors and South Korea’s LG Electronics reached a settlement to establish a $150 million fund to provide relief to Chevrolet Bolt EV owners affected by defective batteries, documents filed in a U.S. court on Thursday showed. General Motors first …
Despite Consumer Watchdog’s Supreme Court Win, CFPB Powers Still on Chopping Block
Insurance Journal | May 20, 2024
Despite Consumer Watchdog’s Supreme Court Win, CFPB Powers Still on Chopping Block
The U.S. Supreme Court’s decision safeguarding the Consumer Financial Protection Bureau—the nation’s consumer finance watchdog—earned plaudits from supporters of robust federal regulation. But their praise for the court may prove short-lived. Powered by its 6-3 conservative majority, the court has …
Coast Guard Studying if Other Bridges at Risk After Baltimore Collapse
Insurance Journal | May 20, 2024
Coast Guard Studying if Other Bridges at Risk After Baltimore Collapse
The U.S. Coast Guard said it is evaluating whether other bridges nationwide are at risk after a cargo ship crashed into the Francis Scott Key Bridge in Baltimore in March, killing six people and destroying the Patapsco River crossing. Coast …
After Two Years in the Eye of the Storm, Neal Steps Down From FIGA. Brown Up Next
Insurance Journal | May 20, 2024
After Two Years in the Eye of the Storm, Neal Steps Down From FIGA. Brown Up Next
Corey Neal took over as executive director of the Florida Insurance Guaranty Association in early 2022, at the height of what many would say were some of the darkest days for the Florida property/casualty market. Two carriers had just been …
People Moves: AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC/Europe
Insurance Journal | May 17, 2024
People Moves: AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC/Europe
AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC & Europe AXA XL announced that Robert Riha has been appointed as chief client & distribution officer, APAC & Europe, effective July 1. In his new role, Riha will …
Security First Touts 5% Rate Decrease for HO-3, Renters Policies in Florida
Insurance Journal | May 17, 2024
Security First Touts 5% Rate Decrease for HO-3, Renters Policies in Florida
Citing the stabilizing impact that legislative reforms have had on the Florida market, Security First Insurance Co. executives this week announced two residential property rate reductions of more than 5%. “For the first time in nine years, we’re going to …
Kansas Governor Cites Competition Concerns While Vetoing Bill for School Gun-Detection Technology
Insurance Journal | May 17, 2024
Kansas Governor Cites Competition Concerns While Vetoing Bill for School Gun-Detection Technology
Kansas Gov. Laura Kelly vetoed a measure Wednesday that could have earmarked up to $5 million for gun-detection systems in schools while expressing concern that it could have benefitted only one particular company. Kelly’s line-item veto leaves in place $5 …
Indigenous Consultant Accuses Chicago Blackhawks of Fraud, Sexual Harassment
Insurance Journal | May 17, 2024
Indigenous Consultant Accuses Chicago Blackhawks of Fraud, Sexual Harassment
A consultant the Chicago Blackhawks hired to improve relationships with American Indian tribes has filed a lawsuit accusing the team, its charity foundation and its CEO of fraud, breach of contract and sexual harassment. Nina Sanders filed the civil action …