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Archive: June 2024

People Moves: Higginbotham Promotes Russell to President, Private Client Services
Insurance Journal | June 28, 2024
People Moves: Higginbotham Promotes Russell to President, Private Client Services
Higginbotham announced the promotion of long-time executive team member and former Chief Operating Officer, Personal Insurance Mary Russell to the position of President, Private Client Services. This move marks the final division of the president title that Higginbotham Chairman and …
Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit
Insurance Journal | June 28, 2024
Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit
A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …
A Potential Atlantic Hurricane Is About to Clash With a Cloud of Saharan Dust
Insurance Journal | June 28, 2024
A Potential Atlantic Hurricane Is About to Clash With a Cloud of Saharan Dust
A cluster of thunderstorms is threatening to become the Atlantic’s next tropical storm or hurricane — if it can survive a cloud of dust from the Sahara. The storms southwest of the Cape Verde islands have a 70% chance of …
Supreme Court Overturns Chevron Rule in Blow to Regulators
Insurance Journal | June 28, 2024
Supreme Court Overturns Chevron Rule in Blow to Regulators
A divided US Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws, issuing a blockbuster ruling that will constrain environmental, consumer and financial-watchdog agencies. The 6-3 decision, which came in a fight over …
Growing Wildfires in New Mexico Destroyed 1,400 Structures
Insurance Journal | June 20, 2024
Growing Wildfires in New Mexico Destroyed 1,400 Structures
A pair of wildfires in New Mexico continue to rage uncontained, destroying an estimated 1,400 structures, forcing the evacuation of more than 8,000 people, while rains also flooded parts of the state. The Salt and South Fork fires have burned …
Chicago Health Care Company to Pay $2M To Settle False Claims Act Suit
Insurance Journal | June 20, 2024
Chicago Health Care Company to Pay $2M To Settle False Claims Act Suit
A Chicago health care company and its former owners will pay nearly $2 million to the United States and the States of Illinois and Indiana to resolve a civil lawsuit arising from the submission of false claims to Medicare and …
Texas Electricity Demand Could Nearly Double in Six Years – ERCOT
Insurance Journal | June 20, 2024
Texas Electricity Demand Could Nearly Double in Six Years – ERCOT
The state’s main electric grid operator has sharply increased its prediction for how much power demand will increase in coming years. If it’s accurate, the state would need to be able to provide nearly double the amount of power within …
Heat Wave Sweeps Across Midwest and Northeast, Bringing Safety Measures
Insurance Journal | June 20, 2024
Heat Wave Sweeps Across Midwest and Northeast, Bringing Safety Measures
TOLEDO, Ohio (AP) — Stifling heat blanketed tens of millions across United States on Tuesday, forcing people and even zoo animals to find ways to cool down as summer arrives in what promises to be a sweltering week. Extreme heat …
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Insurance Journal | June 20, 2024
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. …
Golden Pass LNG Warns of Delays After Contractor’s Bankruptcy
Insurance Journal | June 20, 2024
Golden Pass LNG Warns of Delays After Contractor’s Bankruptcy
The developers of the Golden Pass LNG export facility that’s under construction in Texas warned of additional costs and delays due to the bankruptcy of contractor Zachry Industrial Inc. “Construction of a project of this magnitude, capable of employing nearly …