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Archive: July 2024

Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
Insurance Journal | July 29, 2024
Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
Two U.S. senators are calling on the Federal Trade Commission to investigate automakers selling customers’ driving data to brokers who package it and then sell it to insurance companies. In a letter to FTC Chairwoman Linda Khan, Democrats Ron Wyden …
Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
Insurance Journal | July 29, 2024
Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
Three months after Tyco Fire Products agreed to pay $750 million to communities with groundwater affected by so-called “forever chemicals” found in fire-stopping foam, Tyco has reached a tentative settlement with one of its insurance companies. “…We write jointly on …
California Wildfire Grows to 575 Square Miles, Destroying at Least 100 Structures
Insurance Journal | July 29, 2024
California Wildfire Grows to 575 Square Miles, Destroying at Least 100 Structures
At least 100 structures have been destroyed and roughly 4,200 more are being threatened by the Park Fire, near Chico, California, which has burned 368,256 acres and now touches four counties. Containment on the Park Fire, which has 4,742 fighting …
Hurricane Beryl Caused Estimated $2-3B in Insured Losses to U.S. Property: Verisk
Insurance Journal | July 19, 2024
Hurricane Beryl Caused Estimated $2-3B in Insured Losses to U.S. Property: Verisk
Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said. Beryl made landfall near Matagorda Bay, Texas the morning of …
Global IT Crash That Blocked 911 Calls and Grounded Planes Eases
Insurance Journal | July 19, 2024
Global IT Crash That Blocked 911 Calls and Grounded Planes Eases
In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp. and CrowdStrike have rolled out …
Tesla’s California Car Registrations Fall for Third Straight Quarter
Insurance Journal | July 19, 2024
Tesla’s California Car Registrations Fall for Third Straight Quarter
Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry …
People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO
Insurance Journal | July 19, 2024
People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO
Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with Church Mutual Insurance …
People Moves: Society Insurance Names Brown to Board of Directors
Insurance Journal | July 10, 2024
People Moves: Society Insurance Names Brown to Board of Directors
Society Insurance, headquartered in Fond du Lac, Wisconsin, elected Sherman Brown of Chicago as a director at its annual meeting of policyholders. Thomas Gross retired from Society’s board of directors after serving for 27 years. Brown is executive vice president …
Chubb Continues Promotion Spree in North American Operations
Insurance Journal | July 10, 2024
Chubb Continues Promotion Spree in North American Operations
Chubb today announced an additional handful of promotions within its North America insurance operations, with Ana Robic and Ben Rockwell getting appointed senior vice president of Chubb Group. Robic is division president, North America personal risk services, and Rockwell is …
Ford Pro Expands to Minnesota and Maryland
Insurance Journal | July 10, 2024
Ford Pro Expands to Minnesota and Maryland
Ford Pro is expanding the availability of its commercial auto coverage, Ford Pro Insure, to Maryland and Minnesota. Ford Pro is underwritten by Ford Credit’s insurance subsidiary and powered by Pie Insurance. Minnesota is the first state with a Ford …