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Insurance Journal | November 18, 2022

Indiana House Explosion Injures 3; Gas Leak Blamed in Blast

PRINCETON, Ind. (AP – A house explosion in southwestern Indiana that injured three people has been traced to a heater that began leaking natural gas during maintenance work, authorities said. Four people were inside the two-story home when it was …

Insurance Journal | November 10, 2022

Acrisure Buys New York Technology Services Firm Homefield IT

Insurance broker and real estate services firm Acrisure announced that it has acquired business technology firm Homefield IT, which will become part as part of Acrisure Cyber Services (ACS). Based in New York City, Homefield IT specializes in managed information …

Insurance Journal | November 10, 2022

Voters Approve Recreational Marijuana in Two More States to Total 21

Voters approved recreational marijuana in Maryland and Missouri but rejected it in three other states, signaling support gradually growing for legalization even in conservative parts of the country. The results mean that 21 states have now approved marijuana’s recreational use. …

Insurance Journal | November 10, 2022

Arkansas Voters Reject Legalizing Marijuana

LITTLE ROCK, Ark. (AP) – Arkansas voters have rejected a constitutional amendment that would have legalized recreational marijuana in the state. The proposal failed six years after Arkansas voters made the state the first in the Bible Belt to legalize …

Insurance Journal | November 10, 2022

Moody’s: California Utilities Reduced Liability Following Catastrophic Wildfires

A new report shows California utilities have noticeably reduced their liability following catastrophic wildfires in the past that have been blamed on the utilities and have driven several massive lawsuits and financial challenges. The report out on Thursday from Moody’s …

Insurance Journal | November 10, 2022

D&O Pricing Falls 14.7% in Q3, Breaking 17-Quarters of Pricing Increases: Aon

Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey. Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to 1.57 from 1.96 in the prior-year quarter, …

Insurance Journal | November 10, 2022

Iowa Voters Add Gun Rights to Constitution

DES MOINES, Iowa (AP) – Iowans voted Tuesday to add a right to keep and bear arms into the state constitution, a move that will make it more difficult to pass gun restrictions and easier to strike down existing gun …

Insurance Journal | November 10, 2022

No Radioactive Contamination Found at Missouri School

FLORISSANT, Mo. (AP) – Testing by the U.S. Army Corps of Engineers found no radioactive contamination at a Missouri school that was shut down last month amid fears that nuclear material from a contaminated creek nearby had made its way …

Insurance Journal | November 10, 2022

Novatae Risk Group Acquires MarketScout; Kerr Named CEO

Managing general agent Novatae Risk Group said it acquired fellow MGA, MarketScout Corp., on Nov 1. Terms of the transaction were not disclosed. Richard Kerr, founder and CEO of Dallas-based MarketScout, was named CEO of Novatae, effective immediately. Steve Cook, …

Insurance Journal | November 10, 2022

Insurers Say ‘Bazooka’ of Bogus Boys Scouts Claims is Abuse of Bankruptcy System

A group of insurers – including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers – are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy reorganization plan to allow the organization to settle tens of …