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Hurricane Ian Threatens Heavy Losses for Catastrophe Bond Holders
Insurance Journal | September 30, 2022
Hurricane Ian Threatens Heavy Losses for Catastrophe Bond Holders
Investors who backstop Florida’s insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and push up insurance costs for residents. Ian’s landfall hammered Florida …
TotalEnergies Reports Unusual Drone Activity Near North Sea Oil & Gas Field
Insurance Journal | September 30, 2022
TotalEnergies Reports Unusual Drone Activity Near North Sea Oil & Gas Field
TotalEnergies SE said it spotted an aerial drone close to an oil field in the Danish North Sea, intensifying concerns of an energy conflict erupting in Europe. Unusual drone activity was seen near its Halfdan B oil and gas field …
Sex Abuse Allegations Spread Against Cheerleading Industry
Insurance Journal | September 30, 2022
Sex Abuse Allegations Spread Against Cheerleading Industry
Sprawling allegations of abuse against cheerleaders reached Tennessee on Monday in a case that escalates the accusations facing some of the sport’s top institutions. An adult coach sexually assaulted teenage boys at Premier Athletics, according to allegations in a federal …
CF Acquires 1 Source Business Solutions in Utah
Insurance Journal | September 30, 2022
CF Acquires 1 Source Business Solutions in Utah
PCF Insurance Services acquired 1 Source Business Solutions in Salt Lake City, Utah. 1 Source Business Solutions is a professional employer organization specializing in employee benefits, payroll administration, HR compliance and consulting, and workers’ compensation administration. Lehi, Utah-based PCF Insurance …
Connecticut Workers’ Compensation Costs to Fall in 2023
Insurance Journal | September 30, 2022
Connecticut Workers’ Compensation Costs to Fall in 2023
Connecticut workers’ compensation costs to employers are on their way down, again. The industry’s National Council on Compensation Insurance’s (NCCI) has proposed an overall average change of -3.0% to the current voluntary loss costs and no change to the current …
Transgender Teacher, Maryland School District Settle Lawsuit
Insurance Journal | September 30, 2022
Transgender Teacher, Maryland School District Settle Lawsuit
UPPER MARLBORO, Md. (AP) — A transgender teacher who said she was harassed by students, parents and colleagues has settled a lawsuit with a Maryland school district with an agreement that includes policy changes and training. Attorneys for Jennifer Eller …
Connecticut Regulates ‘Defense Within Limits’ Provisions by Insurers
Insurance Journal | September 29, 2022
Connecticut Regulates ‘Defense Within Limits’ Provisions by Insurers
Connecticut’s insurance regulator has provided commercial insurers with updated guidance on “defense within limits” policy provisions including the lines of insurance on which they may be included and the consumer disclosure required. The guidance from the Connecticut Insurance Department (CID) …
Burns & Wilcox Brand Ambassador Max Homa Earns 5th PGA Tour Victory
Insurance Journal | September 20, 2022
Burns & Wilcox Brand Ambassador Max Homa Earns 5th PGA Tour Victory
Burns & Wilcox brand ambassador Max Homa opened the 2022-23 PGA Tour season with a victory at the Fortinet Championship in Napa, California on Sunday, his fifth career PGA victory. Homa is one of three PGA Tour players currently sponsored …
Indiana Steelworker Dies After Industrial Accident
Insurance Journal | September 20, 2022
Indiana Steelworker Dies After Industrial Accident
A steelworker who was injured last week in an industrial accident at a northwest Indiana steel mill has died at a Chicago hospital, officials said. Michael Osika, 44, of Schererville died Saturday after being injured Thursday at the Cleveland-Cliffs Indiana …
Centene to Pay Texas $165 Million in Medicaid Drug Pricing Settlement
Insurance Journal | September 20, 2022
Centene to Pay Texas $165 Million in Medicaid Drug Pricing Settlement
Health insurance giant Centene Corp. has agreed to pay $165.6 million to Texas to resolve claims that it overcharged the state’s Medicaid program for pharmacy services. It’s the biggest known payout by the nation’s largest Medicaid insurer over its drug …