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Insurance Journal | July 9, 2024

Michigan DIFS Bulletin Prohibits Discounting Labor Costs for Depreciation

Michigan Department of Insurance and Financial Services (DIFS) Director Anita Fox released a new bulletin explicitly prohibiting insurers from discounting labor costs for depreciation when paying a homeowners insurance claim unless the insured has agreed in advance to the reduction …

Insurance Journal | July 9, 2024

Ohio Apartment Building Set to Reopen After Nearby Deadly Gas Explosion

A 16-story apartment building in Ohio may reopen early next month, several weeks after it was temporarily shuttered following a deadly natural gas explosion that severely damaged a neighboring building. Youngstown officials had ordered the evacuation of the International Towers …

Insurance Journal | July 1, 2024

California Wildfire Outlook: ‘A Challenging Season for Firefighters’

While the historically official start to California’s wildfire season is still a ways off, the best forecast of the what’s ahead may be to look back on the year so far, and so far it’s been far busier for firefighters …

Insurance Journal | July 1, 2024

Ohio Company to Pay $23K Over Disability Discrimination Suit

Pearl Interactive Network, Inc., a Columbus, Ohio-based telecommunications company, resolved a charge of disability discrimination filed with the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency’s Cleveland Field Office announced. During the EEOC’s investigation, the agency found that Pearl …

Insurance Journal | July 1, 2024

AM Best Ratings Unchanged for Accredited, Onex’s New Program Management Unit

AM Best confirms that the financial strength rating and long-term issuer credit ratings of Accredited’s subsidiary companies remain unchanged following their acquisition by Onex Partners from R&Q Insurance Holdings Ltd. — a deal that was completed on June 28. AM …

Insurance Journal | July 1, 2024

Markets/Coverages: Resilience Doubles Cyber Limits to $20M

Resilience said it doubled the cyber insurance limits it can offer to clients in the U.S. to $20 million per client. This announcement follows the launch of new features and capabilities that enable enterprises to continuously manage the mitigation and …

Insurance Journal | July 1, 2024

People Moves: HDI Global Canada Promotes Navarrete to Managing Director; AXA XL Appoints Kuklinski as Regional Mgr. for Northern Europe, Germany’s Country Mgr.

This edition of International People Moves details appointments at HDI Global and AXA XL. A summary of these new hires follows here. HDI Global Canada Promotes Navarrete to Managing Director HDI Global Canada announced the appointment of Klaus Navarrete as …

Insurance Journal | July 1, 2024

Detroit Agrees to $300K Settlement in Wrongful Shoplifting Accusation Case

DETROIT (AP) — The city of Detroit has agreed to pay $300,000 to a man who was wrongly accused of shoplifting and also change how police use facial recognition technology to solve crimes. The conditions are part of a lawsuit …

Insurance Journal | July 1, 2024

Arthur K. Gallagher & Co. Acquires Texas’ Zayla Partners

Arthur J. Gallagher & Co. announced the acquisition of Katy, Texas-based Zayla Partners, LLC (Zayla). Terms of the transaction were not disclosed. Zayla is an executive compensation strategy firm that serves clients across a variety of sizes and industries. Chris …

Insurance Journal | July 1, 2024

Maui Officials Highlight Steps Toward Rebuilding As 1-Year Mark of Deadly Wildfire Approaches

Nearly a year after wind-whipped flames raced through Kim Ball’s Hawaii community, the empty lot where his house once stood is a symbol of some of the progress being made toward rebuilding after the deadliest U.S. wildfire in more than …