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Top Law Firms in US Opioid Lawsuits to Get Hundreds of Millions in Fees
Insurance Journal | June 10, 2024
Top Law Firms in US Opioid Lawsuits to Get Hundreds of Millions in Fees
A court-appointed panel on Friday recommended how to divvy up a pool of $2.13 billion in legal fees from nationwide drug industry settlements over the U.S. opioid crisis, with top firms set to receive hundreds of millions of dollars. The …
Catastrophe Bond Sales Soar as Markets Brace for Unusually Active Hurricane Season
Insurance Journal | June 10, 2024
Catastrophe Bond Sales Soar as Markets Brace for Unusually Active Hurricane Season
Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the …
South Carolina DOI Sets Another Data Call on Liability Market Issues in the State
Insurance Journal | June 10, 2024
South Carolina DOI Sets Another Data Call on Liability Market Issues in the State
The South Carolina Department of Insurance is again requesting carrier data on the health of liability insurance markets in the state. “As you are aware, South Carolina and other states have seen liability markets harden significantly over the past several …
Disney to Invest $17B in Florida Parks Now That Fight with DeSantis Has Cooled
Insurance Journal | June 10, 2024
Disney to Invest $17B in Florida Parks Now That Fight with DeSantis Has Cooled
ORLANDO, Fla. (AP) — Months after Disney and Gov. Ron DeSantis’ appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement that could result in the company investing up to $17 billion into …
Colorado Woman Handcuffed in Police Car Hit by Train Receives $8.5M Settlement
Insurance Journal | June 7, 2024
Colorado Woman Handcuffed in Police Car Hit by Train Receives $8.5M Settlement
A Colorado woman who was seriously injured when a freight train hit the parked police vehicle in which she sat handcuffed has reached an $8.5 million settlement, a lawyer representing two of the involved police officers said. The city of …
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Insurance Journal | June 7, 2024
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from higher inflation and supply …
Carolina Insurance Agent Charged With Forging Life Insurance Policies on 16 People
Insurance Journal | June 7, 2024
Carolina Insurance Agent Charged With Forging Life Insurance Policies on 16 People
North Carolina authorities have charged a Battleboro insurance agent with 74 counts after they said he forged life insurance applications for 16 people. Jonathan Michael Vlasak, 35, a licensed producer qualified to sell property, casualty, life and accident insurance, took …
Louisiana’s Temple Meets With Insurers Ahead of Potentially Active Hurricane Season
Insurance Journal | June 7, 2024
Louisiana’s Temple Meets With Insurers Ahead of Potentially Active Hurricane Season
Louisiana Insurance Commissioner Tim Temple recently met with 20 property and casualty insurers ahead of this year’s Atlantic Hurricane Season to make sure insurers are prepared to handle claims following a hurricane or other catastrophic event. “I thought this meeting …
Louisiana Lawmakers Pass Auto Insurance Reform Bills to Boost Market Competition
Insurance Journal | May 31, 2024
Louisiana Lawmakers Pass Auto Insurance Reform Bills to Boost Market Competition
Louisiana lawmakers passed a series of auto insurance reform bills that aim to bring availability and competition to the market by cutting down on excessive verdicts and settlements. Legislators passed four bills endorsed by Insurance Commissioner Tim Temple that he …
Tennessee, Kentucky Tobacco Farmer Sentenced for Second Crop Insurance Fraud
Insurance Journal | May 31, 2024
Tennessee, Kentucky Tobacco Farmer Sentenced for Second Crop Insurance Fraud
A Kentucky tobacco farmer has been sentenced to more than three years in prison after pleading guilty to crop insurance fraud, eight years after he was convicted of similar crimes. David Manion, 61, who resides in Lafayette, Tennessee, and owns …