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Category: Insurance Journal

Product Recalls Hit Four-Year High in First Quarter 2023: Sedgwick
Insurance Journal | May 30, 2023
Product Recalls Hit Four-Year High in First Quarter 2023: Sedgwick
Data from the first quarter of 2023 shows that the number of product recalls in the U.S. increased 14.2% from the previous quarter. According to Sedgwick brand protection’s latest U.S. product recall index report — which analyzes recall data from …
Lightning May Not Have Struck at All: Georgia Man Wanted for False Insurance Claims
Insurance Journal | May 30, 2023
Lightning May Not Have Struck at All: Georgia Man Wanted for False Insurance Claims
Authorities were searching this week for a Georgia man who falsely claimed a lightning strike caused more than $18,000 in damage to his property, Georgia Insurance Commissioner John King said in a bulletin. Salvatore Arzillo, 52, of Buford, Georgia, filed …
South Carolina Firefighter Dies in Apartment Blaze
Insurance Journal | May 30, 2023
South Carolina Firefighter Dies in Apartment Blaze
A 25-year-old firefighter from South Carolina has died after part of a burning apartment building collapsed while firefighters were inside. Authorities said James Muller of the Irmo Fire District died Friday while he was providing aid during the response to …
Marsh McLennan’s Guy Carpenter to Buy Israeli Reinsurance Broker, Re Solutions
Insurance Journal | May 30, 2023
Marsh McLennan’s Guy Carpenter to Buy Israeli Reinsurance Broker, Re Solutions
Guy Carpenter, the reinsurance specialist business of Marsh McLennan, announced it will acquire Re Solutions, the leading independent reinsurance broker in Israel. Terms of the transaction, which is expected to close later this quarter, were not disclosed. Founded in 2010, …
Taiwan Rushes to Prevent China From Cutting Internet, Phones
Insurance Journal | May 30, 2023
Taiwan Rushes to Prevent China From Cutting Internet, Phones
Buffeted by earthquakes and the potential of conflict with China, Taiwan’s leaders want to accelerate plans to make the island more resilient to communications breakdowns and direct attacks on its digital infrastructure. It could be an impossible task. Audrey Tang, …
Japan’s Largest Insurer Joins Defectors From Climate Group
Insurance Journal | May 30, 2023
Japan’s Largest Insurer Joins Defectors From Climate Group
Tokio Marine Holdings Inc., Japan’s largest insurer by market value, is withdrawing from the Net Zero Insurance Alliance, the latest in a wave of defections from the world’s biggest climate alliance for insurers. The company declined to give a reason …
Germany’s Talanx Buys Liberty Mutual’s Latin American Business for 1.38 Billion Euros
Insurance Journal | May 30, 2023
Germany’s Talanx Buys Liberty Mutual’s Latin American Business for 1.38 Billion Euros
Germany’s Talanx said on Saturday it had acquired Liberty Mutual Insurance’s Latin America business for about 1.38 billion euros ($1.52 billion), through its subsidiary HDI International. “The acquisition encompasses Liberty’s retail business in Brazil, Chile, Colombia and Ecuador,” Talanx said, …
Tipster On Ericsson Won SEC’s Largest Ever $279M Whistleblower Award
Insurance Journal | May 30, 2023
Tipster On Ericsson Won SEC’s Largest Ever $279M Whistleblower Award
The record $279 million whistleblower award issued by the U.S. Securities and Exchange Commission earlier this month stemmed from a bribery case against Swedish telecommunications company Ericsson, the Wall Street Journal reported on Friday. The award from the regulator’s cash-for-tip …
Jury Says Google Owes Sonos $32.5M in Smart-Speaker Patent Case
Insurance Journal | May 30, 2023
Jury Says Google Owes Sonos $32.5M in Smart-Speaker Patent Case
Alphabet Inc’s Google must pay $32.5 million in damages for infringing one of smart-speaker maker Sonos Inc’s patents in its wireless audio devices, a San Francisco federal jury decided on Friday. The case is part of a sprawling intellectual property …
State Farm to Cease Accepting New Applications for Business and Personal Lines P/C in California
Insurance Journal | May 27, 2023
State Farm to Cease Accepting New Applications for Business and Personal Lines P/C in California
An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and higher construction costs. The American Property …