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Category: Insurance Journal

NCCI Symposium: Strong Profits for Workers’ Comp, but Medical Still a Concern
Insurance Journal | May 10, 2023
NCCI Symposium: Strong Profits for Workers’ Comp, but Medical Still a Concern
While the property/casualty insurance industry overall may have seen a slight loss in profitability in 2022, workers’ compensation continues to be the most profitable line, with a “very healthy” nationwide reserve redundancy level of $17 billion. “The system is healthy …
Guyana’s Environmental Agency Appeals Court Decision Against Exxon
Insurance Journal | May 9, 2023
Guyana’s Environmental Agency Appeals Court Decision Against Exxon
Guyana’s environmental regulator on Tuesday appealed a court decision that last week declared that the agency and Exxon Mobil unit breached oil-spill insurance obligations for the company’s first offshore project in the country. Guyana’s High Court Justice Sandil Kissoon said …
EU Set for Tough Talks After Lawmakers Back Stricter Methane Rules
Insurance Journal | May 9, 2023
EU Set for Tough Talks After Lawmakers Back Stricter Methane Rules
The European Parliament voted on Tuesday in favor of rules that would force companies selling oil and gas in Europe to cut their methane emissions, setting itself up for tough negotiations with EU countries seeking weaker limits on the potent …
People Moves: AXIS Appoints Gregory Head of Global Markets, McKenna Head of North America
Insurance Journal | May 9, 2023
People Moves: AXIS Appoints Gregory Head of Global Markets, McKenna Head of North America
AXIS Capital Holdings Limited announced the following appointments within its specialty insurance business: Mark Gregory as head of global markets and Michael J. McKenna as head of North America. The newly created leadership positions will report directly to Vince Tizzio, …
Alliant Insurance Foundation Announces Education Partnership With Louisiana’s Southern University
Insurance Journal | May 9, 2023
Alliant Insurance Foundation Announces Education Partnership With Louisiana’s Southern University
The Alliant Insurance Foundation, in partnership with Southern University, the Louisiana Department of Insurance, and the Spencer Educational Foundation, has launched its first initiative, funding a risk management and insurance degree program at Southern University. Working in conjunction with the …
Mississippi River Continues to Rise in Iowa, Illinois
Insurance Journal | May 1, 2023
Mississippi River Continues to Rise in Iowa, Illinois
DAVENPORT, Iowa (AP) – People living along the Mississippi River watched warily Sunday as water levels rose in southeast Iowa and northwest Illinois, awaiting spring crests as floodwaters began to slowly recede and reveal damage in areas further north. The …
Washington Commissioner Confirms He Will Not Seek Reelection
Insurance Journal | May 1, 2023
Washington Commissioner Confirms He Will Not Seek Reelection
Washington Insurance Commissioner Mike Kreidler sent an email to agency staff on Monday confirming that he will not seek reelection. The nation’s longest currently serving commissioner has for some time said he was unlikely to run for office again. “Serving …
Tornado Hits Virginia Beach; As Many as 100 Homes Could be Damaged
Insurance Journal | May 1, 2023
Tornado Hits Virginia Beach; As Many as 100 Homes Could be Damaged
The Virginia Beach community in southeastern Virginia was hit by a tornado on Sunday, April 30, just minutes before 6:00 pm. City Manager Patrick Duhaney declared a state of emergency. Officials said there were no reported injuries but the tornado …
Former Business Partners of McClenny Moseley File 2nd Lawsuit
Insurance Journal | May 1, 2023
Former Business Partners of McClenny Moseley File 2nd Lawsuit
A company that provided hurricane-damage estimates to embattled McClenny Moseley & Associates says in a lawsuit filed Thursday that the law firm owes it nearly $10 million. Those unpaid invoices allegedly owed to Global Estimating Services come on top of …
Court Ends Challenge to 2021 Gulf Oil and Gas Lease Sale
Insurance Journal | May 1, 2023
Court Ends Challenge to 2021 Gulf Oil and Gas Lease Sale
NEW ORLEANS (AP) – A lawsuit by environmentalists seeking to block the 2021 sale of Gulf of Mexico oil and gas leases auctioned off by the federal government was rejected by a federal appeals court in Washington. Energy companies including …