Insurance Journal – Page 153 – Ben Few & Company, Inc.

Insurance Journal | June 9, 2023

New Orleans Steamboat Company Fined $100K for Violating Clean Water Act

The New Orleans Steamboat Company (NOSC) was charged on May 26, 2023 with violating the Clean Water Act (“CWA”) in connection with a discharge of excess ballast material into the Industrial Canal in New Orleans in 2019, according to the …

Insurance Journal | June 9, 2023

Coinbase Suit May Finally Send Crypto Debate to Supreme Court

The SEC’s new lawsuit against Coinbase Global Inc. appears best positioned among cryptocurrency cases to let the US Supreme Court finally decide if digital assets count as securities. The crypto tokens traded by Coinbase users should be treated as unregistered …

Insurance Journal | June 1, 2023

Triple-Whammy of Cyclones, a 1-in-200-Year Event, Drove Italy’s Flooding: Scientists

A rare, triple-whammy of cyclones drove the deadly flooding that devastated much of northern Italy this month, but scientists said Wednesday that climate change doesn’t seem to be to blame for the intense rainfall. Using computer simulations and past observations, …

Insurance Journal | June 1, 2023

Climate Change, Wildfire Risk and State Farm’s California Decision

Several reasons were given within State Farm’s announcement last week the carrier was no longer writing new personal or business property/casualty policies in California – including a challenging reinsurance market, increased risks and historic increases in construction costs outpacing inflation. …

Insurance Journal | June 1, 2023

People Moves: Gallagher Re Appoints Brace of Exec Appointments for N. America, Brazil and China

Global reinsurance broker Gallagher Re announced the appointment of Linda Johnson as vice chairperson for its North American team, Daniel Veiga as CEO of Gallagher Re Brazil, Treaty Operation, Jia Lou as CEO of Mainland China & Hong Kong, with …

Insurance Journal | June 1, 2023

World Insurance Associates Acquires Michigan’s Morris Insurance Group

World Insurance Associates LLC announced that it acquired the business of Morris Insurance Group, Inc. of Clinton Township and Rochester, Michigan on April 1, 2023. Terms of the transaction were not disclosed. Morris was founded over 60 years ago, and …

Insurance Journal | June 1, 2023

Minnesota Governor Signs Bill Legalizing Recreational Marijuana

ST. PAUL, Minnesota (AP) – Surrounded by dozens of cheering people in green clothes, Minnesota Democratic Gov. Tim Walz signed a bill Tuesday to legalize recreational marijuana for people over the age of 21 starting in August, making Minnesota the …

Insurance Journal | June 1, 2023

1 Killed in Boiler Explosion at Southeastern Texas Power Plant

FRANKLIN, Texas (AP) – One person was killed when a boiler exploded at a southeastern Texas power plant Wednesday morning, according to a spokesperson for Dallas-based Luminant. “A contractor was fatally injured” in the blast about 8 a.m. at the …

Insurance Journal | June 1, 2023

Massachusetts Agency Owner Accused of Stealing Workers’ Compensation Premiums

The owner of a Gloucester, Massachusetts insurance agency has been indicted and arraigned in connection with an alleged embezzlement scheme that left client companies uninsured. The scheme included the agent transferring ownership of her agency to a family member after …

Insurance Journal | June 1, 2023

About 33 Million U.S. Homes at Risk of Hurricane-Force Winds: CoreLogic

According to an analysis by CoreLogic, about 33 million U.S. homes with a combined reconstruction cost value of $11.6 trillion are at risk of hurricane-force winds. CoreLogic released its 2023 Hurricane Risk Report to mark the start of the Atlantic …