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Category: Insurance Journal

Auto Insurance Shopping Rises as Consumers Seek Better Rate
Insurance Journal | April 20, 2023
Auto Insurance Shopping Rises as Consumers Seek Better Rate
Auto insurers have been forthcoming in their desire to achieve rate to match increases in claims costs and, so far in 2023, consumers are not standing by. According to a quarterly report from J.D. Power, in collaboration with TransUnion, the …
Plaintiffs ‘Shocked’ as Judge Ends Hartford Police Consent Decree Imposed in 1973
Insurance Journal | April 20, 2023
Plaintiffs ‘Shocked’ as Judge Ends Hartford Police Consent Decree Imposed in 1973
A judge has ended the nearly 50 years of federal oversight of police in Hartford, Connecticut, despite continued concerns the department still has not hired enough minority officers to reflect the city’s large Black and Hispanic populations. U.S. District Judge …
People Moves: Landy Agency Hires McNamara for Marketing/Sales; XPT: S&H Adds March, Specialist Adds Martincich
Insurance Journal | April 20, 2023
People Moves: Landy Agency Hires McNamara for Marketing/Sales; XPT: S&H Adds March, Specialist Adds Martincich
Herbert H. Landy Agency Hires McNamara as Marketing and Sales VP Herbert H. Landy Insurance Agency has hired Stephanie McNamara as national marketing and sales vice president. McNamara brings over 30 years of experience in the insurance industry to the …
Allstate Estimates $1.7 Billion in Q1 Catastrophe Losses
Insurance Journal | April 20, 2023
Allstate Estimates $1.7 Billion in Q1 Catastrophe Losses
Allstate Corp. said pre-tax catastrophe losses for the first quarter are expected to be about $1.7 billion, with about $1.3 billion occurring during the month of March. Losses in March were attributed to 10 events with 75% of losses related …
Workers’ Comp Takes Bite Out of Employee’s Right to Sue Third Party: Pennsylvania High Court
Insurance Journal | April 20, 2023
Workers’ Comp Takes Bite Out of Employee’s Right to Sue Third Party: Pennsylvania High Court
A Pennsylvania employer cannot be sued for blocking an employee from suing the third party responsible for her workplace injury, the state’s high court has ruled in reversing two lower courts. In a case involving an employee who was bitten …
Tennessee Lawmakers Move to Shield Gun Makers From Lawsuits After Shooting
Insurance Journal | April 20, 2023
Tennessee Lawmakers Move to Shield Gun Makers From Lawsuits After Shooting
In the wake of a deadly school shooting last month, Republican lawmakers in Tennessee awarded final passage Tuesday to a proposal that would further protect gun and ammunition dealers, manufacturers and sellers against lawsuits. The Senate’s 19-9 vote sends the …
Insured Losses from Mississippi Tornado Nearing $100 Million
Insurance Journal | April 20, 2023
Insured Losses from Mississippi Tornado Nearing $100 Million
Insurance losses from the March tornado that carved a path of destruction through parts of Mississippi are approaching $100 million, and uninsured losses will likely exceed that number, the state insurance department announced Tuesday. The damage is particularly severe in …
Gallagher Launches Brokerage in Japan, Led by 2 Former Marsh Execs
Insurance Journal | April 20, 2023
Gallagher Launches Brokerage in Japan, Led by 2 Former Marsh Execs
Gallagher has launched an insurance brokerage in Japan, which specializes in insurance solutions to both commercial clients and wholesale facultative insurance to other brokers. The Japanese unit is led by two former Marsh executives: Takuya Aibe and Tetsuro Nakazawa. Previously …
Cyber Firm Group-IB Finalizes Exit From Russia to Spur Global Expansion Ambitions
Insurance Journal | April 20, 2023
Cyber Firm Group-IB Finalizes Exit From Russia to Spur Global Expansion Ambitions
Cybersecurity company Group-IB has finalized its exit from Russia, the group said on Thursday, cutting ties with its original market in an effort to spur its global expansion ambitions. Punitive Western sanctions against Moscow since it sent tens of thousands …
BMS to Acquire Australian Broker Western United Financial Services
Insurance Journal | April 20, 2023
BMS to Acquire Australian Broker Western United Financial Services
BMS Group, the London-based independent specialist re/insurance broker, has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have not been disclosed. WUFS was founded in 2002 and offers …