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Category: Insurance Journal

D&O Pricing Falls 14.7% in Q3, Breaking 17-Quarters of Pricing Increases: Aon
Insurance Journal | November 10, 2022
D&O Pricing Falls 14.7% in Q3, Breaking 17-Quarters of Pricing Increases: Aon
Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey. Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to 1.57 from 1.96 in the prior-year quarter, …
Iowa Voters Add Gun Rights to Constitution
Insurance Journal | November 10, 2022
Iowa Voters Add Gun Rights to Constitution
DES MOINES, Iowa (AP) – Iowans voted Tuesday to add a right to keep and bear arms into the state constitution, a move that will make it more difficult to pass gun restrictions and easier to strike down existing gun …
No Radioactive Contamination Found at Missouri School
Insurance Journal | November 10, 2022
No Radioactive Contamination Found at Missouri School
FLORISSANT, Mo. (AP) – Testing by the U.S. Army Corps of Engineers found no radioactive contamination at a Missouri school that was shut down last month amid fears that nuclear material from a contaminated creek nearby had made its way …
Novatae Risk Group Acquires MarketScout; Kerr Named CEO
Insurance Journal | November 10, 2022
Novatae Risk Group Acquires MarketScout; Kerr Named CEO
Managing general agent Novatae Risk Group said it acquired fellow MGA, MarketScout Corp., on Nov 1. Terms of the transaction were not disclosed. Richard Kerr, founder and CEO of Dallas-based MarketScout, was named CEO of Novatae, effective immediately. Steve Cook, …
Insurers Say ‘Bazooka’ of Bogus Boys Scouts Claims is Abuse of Bankruptcy System
Insurance Journal | November 10, 2022
Insurers Say ‘Bazooka’ of Bogus Boys Scouts Claims is Abuse of Bankruptcy System
A group of insurers – including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers – are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy reorganization plan to allow the organization to settle tens of …
Chubb Agrees to Defend Basketball Hall of Fame Against Unlawful Funding Claims
Insurance Journal | November 10, 2022
Chubb Agrees to Defend Basketball Hall of Fame Against Unlawful Funding Claims
The Basketball Hall of Fame has succeeded in getting Chubb subsidiary Federal Insurance Co. to defend it in a case accusing the museum of unlawfully securing funds for renovations to its facility. Documents filed in the U.S. District Court for …
Prosecutors Oppose Release of Alleged Restoration Extortion Gang Leader
Insurance Journal | November 10, 2022
Prosecutors Oppose Release of Alleged Restoration Extortion Gang Leader
The alleged leader of a gangland extortion ring that took control of the New York City fire restoration industry can be heard on recordings threatening to kill competitors and ordering an attack on a rival firm’s employee, federal prosecutors say …
Suspect Arrested in Connection With 7 Fires Across Mississippi’s Capital
Insurance Journal | November 10, 2022
Suspect Arrested in Connection With 7 Fires Across Mississippi’s Capital
JACKSON, Miss. (AP) — Authorities have arrested a suspect in connection with seven fires set across Mississippi’s capital city early Tuesday. At least two of the buildings set ablaze in Jackson were churches; one was burned to the ground. Another …
Tech Update: Risk Solved, expert.ai Partner to Offer Language-to-Data Solution for Insurers; Zurich Insurance Launches Global API Marketplace
Insurance Journal | November 10, 2022
Tech Update: Risk Solved, expert.ai Partner to Offer Language-to-Data Solution for Insurers; Zurich Insurance Launches Global API Marketplace
Risk Solved, expert.ai Partner to Offer for Language-to-Data Solution for Insurers Risk Solved Ltd, a global risk management platform provider, and expert.ai, an artificial intelligence (AI) specialist in natural language understanding, have announced a partnership to deliver a language-to-data solution …
FTC Aims to Clamp Down on Companies Engaged in Unfair Competition
Insurance Journal | November 10, 2022
FTC Aims to Clamp Down on Companies Engaged in Unfair Competition
The US Federal Trade Commission plans to make wider use of its 1914 founding statute to police anticompetitive behavior by companies in the internet age. The Democratic-led commission on Thursday issued a new policy statement that empowers the agency to …