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Category: Insurance Journal

South Carolina DOI Sees $10 Million to Policyholders After Complaints about Insurers
Insurance Journal | January 10, 2023
South Carolina DOI Sees $10 Million to Policyholders After Complaints about Insurers
The South Carolina Department of Insurance in 2022 returned $10.3 million to policyholders who filed complaints about insurance companies, the department said in a bulletin Tuesday. The department resolved some 4,500 complaints last year, with an average payment of $2,294. …
$2 Million Now Available for Tennessee Rescue Squad Safety and Response Gear
Insurance Journal | January 10, 2023
$2 Million Now Available for Tennessee Rescue Squad Safety and Response Gear
Rescue squads in Tennessee can now apply for state grants for equipment used in emergency response and for equipment used to protect rescue workers. The Tennessee Department of Commerce and Insurance announced this week that $2 million is now available …
Florida Rodeo Rider Dies After Being Thrown From Horse
Insurance Journal | January 10, 2023
Florida Rodeo Rider Dies After Being Thrown From Horse
A woman died after she was thrown from a horse at a rodeo in the Florida panhandle, authorities said Sunday. The 56-year-old woman had just finished competing in a barrel race at the Baker Rodeo on Saturday when she was …
Environmental, Social and Governance Credit Risks to Rise in 2023: Moody’s
Insurance Journal | January 10, 2023
Environmental, Social and Governance Credit Risks to Rise in 2023: Moody’s
Economic and political turbulence caused by the COVID-19 pandemic and Russia’s invasion of Ukraine will be likely to heighten environmental, social and governance (ESG) credit risks this year, credit rating agency Moody’s said on Monday. The cost-of-living crisis stemming from …
Ardonagh Specialty Joins Global Broking Network, Brokerslink
Insurance Journal | January 10, 2023
Ardonagh Specialty Joins Global Broking Network, Brokerslink
Brokerslink has added Ardonagh Specialty to its international network. Three businesses within Ardonagh Specialty – Ed Broking, Ed Bermuda and Piiq Risk Partners – are existing Brokerslink partners, and remain in the network. The new move brings in the entire …
Australia Proposes Plan to Make Biggest Polluters Slash Emissions
Insurance Journal | January 10, 2023
Australia Proposes Plan to Make Biggest Polluters Slash Emissions
Australia’s Labor government proposed on Tuesday to make the country’s biggest polluters slash emissions by 30% over the next seven years, with some leeway for trade-exposed industries, such as aluminum and liquefied natural gas (LNG). The government also announced it …
UK Financial Services Firms Lead Europe in Push to Shrink Board Gender Gap
Insurance Journal | January 10, 2023
UK Financial Services Firms Lead Europe in Push to Shrink Board Gender Gap
UK finance firms now have a higher proportion of women on their boards than their European counterparts, a rare boost for the City of London’s attempts to improve the industry’s diversity. Women made up 58% of new board appointments at …
New Louisiana Laws Require Hurricane Mediation Program, Catastrophe Response Plan
Insurance Journal | January 10, 2023
New Louisiana Laws Require Hurricane Mediation Program, Catastrophe Response Plan
Louisiana lawmakers passed several bills last legislative session in response to insurers’ handling of recent natural disasters, five of which went into effect Jan. 1, 2023. The legislation resulted from a shaken homeowners insurance market that experienced eight insurers leave …
Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Insurance Journal | January 10, 2023
Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Insurance brokerage USI is forecasting that half of 32 commercial insurance product lines analyzed will experience softer pricing in the first half of 2023—including a predicted “buyer’s market” for directors and officers liability with some caveats. Comparing USI’s forecasts for …
Root Investigating at Least $9.5M Unauthorized Payments by Former Employee
Insurance Journal | January 10, 2023
Root Investigating at Least $9.5M Unauthorized Payments by Former Employee
Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, is conducting an internal investigation into a series of payments made without prior disclosure to the company’s management by a former senior marketing employee last year. The transactions …