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Category: Insurance Journal

Snow Storm Hits Michigan’s Upper Peninsula, Causing Power Outages
Insurance Journal | October 20, 2022
Snow Storm Hits Michigan’s Upper Peninsula, Causing Power Outages
It’s beginning to look a lot like winter in Michigan’s Upper Peninsula, with snow falling and high winds toppling trees and causing power outages. MLive reported that as much as 18 inches (45 centimeters) of snow fell as of Tuesday …
People Moves: Iroquois Adds Gonzalez in Texas; Lucas to Lead Platinum Construction; Distinguished Programs Hires Fulton
Insurance Journal | October 20, 2022
People Moves: Iroquois Adds Gonzalez in Texas; Lucas to Lead Platinum Construction; Distinguished Programs Hires Fulton
Iroquois adds Regional Manager Gonzalez in Texas Jo Gonzalez joins Iroquois as a regional manager for Texas, where she will further expand Iroquois’ presence by partnering with independent insurance agencies and select carriers. Iroquois Texas is part of Allegany, New …
CEOs of Travelers, CNA Elected APCIA Chair, Chair-Elect
Insurance Journal | October 20, 2022
CEOs of Travelers, CNA Elected APCIA Chair, Chair-Elect
Alan Schnitzer, chairman and CEO of The Travelers Companies, has been elected chair of the board of directors of the American Property Casualty Insurance Association (APCIA). Dino E. Robusto, chairman and CEO of CNA Financial Corporation was elected chair-elect at …
‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto
Insurance Journal | October 20, 2022
‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto
Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking. After being plagued for years by hackers seeking …
Florida CFO Calls for Outright Ban on Assignments of Benefits, Limits on Public Adjusters
Insurance Journal | October 20, 2022
Florida CFO Calls for Outright Ban on Assignments of Benefits, Limits on Public Adjusters
In the wake of Hurricane Ian, Florida’s chief financial officer has taken a hard line on insurance claims litigation, calling for an outright ban on assignments-of-benefits agreements. At a press conference in Cape Coral, hit hard by the hurricane this …
The Hanover: $28M Loss From Ian as Overall Cat Losses Exceed Assumption
Insurance Journal | October 20, 2022
The Hanover: $28M Loss From Ian as Overall Cat Losses Exceed Assumption
The Hanover Insurance Group on Oct. 20 released an estimate of third-quarter over catastrophe and Hurricane Ian-related losses. Q3 losses are expected to be about $90 million, pre tax. Estimated losses from Ian will be about $28 million, mostly from …
As Homeowners Rebuild After Ian, a Cooling New Housing Market Drops Material Costs
Insurance Journal | October 20, 2022
As Homeowners Rebuild After Ian, a Cooling New Housing Market Drops Material Costs
If Hurricane Ian would have made landfall in Florida, say, six months ago, the costs of reconstruction could have been even higher than the already staggering estimates now coming from the Sunshine State. Inflation is indeed set to bump up …
Report: Hurricane Ian Farm Loss Could Reach $1.56 Billion
Insurance Journal | October 20, 2022
Report: Hurricane Ian Farm Loss Could Reach $1.56 Billion
Agriculture losses in Florida from Hurricane Ian’s high winds and drenching rains could reach $1.56 billion, with citrus, cattle, vegetable and melon operations among the hardest hit, the University of Florida reported Tuesday in a preliminary estimate. The school’s Institute …
Worker Admits Dumping Industrial Waste into Jackson, Mississippi Sewer System
Insurance Journal | October 20, 2022
Worker Admits Dumping Industrial Waste into Jackson, Mississippi Sewer System
An employee of a Mississippi wastewater hauling company pleaded guilty in federal court Tuesday for his part in illegally discharging industrial waste into the capital city’s sewer system. William Roberts, an employee of Partridge-Sibley Industrial Services, admitted to supervising the …
Maine’s ‘Cabin Masters’ Settles Lead Safety Claims
Insurance Journal | October 20, 2022
Maine’s ‘Cabin Masters’ Settles Lead Safety Claims
The company featured on the cable TV show “Maine Cabin Masters” has settled claims that it violated lead safety and exposure rules on some of its renovations. The settlement reached by the U.S. Environmental Protection Agency and Kennebec Property Services …