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Category: Insurance Journal

Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re
Insurance Journal | January 10, 2023
Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re
Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more intense and frequent. …
People Moves: McGriff Appoints 2 Leaders for Texas Operations
Insurance Journal | January 9, 2023
People Moves: McGriff Appoints 2 Leaders for Texas Operations
McGriff Appoints Two New Leaders for Texas Operations McGriff, headquartered in Charlotte, North Carolina, has hired two insurance industry veterans for new leadership positions in its Texas operations. David Garrett joins McGriff as executive vice president and Texas practice leader …
Oil Worker Dies After Falling Into North Dakota Pit
Insurance Journal | January 9, 2023
Oil Worker Dies After Falling Into North Dakota Pit
BISMARCK, N.D. (AP) – A worker from Texas is dead after falling at an oil rig site in North Dakota. Daniel Navarrete, 42, of New Braunfels, Texas, fell through an open hatch Thursday in a pit at a Nabors Industries …
Wisconsin GOP Lawmakers Move Closer to Legalizing Medical Marijuana
Insurance Journal | January 9, 2023
Wisconsin GOP Lawmakers Move Closer to Legalizing Medical Marijuana
MADISON, Wis. (AP) – Republican lawmakers who control the Wisconsin Legislature are moving closer to supporting the legalization of medical marijuana, after years of fighting efforts to loosen the state’s laws, the GOP leader of the state Senate said Thursday. …
Texas’ Combined Agents of America Adds 24 Partner Agencies
Insurance Journal | January 9, 2023
Texas’ Combined Agents of America Adds 24 Partner Agencies
Combined Agents of America (CAA) – a privately held aggregator group based in Austin, Texas – announced the additions of 23 new partner agencies to the organization. The group will now be comprised of 94 agencies across nine states and …
Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Insurance Journal | December 30, 2022
Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for liquefied natural gas (LNG) vessels, industry sources said on Friday. Japan’s …
Global Natural Catastrophe Insurance Losses Estimated at $112B in 2022: Carpenter
Insurance Journal | December 30, 2022
Global Natural Catastrophe Insurance Losses Estimated at $112B in 2022: Carpenter
Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. Flood and hail in Europe, Australian …
Highway Fatalities Top 170 in Maine
Insurance Journal | December 29, 2022
Highway Fatalities Top 170 in Maine
Maine is likely to finish the year with its highest number of highway fatalities in 15 years, as a pandemic trend of speeding and reckless driving continues across the state, officials said. The unofficial number of highway deaths stood at …
Pennsylvania Helps Buffalo Clear Snow; State Acts on Insurance, Banks, Flood Risk
Insurance Journal | December 29, 2022
Pennsylvania Helps Buffalo Clear Snow; State Acts on Insurance, Banks, Flood Risk
Like a good neighbor, the state of Pennsylvania is sending equipment and personnel to help neighboring Buffalo, New York, dig out from the recent deadly winter storm that dumped more than four feet of snow in the region and has …
Ohio Supreme Court: Ransomware Did Not Cause Direct Physical Loss
Insurance Journal | December 29, 2022
Ohio Supreme Court: Ransomware Did Not Cause Direct Physical Loss
A business owner’s insurance policy did not provide coverage for software damaged by a ransomware attack because there was no direct physical damage or loss, the Ohio Supreme Court ruled. “Computer software cannot experience ‘direct physical loss or physical damage’ …