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Category: Insurance Journal

Contractors Insurance Alert: Construction Defect Lawsuits Rising
Insurance Journal | March 20, 2025
Contractors Insurance Alert: Construction Defect Lawsuits Rising
A new report identifying commercial litigation waves likely to pick up steam in 2025 highlights one particular theme that could further lengthen the tail of general liability claims for insurers writing policies for contractors and builders. The 2025 “Commercial Litigation …
Third Time’s a Charm? Insurance Agent Is Charged Again.
Insurance Journal | March 20, 2025
Third Time’s a Charm? Insurance Agent Is Charged Again.
A grand jury for Baltimore County has handed down a third indictment charging Michael C. Okolo, of Parkville, Maryland, with theft of property valued at $100,000 or more. This is the third time since September 2024 that Okolo has been …
Kentucky Allows Unlicensed Adjusters in Three Counties After Storms Batter State
Insurance Journal | March 20, 2025
Kentucky Allows Unlicensed Adjusters in Three Counties After Storms Batter State
Unlicensed adjusters can work in three Kentucky counties once they register on temporary basis, the state’s insurance commissioner decreed after wind events caused serious damage in the northern part of the state. “The commissioner is allowing temporary registration for unlicensed, …
Alabama Lawmakers Approve Ban on Machine-Gun Conversion Devices
Insurance Journal | March 20, 2025
Alabama Lawmakers Approve Ban on Machine-Gun Conversion Devices
MONTGOMERY, Ala. (AP) — Alabama lawmakers on Tuesday approved a ban on Glock switches and other conversion devices that convert semi-automatic weapons into machine guns, after a deadly year that included multiple mass shootings. A bipartisan coalition pushed the Alabama …
Transportation Firm Faces Fines, Remediation Costs for Connecticut Oil Tanker Spill
Insurance Journal | March 20, 2025
Transportation Firm Faces Fines, Remediation Costs for Connecticut Oil Tanker Spill
Soundview Transportation faces a series of penalties and payments totaling $350,000 over a November 2022 oil tanker accident in Norfolk, Connnecticut, announced state Attorney General William Tong. In addition to the penalties, Soundview has take responsibility for the ongoing remediation …
Hyundai, Kia’s Anti-Theft Measures Fuel Steep Dip in US Vehicle Thefts
Insurance Journal | March 20, 2025
Hyundai, Kia’s Anti-Theft Measures Fuel Steep Dip in US Vehicle Thefts
Vehicle thefts in the United States recorded their biggest yearly drop in four decades as automakers, mainly Hyundai and Kia, bolstered anti-theft measures, while easing supply chain constraints made stealing vehicles for parts less lucrative. Hyundai and Kia cars topped …
Share Offering for Brazil’s Caixa Seguridade Totals $216 Million
Insurance Journal | March 20, 2025
Share Offering for Brazil’s Caixa Seguridade Totals $216 Million
A secondary share offering for Brazilian insurance firm Caixa Seguridade was priced at 14.75 reais per share, the company said in a securities filing on Thursday, with the deal totaling about 1.22 billion reais ($216 million). The offering was made …
Allianz, Jio Financial Said to Reach Initial Deal for India Joint Venture
Insurance Journal | March 20, 2025
Allianz, Jio Financial Said to Reach Initial Deal for India Joint Venture
Billionaire Mukesh Ambani’s Jio Financial Services Ltd., has reached a preliminary agreement with Allianz SE to form an insurance business in India, according to people familiar with the matter. The move comes as the German insurer agreed earlier this week …
London’s IUA Names Jones as Chief Executive, Succeeding Matcham
Insurance Journal | March 20, 2025
London’s IUA Names Jones as Chief Executive, Succeeding Matcham
The International Underwriting Association (IUA), the group representing London companies that provide international and wholesale re/insurance, has named Chris Jones as chief executive, succeeding Dave Matcham. Jones will formally take up his responsibilities on May 1, 2025 in response to …
The Doctors Co. to Take Med-Mal Insurer ProAssurance Private in $1.3B Acquisition
Insurance Journal | March 20, 2025
The Doctors Co. to Take Med-Mal Insurer ProAssurance Private in $1.3B Acquisition
The Doctors Company, the Napa, California-based physician-owned medical malpractice insurer, announced it has entered an agreement to acquire ProAssurance Corp. for $1.3 billion, taking the company private. Under the terms of the agreement, ProAssurance stockholders will receive $25.00 in cash …