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Category: Insurance Journal

What Flood Insurance Does and Does Not Cover
Insurance Journal | July 10, 2025
What Flood Insurance Does and Does Not Cover
Though natural disasters cycle across seasons and regions in the U.S., it’s often a shocking discovery for property owners how expansive and expensive flood and water damage can be when a major storm devastates their homes, businesses and communities. That’s …
Honduran Woman Sentenced for Defrauding NorGUARD of Comp Premiums
Insurance Journal | July 10, 2025
Honduran Woman Sentenced for Defrauding NorGUARD of Comp Premiums
A Honduras woman this week was sentenced to less than two years in federal prison for her role in paying Florida construction workers off the books and avoiding $1.2 million in workers’ compensation premiums and almost $2 million in federal …
US Sanctions Target North Korean Fake-Tech-Worker Scheme
Insurance Journal | July 10, 2025
US Sanctions Target North Korean Fake-Tech-Worker Scheme
The US slapped sanctions on individuals and companies linked to a scheme that involves recruiting North Koreans to pose as American tech workers and help fund Kim Jong Un’s regime. The Treasury Department’s Office of Foreign Assets Control imposed penalties …
US Chamber Report Examines Copyright Value and Piracy Harms
Insurance Journal | July 10, 2025
US Chamber Report Examines Copyright Value and Piracy Harms
Copyright protections don’t just help individuals, they hold up a good part of the U.S. economy, according to a report from the U.S. Chamber of Commerce. The U.S. Chamber of Commerce’s 2023 report highlights industries like architecture, software, music, publishing, …
6 Firefighters Injured Battling Fire in 3-Story Building in New Jersey
Insurance Journal | July 10, 2025
6 Firefighters Injured Battling Fire in 3-Story Building in New Jersey
Six firefighters suffered minor injuries in a blaze Thursday that partially collapsed a three-story building in a New Jersey neighborhood, authorities said. The fire in Jersey City, which started at about 1:30 a.m., also spread to nearby buildings, displacing some …
Three Insurers Join Ward’s Annual Top 50 P/C Ranking for 2025
Insurance Journal | July 10, 2025
Three Insurers Join Ward’s Annual Top 50 P/C Ranking for 2025
Property/casualty insurers have started to broadcast the fact that they have earned spots on Ward’s list of 50 top-performing insurance companies for 2025, but only one was named for 35 straight years—RLI Corp. In addition, there were three newcomers to …
Workers Reach Safety After Collapse Inside LA Industrial Tunnel
Insurance Journal | July 10, 2025
Workers Reach Safety After Collapse Inside LA Industrial Tunnel
All 31 construction workers who were far inside a huge industrial tunnel in Los Angeles made it to safety after a portion of it collapsed Wednesday evening, an outcome officials called a blessing after they initially feared much worse. The …
Markets/Coverages: Descartes Insurance Expands Into Credit & Political Risk
Insurance Journal | July 10, 2025
Markets/Coverages: Descartes Insurance Expands Into Credit & Political Risk
Descartes Insurance, the Paris-based risk-carrying subsidiary of parametric-insurer Descartes, has expanded its offering to corporate clients and public institutions to include credit and political risk insurance (CPRI). To support its expansion into this new class of business, Descartes has hired …
Husband and Wife Sentenced for $20 Million Insurance Fraud Scheme
Insurance Journal | July 10, 2025
Husband and Wife Sentenced for $20 Million Insurance Fraud Scheme
A Maryland husband and wife have been sentenced to 12 years in prison and four years in prison, respectively, after their convictions for a $20 million scheme to commit insurance fraud. In addition to their prison sentences, a judge for …
People Moves: QBE Re Names Senior Leaders Across Markets, Product Areas as Part of Restructuring; Liberty Global Transaction Solutions Appoints Leaders in London, Europe
Insurance Journal | July 10, 2025
People Moves: QBE Re Names Senior Leaders Across Markets, Product Areas as Part of Restructuring; Liberty Global Transaction Solutions Appoints Leaders in London, Europe
This edition of International People Moves details appointments at QBE Re and Liberty Global Transaction Solutions. A summary of these new hires follows here. QBE Re Names Senior Leaders Across Markets, Product Areas as Part of Restructuring QBE Re has …