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Category: Insurance Journal

SEC Account Hack Renews Spotlight on X’s Security Concerns
Insurance Journal | January 10, 2024
SEC Account Hack Renews Spotlight on X’s Security Concerns
The hack of the U.S. Securities and Exchange Commission’s official account on X on Tuesday renewed concerns about the social media platform’s security since its takeover by billionaire Elon Musk in 2022. The hackers posted false news about a widely …
Judge Approves $2.8 Million Settlement for Unpaid Work by Michigan Cosmetology School Students
Insurance Journal | January 10, 2024
Judge Approves $2.8 Million Settlement for Unpaid Work by Michigan Cosmetology School Students
A judge has approved a $2.8 million settlement in a dispute over unpaid work performed by aspiring hair stylists at a Michigan cosmetology school. Roughly 1,500 people will get some compensation for cleaning floors, washing towels and stocking shelves when …
Extreme Weather and Misinformation Top Global Risks: World Economic Forum
Insurance Journal | January 10, 2024
Extreme Weather and Misinformation Top Global Risks: World Economic Forum
Risk specialists see extreme weather and misinformation as most likely to trigger a global crisis in the next couple of years, a World Economic Forum (WEF) survey released on Wednesday said. While extreme weather was identified as the bigger risk …
Michigan Appellate Court: Parents Have Right to Elect Lower Auto Insurance Limits for Minor Drivers
Insurance Journal | January 10, 2024
Michigan Appellate Court: Parents Have Right to Elect Lower Auto Insurance Limits for Minor Drivers
The Michigan Court of Appeals ruled last week that state law permits the parent of a minor to elect lower than default liability limits for their child’s auto insurance coverage. A three-judge panel unanimously affirmed a trial court’s decision that …
USDA to Provide Weaned Calf Risk Protection Insurance in Four States
Insurance Journal | January 10, 2024
USDA to Provide Weaned Calf Risk Protection Insurance in Four States
The U.S. Department of Agriculture is announcing Weaned Calf Risk Protection, a new insurance option for livestock producers in several states. This policy, offered by USDA’s Risk Management Agency (RMA), offers Actual Production History (APH) coverage for beef cow-calf producers …
Loss of Alaska Airlines Cockpit Recording Rekindles Industry Safety Debate
Insurance Journal | January 10, 2024
Loss of Alaska Airlines Cockpit Recording Rekindles Industry Safety Debate
The cockpit voice recorder data on the Alaska Airlines Boeing 737 MAX 9 jet which lost a panel mid-flight on Jan. 5 was overwritten, U.S. authorities said, renewing attention on long-standing safety calls for longer in-flight recordings. National Transportation Safety …
MarketScout: 2023 US Commercial Composite Rate Up 4.56%
Insurance Journal | January 10, 2024
MarketScout: 2023 US Commercial Composite Rate Up 4.56%
According to the MarketScout Market Barometer, U.S. commercial property/casualty insurance rates rose to 5.6% in the fourth quarter of 2023, resulting in a total composite rate increase of 4.56% for the whole of 2023. “Calendar year 2023 settled down a …
NCCI: Shifting Workplace, Costs Are Top Concerns for Workers’ Comp Execs
Insurance Journal | January 10, 2024
NCCI: Shifting Workplace, Costs Are Top Concerns for Workers’ Comp Execs
A new survey finds ratings data, changes in the workplace and workforce, medical inflation and economic uncertainty are top of mind concerns for workers’ compensation insurance executives. The National Council on Compensation Insurance (NCCI) released the results of its annual …
P&C People: XS Brokers Expands with Geiss, Kentucky Agents Name New EVP
Insurance Journal | January 10, 2024
P&C People: XS Brokers Expands with Geiss, Kentucky Agents Name New EVP
The underwriting and wholesale brokerage group known as XS Brokers is expanding into the Southeast and has named Adam Geiss as vice president, based in Charlotte, North Carolina. “Charlotte, a vibrant and growing city, has strategically been on our radar …
Tyson Foods, Cargill Suspend Kansas Beef Plants Due to Snowstorm
Insurance Journal | January 9, 2024
Tyson Foods, Cargill Suspend Kansas Beef Plants Due to Snowstorm
CHICAGO – Tyson Foods TSN.N and Cargill CARG.UL said on Tuesday it suspended operations at beef processing plants in Kansas due to a massive snowstorm, disrupting U.S. meat production. Cargill, a major producer of ground beef, said its plant in …