insurance-journal – Page 164 – Ben Few & Company, Inc.

Insurance Journal | March 1, 2023

South Carolina Man Admits to Burning His Car, Filing False Insurance Claim, DOI Says

South Carolina authorities have charged a man with insurance fraud after he reported his vehicle was stolen, then admitted to setting it on fire. Rusty Dale Peeples, 46, was arrested Feb. 24, charged with making a false insurance claim and …

Insurance Journal | February 20, 2023

Lockton Launches Affinity Biz in Australia, New Zealand and Pacific, Led by Dasgupta

Lockton, the world’s largest privately owned insurance brokerage, announced the launch of an Affinity Schemes business in Australia, New Zealand and Pacific. The business will be led by Tanya Dasgupta who recently joined Lockton as National Manager – Affinity Schemes …

Insurance Journal | February 20, 2023

UK’s Legal & General Launches Fresh UK Lawsuit Against Glencore After Bribery Scandal

Legal & General Group Plc have launched a fresh lawsuit against Glencore Plc, months after the commodities giant pleaded guilty to allegations of market manipulation and bribery. A group of Legal & General funds filed claims against Glencore on Jan. …

Insurance Journal | February 20, 2023

FWD to Buy Majority Stake in Malaysian Insurer Ahead of Planned IPO

FWD Group Holdings Ltd., the pan-Asian insurance company owned by Hong Kong billionaire Richard Li, has agreed to buy a majority stake in Gibraltar BSN Life Bhd., a move that allows it to tap into the Southeast Asian market’s growth …

Insurance Journal | February 20, 2023

Orderly Runoff Didn’t Work. Florida’s United P&C Now Insolvent, Headed for Liquidation

Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, it was announced that UPC is officially broke and will soon be liquidated. …

Insurance Journal | February 20, 2023

Washington Man Ordered to Repay $127K in Workers’ Comp Scam

A Washington contractor who claimed he was too injured to work despite reportedly running his own construction company was ordered to pay back the state more than $127,000. Daniel Joseph Lesieur, of Washougal, pleaded guilty to felony second-degree theft for …

Insurance Journal | February 17, 2023

Nevada Supreme Court Upholds Temporary Ban on Insurers Using Credit Scores

The Nevada Supreme Court upheld the Nevada Division of Insurance’s temporary ban on using credit information to help set insurance rates. The division in 2020 imposed the temporary ban, concluding that the pandemic had a disproportionately negative impact on policyholders’ …

Insurance Journal | February 17, 2023

Illinois Supreme Court: BIPA Claims Accrue With Each Scan

The Illinois Supreme Court ruled Friday that a separate claim accrues each time a business unlawfully scans or transmits an individual’s biometric identifier or information, a decision that could drive up class action settlements against repeated Biometric Information Privacy Act …

Insurance Journal | February 17, 2023

QBE Insurance Announces $1.9 Billion Loss Portfolio Transfer With Enstar

QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group’s exposure to portfolio reserves totaling US$1.9 billion. “This portfolio includes reserves primarily relating to North America and international financial lines, discontinued programs and …

Insurance Journal | February 17, 2023

Two More Louisiana Residents Sentenced in Staged Auto Accident Conspiracy

Two more Louisiana citizens were sentenced for conspiring to stage automobile accidents in order to defraud insurance and trucking companies. United States Attorney Duane A. Evans announced that John Diggs age 62, of Thibodaux, Louisiana, and James Williams, age 68, …