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Tag: insurance-journal

Storm System Spawned 45 Reports of Tornadoes Across South
Insurance Journal | December 31, 2024
Storm System Spawned 45 Reports of Tornadoes Across South
Officials assessed the damage on Sunday after a strong storm system moved across the southern U.S. over the weekend, spawning tornadoes and killing at least four people. There were at least 45 reports of tornado damage across Texas, Louisiana, Mississippi, …
Illinois Contractor Faces $266K in Fines for Endangering Workers
Insurance Journal | December 31, 2024
Illinois Contractor Faces $266K in Fines for Endangering Workers
Federal inspectors have again cited a Zion, Illinois contractor with an extensive history of endangering workers by exposing them to fall hazards. The latest violations were discovered when employees were found roofing a residential structure without required fall protections – …
California Commissioner Issues Regulation to Allow Reinsurance in Ratemaking
Insurance Journal | December 30, 2024
California Commissioner Issues Regulation to Allow Reinsurance in Ratemaking
California Insurance Commissioner Ricardo Lara on Monday announced what he is calling the final step in his efforts to help the state’s ailing homeowners insurance market with the Net Cost of Reinsurance in Ratemaking Regulation, which enables reinsurance as a …
Maryland Sues Gore-Tex Maker Over ‘Forever Chemicals’ Pollution
Insurance Journal | December 30, 2024
Maryland Sues Gore-Tex Maker Over ‘Forever Chemicals’ Pollution
Maryland is suing the company that produces the waterproof material Gore-Tex often used for raincoats and other outdoor gear, alleging its leaders kept using “forever chemicals” long after learning about serious health risks associated with them. The complaint, which was …
New York State Government to Monitor Its AI Use
Insurance Journal | December 30, 2024
New York State Government to Monitor Its AI Use
New York state government agencies will have to conduct reviews and publish reports that detail how they’re using artificial intelligence software, under a new law signed by Gov. Kathy Hochul. Hochul, a Democrat, signed the bill last week after it …
Bird Flu Likely Mutated Within a Louisiana Patient: CDC
Insurance Journal | December 30, 2024
Bird Flu Likely Mutated Within a Louisiana Patient: CDC
A genetic analysis suggests the bird flu virus mutated inside a Louisiana patient who contracted the nation’s first severe case of the illness, the U.S. Centers for Disease Control and Prevention said last week. Scientists believe the mutations may allow …
Iowa Contractor Agrees to Consent Order Over Unlicensed Public Adjusting
Insurance Journal | December 30, 2024
Iowa Contractor Agrees to Consent Order Over Unlicensed Public Adjusting
The Iowa Insurance Division last month entered into a consent order with a contractor who had made claims they were offering services that require a public adjuster license. Central Iowa Gutter and Donald Smart have agreed to make changes to …
Some Property Catastrophe Rates Fall 5%-15% as Reinsurers’ Appetite Grows: Report
Insurance Journal | December 30, 2024
Some Property Catastrophe Rates Fall 5%-15% as Reinsurers’ Appetite Grows: Report
Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan. Property …
Tornadoes in Texas and Mississippi Kill 2 and Injure 6
Insurance Journal | December 30, 2024
Tornadoes in Texas and Mississippi Kill 2 and Injure 6
HOUSTON (AP) — A strong storm system threatened to whip up tornadoes in parts of the U.S. Southeast on Sunday, a day after severe weather claimed at least two lives as twisters touched down in Texas and Mississippi. Strong storms …
Top South Central Region Insurance Journal Stories of 2024
Insurance Journal | December 30, 2024
Top South Central Region Insurance Journal Stories of 2024
Readers of Insurance Journal were drawn to South Central headlines detailing the complexities facing the insurance industry, from legal and regulatory issues to the evolving landscape of cyber threats and natural disasters. Other popular topics include insurance fraud and unscrupulous …