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News – Insurance Journal
Winter Storm Uri Losses in Texas Expected in $10B – $20B Range
It’s likely that insured losses in Texas from Winter Storm Uri, which overwhelmed the state in mid-February, will climb into the $10 billion to $20 billion range, according to catastrophe modelers and insurance industry market analysts. Losses from Uri may …
POSTED MARCH 01, 2021 11:37 PM |
Many States Lack Flood Risk Disclosure Laws for Homebuyers
Homebuyers in nearly half of the states including hurricane-prone Florida can be left in the dark about the flood risks to their new house. The Natural Resources Defense Council (NRDC) ) has released an updated scorecard that shows which states …
POSTED MARCH 01, 2021 7:30 PM |
Historic General Store in North Carolina Destroyed by Fire
A century-old general store in the northwest North Carolina mountains known as a gathering place for local commerce and memories was destroyed by fire, authorities said. The Todd General Store, established in 1914 and identified in the National Register of …
POSTED MARCH 01, 2021 6:23 PM |
3 Vehicles Stolen in Attack on Illinois Luxury Car Delivery Driver
Four men attacked a luxury car delivery driver in suburban Chicago and took off with three high-end vehicles, authorities said. The attack, which was captured on video, took place early in the morning on Feb. 25 at Jidd Motors in …
POSTED MARCH 01, 2021 5:49 PM |
Ohio Roofing Contractor Cited for Safety Violations, Fined $117.5K
An Ohio roofing contractor has been cited for the sixth time since 2012 by federal workplace safety regulators for failing to ensure workers used required fall protection equipment. The U.S. Department of Labor’s Occupational Safety and Health Administration cited Ivan …
POSTED MARCH 01, 2021 5:40 PM |
Nebraska’s Applied Underwriters Promotes 4 in Actuarial Department
Justin Smith, Jing Hong, Joan Klucarich and Jordan Comacchio have been promoted at Omaha, Nebraska-based global insurance and risk services firm Applied Underwriters, which is expanding its actuarial faculty and resources. Smith was named chief underwriting officer; Hong, chief actuary; …
POSTED MARCH 01, 2021 5:37 PM |
Texas Records $613.58M in Surplus Lines Premium in January
Surplus lines premium continues its steady rise in Texas, with $613.58 million recorded in January, and increase of 13.6% compared with January 2020, according to the Surplus Lines Stamping Office of Texas (SLTX). Many lines of business increased over the …
POSTED MARCH 01, 2021 5:35 PM |
GEICO Drives Up Berkshire 2020 Underwriting Profit
With GEICO’s 2020 underwriting profit more the doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income was in the black, even though the conglomerate’s P/C reinsurance units saw underwriting losses in both years. Taken together, $3.4 …
POSTED MARCH 01, 2021 4:00 PM |
S. Africa’s Steinhoff in Talks with D&O Insurers to Help Settle Accounting Crisis Claims
Steinhoff International Holdings NV is in talks with the providers of director liability insurance policies about help settling legal claims resulting from a 2017 accounting crisis that took the South African retailer to the brink of collapse. An agreement with …
POSTED MARCH 01, 2021 3:55 PM |
Ex-Credit Suisse CEO Raises $300M for Financial Services-Focused SPAC
Former Credit Suisse Group AG Chief Executive Officer Tidjane Thiam raised $300 million for his blank-check company after boosting the size of the deal. Thiam’s Freedom Acquisition I Corp. sold 30 million units at $10 apiece in its U.S. initial …
POSTED MARCH 01, 2021 3:44 PM |
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