After a series of fires involving faulty e-bike batteries including a recent blaze that claimed four lives, New York City officials announced Sunday that they are receiving a $25 million emergency grant from the federal government to fund scores of charging stations citywide.
Author: Annie George
NFP Acquires the Benefits Business of FinTrust Insurance and Benefits, Inc.
NFP, a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor, announced it has acquired the employee benefits solutions business of FinTrust Insurance and Benefits, Inc. (FinTrust).
California Insurance Wholesalers Association Announces Lloyd’s as New Education Partner
The California Insurance Wholesalers Association (CIWA), a professional trade association focused on California E&S insurance wholesalers, carriers and supporting entities, is pleased to announce a premier partnership with Lloyd’s as the association’s first education sponsor.
Reserving: Higher Uncertainty Puts Adequacy in the Spotlight
Larger reserves for the most recent years and a cushion for as-yet unreported claims suggest a solid buffer is in place, but recent shocks are pushing up claims, raising questions about adequacy. With uncertainty high, insurers may reduce risk appetite and new business capacity, which may in turn sustain the hard market conditions.
MGU Victor Rolls Out Reciprocal Insurance Exchange for Property Cat Offerings
Global managing general underwriter Victor Insurance Managers has announced the introduction of a third-party capitalized reciprocal insurance exchange.
Auto Insurance Rates Are Soaring with Little Relief in Sight
A 40% increase by Allstate in Georgia, a 32% rise sought by Nationwide Mutual Insurance in California, an 11% bump by State Farm in New York. Insurers are imposing steep increases on auto insurance rates, with state regulators doing little to stop them.
Tornado and Other Severe Weather Kill 3, Damage Homes, and Knock Out Power in Multiple States
A tornado struck an Indiana home, killing a man and injuring his wife, while two people died in Arkansas after a tree fell onto a house, as severe weather rumbled through several central states.
ESG-Driven Litigation Soars to New Heights in Class Action Lawsuits Against Airlines
Recent putative class action lawsuits filed against Delta Air Lines, Inc. and American Airlines, Inc. appear to raise “firsts” when it comes to ESG-driven litigation.
Florida Sells Bonds to Backstop Its Homeowner’s Insurance Industry
A Florida state agency is selling municipal bonds to backstop the state’s homeowner’s insurance industry after a surge of claims and litigation drove some insurers to shutter.
More Americans Are Losing Homeowners Coverage Due to Storms, Lawsuits and other Factors
Many Americans should start planning now for the growing possibility that their home-insurance provider won’t renew their coverage.