In an effort to save four financially troubled insurers that have been under regulatory supervision since 2019, a North Carolina court has ordered convicted insurance mogul Greg Lindberg to hand over control of hundreds of his private companies to a special board. Mr. Lindberg, according to the ruling, committed fraud by failing to comply with… Continue reading Convicted Insurance Mogul Ordered to Give Up Control of Companies
Author: Farkas Laura
Chad Holsclaw Joins Alliant Insurance Services’ Employee Benefits Group
Chad Holsclaw has joined Alliant Insurance Services as Vice President within its Employee Benefits Group. In this position, Holsclaw will deliver high-value, analytics-backed benefits solutions that enhance organizational efficiencies and strengthen financial performance. Holsclaw is based in Little Rock, Arkansas and will also work out of the Dallas, Texas and Memphis, Tennessee Alliant office locations.… Continue reading Chad Holsclaw Joins Alliant Insurance Services’ Employee Benefits Group
University Researchers to Develop ‘Cat 6’ Hurricane Simulator with 200 Mph Winds
The Category 6 hurricane’s howling winds accelerate to a startling 200 mph in Miami, mercilessly pummeling a two-story wood-frame house until the roof tears off and the rattling windows explode. And a towering 20-foot storm surge spawns battering waves, swamping the structure and shoving it off its foundation like a doomed dollhouse. Sounds like a… Continue reading University Researchers to Develop ‘Cat 6’ Hurricane Simulator with 200 Mph Winds
Data Breach at Department of Insurance Exposed Personal Information of 1.8M Texans
A massive security breach at the Texas Department of Insurance leaked the personal information of almost 2 million Texans for nearly three years, according to a state audit released last week. The department said the personal information of 1.8 million workers who have filed compensation claims — including Social Security numbers, addresses, dates of birth,… Continue reading Data Breach at Department of Insurance Exposed Personal Information of 1.8M Texans
German Insurance Industry Cuts Outlook in Wake of War
The German Insurance Association (GDV) has downgraded its forecast for the industry for 2022 in the wake of the war in Ukraine. The GDV now expects annual premium income to grow 2.3% this year, down from previous expectations of 2.7%, it told Reuters on Thursday. “The direct effect on German insurance companies due to the… Continue reading German Insurance Industry Cuts Outlook in Wake of War
Survivors of Surfside Condo Collapse Seek More Settlement Money
Iliana Monteagudo, who escaped the Champlain Towers South moments before it collapsed last summer, says she has been trying to rebuild her life at the age of 65, with no savings and lingering anxiety from the Surfside disaster. She expects to receive approximately $610,000 from an initial settlement reached in March by the 136 condo… Continue reading Survivors of Surfside Condo Collapse Seek More Settlement Money
Homeowners, Roofers Sue Florida Insurance Regulators Over Policy Changes
Just one week before the Florida Legislature will reconvene in Special Session to consider an overhaul to the state’s property insurance laws, a nonprofit homeowners and independent contractor rights association sued the Florida Office of Insurance Regulation and two insurance companies. The lawsuit asserts that Florida Insurance Commissioner David Altmaier and Florida’s Office of Insurance… Continue reading Homeowners, Roofers Sue Florida Insurance Regulators Over Policy Changes
Report: Climate Change Is Hurting Insurers
Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday. Insured losses from natural catastrophes have increased 250% in the last 30 years, with perils such as wildfires and storms, seen as particularly impacted… Continue reading Report: Climate Change Is Hurting Insurers
U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005
U.S. traffic deaths increased 10.5 percent in 2021 to 42,915 – the most killed on American roads in a single year since 2005, according to a preliminary estimate released Tuesday by U.S. regulators. The yearly increase is the highest recorded since the National Highway Traffic Safety Administration’s (NHTSA) current traffic fatality tracking system was implemented… Continue reading U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005
U.S. Women’s and Men’s Soccer Teams Will Receive Equal Pay Under New Labor Deals
The United States Soccer Federation has reached landmark collective-bargaining agreements with its men’s and women’s national teams that align the teams’ pay and create a unique mechanism to share prize money from their respective World Cup competitions. The labor agreements follow years of legal pressure on the U.S. federation from members of its four-time World… Continue reading U.S. Women’s and Men’s Soccer Teams Will Receive Equal Pay Under New Labor Deals