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California Commissioner Issuing Moratorium on Cancellations for Wildfire Victims
California Insurance Commissioner Ricardo Lara has identified areas in the vicinity of the several ongoing large wildfires in the state that will be protected by a one-year moratorium on homeowners insurance non-renewal or cancellation due to wildfire risk. Lara’s action …
POSTED SEPTEMBER 16, 2024 7:36 PM |
Hurricane Francine Insured Losses to Be Manageable With New Orleans Miss
Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler …
POSTED SEPTEMBER 16, 2024 4:42 PM |
McGowan Owner Jackson Takes Reins as Big ‘I’ Chairman
Todd Jackson, owner and partner of McGowan Insurance Group, has been named chairman of the Independent Insurance Agents & Brokers of America (the Big “I”). Jackson was installed as the 2024-2025 chairman of the industry group at its fall conference …
POSTED SEPTEMBER 16, 2024 4:27 PM |
Reinsurance Outlook to ‘Neutral’; US to Push for Double-Digit Casualty Increases
Fitch Ratings said reinsurers are likely to push for double-digit U.S. casualty rate increases during January renewals to keep up with loss trends from social inflation. The rating agency in a new report changed its outlook of the global reinsurance …
POSTED SEPTEMBER 16, 2024 3:36 PM |
Hawaii Probe Finds No Single Factor Led to Maui Wildfire Losses
No single factor led a fire in the seaside Hawaiian town of Lahaina last year to rage out of control and kill 102 people, according to a state report that assesses the government’s response to the disaster but not its …
POSTED SEPTEMBER 16, 2024 3:29 PM |
Louisiana Commissioner Warns Against Contractor Fraud Post-Hurricane Francine
Louisiana Insurance Commissioner Tim Temple is warning residents to be aware of contractor fraud following Hurricane Francine. Large storms events such as hurricanes provide an opening for dishonest services providers to take advantage of homeowners, Temple said. The commissioner added …
POSTED SEPTEMBER 16, 2024 3:23 PM |
Minnesota Ammunition Manufacturer to Pay $349K Over Clean Air Act Violations
The U.S. Environmental Protection Agency announced a settlement with Federal Cartridge Co. in Anoka, Minnesota, for alleged Clean Air Act violations. Federal Cartridge is one of the world’s largest manufacturers of sporting ammunition. EPA estimates the settlement will reduce air …
POSTED SEPTEMBER 16, 2024 3:12 PM |
Michigan Company Sued for Violating Federal Law on Employee Accommodations
PACE Southeast Michigan, a company providing all-inclusive care for the elderly, violated federal law at multiple locations in the Detroit area by failing to provide reasonable accommodations to employees with disabilities attempting to return to work following Family Medical Leave …
POSTED SEPTEMBER 16, 2024 2:56 PM |
Man Admits Shootings That Damaged Electrical Substations in the Dakotas
BISMARCK, N.D. (AP) — A Canadian man has pleaded guilty to federal crimes for shootings at electrical substations and an oil pipeline in the Dakotas that caused $1.7 million in damages. Cameron Monte Smith pleaded guilty Wednesday in U.S. District …
POSTED SEPTEMBER 16, 2024 2:42 PM |
Arkansas County and Health Provider to Settle for $6M Over Detainee’s Death
LITTLE ROCK, Ark. (AP) — A county in western Arkansas and a health provider have agreed to a $6 million settlement with the family of a man who died from dehydration and malnutrition while being held in a local jail, …
POSTED SEPTEMBER 16, 2024 2:34 PM |
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