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News – Insurance Journal
Florida OKs Emergency Adjusters, Brings In Fraud Strike Teams for Sally Recovery
The Florida Department of Financial Services has deployed its Disaster Fraud Action Strike Team (DFAST) to the Florida Panhandle, as well as activated the state’s emergency adjuster license system to assist with recovery efforts from Hurricane Sally. According to a …
POSTED SEPTEMBER 23, 2020 7:15 AM |
Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B
Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property & casualty insurers and reinsurers. “Because Sally appears to be primarily a flood event, …
POSTED SEPTEMBER 23, 2020 6:53 AM |
Texas’ Blue Bell Creameries to Pay $17.25M in Penalties for Listeria Contamination
Texas-based Blue Bell Creameries L.P. has been ordered to pay $17.25 million in criminal penalties for shipments of contaminated ice cream products linked to a 2015 listeriosis outbreak, according to the U.S. Justice Department/ Blue Bell pleaded guilty in May …
POSTED SEPTEMBER 23, 2020 6:30 AM |
Independent Brokers Will Remain Competitive by Adding Value to the Value Chain
The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser, chairman of AFL Insurance Brokers, a London-based independent broker. Indeed, Esser said, the COVID-19-related coverage disputes involving business interruption pandemic …
POSTED SEPTEMBER 23, 2020 6:00 AM |
Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change
Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caused by secondary …
POSTED SEPTEMBER 23, 2020 6:00 AM |
Texas Auto Insurance Plan Association Requests 4.8% Commercial Rate Hike
The Texas Automobile Insurance Plan Association (TAIPA) has filed a request with the Texas Department of Insurance to charge new insurance rates for commercial automobiles. The filed rates represent a 4.8% increase in commercial automobile rates. TAIPA proposed an effective …
POSTED SEPTEMBER 23, 2020 5:34 AM |
Lockton Pacific Promotes Hostovich and Barnes in California
Lockton Insurance Brokers LLC, the Pacific region of global insurance broker Lockton Cos., has named Teena Hostovich vice chair of Lockton Pacific and Greg Barnes president of Greater Los Angeles. Barnes and Hostovich are based in Lockton’s Los Angeles office. …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Shopify Customer Data Likely Exposed by 2 Employees Attempting to Steal Records
Shopify Inc. said on Tuesday data of customers who shopped at fewer than 200 merchants listed on the company’s e-commerce platform was likely exposed after two employees tried to steal transaction records. The data exposed includes email, name, and address, …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Confident Russia Vows to Shoulder Some of the Legal Liability of Its COVID-19 Vaccine
Russia is so confident in its COVID-19 vaccine that it will shoulder some of the legal liability should anything go wrong, rather than requiring buyers to take on the full risk, the head of the state fund bankrolling the project …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Toyota Insurance in Europe Joins Swiss Re’s Vehicle Risk Rating System
Toyota is the newest partner in the Swiss Re platform that provides a risk score on vehicles so insurers can develop premiums that reflect new safety features. Through this partnership with Toyota Insurance Services (TIS)/Toyota Insurance Management Europe, Swiss Re …
POSTED SEPTEMBER 23, 2020 5:00 AM |
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