A key House committee has passed legislation to renew the National Flood Insurance Program for five years and institute various reforms. The House Financial Services Committee, by a bipartisan vote of 59 to 0, approved the comprehensive measure (H.R.3167) that …
A federal judge in Florida has ruled that a policy exclusion for invasion of privacy claims relieved an insurer of any responsibility for a $60 million settlement against a Boca Raton company for violations of the Telephone Consumer Protection Act. …
A federal judge in New York has granted reinsurance broker Guy Carpenter’s request for a temporary restraining order against three former executives who moved to competitor Lockton in March. The TRO blocks the three executives from directly or indirectly soliciting …
Apple is being sued for $1 billion in damages by an 18-year-old college student who blames the company’s facial recognition software for his false arrest and for wrongly tying him to thefts at Apple stores in several states. The plaintiff …
In a rare move, Berkshire Hathaway is selling one of its companies, leading workers’ compensation specialist Applied Underwriters, in order to avoid conflict with its other workers’ compensation businesses. “Berkshire has a number of workers’ compensation companies, and there was …
Two fired executives of Markel’s Bermuda reinsurance operations are suing Markel claiming the company created a false narrative alleging they violated corporate policy by having a personal relationship in order to escape having to pay them bonuses worth millions of …
The U.S. Department of the Treasury today issued final regulations and other guidance on a provision of the Tax Cuts and Jobs Act that allows owners of sole proprietorships, partnerships, trusts, and S corporations to deduct up to 20 percent …
As indicated by a report by Insurance Journal over the holidays, the Federal Emergency Management Agency (FEMA) is limiting the authority of the nation’s flood insurance program to issue new and renewal policies during the federal government shutdown. The insurance …
Members of the Property Casualty Insurers Association of America and the American Insurance Association have approved a merger that takes effect Jan. 1, 2019. The combined organization is set to have a new name, the American Property Casualty Insurance Association, …
On Friday, December 21, 2018, President Trump signed into law a measure reauthorizing the National Flood Insurance Program until May 31, 2019. The flood program was set to expire at midnight on Dec. 21. However, the partial federal government shutdown …